Orders for Business Equipment in U.S. Unexpectedly Decline
U.S. Durable Goods Orders Decline 1.2% in September
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Orders for business equipment unexpectedly declined in September as tepid global markets gave American companies little reason to expand.
Bookings for non-military capital goods excluding aircraft dropped 0.3 percent after a 1.6 percent August decrease that was twice as large as previously estimated, according to a Commerce Department report on Tuesday. Demand for all durable goods -- items meant to last at least three years -- fell 1.2 percent.