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Recession Countdown: Durable Goods Orders Drop Most Since March, Shipments Tumble
Durable Goods New Orders dropped 2.0% MoM in August, the biggest drop since March (but modestly beat expectations of a 2.3% drop). This extends the ex-transports YoY losing streak to 7 months of declines flashing recessionary warnings left and right. Perhaps most notable is the 0.2% drop in Capital goods Shipments (dramatically missing expectations of a 0.5% rise) and the weakest print since May.
Durable Goods New Orders YoY down for 7 consecutive months.
The less volatile ex-transports series stangated in August, on expectations of a 0.1% increase for the month, and dropping 3.9% Y/Y is now also down 7 months in a row.
But if headline durables were bad, than core capex in the form of capital goods non-defense ex aircraft both shipments and orders was a total collapse.
To wit: orders.
And shipments.
Paging the NBER: feel free to admit the US is in a recession any time now.
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Time for Old Yeller to raise rates to demonstrate the strength of the US economy
Meanwhile in Saudi Arabia:
Mecca stampede: 717 people killed, 805 injured in Hajj crush
http://www.rt.com/news/316363-saudi-stampede-haj-mecca/
Could expect another 6 months of these recessionary readings on durable goods.
On the other hand the new unemplyment claims were lower than expected so the hooker, waitress and bartender fields are still heathy.
Eventually you run out of people to file new claims. Almost a third of the country is long term unemployed and if the government has one good hiccup the riots will start....
Pretty convenient of the towel heads to carry around something to cover their faces in the event of a stampede. But the big question is whether it will be the guys who got stomped that get the virgins, or the guys that did the stomping?
The mistake everyone is making is treating as separate events the 2000-2001 dot.com bubble crash, the 9/11/2001 attack aftermath decline and the massive 2008 economic cratering. These events exist on a timeline that has its start in the actions of the Bush administration in 1991, when the "Brady Bonds" criminal enterprise theft of a total of 5 trillion dollars set in motion economic events still in force today. The U.S. economy never recovered from this Bush 41 crime family looting. So, expect more crashes and more unsolved murders until someone recovers what's left of that stolen 5 trillion dollars.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&add...
Then again, maybe Tom Flocco is not the best source for conspiracy information.
http://www.thetruthseeker.co.uk/?p=3717
Things are turning very EDDY
ie down the plug hole
Oh the Shiff is gonna hit the fan now
They should have packed the Syrian refugees in containers.
(sarcasm implied)
Durable goods are well into recession territory. Looks like all the intervention has done is spoof the other data for a while. The proverbial chickens are finally coming home to roost.
Very, very good news!
MOAR free money on the way...Only for the top, the bottom can suck it...Serfs!
Turn those charts upside down and you'll finally see the green shoots in the Obama recovery.
Blue skies are here again Obama can hit the back nine again.
... and don't forget the retail Bloodbath. Holdiay season shopping will no tbe much fun when you're a Broke middle class Donkey.
OK - we're officially now in a REPRESSION.
errr...Depression countdown is more apt
They've postponed what would have been a healthy colon cleansing and turned it into rectal cancer
Slowest moving shit storm in history. But the farts are getting louder.
lol ... thank you
Wait, im confused. I thought bad news was good for the market.... Has this changed? How long have I been asleep for? What year is this?
The FED better manufacture some cold and snow quick.