Orders for Defense Goods Rise in August, Other Durables Fall
U.S. manufacturing orders fell sharply last month, but orders for defense goods rose. Figures released by the Commerce Department on Thursday showed nationwide durable goods orders falling 3.1% in August to $167 billion, after having risen 1.4% in July.
Defense goods, still a critically important sector for California, were one of the only categories of manufactured goods to see an increase in August. Orders for defense goods rose 9% to $5.2 billion in August, after a steep 40.9% decline in July.
Employment figures released late last week show that the defense industry gained 300 California jobs in August and has gained 1,400 since February, when defense employment reached bottom at 163,400. This level represents a 60% decline from the industry's 1987 high water mark.

Volume 3, Bulletin 34 -- September 26, 1996