Durable goods orders fall 1 percent in June

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods fell broadly in June as the fragile recovery continued to slow.

The Commerce Department says demand for durable goods dropped 1 percent in June. It is the second straight monthly decline and the largest drop since August 2009.

Orders for commercial aircraft were down by more than a quarter. Without the volatile transportation sector, orders fell by 0.6 percent.

The decline hit most major industries, including machinery, primary metals and electronics. Motor vehicles, electrical equipment and appliances were among the few bright spots.

Consumers and businesses are reining in spending as the economy sputters. High unemployment and Europe’s economic instability also weighed on them in June.

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