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Recession Watch - Durable Goods Growth Slows In July, Core Capex Orders Decline 6 Straight Months
Durable Goods Orders rose a better than expected 2.0% in July (but that is notably slower than the 4.1% revised growth in June) mostly driven by another surge in aircraft orders which however was nowhere near last year's bumper Boeing-driven surge, resulting in a 20% drop Y/Y in the headline data. A more realistic assessment came from the durables ex-transports series, which rose just 0.6%, better than the 0.3% expected, and down 2.5% from a year ago. This is the 6th consecutive drop in the annual data.
Non-defense Capital Goods growth remains stagnant as core capex orders have also now been in deceline 6 straight months year-over-year. Finally, durable goods ex aircraft shipments also moderated, rising 0.6%, down from last month's upward revised 0.9%, and a paltry 0.5% up from a year ago.
The big Boeing order from last year washes through the NSA data:
But ex-Transports the data remains ugly YoY:
Non-defense Capital Goods remain stuck in a recessionary slump:
As Core Capex is now down 6 straight months YoY:
It may really be time for the economists, who still refuse to see any recessionary signals in the data, to invent some new climatic seasonal adjustments: at least it was record hot in July.
Charts: Bloomberg
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Gimme a damn rip to sell the fuck out of
Who cares about these numbers anymore..... The "markets" are concerned about what the clueless Chinese Central Bankers will do next.
Not today
So how is consumer confidence so high? Think they lied to us? I do!
Big headline numbers explains why PMs got slammed and yield and USD popped..... Way before the release. Who the fuck keeps leaking this shit to the select few?
Funny how are markets all depend on what the Chinese Central bank is doing now......that is the big news now...
Over at market watch it's skittles and unicorns .
http://www.businessinsider.com/durable-goods-orders-august-26-2015-8
It's all good in The Hood!
my business has been slow for the last 6 months. I was fortunate that I had repeat business that preserved my revenues. I was also fortunate to have time to conduct research and prepare for this downturn.
I guess that I can go ahead and kiss potential new business goodbye this fall
the bright side is I do have a business opportunity that is advantageous during downturns.
futures up over 300 so expect another selloff at the close. Marc Farber Sell the rallys. Dont buy the dips. http://finance.yahoo.com/news/expect-markets-to-fall-20-to-40-percent--m...
I think the financial mover and shakers are more likely to consider midget porn when pondering their next move than any data given on ZH
How exactly is Boeing supposed to do business without the taxpayer guarantee via the EX/IM bank?
Yet Reuters reports on the exact same news as follows:
"Core capital goods orders post largest rise in year"unbelievable!!