Advertisement
U.S. Durable Goods Orders Plunge Much More Than Expected In October
(RTTNews) - A report released by the Commerce Department on Wednesday showed new orders for U.S. manufactured durable goods pulled back by much more than expected in the month of October.
The Commerce Department said durable goods orders plunged by 5.4 percent in October after surging by 4.6 percent in September. Economists had expected durable goods orders to tumble by 3.1 percent.
The sharp pullback in durable goods orders came as orders for transportation equipment plummeted by 14.8 percent in October after spiking by 11.6 percent in September.
Excluding the steep drop in orders for transportation equipment, durable goods orders were virtually unchanged in October after edging up by 0.2 percent in September. Ex-transportation orders were expected to inch up by 0.1 percent.
Fed Leaves Interest Rates Unchanged In Divided Decision
U.S. Pending Home Sales Unexpectedly Decrease In June
U.S. GDP Rebounds In Q2 Amid Sharp Pullback By Imports
U.S. Private Sector Job Growth Exceeds Estimates In July
U.S. Gross Domestic Product Rebounds More Than Expected In Q2
U.S. Private Sector Employment Jumps More Than Expected In July
U.S. Job Openings Decrease Slightly Less Than Expected In June
