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Durable Goods Orders in U.S. Decrease for Second Straight Month
Orders for durable goods unexpectedly dropped in September for a second month as demand for machinery and computers slumped. Bookings for goods meant to last at least three years decreased 1.3 percent after falling 18.3 percent in August, a Commerce Department report showed today in Washington. The median forecast of 83 economists surveyed by Bloomberg called for a 0.5 percent gain. Excluding transportation equipment, which is often volatile month to month, orders declined 0.2 percent. Companies are looking for more signs of sustained consumer demand before making high-dollar investments, even as households benefit ... (full story)
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