Yuck. The print of -13% on durable goods orders is going to stick in the heads of anyone that is watching the world economic situation. It looks as though the U.S. is starting to catch up to rest of the world’s slowdown. We are in a global marketplace and when one major country catches the flu, it is boundto be spread around. Perhaps Mr. Bernanke knew of this a few weeks ago,
- Actual: -13.2%
- Survey: -5.0% (Mean: -4.7%, High: 4.0%, Low: -9.4%)
- Prior: 4.2% –> Revised: 3.3%
- August Durable Orders ex-trans -1.6% vs -0.2%
- Prior revised to -1.3% from -0.6%
Inventory levels are also showing that manufacturers are not getting enough orders to keep their inventory levels to a point that they can continue production at the same clip.