Durable Goods Orders Fall 6.2% in October

Durable goods orders fell 6.2% in October, the Commerce Department said Wednesday.

The credit freeze and falling sales helped orders fall more than twice as much as economists had forecast, Bloomberg reported. The drop was the biggest in two years.

Excluding transportation orders, bookings for goods meant to last several years decreased 4.4%, Commerce said.

Economists had expected orders to fall 3% after the 0.9% increase in September, and excluding transportation orders to fall by 1.6%, Bloomberg reported.

Durable goods include large items such as refrigerators and air conditioners. Trucking is a major beneficiary of durable goods manufacturing, hauling both components and finished goods.