Orders for manufactured goods plunge

[Maddy McCall]

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) -- 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.

MORE: http://hosted.ap.org/dynamic/stories/D/DURABLE_GOODS?SITE=MSJAD&SECTION=HOME&TEMPLATE=DEFAULT

[Missy M]

1. One day the economy is up, the next down....

I guess the White House wasn't able to edit this report to their liking.

[napingo]

2. Thank goodness for NAFTA, CAFTA and Tom Friedman

Yessiree, those benefits from free trade (sic) are every bit as exciting as what Mr. Friedman said they'd be. And remember kids - Mr. Friedman is one of THE wealthiest people around. His wife's family are either billionaires, or close to it, so Mr. Friedman knows a thing or two about economics.

[underpants]

3. Welcome to DU

:hi:

[newyawker99]

7. Hi napingo!!

Welcome to DU!! :toast:

[pacalo]

8. Welcome, napingo! Love your comments.

[Norquist Nemesis]

4. That's a 0.4% gain, Silly!

At least that's what we'll be hearing from Bushematicians. :eyes:

[TlalocW]

5. Didn't the Bush administration

Get fast food declared as a manufactured good?

TlalocW

[NMDemDist2]

6. "Fasten your seatbelts, it's going to be a bumpy ride." K&N n/t

[Trillo]

9. Wouldn't that be expected if

manufacturing were increasingly occurring outside the U.S. as a result of, say, outsourcing?