I'm proud to report that there again reasons for us fiscal conservatives to fret about a recession. Remember that the working theory for continued growth was that as the housing bubble deflated, business spending would increase. Well ... it ain't.
------------------- Durable goods take surprising tumble Excluding transportation orders, index falls 1.1 percent in second consecutive monthly drop, Commerce Department says. December 22 2006: 8:49 AM EST WASHINGTON (Reuters) -- New orders for U.S.-made durable goods rose a larger-than-expected 1.9 percent in November on aircraft sales, but fell when airplane orders were stripped from the data, a government report showed Friday. Excluding volatile transportation orders, which are heavily skewed by aircraft, durable goods orders fell surprisingly by 1.1 percent, a Commerce Department report showed. It was the second consecutive monthly drop in durables orders excluding transportation, and the fourth decline in the last five months. Analysts polled by Reuters were expecting durables orders to rise 1.5 percent overall and also to gain 1 percent when transportation orders were stripped out. Transportation equipment orders rose 9.4 percent in November, bolstered by a 7.2 percent gain in civilian aircraft orders and a 40 percent surge in defense aircraft and parts. Excluding defense, orders rose 0.6 percent, slightly weaker than analysts' expectations of a 0.7 percent gain. Nondefense capital goods orders excluding aircraft, a proxy for business spending, dipped unexpectedly by 1.4 percent. Analysts had expected a rise of 0.9 percent. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Create robust enterprise, web RIAs. Upgrade & integrate Adobe Coldfusion MX7 with Flex 2 http://ad.doubleclick.net/clk;56760587;14748456;a?http://www.adobe.com/products/coldfusion/flex2/?sdid=LVNU Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:223105 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
