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The Recession Gets Deeper

Greg Robb of Marketwatch:

U.S. Sept. factory orders down sharply for second month: WASHINGTON (MarketWatch) - U.S. and foreign businesses sharply cut back their demand for capital equipment for the second straight month in September, the Commerce Department reported Tuesday. Factory orders fell 2.5% in September, much weaker than the 0.2% fall expected by economists surveyed by MarketWatch. Factory orders had fallen 4.3% in August, the biggest drop in almost two years. Orders for durable goods increased a revised 0.9% in September, up slightly from 0.8% estimated a week ago. But this gain was swamped by a 5.5% drop in orders for nondurable goods. Core capital equipment orders fell 1.5% in September after falling 2.3% in August.

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