Reflecting a steep drop in orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods fell by more than expected in the month of October.
The report said durable goods orders tumbled by 2.2 percent in October after climbing by an upwardly revised 0.7 percent in September.
Economists had expected durable goods orders to slump by 1.5 percent compared to the 0.5 percent increase that had been reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.