Durable Goods Collapsing
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.
There’s nothing good in here. That headline number masked monstrous weakness when one looks ex-transports. Most of the transport gains were in non-defense aircraft and parts.
Worse, if you remember, one of my leading indicators is computers and other technology products – specifically, the backlog.
Eek.
Backlog is basically gone, but what’s worse is that on a month-over-month basis new orders have collapsed. This puts the lie to the claim made by many that there will be any sort of meaningful support coming from technology. Sorry, but no.
Electrical equipment new orders were likewise down almost 6%. But the damage didn’t end there:
These things are the means of production and their new order flow is in all-on collapse.
Granted, this is a volatile series. But it is also “seasonally adjusted”, which means that we should not see large variations on a “random” basis, assuming that the “adjustments” actually are honest (and who knows if they are.)
This was a very weak report, albeit not something that I find unexpected. Indeed, I was wondering how long the so-called “inventory cycle” nonsense would come to an end.
The answer is, apparently, “now.”
market-ticker.org/akcs-www?singlepost=2142549
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).