Orders for U.S. manufactured goods meant to last at least three years fell 0.4 percent, the third consecutive monthly drop, the U.S. Commerce Department said.

The October decrease to a seasonally adjusted $214.5 billion was 0.3 percentage points steeper than the 0.1 percent slump many Wall Street economists expected.

It followed September's 1.4 percent drop, revised from a previously estimated 1.7 percent decline, the department said.

August orders plunged 5.3 percent.

October orders for non-defense capital goods excluding aircraft fell 2.3 percent -- the biggest reduction since February's 2.4 percent decrease.

September orders for these products -- widely seen as a barometer for business investment -- rose 1.2 percent, the department said.

October shipments in the category decreased 1.2 percent, after September's 1.7 percent rise.

Transportation orders in October increased 0.2 percent, after tumbling 7 percent in September, with motor vehicles and auto-parts orders falling 1.4 percent, the department said.

Orders for all durable goods except transportation fell 0.7 percent. Computers and electronics dropped 8.4 percent.  // Copyright 2007 by United Press International



Publication date: 28 November 2007   

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