October factory orders drop more than expected

WASHINGTON (AP) - December 4, 2008

The Commerce Department says factory orders dropped 5.1 percent in October, the largest decrease since an 8.5 percent fall in July 2000.

It was larger than the 4 percent drop that economists had been expecting. They believe manufacturing will continue to be under pressure for many more months, reflecting a deepening recession that is already the longest slump in a quarter-century.


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