Plunge in Goods Orders May Restrain U.S. Expansion: Economy

Demand for U.S. durable goods other than transportation equipment unexpectedly dropped in August for a third consecutive month, signaling that slowdowns in business investment and exports will restrain the economic expansion.

Orders for goods meant to last at least three years, excluding volatile demand for airplanes and automobiles, fell 1.6 percent last month after decreasing 1.3 percent in July, the Commerce Department reported today in Washington. Total bookings plunged 13.2 percent, the most since January 2009, as demand for civilian aircraft collapsed.