A day late but heh, better late than never, and this way you can stuff yourself full of pie while reading….
New orders for manufactured durable goods in October decreased $6.8 billion or 3.3 percent to $196.0 billion, the U.S. Census Bureau announced today. This decrease, down two of the last three months, followed a 5.0 percent September increase. Excluding transportation, new orders decreased 2.7 percent. Excluding defense, new orders decreased 2.1 percent.
Transportation equipment, also down two of the last three months, had the largest decrease, $2.9 billion or 5.2 percent to $52.3 billion. This was led by defense aircraft and parts, which decreased $1.6 billion.
Ok, that’s a turkey.
Inventories of manufactured durable goods in October, up ten consecutive months, increased $1.3 billion or 0.4 percent to $316.7 billion. This followed a 0.7 percent September increase.
Machinery, up eight consecutive months, had the largest increase, $0.4 billion or 0.7 percent to $52.4 billion.
Ah, so we’ll keep building inventories into an order slowdown! That sounds good too….
Oh my. Remember my faves in this in terms of future and present hiring computers and electronics. But remember, we keep hearing that it’s all ok and getting better, and hiring will pick back up.
Uh huh. This is an all-on collapse.
Then we have unemployment claims. Gee, you think a little Black Friday hopium might be in here?
In the week ending Nov. 20, the advance figure for seasonally adjusted initial claims was 407,000, a decrease of 34,000 from the previous week’s revised figure of 441,000. The 4-week moving average was 436,000, a decrease of 7,500 from the previous week’s revised average of 443,500.
Ok, that looks decent – but remember, it’s holiday time, so we should expect some temporary hiring for the holidays.
Ah, but we’ll add another 300,000+ people to those without unemployment benefits (remember, the attempt to extend them again just failed too – this ought to get very interesting coming into Christmas!)
Those who think we’re getting “improvement” – uh huh. All we’ve had, as I’ve noted, is the Feral Government putting the former (falsely-inflated) economic activity on our credit card… and now the ugly turtle of reality is poking its head out of the rear sphincter.Hairy Hissmas!