US durable goods orders drop in September

Washington: New orders for US manufactured durable goods dropped in September on a decline in volatile transportation orders, government data showed Tuesday.

New orders fell 1.3 percent month-over-month to $241.6 billion, the Commerce Department said.

Analysts had expected orders to rise a slight 0.6 percent.

The decline followed a steep 18.3 percent decrease in August, also driven by a sharp fall in transportation orders.

Excluding transportation equipment, orders slipped 0.2 percent in September.

Transportation orders slid 3.7 percent, led by a 16.1 percent dive in civilian aircraft orders.