US durable orders fall, but business investment up

Published September 27, 2012 1:21pm ET



WASHINGTON (AP) — Demand for long-lasting manufactured goods plunged in August because of a huge drop in volatile commercial aircraft orders. But in a hopeful sign, orders that reflect business investment plans rose.

The Commerce Department said Thursday that total durable goods orders fell 13.2 percent in August. That’s the biggest drop since January 2009 when the country was in recession. Aircraft orders fell by nearly 102 percent, pulling down the headline figure.

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