US durable goods decline for second consecutive month

Orders for US durable goods fell slightly less than expected last month, figures released on Tuesday showed.

According to the Commerce Department, orders for long-lasting goods declined 1.2% in September compared with the 1.3% decline analysts had forecast but marking their second consecutive drop.

August's reading was revised downward to show a 3% drop compared with the initial figure showing a 2.3% decline.

Excluding transportation orders fell 0.4%, while orders for core capital goods registered the second consecutive monthly decline falling 0.3%

However, shipments of core capital goods, a category used to help determine quarterly economic growth, rose 0.5% in September.