US Durable Goods Orders Fall For Third Consecutive Month In October - Commerce Department

WASHINGTON (UrduPoint News / Sputnik - 21st November, 2018) New orders for big ticket US manufactured goods declined $11.5 billion or 4.4 percent in October, the third decrease in the past four months, the Department of Commerce announced in a report on Thursday.

"Transportation equipment, down following two consecutive monthly increases, drove the decrease, [falling] $11.7 billion or 12.2 percent to $84.7 billion," a press release summarizing the report said.

Excluding transportation, new orders increased 0.

1 percent, but excluding defense, new orders decreased 1.2 percent, the release said.

The monthly report covers big-ticket items that wear out over a period of time - typically more than three years - instead of being consumed in a single use.

Examples include weapons for the Defense Department, farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; turbines and generators; power transmission equipment; trucks and aircraft, according to the release.