Orders for U.S. durable goods unexpectedly slipped 0.6% in October amid expectations for a 0.5% rise, while the previous month’s reading showed a 2.0% expansion from an initial forecast for a 1.0% increase. At the same time, durables excluding transports tumbled 1.3% after rising a revised 1.8% in September, and businesses may keep a lid on spending going into the following year as global trade conditions remain subdued.

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U.S. Durable Goods Orders Unexpectedly Slump in October