Economy
October 28, 2014
Surprise Decline for Durable Goods Orders
Written by Sandy Williams
Durable goods orders unexpectedly fell 1.3 percent in September for a second consecutive monthly decline. The drop follows a tumble of 18.3 percent in August. Economists were forecasting a gain of 0.5 percent for September.
The disappointing performance may lead economists to revise forecasts for the third quarter GDP scheduled for release on Thursday. Current forecasts anticipate a 3 percent annualized rate for third quarter after a strong 4.6 percent gain in second quarter.
