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.
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