Durable goods orders fell 0.6% in October as orders excluding transportation dropped by the largest amount in seven months, the Commerce Department reported Wednesday.
New orders for durable goods excluding transportation fell 1.3%, the largest drop since March. Orders excluding transportation in September were revised higher to a 1.8% increase from a 0.9% rise, which was initially reported.
Total durable goods orders in September increased 1.6%, double was what initially reported.
Economists expected durable goods orders to rise 0.5% for the month and for orders excluding transportation to rise 0.6%, according to the median estimate provided by Thomson Reuters.