Posted on 04/02/2009 1:49:29 PM PDT by Diana in Wisconsin
Washington, D.C. (AHN) - Orders for the goods manufactured in the United States increased in February for the first time in seven months, raising hopes that the economic downturn may be finally easing, an official report said Thursday.
The Commerce Department released figures in Washington showing that the new orders to the U.S. factories increased, breaking a six-month declining streak, by 1.8 percent or $6.1 billion to $352.2 billion.
This was the longest streak of consecutive monthly decreases since the series was first published by the Commerce Deparment in 1992.
The rise followed a revised 3.5 percent slump in January, from the initial estimation of a drop of 1.9 percent.
The market analysts on Wall Street had expected the new factory orders to increase by 1.5 percent in February.
Excluding transportation equipment including cars and aircraft, new orders increased 1.6 percent, the report said.
Durable goods orders in February increased by 3.5 percent, followed a 7.8 percent January decrease, while demand for for manufactured nondurable goods increased 0.3 percent.
New orders for non-defense capital goods excluding aircraft surged by as much as 7.1 percent in the last month, followed by a slump of 12.3 percent reported in January.
Factory orders for motor vehicles and parts rose 1.1 percent in February. Machinery, up following four consecutive monthly decreases, had the largest increase by 12.7 percent to $23.7 billion.
Shipments of computers and electronic products reported the largest decrease of 1.8 percent.
Inventories of manufactured durable goods in February decreased by 1.1 percent, followed a 1.1 percent January decrease, leading to a two-consecutive monthly drops.
Unfilled orders for manufactured durable goods in February dropped by 1.4 percent, compared to a 2.0 percent January decline.
It’s the the Magic Mullato working miracles!
I demand stuff made in the US, like footwear, bikes, pretty much everything. The biggest thing I’d want made in a foreign country, would be Marshall amps made in England.
I’d love to buy more USA made products, but for SO many things, there simply is no American supplier anymore.
Wal-Mart has 61,000 American suppliers. :)
I shop for most things on the second hand market; garage sales, thrift shops, church sales, etc. Even if I can’t get everything Made in the USA, at least I’m giving something one more ‘life’ before it heads to the landfill. :)
The US actually discourages manufacturing - among environmental regs, zoning, ambulance-chasing lawyers, insurance, OSHA, taxes, corrupt union organizers - our Gov’t has made it very risky and unprofitable to make anything in the USA, and much easier to have the Chinese do it.
I face it every day.
No one can compete with Chinese slave labor.
“..No one can compete with Chinese slave labor...”
It feels good to say it, but it’s just not true. Do Chinese have the same standard of living as Americans? NO, but neither do the Japanese, and the CHinese are improving daily.
China has its own problems, but the Chinese workers and managers I meet have a strong work ethic, are smart and focused. Americans are no slackers either, but unless our Govt gets our policies right, China will continue to eat our lunch and move right on to our dinner as well....
Has compensation for Chinese workers exceeded $2.00 per our yet? They aren't at all eating our lunch. They're doing former American jobs for 10% - 20% of what Americans were paid for the same jobs.
Not quite the Rah, Rah, they try harder scenario you presented.
The falling US dollar helps exports and hurts imports.
MAKE HERE, MAKE NOW = RECOVERY
I too shop the 2nd circuit...for fun but also to get some great buys.....practical things, but also collectibles....
anything made in America gets my consideration.....especially cast iron,baking wear, etc....anything with a “made in America” sticker plus a date to me will be sought after collectibles down the road to serfdom.......
I LOVE my anchor hocking Made In USA white bowls bought 2nd hand in Canada! Same with furniture....I hate buying new furniture....would rather re-cover it, although I’ve noticed most fabric is now made in CHINA!
“an official report said Thursday.”
What official report? Has anyone ever seen a report that is not named in the article?
Also, who from the Commerce Department put out this unnamed report?
I hear ya bro...!
Must be all the DVDs and iPods Pres’ent Obama is giving out.
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