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twitterReport indicates worst of recession is over
Tuesday, Feb. 5, 2002 | 9:47 a.m.
WASHINGTON -- Orders to U.S. factories rose by 1.2 percent in December, with gains posted for semiconductors, household appliances and machinery.
The advance in factory orders reported by the Commerce Department today came after orders fell by 4.3 percent in November and suggests that the nation's battered manufacturing sector may see better days ahead.
Manufacturers have borne the brunt of the recession that began in March. To cope, they have sharply cut production, trimmed hours and laid off workers. Last year, factories shed 1.3 million jobs, or about 7 percent of their work force.
But today's report, taken with other recent data, indicates the worst of the recession may be over for manufacturers.
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