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Factory Orders Fall in September

November 3, 1999

WASHINGTON (AP) _ Orders to American factories for manufactured goods fell sharply in September as demand weakened for airplanes, cars and industrial equipment.

The Commerce Department reported today that factory orders declined a bigger-than-expected 0.9 percent in September, following a 1.3 percent rise the month before. Many analysts had forecast factory orders would fall by only 0.7 percent in September.

September’s performance marks the first decline since a 1.4 decrease in April, the government said.

Federal Reserve policy-makers meet next on Nov. 16 to decide whether to raise interest rates for a third time this year to slow the economy and prevent an outbreak of inflation.

Many economists believe that the odds are slightly in favor of a rate increase in November, but said it’s a close call.

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