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Durable Goods Orders Down More Than Forecast

02/27/2008
The slowing economy took a toll on manufacturing last month, as new orders for durable goods - manufactured items expected to last more than three years - dropped 5.3 percent to $212.8 billion, a larger decrease than the 4 percent that was predicted by economic industry analysts. Unfilled orders for durable goods rose 0.6 percent to $813.2 billion, the highest level since 1992. The decline was seen across the board in almost every industry: orders for transportation goods fell 13.4 percent, largely on drops in civilian and defense aircraft orders; electronics fell 2.7 percent, including an 11.7 decline in orders for computers; metals orders fell 4.1 percent; and orders for machinery dropped 1.5 percent.

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