October Durable Orders Decline by Most Since July 2000

urable goods orders posted their biggest decline since July 2000, falling 8.7% in October, the Commerce Department reported Tuesday.

The decrease follows an 8.3% gain in September, which was the biggest gain in more than six years, Commerce said.

The drop was driven largely by softening demand for commercial aircraft computers and communications equipment, Commerce reported.

Economists had predicted durable orders to drop 5%, Bloomberg reported.

Trucking is a major beneficiary of durable goods manufacturing, hauling both components and finished goods.