Durable Orders Decline 0.7% in October

Durable goods orders declined 0.7% in October as demand for aircraft and business equipment dropped, the Commerce Department said Wednesday.

The decrease followed a revised 1.5% drop in September that was larger than previously reported, Commerce said.

Economists had expected a 1.2% decrease in October, Bloomberg reported.

Excluding volatile transportation orders, bookings for goods meant to last several years rose 0.7%, Commerce said.

Durable goods include large items like refrigerators and air conditioners. Trucking is a major beneficiary of durable goods manufacturing, hauling both components and finished goods.