Wednesday, April 24, 2013

Fasten Your Seatbelts! Orders for U.S. Durable Goods Decline by Most Since August

From Bloomberg: Orders for U.S. durable goods fell in March by the most in seven months as demand slumped for commercial aircraft and business investment cooled.

Bookings for goods meant to last at least three years decreased 5.7 percent after a revised 4.3 percent gain the prior month that was smaller than previously estimated, the Commerce Department reported today in Washington. The median forecast of 78 economists surveyed by Bloomberg called for a 3 percent decline. Excluding transportation equipment such as planes, which is volatile month to month, orders unexpectedly fell for a second month….

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