Skip to comments.Durable-Goods Orders Decline
Posted on 09/28/2011 7:37:33 AM PDT by Wpin
Orders for long-lasting goods unexpectedly fell during August, the second drop in three months as manufacturers struggle with a bad economy.
Durable-goods orders decreased by 0.1% from the prior month to $201.76 billion, the Commerce Department said Wednesday.
Economists surveyed by Dow Jones Newswires had forecast a 0.2% rise in orders during August for durables, which are goods designed to last at least three years. The drop followed a 4.1% surge in July and a 1.1% decline during June.
In an encouraging sign within an otherwise uninspiring report, a barometer used to gauge spending by businesses on equipment rose. Orders for nondefense capital goods excluding aircraft increased by 1.1%, after dropping in July.
(Excerpt) Read more at online.wsj.com ...
but consumer enthusiasm is going up.
There it is again - “unexpectedly”.
Does this imply that we’ll have to buy new cars, refrigerators, etc., at least every three years?
I have a money saving idea - every professional economist that has been “surprised” by recent down turns in the economy should immediately resign their government funded job.
If they are such consistent failures why are we paying them?
But, then of course, that is so judgmental and unfair.
Which, BTW, proves why governments at all levels need to be totally excluded from the economy.
Probably, because they don't make them like they used to.
Obama and his Leftist cronies are celebrating.
The media will cover for Obama by blaming:
1) the East Coast Hurricane
2) the Virgina Earth Quake
3) Wildfires in Central Texas
4) Peyton Manning’s injury
5) Herman Cain’s Racist Rhetoric
6) Jim Boeheim NOT wanting to play the ACC Tournament in Greensboro
7) The two barges,a tugboat, three canoes and a Cuban refugee raft ,all representing the Iranian navy deployed off the East Coast
8) Charlie Sheen’s roast on Comedy Central
9) Sarah Palin doing lines of coke off Glen Becks belly
10 ...and of course the old reliable GW BUsh