Durable Goods Orders Down by Most in 6 Months

posted by Nima

May 25, 2011 · Posted in Global Economics 

Bloomberg writes Durable-Goods Orders in U.S. Dropped 3.6% in April, the Most in Six Months:

Orders for U.S. durable goods dropped more than forecast in April, reflecting a slump in aircraft demand and disruptions in supplies of auto parts stemming from the earthquake in Japan.

The 3.6 percent decrease in bookings for goods meant to last at least three years was the biggest since October and followed a 4.4 percent surge in March that was larger than previously estimated, a Commerce Department report showed today in Washington. Economists projected a 2.5 percent April decline, according to the median forecast in a Bloomberg News survey.

We shall see if it was really just Japan’s quake that dragged this number down so severely.

European economies are slipping into recession or about to default, the Chinese Production Engine Begins to Stutter, Japan’s debt and pension crisis has entered its final stage, the US is in fiscal gridlock with no end in sight for the housing slump … excuse me but could it be that there is a global slowdown underway, setting the stage for a double dip?

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One Response to “Durable Goods Orders Down by Most in 6 Months”

  1. Christina Carabini on May 28th, 2011 4:09 pm

    RTTNews While the Commerce Department released a report on Thursday showing that new orders for durable goods rebounded in December following two consecutive monthly decreases the increase in orders was much smaller than economists had been anticipating..The report showed that durable goods orders edged up by 0.3 percent in December after falling by a revised 0.4 percent in November. Economists had been expecting orders to increase by about 2.0 percent compared to the 0.7 percent decrease originally reported for the previous month..Paul Ashworth Senior U.S. But actually looking at the details there are a lot of positives..Ashworth noted that while the report showed a 38.2 percent decrease in orders for non-defense aircraft and parts in December data from Boeing BA showed that the aircraft manufacturer booked orders for 59 aircraft in December a six-fold increase on the 9 aircraft ordered in November.

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