Orders for big-ticket manufactured goods plunged in October by the largest amount in more than six years, in another sign of a slowing economy.
The Commerce Department reported Tuesday that demand for durable goods fell a larger-than-expected 8.3 percent last month to a seasonally adjusted $210 billion, reflecting a big drop in demand for commercial airplanes, a category that had soared in September.
It marked the third month in the past four that orders have either fallen or shown no gain, providing evidence that the nation’s factories are beginning to feel the impact of the slowdown in the overall economy.
The 8.3 percent drop in orders for durable goods, items such as airplanes and autos that are expected to last at least three years, was the largest one-month decline since a 14 percent plunge in July 2000. It followed an 8.7 percent surge in September.