Durable Goods Orders Fall; Business Spending Up

Washington, DC, Sept. 28, 2011 -- Durable goods orders declined in August on weak demand for cars and trucks, according to the Commerce Department.

However, a measure for business spending surged higher, which could mean another recession is unlikely.

The Commerce Department said durable goods orders fell 0.1% after a 4.1% jump in July.

Economists had predicted orders would be unchanged last month.

Non-defense capital goods orders excluding aircraft, which correlates with business spending, increased 1.1% last month after a 0.2% fall in July.

Economists had expected a 0.3% rise in this category.