Durable Goods Orders for June 2011
Data released at 5:30am PST for Durable Goods Orders for June came in at -2.1% reading. This compares to a reading of +1.9% for May. See the chart below of Durable Goods Orders by Month going back to 2008 Monthly, from Financial Sense web site. The Monthly data on the chart is in grey bars on the chart and I have included today's reading with a red X. You will notice the yearly trend is going down, not up, as you would expect with an economy recovering from a recession.
UPDATE: 8:06am PST
Haver Analytics has posted a chart of Durable Goods orders which go back further in time, which I have posted below. Notice that we have only gone below the zero point one other time since the 2008-2009 recession.
UPDATE: 8:06am PST
Haver Analytics has posted a chart of Durable Goods orders which go back further in time, which I have posted below. Notice that we have only gone below the zero point one other time since the 2008-2009 recession.
Labels: 2011, chart, declining, Durable Goods Orders, June
posted by Charles Amico at 5:32 AM
2 Comments:
I've been restrained in reading your posts.
Points to consider: If government spending is the answer to our problems then how come $4.5 trillion of government deficit spending in the last 2 1/2 years has not solved our economic problems?
What is Obama's plan - where is it and what is it i.e. in black and white? His demonizing others for his own results it appears is looking very childish. And point of fact - there is no Obama plan, just like there is no Obama budget!
If your child were bankrupt would it be advisable to get another credit card to max that out also?
Anonymous
I hear ya. But to add some facts, it is not the President's responsibility to put up a plan for this. It is Congress's responsibility to propose legislation and get it through both Houses of Congress. The President can sign the legislation or can veto it. That's his role.
Remember, all we are discussing is the raising of the Debt Ceiling, which has been done over 72 times since Reagan by a simple one line statement. The rest of the theatrics by both Parties is for the media and our consumption.
Now I do agree with you that the Administration has not put forth a Budget. And they should and must. But in this politically charged environment we all find ourselves, victimized by the process we all despise. We will all be spectators until the next election so that there is some change in the numbers in Congress and the Senate. Until that happens, better to enjoy summer the best you can. Thanks for your comment. Come back again.
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