Durable goods orders drop

November 26, 2008 5:41:28 AM PST
Orders to U.S. factories for big-ticket manufactured goods plunged in October by the largest amount in two years as manufacturing was battered by the overall economic weakness.

The Commerce Department says orders for durable goods dropped by 6.2 percent last month, more than double the 3 percent decline economists expected.

The report showed widespread declines throughout manufacturing led by decreases in autos and airplanes.