Factory orders improve

Friday, Aug. 31, 2001 | 11:01 a.m.

WASHINGTON -- Orders to U.S. factories increased slightly in July, led by increases in demand for autos, furniture, appliances and communications equipment, the Commerce Department reported.

The 0.1 percent increase followed a revised 2.9 percent drop in June. New orders so far this year are 6.8 percent below the same period last year.

Manufacturers have been hardest hit by the economic slowdown that began last year. To cope with flagging demand, companies have sharply cut production and capital investment and laid off thousands of workers.

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