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Factory Orders Drop by 4% in August Oct 3, 2008 |
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Orders to U.S. factories fell by the largest amount in nearly two years in August. The Commerce Department reported that orders for manufactured goods dropped by 4% in August, compared to July.
Orders for non-defense capital goods excluding aircraft, fell by 2.4%, the biggest setback in this category 19 months.
The report on manufactured goods showed that durable goods dropped by 4.8% in August. Orders for nondurable goods, items such as petroleum products, food, and clothing, fell by 3.3%.