Durable Goods Decline In August

This number along with the weak ISM suggest the economy is definitely slowing. Just the pretext the Fed needs to justify QE 2. They can say something like we don't want to print more money, but we must in order to help the economy. The great propagandist Edward Bernays would be proud. From the Commerce Department:
New Orders

New orders for manufactured durable goods in August, down three of the last four months, decreased $2.8 billion or 1.5 percent to $191.9 billion, revised from the previously published 1.3 percent decrease. This followed a 1.2 percent July increase. Transportation equipment, also down three of the last four months, had the largest decrease, $5.3 billion or 10.2 percent to $46.6 billion.

Shipments

Shipments of manufactured durable goods in August, down following two consecutive monthly increases, decreased $3.1 billion or 1.6 percent to $198.0 billion, revised from the previously published 1.5 percent decrease. This followed a 2.5 percent July increase.Transportation equipment, also down following two consecutive monthly increases, had the largest decrease, $3.1 billion or 5.8 percent to $49.5 billion.

Shipments of manufactured nondurable goods, up following four consecutive monthly decreases, increased $0.7 billion or 0.3 percent to $217.1 billion. This followed a 0.1 percent July decrease. Chemical products, up two consecutive months, led the increase, up $0.4 billion or 0.7 percent to $59.2 billion.

Inventories

Inventories of manufactured durable goods in August, up eight consecutive months, increased $1.3 billion or 0.4 percent to $312.4 billion, unchanged from the previously published increase. This followed a 0.6 percent July increase
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