Over the cliff: Durable goods orders drop 13.2% in August POSTED AT 8:39 AM ON SEPTEM

Discussion in 'Economy' started by Vel, Sep 27, 2012.

  1. Vel
    Offline

    Vel Gold Member

    Joined:
    Oct 30, 2008
    Messages:
    5,463
    Thanks Received:
    1,913
    Trophy Points:
    248
    Location:
    Tennessee
    Ratings:
    +1,914
    I thought Obama policies were making things better?Let's hope that it's not too late for America's turnaround specialist to fix this economy.
    ***************************************************

    A key measure of the economy, especially in manufacturing, just had the bottom fall out. Orders for durable goods dropped 13.2% in August, the worst decrease in almost four years, and a large signal that the American economy is diving into a recession:

    New orders for manufactured durable goods in August decreased $30.1 billion or 13.2 percent to $198.5 billion, the U.S. Census Bureau announced today. This decrease, down following three consecutive monthly increases, was the largest decrease since January 2009 and followed a 3.3 percent July increase. Excluding transportation, new orders decreased 1.6 percent. Excluding defense, new orders decreased 12.4 percent. Transportation equipment, down following four consecutive monthly increases, had the largest decrease, $27.8 billion or 34.9 percent to $51.9 billion.

    The news was even worse for capital goods, indicating that businesses have stopped investing in themselves:

    Over the cliff: Durable goods orders drop 13.2% in August « Hot Air
     
    • Thank You! Thank You! x 1
  2. blastoff
    Offline

    blastoff Undocumented Reg. User

    Joined:
    Nov 12, 2009
    Messages:
    13,597
    Thanks Received:
    1,718
    Trophy Points:
    245
    Location:
    In a galaxy far far away...
    Ratings:
    +4,677
    Not to worry. Barry's probably thinking another $800B - $1T in stimulus spending will fix our dying economy, provide jobs (nonshovel-ready 2.0) and maybe even get those Volts flying off the showroom floors.
     
  3. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    the final number for 2012 Q2 GDP was also announced as well, dropped 1.7% to 1.3%....but hey Obama will be having a shindig at Mariah Careys & Romney has toilet paper stuck to his shoe- thats the news;)
     
    • Thank You! Thank You! x 1
  4. LordBrownTrout
    Offline

    LordBrownTrout Gold Member

    Joined:
    Nov 25, 2007
    Messages:
    15,525
    Thanks Received:
    2,964
    Trophy Points:
    280
    Location:
    South Texas
    Ratings:
    +6,397
    Anyone that thinks that our economy can thrive in this massive debt environment is either mad, dumb, or ignorant.
     
  5. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,409
    [​IMG]
     
    • Thank You! Thank You! x 1
  6. Papageorgio
    Offline

    Papageorgio The Ultimate Winner

    Joined:
    May 18, 2010
    Messages:
    25,730
    Thanks Received:
    3,906
    Trophy Points:
    290
    Location:
    Here
    Ratings:
    +9,559
    This is not a good thing, we are hurting and this shows we need some help and leadership and all weare getting is campaign and rhetoric.
     
  7. Katzndogz
    Offline

    Katzndogz Diamond Member

    Joined:
    Sep 27, 2011
    Messages:
    65,659
    Thanks Received:
    7,418
    Trophy Points:
    1,830
    Ratings:
    +8,338
    Everything this regime has said in the last four years has been an absolute lie. Everything.
     
  8. Papageorgio
    Offline

    Papageorgio The Ultimate Winner

    Joined:
    May 18, 2010
    Messages:
    25,730
    Thanks Received:
    3,906
    Trophy Points:
    290
    Location:
    Here
    Ratings:
    +9,559
    Dems haven't got their talking points yet on how to answer this, but I know they will get their talking points and start spewing their BS very shortly.
     
  9. Papageorgio
    Offline

    Papageorgio The Ultimate Winner

    Joined:
    May 18, 2010
    Messages:
    25,730
    Thanks Received:
    3,906
    Trophy Points:
    290
    Location:
    Here
    Ratings:
    +9,559
    See, we are still waiting for the talking points from the Democrats. I wonder how much longer it will be?
     
  10. iamwhatiseem
    Offline

    iamwhatiseem Gold Member

    Joined:
    Aug 19, 2010
    Messages:
    14,833
    Thanks Received:
    3,114
    Trophy Points:
    280
    Location:
    Virginia
    Ratings:
    +6,128
    Industrial production is at it's lowest since May 2009.
    As a manufacturer I can tell you raw material suppliers are sweating bullets. This is supposed to be the best time of the year...well...it's not.
     
    • Thank You! Thank You! x 1

Share This Page