Durable-goods orders rise 1.9% for May, 1Q GDP revised slightly higher

Marketwatch ^ | 6.24.11 | Greg Robb

[Free Vulcan]

WASHINGTON (MarketWatch) — Stronger orders for airplanes translated into a better-than-expected 1.9% increase in durable-goods orders in May, the Commerce Department estimated Friday.

In a separate report, the government reported that U.S. real gross domestic product for the first quarter was revised to an increase of 1.9% on an annualized basis from the earlier estimate of a 1.8% increase. It marks the final revision to the measure of total output of goods and services in the largest global economy for the first three months of 2011.

[Mr. K]

More lies from Obama and his minions in the media.

Transportation alone accounts for this- if you look at the whole of manufaturing it was only 0.6 percent

And even that was UNEXPECTED (imagine that...) because they predicted 0.9%

They took the best sector of the statistics and used that as if it applied to all

There are now Lies, Damned Lies, Statistics, and a new low- Obama White House statistics.

[algernonpj]

[algernonpj]

Is That Durable or Transitory? aka Look what the cat dragged in this morning!

[algernonpj]

Parallel information: Why the Jobs Situation Is Worse Than It Looks

...From the moment the Obama administration came into office, there have been no net increases in full-time jobs, only in part-time jobs. This is contrary to all previous recessions.

...The real job losses are greater than the estimate of 7.5 million. They are closer to 10.5 million, as 3 million people have stopped looking for work. Equally troublesome is the lower labor participation rate; some 5 million jobs have vanished from manufacturing, long America's greatest strength. Just think: Total payrolls today amount to 131 million, but this figure is lower than it was at the beginning of the year 2000, even though our population has grown by nearly 30 million. ...

[familyop]

Fall will be interesting.