Durable Orders Off on Defense Goods Decline

Washington, DC, October 25, 2007—Durable goods orders fell 1.7% in September after a revised 5.3% decline in August, according to the Commerce Department.

Orders for defense goods dropped by 39% during the month for its biggest decline so far this year. Excluding defense goods, orders for durable goods rose 0.7%.

Excluding the 6.3% drop in transportation orders, orders for durable goods rose 0.3%.

Economists were expecting an increase in durables of 1.1%.