Business

US durable goods fell 18.2 percent in August

By Martin Crutsinger
Published September 25, 2014 1:53pm ET
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US durable goods fell 18.2 percent in August
In this Sept. 19, 2014 photo, workers assemble body armor in the sewing area in the Point Blank Body Armor factory in Pompano Beach, Fla. The Commerce Department releases its report on August durable goods orders on Thursday, Sept. 25, 2014. (AP Photo/J Pat Carter) | J Pat Carter

WASHINGTON (AP) — Orders for long-lasting manufactured goods slumped in August as demand for commercial aircraft descended from record highs, but investment plans by businesses posted promising gains.

Durable goods orders fell 18.2 percent in August following a 22.5 percent jump in July, the Commerce Department reported Thursday. Both the big increase and the big drop were records. They reflected sharp swings in demand for commercial aircraft, an extremely volatile category that can skew overall results. Airplane orders fell 74.3 percent in August.

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