October durable goods orders fell 0.7 percent (AP)

WASHINGTON ? Business orders for long-lasting manufactured goods fell for a second straight month in October.

While much of the weakness came from a big drop in demand for commercial aircraft, a key category that tracks business investment spending fell by the largest amount since January.

The Commerce Department says that orders for durable goods fell 0.7 percent in January following a September decline of 1.5 percent. Orders for core capital goods, considered a good proxy for business investment spending, dropped 1.8 percent, the biggest decline since a 4.8 percent fall in January.

Manufacturing has been one of the strongest sectors in the economy in this sub-par recovery, but this sector slowed this year as consumer demand faltered and auto factories had trouble getting parts following the March natural disasters in Japan.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111123/ap_on_bi_go_ec_fi/us_durable_goods

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