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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (29479)	10/27/1999 9:02:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

The economic release shows <<September Durable Orders Fall 1.3 Percent Click on our sponsors! Updated 8:44 AM ET October 27, 1999 WASHINGTON (Reuters) - Orders for costly durable goods fell for the first time in five months in September, dragged lower by weak demand for new cars and aircraft, the Commerce Department said Wednesday. The value of new orders dropped by 1.3 percent to a seasonally adjusted $204.9 billion. That was a steeper decline than the 0.4 percent drop expected by Wall Street economists and the first dip in the series since a 2.4 percent contraction in April. Commerce said orders for transportation equipment, particularly new cars and aircraft, posted the sharpest decline, falling 3.9 percent to $47.1 billion after a 3.6 percent gain the previous month. Transportation products account for nearly one quarter of total durable goods, so swings in the sector have a significant effect on monthly orders. Excluding transportation, durables fell by 0.5 percent after a 0.2 percent gain in August. Orders for primary metals slipped 0.8 percent to a seasonally adjusted $15.5 billion after a 0.5 percent decline in August. Orders for industrial machinery and equipment rose by 0.4 percent to $39.6 billion after a 2.1 percent decline in August. Demand for electronics and electrical equipment gained 0.4 percent to $38.7 billion after a 1.5 percent gain the previous month. Shipments of finished goods fell 1.9 percent in September while unfilled orders rose by 0.6 percent. >> reading in line with housing and consumer confidence this is a good release that economy is not on its way to become over heated...