Factory orders slump 5.2% in August (by Steve Goldstein)
WASHINGTON (MarketWatch) -- Factory orders slumped 5.2% in August for the second drop in three months, the Commerce Department said Thursday. The big August drop came after a 2.6% gain in July. Economists polled by MarketWatch had anticipated a 5.9% drop after the collapse in durable-goods orders that the government had already reported. Excluding transportation, new orders rose 0.7%. Shipments fell 0.3%, while inventories rose 0.6% to the highest level since at least 1992.