Shutdown fallout? Business outlays down 2% in October
Businesses spent less last month on machinery, computers and most other items, lowering orders for U.S. long-lasting factory goods. The decline suggests companies may have been reluctant to invest during the 16-day partial government shutdown
The Commerce Department said Wednesday that orders for durable goods dropped 2 percent in October from September. Durable goods are meant to last at least three years.
Demand for commercial aircraft plunged nearly 16 percent last month, accounting for much of the decline.