Economic Growth

Sharp Slowdown in Manufacturing Expected

Nobody's actually building that, apparently

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Orders for long-lasting U.S. manufactured goods dropped sharply in August suggesting the main engine of economic growth was stalling, offsetting hopeful signs of an improvement in the labor market.

The Commerce Department said on Thursday durable goods orders dived 13.2 percent, the largest drop since January 2009, when the economy was in the throes of a recession. That primarily reflected weak aircraft and automobiles demand, although orders for a wide range of goods also fell.