(Reuters) – Orders for long-lasting U.S. manufactured goods recorded their biggest drop in nearly a year in July and a gauge of planned business spending on capital goods tumbled, casting a shadow over the economyearly in the third quarter.

The Commerce Department said on Monday durable goods orders dropped 7.3 percent as demand for goods ranging from aircraft to computers and defense equipment fell. That was the biggest decline since last August and snapped three consecutive months of gains.  Read more