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Orders for big-ticket manufactured goods plunge by the largest amount in 5 months

Orders for big-ticket manufactured goods plunge by the largest amount in 5 months

Manufacturers have gotten caught in the weakness that has engulfed the rest of America's economy. The government says that orders to U.S. factories for big-ticket factory goods plunged in January by the largest amount in five months.
The Commerce Department reported Wednesday that new orders dropped by more than 5 percent last month. That reflected declines across a wide swath of industry from commercial aircraft and autos to heavy machinery and computers.
The worse-than-expected 5.3 percent decline was the latest in a string of reports indicating that the economy, battered by a prolonged slump in housing, a serious credit squeeze and soaring energy prices, is in danger of toppling into a recession.


Updated : 2020-12-06 02:54 GMT+08:00