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IN BRIEF / THE ECONOMY

Orders for Durable Goods Drop 2.1%

October 28, 2005|From Bloomberg News

U.S. durable goods orders fell more than forecast in September as Hurricane Katrina pushed up fuel prices and chipped away at corporate confidence, suggesting that the economy slowed at the end of the third quarter.

Orders for expensive items made to last several years dropped 2.1% after a 3.8% gain in August that was more than initially reported, the Commerce Department said.

The Labor Department reported a decrease last week in the number of first-time claims for unemployment benefits as filings waned from workers displaced by hurricanes Katrina and Rita. Claims for benefits fell by 28,000 to 328,000 for the week that ended Saturday.

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