Business Services Industry
Commerce Department Reports Drop in Durable Goods Orders, New Home Sales.
Knight Ridder/Tribune Business News, December, 2003
By Michael Oneal, Chicago Tribune Knight Ridder/Tribune Business News
Dec. 25--Couldn't they have waited until after Christmas?
Just when it seemed that the economy was pointed in the right direction, two reports emerged on Wednesday that cast a shadow over the recent spate of good news.
The Commerce Department reported that orders for durable goods fell 3.1 percent in November, signaling a pause in the budding recovery among U.S. factories.
The drop, coming after a summer of robust growth in orders, was the steepest in more than a year and surprised economists who had been expecting a 0.8 percent increase.
In a separate report, Commerce said that sales of new homes fell 2.4 percent, the third monthly decline in a...
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