Demand for big-ticket items down in Jan. |
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Published
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Tue, 27 Feb 2007 14:51
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WASHINGTON (AP) - Orders to factories for big-ticket manufactured goods plunged in January by the largest amount in three months with the weakness led by a huge drop in demand for commercial airplanes.The Commerce Department reported Tuesday that orders fell 7.8 percent in January compared to December. It was the biggest one-month drop since an 8.1 percent plunge in October and was far larger than Wall Street had been expecting.The decline was led by an 18 percent plunge in transportation orders, reflecting a big decline in orders for commercial jetliners and continued weakness in auto manufacturing. But there were widespread decreases in a number of other industries as manufacturing continued to be affected by an overall economic slowdown.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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