The U.S. economy will grow 2 percent this year, the least since 2002, based on the median estimate of 64 economists surveyed by Bloomberg News Aug. 30 to Sept. 7. Economists projected 2.5 percent growth at the beginning of the year.
Orders for U.S.-made durable goods fell in August by the most in seven months, raising concern business investment will soften. Demand for products meant to last several years fell a greater-than-forecast 4.9 percent after a revised 6.1 percent gain the prior month, the Commerce Department said today in Washington. Excluding transportation equipment such as airplanes, orders declined 1.8 percent after a 3.4 percent gain.
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