Posted on 08/25/2010 5:55:16 AM PDT by WWRD
"New orders for long-lasting U.S. manufactured goods rose far less than expected in July and, excluding transportation equipment, posted their largest decline in 1-1/2 years, according to a government report on Wednesday that pointed to a slowdown in manufacturing."
"The Commerce Department said durable goods orders rose 0.3 percent after a revised 0.1 percent fall in June. Excluding transportation, orders dropped 3.8 percentthe biggest fall since January 2009after rising 0.2 percent in June."
"Analysts polled by Reuters had forecast orders increasing 2.8 percent last month from June's previously reported 1.2 percent fall."
(Excerpt) Read more at cnbc.com ...
Everything the Democrat party has done under the leadership of Obama has been “unexpected”...Unexpected deficits, unexpected drop in employment, unexpected taxes, unexpected sales of homes, unexpected bankruptsies,...
Now, if we could just get them to "expect" the obvious...
In other words, analysts at Reuters forecasted sales to be TEN TIMES higher than they actually were.
I think they need new forecasters.
In other words, analysts at Reuters forecasted sales to be TEN TIMES higher than they actually were.
I think they need new forecasters. ******************** Are these the same forecasters who predict Global Warming?
Exactly.
To the MSM, for sure...
This ought to be good for another 100 point drop in the Dow.
Even the extremely modest gain was due to airlines upping their orders on planes. No relations to the ordinary consumers.
The reaction to this news was swift. Futures have dipped below the 10,000 mark.
But Obama has a formula he learned from a Marxist professor: “Skittles x Unicorns = Utopia”. Of course I have a formula, “Garbage in = Garbage out”, that negates it. I got a B in Accounting at Bentley College. What did Obama get?
"Far less than expected..."
Wow, that was an Unexpected phrase that happened unexpectedly
Start polling some real analysts and get real forecasts.
Zero probably got just that.
“Durable Goods Orders Rose Far Less Than Expected”
Sorry, but this is a funny headline... designed only for the dumb downed....as they will only see “Durable Goods Orders Rose......” The....”Far Less Than Expected” part will not register with their minds
Actually, the headline is a lie all together as the most meaningful measure of durable goods indicates a serious falloff of orders, as this sentence in the same article indicates:
“Excluding transportation, orders dropped 3.8 percentthe biggest fall since January 2009after rising 0.2 percent in June.”
Essentially, the headline is the polar opposite of reality.
I believe that the brief ‘recovery’ in the industrial goods sector late last year and earlier this year was due to companies using their cash to update and expand their labor saving technologies. This further enables them to hunker down in the hope of surviving the socialist storm.
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