Thursday, February 26, 2009

Depression in Durable Goods

The Government has released data on durable goods orders.

New orders are down 26% from a year ago ( down 28% excluding defense-related orders).

"Primary metals": down 41%.

Computers and electronic products: down 15%. (The sub-category of computers and related products was down 27%.)

Non-defense aircraft and parts: down 83%.

Non-defense capital goods: down 31%.

Conclusion: We are in, at best, a Great Recession.

Copyright (C) Long Lake LLC 2009

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