U.S. DURABLE GOODS ORDERS PLUNGE BY RECORD 7.8%
February 27th, 2007Via: CNN:
New orders for U.S.-made durable goods fell by a much worse-than-expected 7.8 percent in January, as a steep drop in civilian airliner orders helped push orders for nondefense goods to their biggest monthly decline on record, a government report showed Tuesday.
The Commerce Department reported that excluding volatile transportation orders, which are heavily skewed by aircraft, durable goods orders fell 3.1 percent January, their steepest drop since July 2005, following a downwardly revised 2.8 percent gain in December.
