Summary Box: Durable goods orders jumped in July (AP)

ORDERS RISE: A big jump in orders for airplanes and autos drove up demand for long-lasting manufactured goods in July, easing fears the economy might slip into recession. Orders for durable goods rose 4 percent.

BUSINESS SPENDING DROPS: A key measure of business investment dropped 1.5 percent, the steepest decline since January. That suggests companies may be pulling back on expansion plans.

STOCK MARKET IMPACT: Economists worry that the stock market plunge earlier this month could cause businesses and consumers to cut back spending, which could cause future orders to fall.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20110824/ap_on_bi_ge/us_durable_goods_summary_box

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