Newspaper article THE JOURNAL RECORD

Nation's Factory Orders Rise in August

Newspaper article THE JOURNAL RECORD

Nation's Factory Orders Rise in August

Article excerpt

WASHINGTON (AP) -- Orders to U.S. factories vaulted ahead in August on the strength of higher demand for airplanes and electronics in another sign of a resurgence in manufacturing.

The 1.3 percent gain in factory orders was the 12th increase in the past 15 months, the Commerce Department said Wednesday. Analysts had generally expected factory orders to rise 0.6 percent. Even that would have been brisk. "This is a pace that ensures significant production increases for the rest of the year and into 2000," said economist Joel Naroff of Naroff Economic Advisers.

The report, along with other recent manufacturing data, shows "that manufacturing is really healing from the global downturn from the past year or so," said economist Cliff Waldman of Waldman Associates in Arlington, Va. With overseas economies in recovery, demand for U.S. manufactured goods should continue to pick up through the end of the year, economists said.

"Almost every indicator for the factory sector is firming, which suggests accelerating factory activity in the months ahead," said Merrill Lynch senior economist Stan Shipley. …

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