U.S. orders for durable goods
unexpectedly fell 3.1 percent in November, led by the largest
decline in computers and electronic products since July 2000, a
government report showed.
Orders for items made to last at least three years dropped
to $180.1 billion after rising 4 percent in October, the Commerce
Department said in Washington. The decline was the first in three
months and the largest since September 2002. Excluding
transportation equipment, orders fell 3.7 percent after climbing
3 percent in October.
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Businesses may have taken a break after October orders grew
by the most in 15 months, said economists including Jade Zelnik
at RBS Greenwich Capital. Manufacturing surveys have shown
inventories at historic lows, suggesting stronger corporate
investment to replenish stockpiles may help sustain economic
expansion in the months ahead.
Bloomberg News
