CALIFORNIA
Check out the new California section

Topics

Boeing
Durable goods orders plunge as aircraft demand returns to normal
Durable goods orders plunge as aircraft demand returns to normal

Orders for computers, automobiles and other long-lasting durable goods last month posted their biggest drop since the federal government began collecting the data in 1992 as aircraft demand returned to normal levels after a surge in July. New orders for durable goods plunged 18.2% in August after increasing 22.5% the previous month, the Commerce Department said Thursday. The figures are a closely watched indicator of economic activity in the important manufacturing sector. In a positive sign, there was an increase in a key category viewed as a barometer for business investment plans. The July jump had been fueled by a stellar month for Boeing Co., which said it received 324 new...

Loading