Posted on 04/24/2013 6:04:35 AM PDT by John W
WASHINGTON (MarketWatch) — Orders for big-ticket U.S. items posted the biggest drop in March since last summer, mainly because of fewer jetliner bookings but also as orders softened in most categories.
Orders for durable goods fell 5.7% last month to mark the biggest drop since last August, the Commerce Department said Wednesday in data suggesting the manufacturing sector cooled off a bit toward the end of the first quarter. Economists surveyed by MarketWatch had expected a 3.2% decline.
(Excerpt) Read more at marketwatch.com ...
I’m no economist but it would seem to me that “orders softened in most categories” isn’t good.
Someone he'p me out. Is that an annualized rate or is that an actual decrease of 5.7% over one month?
Bad enough if it's an annualized figure, it seems to me...
Buh, buh...but....all those new house sales - not enough houses....booming economy....blah blah....Nobody buying durable goods to go in those houses? Whassamatta? EITC checks only got the new homeowners as far as getting Rent-a-Center to furnish their new interest free home loans?
I think it’s actual. And, as usual with this bunch-Durable orders for February, meanwhile, were revised down to show a 4.3% gain from a prior reading of a 5.6% increase.
“New orders for manufactured durable goods in March
decreased $13.1 billion or 5.7 percent to $216.3 billion,
the U.S. Census Bureau announced today.”
http://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf
Actual for the month, but my calculator says 6.0%.
Wish I could edit the last post. Durable goods dropped from 229.4 billion to 216.3 or 5.7%.
I’m sure this is either Bush’s fault or due to Global Warming or the Tea Party.
"Recovery Summer" is just around the corner and we'll all be drinkin' free bubble-up, and eatin' that rainbow stew.
Never had rainbow stew. Been lookin’ forward to it. Recovery Summer, is just around the corner.
This was expected, right?
Well....
If you really want to be depressed take a look at the Baltic Dry Index.
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