Posted on 04/25/2012 6:09:00 AM PDT by 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.
(Excerpt) Read more at reuters.com ...
I reckon the reason for, "Orders for motor vehicles barely rose last month," is because Chevy has temporarily stopped making the Volt. /s
Green shoots...
Green shoots of negative growth that Leftists love!
Everything according to plan.
Pray for America
Mr. Obama needs to make a speech...
They have to be sending out for fresh underwear by the truckload over at the DNC these days.
There has just GOT to be some sort of skunkworks operation underway to try and kick Barry to the curb before its too late.
I thought we were in recovery?
Mr. Obama needs to make a speech...
______________
It’s ok....he slow jammed the news on Jimmy Fallen....All is well.
You would think that, but NO ONE in the party or their media is saying or doing anything about baraq.
NO dissent from any of them.
Tells me that they are all on board.
Remember, baraq has started telling his media how they are to report on stories. And they comply.
Yet... a week from Friday, we’ll be told the unemployment figures has dropped to 7.9% and the 0bameconomy produced 250,000 new “jobs” in April.
figures=figure
How will they spin this little tidbit.
The DOW is up 100 plus. nothing to see here, move along.
Actually, what the poorly written report says is:
Durable goods orders tumbled 4.2 percent . . . after a downwardly revised 1.9 percent increase in February. Economists had forecast orders for durable goods . . . falling 1.7 percent after a previously reported 2.4 percent rise in February. [red numbers go together, and green numbers go together]
The difference wasn't 0.7%, it was 2.5% and the adjustment to the previous month was another 0.5%. The magnitude of the change qualifies as unexpected.
I’m fully expecting the media to spin this as a net positive as a sign of a strengthening recovery.
How will they spin this little tidbit.
They won’t need to spin it. Very few people will even hear of this. And of those who do hear, few will understand what it means.
Please see Post # 16.
British economy sinks into double dip recession ...
LONDON — Britain slid back into recession in the first quarter of the year, according to official figures released Wednesday, undercutting the government’s argument that its austerity program was working.
The British economy shrank 0.2 percent in the first quarter after contracting 0.3 percent in the fourth quarter of last year, the Office for National Statistics said Wednesday. The first double-dip recession in the country since the 1970s ...
That’s not true.
Name names.
WHO in the dimrat party with any power is saying anything?
WHO in the dimrat party with any authority is doing anything to stop the kenyan communist?
When Bush was in office there was no shortage of senators, congresscritters, and so called conservative media types who daily bashed him.
NO ONE with any authority is even questioning baraq much less challenging him.
So based on that, they are all in with him.
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