Record dive in July for durable goods

WASHINGTON Orders to U.S. factories for costly manufactured goodsin July took their biggest-ever recorded dive as demand fell sharplyfor airplanes and electronic equipment, additional evidence that theeconomy is finally slowing.

The Commerce Department said Thursday that the larger-than-expected 12.4 percent decline left orders for durable goods-itemsexpected to last at least three years-at a seasonally adjusted annualrate of $212.4 billion.

"The bottom line for America's manufacturers is that the economyis slowing to a more sustainable pace, with strong non-inflationarygrowth continuing but at a less accelerated rate," said NationalAssociation of Manufacturers' …