Durable-Goods Drop Imperils Outlook for U.S. GDP Pickup
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Orders for durable goods dropped in July by the most in almost a year, calling into question the strength of the projected pickup in U.S. growth.
Bookings for goods meant to last at least three years fell 7.3 percent, the first decrease in four months and the biggest since August 2012, the Commerce Department said today in Washington. The retreat was broad-based, with demand excluding the volatile transportation category unexpectedly falling.