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Durable Goods Orders Down for October

Orders for durable goods from U.S. factories fell in October, according to the U.S. Department of Commerce. The orders for the goods -- defined as manufactured products designed to last three or more years, such as appliances and transportation equipment -- dropped 0.6 percent, a significant difference from the average industry prediction of a 0.5 percent increase. The largest decline came in orders for defense capital goods, which dropped 18.4 percent. The decline followed a 2 percent increase in September. The report for November will be released on December 24.

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