Tue Nov 27, 2012, 10:50 AM
Purveyor (22,860 posts)
Demand for U.S. Capital Goods Climbs in Spending Rebound
Demand for goods such as machinery and electronics climbed in October by the most in five months, signaling companies are starting to overcome concern the looming fiscal cliff will derail the U.S. economy.
Bookings for non-defense capital goods excluding aircraft, a proxy for future business investment, rose 1.7 percent last month, the most since May, the Commerce Department reported today in Washington. Orders for all durable goods were little changed, beating the median forecast of economists surveyed by Bloomberg that projected a 0.7 percent drop.
Eaton Corp. (ETN) is among companies saying customers are trying to find ways to meet rising demand even as they are concerned about the $607 billion in tax increases and spending cuts that may take effect next year if lawmakers don’t act. A rebound in business investment combined with gains in housing may point to a pickup in growth next year.
“Demand for durable goods has stabilized,” said Ryan Wang, an economist with HSBC Securities USA Inc. in New York, who forecast an increase of 0.9 percent in total orders. “It’s a positive sign.”
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Demand for U.S. Capital Goods Climbs in Spending Rebound (Original post)
Response to Purveyor (Original post)
Tue Nov 27, 2012, 04:08 PM
ROBROX (392 posts)
1. This seems to be a positive situation
but the GOP can not see anything except trouble for the next four years. The idea of helping this nation is very hard for these selfish people to accomplish. I think those who really believe in fixing this country instead of plotting to see this country suffer will push to keep this country going in the correct direction. Facts are easy for those who have understanding and the ability to reason. Those who see RED did not know anything but hate and suffering. It will be very hard for this country to fight those who are mad and want to continue the argument of hate and distrust.
Response to ROBROX (Reply #1)
Tue Nov 27, 2012, 04:28 PM
Purveyor (22,860 posts)
2. The first week right after the election, the rw talking-heads started on a meme of pumping bad
economic data. I imagine in their feeble minds that they think they can 'talk the economy down' but the natural business cycle is at work.
While I wish the economy was recovering a bit faster, it is my opinion that this slower recovery is building a stronger economic foundation versus a quickly inflating 'bubble'.
In the long run, we'll all be better off.