Durable Goods Up, Sort Of
Durable goods orders jumped unexpectedly in September, posting a 0.8 percent increase. The number reflects sales of big ticket items and is watched as a barometer of the health of the manufacturing sector. Good news? Sort of, but the number was driven up by a spike in aircraft orders. Transportation is a volatile part of the equation. Excluding transportation, orders were down 1.1 percent -- still a better showing than expected, but a decline nonetheless. In addition, August orders were revised downward, making that month's 4.1 percent decline even sharper.
-- Howard Schneider
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