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Durable-Goods Orders Drop 2% in October

MarketWatch (11/27/13) Jeffrey Bartash

Orders for big-ticket U.S. goods fell 2.0% in October, largely because of fewer contracts for jumbo jets, the U.S. Department of Commerce reported today. Economists polled by MarketWatch had expected orders to drop 2.2%. Orders were soft for most major industries excluding autos, pointing to slower U.S. growth in the waning months of 2013.

So-called core capital goods orders fell 1.2% last month after a 1.4% drop in September. That category excludes aircraft and Pentagon spending and is a good proxy for how much U.S. businesses are investing.