Durable goods orders, freight tonnage both drop in October

| Wednesday, November 28, 2007

There’s mixed economic news today. On one hand, retailers are reporting that Christmas season Internet sales exceeded their expectations. On the other hand, the usually robust trucking month of October actually saw a decrease in freight tonnage.

Preliminary reports from retailers show that Internet shoppers spent 45 percent more during this year’s Thanksgiving weekend than they did in 2006.

But, in terms of freight tonnage shipped in preparation of the holiday shopping season, the American Trucking Association reported that the total tonnage hauled by trucks in the U.S. in October was down 1.5 percent compared to 2006.

And The Wall Street Journal is reporting that orders for durable goods dropped nearly half a percentage point in October compared to 2006. Durable goods are expensive, long-lasting items such as cars, refrigerators and TVs and are generally hauled by truck.

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