Orders for durable goods fell 8.7%, revised down from last week's 7.8% estimate. Last week's report on durable goods orders contributed to the large sell off in the stock market last Tuesday. Orders for nondurable goods fell 2%, the government said in the latest report.A weakened manufacturing sector has raised concerns about the durability of the expansion. With housing still falling sharply, many economists had counted on higher business investment spending to boost economic growth. But business spending has been weak, leaving it up to the consumer to hold up the economy.Many economists believe the slump in the factory sector is a temporary slowdown, caused by excessive inventories in a few sectors that should be worked off in a few months. Others, however, believe capital spending will not rebound to any significant degree.
Since Indiana remains tied heavily to manufacturing, I assume this is not good news.
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