Bonds/Economy
Durable Goods Orders Plunge
The Associated Press
11/26/08 - 08:53 AM EST
WASHINGTON -- Orders to U.S. factories for big-ticket manufactured goods plunged in October by the largest amount in two years as manufacturing was battered by the overall economic weakness.
The Commerce Department says orders for durable goods dropped by 6.2% last month, more than double the 3% decline economists expected.
The report showed widespread declines throughout manufacturing led by decreases in autos and airplanes.