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U.S. factory orders fall for second straight month
New orders for U.S. factory goods fell for a second straight month in September as the manufacturing sector continues to struggle under the weight of a strong dollar and deep spending cuts by energy companies. The Commerce Department said on Tuesday new orders for manufactured goods declined 1.0 percent after a downwardly revised 2.1 percent drop in August. Factory activity, which accounts for about 12 percent of the economy, is also being constrained by efforts by businesses to reduce an inventory overhang and tepid global demand. But the worst could be over for the sector after a report on Monday showed new orders ... (full story)
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