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BRIEFLY

The Economy

August 25, 1995| Times Staff and Wire Reports

Reports Indicate Slowdown: Factory orders for big-ticket durable goods fell for the fifth time this year, and claims for jobless benefits rose for a third consecutive week, in new signs of sluggishness in the economy, the government reported. The Commerce Department said that more than 75% of the orders drop in July was due to a decline in the automobile industry, stemming from a two-week shutdown of production lines for model changeovers. Orders in July fell 1.7% to a seasonally adjusted $156.4 billion. The decline was the largest since a 4.6% drop in April. Separately, the Labor Department said first-time claims for unemployment insurance jumped by 10,000 last week to a seasonally adjusted 348,000, the third consecutive advance. Analysts had expected an increase of about 2,000.

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