Factory Orders Drop More Than Expected

By: Associated Press
By: Associated Press

The government says factory orders dropped for the second straight month in September as businesses cut back on purchases of steel, computers and other equipment amid the economic downturn.

The Commerce Department says factory orders dropped by 2.5 percent from August, much worse than the 0.7 percent drop analysts expected. That's on top of a revised 4.3 percent decline in August.

Excluding autos and aircraft, orders fell 3.7 percent, the steepest drop since 1992, when the department began tracking sector-specific changes.


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