Durables Orders in U.S. Fall 0.5 Percent (expected was a drop of 0.3%)

The Commerce Department reported Friday that orders for durable goods — costly manufactured products expected to last at least three years — declined by 0.5 percent (more than the 0.3% that was expected after factoring in the expected aircraft decreased sales)

http://www.bloomberg.com/news/index.html

Durables Orders in U.S. Fall 0.5 Percent

but todays Bloomberg media spin is "Orders increased at U.S. factories in August for a range of durable goods, including automobiles, metals and communications equipment, evidence manufacturing will help drive the economic expansion."

also from Reuters

Durable Goods Fall as Aircraft Orders Off

WASHINGTON (Reuters) - Orders for long-lasting U.S. durable goods slipped unexpectedly in August as demand for civilian aircraft plunged, but the data beat expectations once transportation was stripped out, government data showed on Friday.

Non-defense capital goods excluding aircraft -- which economists use as a gauge of business spending -- fell 0.5 percent.

Greenspan says that the economy is gaining traction and that growth is expected to be robust through the election cycle. Could he ever be wrong???

now that the manufacturing sector has been stripped out (and sent to China).

All this stripping is going to make us the horniest economy on earth. Somebody call the FCC!

eom

They always have an excuse don't they?

Jay

Just ratchet up some good ole' fashioned defense spending. We can never have to much arsenal to blow up the earth completely just in case we don't finish it off the first 20 times.

All glory based on foolish tax cuts is fleeting.