I reckon the reason for, "Orders for motor vehicles barely rose last month," is because Chevy has temporarily stopped making the Volt. /s
Green shoots...
Mr. Obama needs to make a speech...
Yet... a week from Friday, we’ll be told the unemployment figures has dropped to 7.9% and the 0bameconomy produced 250,000 new “jobs” in April.
How will they spin this little tidbit.
The DOW is up 100 plus. nothing to see here, move along.
Actually, what the poorly written report says is:
Durable goods orders tumbled 4.2 percent . . . after a downwardly revised 1.9 percent increase in February. Economists had forecast orders for durable goods . . . falling 1.7 percent after a previously reported 2.4 percent rise in February. [red numbers go together, and green numbers go together]
The difference wasn't 0.7%, it was 2.5% and the adjustment to the previous month was another 0.5%. The magnitude of the change qualifies as unexpected.
British economy sinks into double dip recession ...
LONDON — Britain slid back into recession in the first quarter of the year, according to official figures released Wednesday, undercutting the government’s argument that its austerity program was working.
The British economy shrank 0.2 percent in the first quarter after contracting 0.3 percent in the fourth quarter of last year, the Office for National Statistics said Wednesday. The first double-dip recession in the country since the 1970s ...