9th
March
2008
Factory Orders Fall in Sign of Chill
posted in Car News Articles |
Via
NY Times
WASHINGTON (AP) — American factories saw demand for their products drop sharply, fresh evidence of an economy hobbled by housing and credit crises, the government said Wednesday.
Another report showed the country’s service sector continuing to contract, but by less than economists expected. The Commerce Department reported that new orders for manufactured goods fell 2.5 percent in January from the previous month. That marked a deterioration from December’s 2 percent increase and was the biggest decline in five months.
Meanwhile, activity in the nation’s service sector shrank in February for the second straight month.
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