DROP IN BIG-TICKET ORDERS BIGGEST IN 2 YEARS ANALYSTS SAY INTEREST-RATE HIKES ARE MAKING AN IMPACT.(BUSINESS)

Byline: MARTIN CRUTSINGER Associated Press

WASHINGTON Orders for big-ticket factory products took their steepest nose dive in 2 years in July, the government said Wednesday in a report that many analysts viewed as a sign that the Federal Reserve's interest rate increases were beginning to pinch.

The Commerce Department reported that orders for durable goods covering everything from bicycles to battleships plunged 4.2 percent last month following gains of 1.2 percent in June and 1.4 percent in May.

Some analysts insisted that the falloff, which was far larger than expected, was a statistical aberration and not a sign that the recovery being …