US durable goods orders fall 1.1% in September
WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods tumbled in September by the largest amount in four months while a closely watched category that tracks business investment fell for a second month.
The declines underscored the troubles manufacturing is having in the face of a global slowdown and trade war uncertainty.
The Commerce Department said Thursday that orders for durable goods dropped 1.1% in September, the biggest setback since a 2.3% decline in May. Orders in a category that serves as a proxy for business investment spending dipped 0.5% following a 0.6% decline in July.
U.S. manufacturing has been struggling this year as a global slowdown and President Donald Trump’s get-tough trade policies have hurt export sales. Auto production was also curtailed because of a strike at General Motors.