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 percent—the biggest fall since January 2009—after 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 ...
“less than expected”
*drink*
Consumers are just not buying as much.
Because of the tenuous job situation, the ever worsening economy, consumers are saving more and spending less.
This situation will continue until we see some real job creation and robust economic growth and that is not going to happen until dems are defeated en masse in November.
If and when that happens, then you may see consumer confidence begin to return to previous levels.
But is it unprecedented?
Perhaps with all the hoopla and criticism of the overuse of “unexpected”, “Less than Expected” is the new mantra.../s
If nothing else, this should spur liquor sales
I don’t think the poster should be able to reply “unexpectedly”.
It’s not fair.
Is anything ever expected? You have to wonder about the so-called “experts”.
More like moonshine production. Booze is too expensive.
Unexpected??
“Inconceivable!!”
This economy is owned by this administration. More evidence they don’t have a clue.
Because of this terrible national economy, consumers will only spend money as needed and as situations arise.
Of course, consumers will still spend money on the essentials such as paying on their mortgages, for food, etc.
But consumers will not buy new clothing but wear old stuff in their closets rather than buy new, they will drive their old cars and not buy new; consumers will look for many ways to save as much money as possible in this economic depression.
I can't speak about other parts of the country but where I live prices on anything that is essential are still going up up up.
The sad irony to that is, after some actual economic growth based on higher consumer confidence, voters will lose their heads in 2012, thinking, "imagine how good it'd be if we had a Democrat Congress to help Obama make our lives happy."
What experts?
This administration knows nothing about business start ups let alone maintaining businesses and showing profits.
But they know a lot about demonizing wealth, community organizing, union thuggery, totalitarianism, fascism, bully boy behavior, nanny statism, playing the race card and class warfare.
We need better expecterers.
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