Orders for long-lasting goods unexpectedly fell during August, the second drop in three months as manufacturers struggle with a bad economy.Please bookmark!
Durable-goods orders decreased by 0.1% from the prior month to $201.76 billion, the Commerce Department said Wednesday.
Economists surveyed by Dow Jones Newswires had forecast a 0.2% rise in orders during August for durables, which are goods designed to last at least three years.
The drop followed a 4.1% surge in July and a 1.1% decline during June.
"The numbers portray a manufacturing sector that at worst, is treading water, and at best, slowly moving forward," IHS Global Insight analyst Patrick Newport said.
In an encouraging sign within the otherwise uninspiring report, a barometer used to gauge spending by businesses on equipment rose, indicating the U.S. might avoid a second recession.
Wednesday, September 28, 2011
Durable-Goods Orders Down "Unexpectedly"
I demand more of the word "unexpectedly!" The liberal media never seems to use it:
Posted by Aurelius
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