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02/10/2008 19:25

USA Today Editoweb 3 october 2008

Factory orders drop by 4 percent in August - Weak economy pushes jobless claims to 7-year high - Jobless claims pushed to 7-year high.



Factory orders drop by 4 percent in August

factories plunged by the largest amount in nearly two years in August as the credit strains began to hit manufacturing with full force.

Weak economy pushes jobless claims to 7-year high

Tight credit is taking a toll on manufacturing and jobs.

Jobless claims pushed to 7-year high

New claims for unemployment benefits jumped last week to their highest level in seven years due to the impact of a slowing economy and Hurricanes Ike and Gustav, the Labor Department reported Thursday.

Economic fears, credit woes sink stocks

Stocks fell on Thursday as tight credit markets and bleak economic data left investors focused on the rocky road still ahead for the U.S. economy even if Congress passes a $700 billion rescue package this week.

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