US durable goods orders fell 1.2 per cent in October

WASHINGTON — Orders for long-lasting manufactured goods fell last month for the first time since July, pulled down by plummeting orders for commercial aircraft. A category that tracks business investment posted the biggest drop in more than a year.

The Commerce Department says orders for durable goods, which are meant to last at least three years, slid 1.2 per cent in October. It was the first drop since a 6.8 per cent decrease in July.

Last month’s figure was warped by an 18.6 per cent drop in orders for commercial planes, a category that bounces around from month to month. Excluding transportation, orders were up 0.4 per cent.

Overall, American industry is looking healthy, helped by an improving world economy and a drop in the U.S. dollar, which makes American products less expensive in foreign markets.