P.M. BRIEFING : U.S. Factory Orders Unchanged
From Times wire services
WASHINGTON —
Orders to U.S. factories for manufactured goods, held up by a huge increase in defense orders, were unchanged in September, the government reported today.
The Commerce Department said orders for both durable and nondurable manufactured goods totaled a seasonally adjusted $236.7 billion.
But without the defense factor, orders actually declined 2.1%, the department said.
Defense orders rose 59.6% to $12.7 billion, the largest gain since a record 68.3% advance in June of 1988.
The report was the latest in a series of indicators showing a sluggish economy. The manufacturing sector has been particularly weak, prompting concern of possible layoffs and a rise in the unemployment rate.
