By Glenn SomervilleWASHINGTON (Reuters) - New orders received by U.S. factories tumbled for a second straight month in September, underscoring the grim economy awaiting the winner of Tuesday's presidential election.
Overall factory orders dropped 2.5 percent to a seasonally adjusted $432 billion, according to a Commerce Department report. Economists were expecting a more modest 0.8 percent decline and the sharp drop in orders follows a 4.3 percent plunge in August orders, which was originally reported as a 4 percent decline.
Excluding transportation, orders plummeted a record 3.7 percent in September after a 3.6 percent August drop.
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