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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (332128)	3/6/2007 11:28:41 AM
From: Secret_Agent_Man	Read Replies (1) \| Respond to of 436258

WASHINGTON (AP) -- Orders to U.S. factories fell by the largest amount in 6 1/2 years in January, reflecting widespread declines across a number of industries. The Commerce Department reported that total orders dropped by 5.6 percent in January, the biggest decline since July 2000, a period when the economy was slowing sharply in advance of an actual recession which began in 2001. The government said that orders for big-ticket durable goods plunged by 8.7 percent, even bigger than the 7.8 percent drop that had been reported a week ago. That report, which increased worries about the economy's health, played a role in the 416-point single-day drop in the Dow Jones industrial average a week ago. The report on factory orders, coupled with other data showing weaker-than-expected activity, have raised concerns that the current economic slowdown may be more serious than previously expected. However, Federal Reserve Chairman Ben Bernanke told Congress last week that he had seen nothing in the latest reports to change the Fed's outlook for moderate growth this year. rofl