U.S. Durable Goods Orders Declined 2.1% in September

[papau]

http://www.bloomberg.com/apps/news?pid=10000087&sid=aurO5JjSg2eM&refer=top_world_news

U.S. Durable Goods Orders Declined 2.1% in September

Oct. 27 (Bloomberg) -- U.S. durable goods orders fell more than forecast in September, a sign that rising energy prices may have made companies more wary about purchasing new aircraft, computers and communications equipment.

Orders for expensive items made to last several years dropped 2.1 percent after a revised 3.8 percent rise in August that was more than initially reported, the Commerce Department said today in Washington. Excluding transportation equipment, orders unexpectedly declined 1 percent last month after surging 5.1 percent, the biggest gain since March 2004.

Two hurricanes that drove up energy costs last month may have chipped away at corporate confidence and made companies circumspect about demand, economists said. The decrease in orders may be short-lived as companies replenish inventories and rebuilding efforts along the Gulf Coast spur demand, they said.

``This is a bit disappointing,'' said Doug Porter, deputy chief economist at BMO Nesbitt Burns in Toronto. ``I still think that business investment will be a major source of support for the expansion going forward because corporate balances sheets are very healthy.'' <snip>

A separate DU thread http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=1880827&mesg_id=1880827 reports on the Labor Department news that there was a decrease last week in the number of first-time jobless claims as new filings fell by 28,000 to 328,000 for the week ended Oct. 22.

[ClintonTyree]

1. Ouch!

The bush economic miracle seems to be coming apart at the seams! America is SO fucked with this cement-head in office for three more years. :cry:

[xchrom]

2. when did we have a bush economic miracle

to come apart at the seams?

i missed it, damn it!

[ClintonTyree]

3. I should have added....

:sarcasm: but I didn't think anyone would ever take me seriously. ;)

[hatrack]

4. Would Bush economic policies improve with a touch of His Noodly Appendage?

I'd sure like to think so! :toast:

[earthside]

5. Recession?

The only question is: are we entering a recession? Or will we look back in a few months and realize that we are already in the beginnings of a recession now?

:sarcasm: Thanks, Bushites and radical Republicans and timid Democrats for NOT doing anything about conservation and alternative fuels that has precepitated this inevitable economic decline.