We noted last month that the jump in July durable goods came from a spike in commercial plane purchases, thus no surprise here that durable goods came full circle. Thus our surprise that "real" reporters and/or "real" analysts were "surprised".
New orders for long-lasting U.S. manufactured goods fell unexpectedly in August, dropping by their biggest margin in seven months, following a plunge in commercial aircraft orders, the government reported on Friday.
The Commerce Department said durable goods orders tumbled 2.4 percent, the largest decline since January, after rising by a revised 4.8 percent in July.
Analysts polled by Reuters forecast orders rising 0.5 percent in August. Compared with the same period last year, new orders were down 24.9 percent.
No comments:
Post a Comment