Wednesday, November 24, 2010

Durable goods orders dropped in October

Biggest monthly drop in nearly two years

Orders for U.S. durable, goods, products meant to last at least three years, unexpectedly dropped in October, according to the U.S. Commerce Department.

Demand for durable goods decreased 3.3 percent, the biggest drop since January 2009, after a revised 5 percent jump in September.

Meanwhile, jobless claims declined by 34,000 to 407,000 in the week ended Nov. 20, according to the Labor Department.

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