Durable Goods Orders Drop 7.8% in January

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Durable goods orders posted their biggest decline in three months, falling 7.8% in January, the Commerce Department reported Tuesday.The downturn, which followed a 2.8% gain in December, reflected less demand for commercial aircraft and the biggest drop in business equipment orders in three years, Commerce said.Orders excluding transportation equipment dropped 3.1%.Economists had predicted durable orders to drop 3% and to decline 0.2% excluding transport orders, Bloomberg reported.Trucking is a major beneficiary of durable goods manufacturing, hauling both components and finished goods.