Economy
In reply to the discussion: STOCK MARKET WATCH -- Tuesday, 27 August 2013 [View all]Fuddnik
(8,846 posts)Orders for long-lasting U.S. manufactured goods recorded their biggest drop in nearly a year in July and a gauge of planned business spending on capital goods tumbled, casting a shadow over the economy early in the third quarter.
The Commerce Department said on Monday durable goods orders dropped 7.3 percent as demand for goods ranging from aircraft to computers and defense equipment fell. That was the biggest decline since last August and snapped three consecutive months of gains
Orders for these goods, which range from toasters to aircraft, had increased 3.9 percent in June.
Economists polled by Reuters had expected durable goods orders to fall 4.0 percent.
Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, fell 3.3 percent, breaking four straight months of gains. It was the biggest fall since February.
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http://www.nbcnews.com/business/outlook-3rd-quarter-darkens-durable-goods-orders-tumble-8C10996040
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Not to worry. O'Bomber is getting ready to start another Mideast war to pick up the slack.