WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000745968
<NAME> FEDERATED EQUITY FUNDS
<SERIES>
<NUMBER> 073
<NAME> FEDERATED NEW ECONOMY FUND - CLASS C
<S> <C>
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<FISCAL-YEAR-END> Oct-31-2000
<PERIOD-END> Oct-31-2000
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
