Photo: Spencer Platt/Getty Images
August durable goods orders plunged -13 percentThe consensus was -5.0 per cent.
It’s the biggest drop since January 2009.
Everyting except eletrical equipment orders showed declines.
Ex-transportation, the index fell 1.6 per cent.
Analysts had predicted an ex-transportation measurement of +0.2 per cent.
Transportation goods orders had seen four consecutive monthly increases.
Photo: Thomson Reuters
But this time they fell 34.9 per cent.
defence, meanwhile, fell more than 40 per cent.
Inventory also saw its highest-ever level for August, increasing 0.6 per cent to $371.6 billion.
July orders were also revised slightly downward.
Even with last month’s relative gains, economists see continued softness, according to Bloomberg.
But many analysts caution the index remains volatile.
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