Posted on 12/23/2015 12:17:05 PM PST by BenLurkin
Military spending helped prop up November's headline figure. Orders for defense capital goods surged 44.4% last month including a 46.9% increase in orders for defense aircraft and parts. Excluding defense, orders for durable goods fell 1.5% in November after increasing 3.0% in October.
Durable-goods orders excluding the often-volatile transportation category fell 0.1% in November from the prior month after rising 0.5% in October.
A closely watched proxy for how much businesses are spending on new equipment-orders for nondefense capital goods excluding aircraft-fell 0.4% in November from the prior month after rising by a downwardly revised 0.6% in October. New orders in the category were down 3.6% through the first 11 months of 2015 compared with the same period a year earlier.
"Unless we see a big rebound in December or upward revisions, it appears that investment in equipment contracted in the fourth quarter," said Paul Ashworth, chief U.S. economist at Capital Economics, in a note to clients.
(Excerpt) Read more at wsj.com ...
Chase and Goldman have told their clients that there is a 70% chance that 2016 the economy will shrink
Business is probably worried that clinton might win....
The problem is we have exported (far) too much of our own industrial base to the People’s Republic of China, where Americans cannot even own things.
Massively we are on the wrong path.
We are making our own mess. Big time.
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