- Feb 10, 2005
- Reaction score
- Montgomery, Al
How's that "Hopey" "Changey" feeling working out for the liberals? :lol: :lol: :lol:
Durable goods orders tumbled 4.2 percent, the largest decline since January 2009, the Commerce Department said on Wednesday after a downwardly revised 1.9 percent increase in February.
Economists had forecast orders for durable goods, which range from toasters to aircraft, falling 1.7 percent after a previously reported 2.4 percent rise in February.
Orders were dragged down by a 12.5 percent plunge in bookings for transportation equipment - the most since November 2010.
Excluding transportation, orders fell 1.1 percent after a 1.9 percent rise in February. Economists had forecast this category rising 0.5 percent.
The report added to signs that manufacturing exited the first quarter with less momentum. Data last week showed industrial production was flat in March for a second straight month, while some gauges of regional factory activity weakened in April.
Manufacturing has been one of the main sources of economic growth, but is slowing as euro zone economies slide into recession and China cools.
The plunge in orders for transportation equipment reflected a 47.6 percent drop in bookings for civilian aircraft. Boeing received only 53 orders for aircraft, according to the plane maker's website, down from 237 in February.