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Reaction mixed to Fed rate cut
The increase surprised many economists who had expected a decline. Orders had fallen by 5.5 percent in August, which was the biggest setback in nearly two years.
The big increase in orders for motor vehicles probably reflected the use of incentive packages by automakers trying to spur lagging demand during a generally dismal sales year. Orders for motor vehicles and parts had fallen by a sharp 8.8 percent in August.
About the Author
Sean Lengell covers Congress and national politics and can be reached at email@example.com.
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