Durable goods orders rise 2.9 percent in April. Good!

Discussion in 'Economy' started by Neubarth, May 26, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    This is a strong positive for the economy. Tied to the other rises, we are seeing growth that should be strong enough to start generating jobs. Again, we need strong job growth in a Service Sector Economy to help pull us out of this horrible Depression.
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    Durable goods orders rise 2.9 percent in April
    Durable goods orders post healthy April increase, propelled by surging demand for airplanes


    In this photo taken May 21, 2010, Chrysler assemblyman Michael Ricks works on the door assembly on the automaker's new 2011 Jeep Grand Cherokee at the Jefferson North Assembly in Detroit. The Commerce Department said Wednesday, May 26, demand for durable goods increased 2.9 percent last month. It was the best showing in three months and more than double the 1.3 percent gain expected. (AP Photo/Carlos Osorio)

    Martin Crutsinger, AP Economics Writer, On Wednesday May 26, 2010, 8:52 am

    WASHINGTON (AP) -- Orders to U.S. factories for big-ticket manufactured goods surged in April, propelled by a rebound in demand for commercial aircraft.

    The Commerce Department said Wednesday that demand for durable goods increased 2.9 percent last month. It was the best showing in three months and more than double the 1.3 percent gain expected. Excluding transportation, orders fell 1 percent after posting a sizable 4.8 percent rise in March.

    A durable good is a product expected to last at least three years.

    The big rise in overall orders was further evidence that manufacturing is helping to drive the rebound. U.S. companies are benefiting from rising demand both at home and in major export markets.

    However, there are concerns that a debt crisis in Europe could derail the global recovery. Financial markets have been roiled in recent weeks by fears that the problems facing Greece could spread to other heavily indebted European countries, such as Spain and Portugal.

    For April, the 2.9 percent rise in orders was led by a 228 percent surge in demand for commercial aircraft. The increase reflected strong demand for aircraft manufactured by Boeing Co. It also more than offset a 71.2 percent plunge in March in this highly volatile category.
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    Let us hope that all of this European nonsense does not ruin our opportunity to start generating jobs for the first time in three years. Kick Greece out of the Euro club and have France annex Spain and Portugal and lets get going. If Ireland can not manage a budget, let Scotland annex them. The Irish never were very smart, but at least the Scots and Irish together could create the Republic of Celtia free of the annoying English.

    Just a little humor there.

    I know that overall Durable Goods orders were Down One Percent, but the orders for Boeing Aircraft has the Transportation Durable Goods orders continuing an increase. Now, if all of those Jet orders are canceled, we will go into the Dark Ages economically. Surly, that could never happen.
     
    Last edited: May 26, 2010

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