Fourth-Quarter Slump

The latest preliminary statistics for the manufacturing sector indicate that the fourth quarter of 2006 was a relatively stagnant period for the industrial economy. Shipments of manufactured goods advanced only 0.1% in both October and November, after falling 4.2% in September. Sales of durable goods gained 0.2% in both months, while nondurables were unchanged in November after two months of decline. Barring substantial increases in the final days of the year, it appears that fourth-quarter data on shipments of manufactured products will show a decline. Chemical...

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