Durable Orders TANK....Welcome to the "Recovery Summer"

White House Press Release

"Recovery Summer"

June 17, 2010

WASHINGTON, DC – The Administration today kicks off “Recovery Summer,” a six-week-long focus on the surge in Recovery Act infrastructure projects that will be underway across the country in the coming months – and the jobs they’ll create well into the fall and through the end of the year. The Recovery Act has already funded tens of thousands of projects and put about 2.5 million Americans to work, but summer 2010 is actually poised to be the most active Recovery Act season yet, with tens of thousands of projects underway across the country that will help to create jobs for American workers and economic growth for businesses, large and small.

Census Bureau Press Release

"Reality Summer"

August 25, 2010

July durable goods orders came in at 0.3%, significantly below the 3.0% that analysts were expecting.

Excluding autos, durable goods orders actually TANKED 3.8%, while analysts were looking for small growth.

New orders for manufactured durable goods in July increased $0.6 billion or 0.3 percent to $193.0 billion, the U.S. Census Bureau announced today. This increase followed two consecutive monthly decreases including a 0.1 percent June decrease. Excluding transportation, new orders decreased 3.8 percent. Excluding defense, new orders increased 0.3 percent.

Transportation equipment, also up following two consecutive monthly decreases, had the largest increase, $6.1 billion or 13.1 percent to $52.6 billion. This was due to nondefense aircraft and parts, which increased $4.0 billion.

July versus June Change
-15.0% Machinery-New Orders
-12.7% Computers and Related Products-New Orders

Link to complete Census Bureau Report

Report summary