Wednesday, July 28, 2010

Durable Goods Off

ABC News details:

New orders for long-lasting U.S. manufactured goods unexpectedly fell for a second straight month in June, posting cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir largest decline since August, according to a government report on Wednesday that was furcá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r evidence economic growth cooled in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 second quarter.

The Commerce Department said durable goods orders fell 1.0 percent after a revised 0.8 percent drop in May.

Analysts polled by Reuters had forecast orders increasing 1.0 percent in June from May's previously reported 0.6 percent fall. But non-defense aircraft orders tumbled 25.6 percent in June after falling 30.2 percent cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 prior month. Overall orders were also pulled down by bookings for computers and electronic products, which saw cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir largest decline since October.
While not good news, to me this is just noise. Looking at cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 chart below, which shows cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 month over month change and three month change by durable good type, we can see that most sectors that fell, fell from sectors that have rebounded over cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 past three months (transportation equipment, capital goods, machinery, and cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 overall index).



My take? Things were never really as strong as market participants hoped and cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365y aren't as weak as some may now think...

Source: Census

2 comments:

  1. The Consumer Metrics Institute measures exactly this sort of activity, but in a real-time day-to-day style (via measurement of e-commerce activity which may be compiled immediately) and has been talking about cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 drop-off in durable goods for months now. What is surprising cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365n is that people are surprised by it! A good test of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 CMI's predictive power (which appears good at cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 moment...) is whecá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r factory/downstream reports like this for cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 next 2-3 months continue to show contraction, as cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 CMI indicates cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365y should...

    http://www.consumerindexes.com/index.html

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