March Factory Orders Take a Steep Dive (Biggest in 3 Years)

[RamboLiberal]

http://www.latimes.com/business/la-042705econ_lat,0,7406783,print.story?coll=la-home-headlines

Factory orders in March for big ticket items — everything from jet fighters to automobiles — took their steepest drop in nearly three years, according to a government report today that raised more concerns that the economy was running out of momentum.

<snip>

The disappointing durable goods report was the most recent piece of data that seemed to indicate that the economy might have hit a soft patch this spring, in part because of higher energy costs, analysts said.

"The combination of higher energy costs and a still very difficult pricing environment has probably spurred companies to cut back spending wherever possible, which could also be weighing on capital investment at the moment," said economist Joshua Shapiro in a research note for the consulting firm MFR.

New orders for manufactured durable goods in March fell 2.8% from the previous month to $194.0 billion, according to the Commerce Department. That was the third consecutive monthly drop in new orders and the largest decline since September 2002.

[vi5]

1. You must be mistaken...the economy is doing GREAT!!!!

I don't know where you could have possibly heard otherwise. Things like this are a sign of a booming economy dontcha know?

[ClintonTyree]

3. You must have been listening to Larry Krudlow...

the future is so bright you better be wearing a welding helmet. Larry is a dink. :eyes:

I heard yesterday (NOT from Larry, surprisingly) that "we inherited a recession from Bill Clinton and are now just climbing out of it". :puke: This made me want to hurl. Not only are they STILL blaming Clinton, but this recession has lasted 5 years now and we're just now climbing out of it? :wtf: The Slugs just keep changing the story as they go along. A couple of years ago we were OUT of the recessions, then we had a mini-recession, then we went to a bull market, now we're back in a recession and we're just climbing out of it, and it's STILL Bill Clinton's fault? :banghead: Make up your freaking minds already!

Nothing is EVER a result of their policies, unless it's something good of course. Everything bad that happens is STILL Bill Clinton's fault...5 years later. :grr:

[louis-t]

5. Same thing they said about the Reagan years

"Economy was S-O-O-O-O-O good during the Reagan-Bush years that it bottomed out in '91" Huh? It took 11 years for the economy to bottom out? In which of those years was the economic boom?

[leftofthedial]

2. a soft patch, a *%^&#ing soft patch!

This economy has been a disaster for the middle class ever since the bushgang started talking it down during the coup of 2000.

For the millions who have been unemployed or underemployed, have lost health-care benefits, have lost their dreams . . .

"soft patch"

bullshit

[DBoon]

4. That soft patch looks like quicksand to me

you know the type of soft patch that sucks you in

[fedsron2us]

8. More like the Grimpen Mire

n/t

[paineinthearse]

6. I didn't know there were any factories left!

Thought they had all gone offshore. At least manufacturing in the northeast has.

[tabasco]

7. The only thing propping up the flimsy Bush economy ...

is spending on the war machine. It can't last forever.

The price of PLYWOOD went up 30% because the Army was buying it all for bases in Iraq.

I am preparing for bad times ahead.

[drduffy]

9. search 'Peak Oil'

if you really want to be depressed. I am.

[Gloria]

10. I don't live in the richest town ....filled up today for the first time

in about a month..About $25 to fill a VW Golf with the lowest grade.
I can't imagine filling one of those HUGE diesel trucks, the ones that get 8 mpg and using it a lot, like driving 40 miles one way to work.

Wow! That makes a huge dent in the budget....