U.S. Durables Goods Orders Increased 3.4% in March (Almost 5 Times Analysts' Estimates!!!)

Bloomberg.com ^ | 4/23/04 | Bloomberg.com

[NYC Republican]

U.S. durable goods orders rose 3.4 percent in March, almost five times the median forecast, signaling that corporate spending is helping drive the economy this year.

The increase in orders for items made to last at least three years exceeded all estimates in a Bloomberg News survey of 67 economists and followed a 3.8 percent rise in February, the Commerce Department said in Washington. Treasury securities fell after the report boosted speculation the Federal Reserve will begin raising interest rates sooner than many investors expected.

[oceanview]

that is true - this will translate into only a relatively small number of american jobs. but in general, using manufacturing employment as a measure of the economy isn't good, even China is losing manufacturing jbos. technology and automation simply requires far fewer people to turn out goods - we may see fully automated factories soon.

what is happening to white collar tech jobs through offshoring is still, in my opinion, the far bigger threat to our economy and wage base.

if Greenspan is going to raise rates, I hope he does 0.5 in June rather then .25 in June and again in August. The further away we keep "mr bubble" from meddling in the November election, the better.

[templar]

but in general, using manufacturing employment as a measure of the economy isn't good, ...

That's why I included the BOT deficit. If we weren't running a serious and increasing deficit, particularly with manufactured goods, I wouldn't worry much about things like manufacturing jobs. The outsourcing of High-tech jobs (white collar production), while retaining an American front label, is a means of disguising a BOT deficit in their respective areas; something hard to do with manufactured goods. Deficits = debt, and debts have to be repaid someday. Our current 'good' economy (for over a decade now) is really just a debt financed, and temporary, utopia. We need to be preparing for it's end, both Nationally and personally.

[NYC Republican]

More good economic news today... GDP is out Thursday, and it could be over 5%. Sizzling.