March durables orders post biggest fall in three years

Rooooooters ^ | April 25, 2012 | Lucia Mutikani

[upchuck]

Durable goods orders tumbled 4.2 percent, the largest decline since January 2009, the Commerce Department said on Wednesday after a downwardly revised 1.9 percent increase in February.

Economists had forecast orders for durable goods, which range from toasters to aircraft, falling 1.7 percent after a previously reported 2.4 percent rise in February.

Orders were dragged down by a 12.5 percent plunge in bookings for transportation equipment - the most since November 2010.

Excluding transportation, orders fell 1.1 percent after a 1.9 percent rise in February. Economists had forecast this category rising 0.5 percent.

The report added to signs that manufacturing exited the first quarter with less momentum. Data last week showed industrial production was flat in March for a second straight month, while some gauges of regional factory activity weakened in April.

Manufacturing has been one of the main sources of economic growth, but is slowing as euro zone economies slide into recession and China cools.

The plunge in orders for transportation equipment reflected a 47.6 percent drop in bookings for civilian aircraft. Boeing received only 53 orders for aircraft, according to the plane maker's website, down from 237 in February.

Orders for motor vehicles barely rose last month.

[Kickass Conservative]

November 2012, I Hope it Changes...

[Kickass Conservative]

So, the “rise” was ONE HALF Percent LESS than expected and the “fall” was TWO and ONE HALF Percent MORE than expected.

Looks like a THREE PERCENT “unexpected” error to the worst from the people that the Politicians depend on to get their lies straight.

We are so screwed and Obama still has a 50/50 shot at remaining in Office. We truly live in the Bizarro World.

[Pollster1]

Looks like a THREE PERCENT “unexpected” error to the worst

Exactly. I wish I could believe they were simply incompetent, but it's phenomenally easy to get the numbers right within a much smaller margin of error. They are either so far out of their depth that I can't imagine how they ended up in so unsuitable a career, or they are intentionally lying to support the image of their chosen politicians.