Durable good orders fell in August

U.S. durable goods orders fell more than expected in August, dropping 2.4 percent, the Commerce Department reported Friday.

After a rise of 4.8 percent in July, economists expected new orders in August to rise 0.3 percent. But new orders fell for the second decrease in three months, dropping $4 billion to $164.4 billion, Commerce said.

Shipments of durable goods fell 1.4 percent or $2.4 billion to $171.3 billion after a 2.2 percent increase in July. Unfilled orders, down for 11 consecutive months, dropped 0.4 percent to $737.1 billion.

Durable goods inventories fell 1.3 percent to $308.9 billion, Commerce said.