The mythical Obama Boom continues to make fools of the media. Once again, the so called economic experts were caught off guard. Durable goods fell 2.1%. The term unexpectedly is used yet again because the so called economist expected a rise.
New orders for long-lasting manufactured goods fell unexpectedly in June, weighed down by weak receipts for transportation equipment, a government report showed on Wednesday.
The Commerce Department said durable goods orders dropped 2.1 percent, reversing May’s downwardly revised 1.9 percent increase. Durable goods are items ranging from toasters to aircraft that are meant to last three years or more.
Economists polled by Reuters had expected orders to rise 0.3 percent last month after May’s previously reported 2.1 percent increase.
Who are these economists being polled? Do they work for the Obama Regime? They always expect good news, yet month after month just bad data rolls. Clearly they are holding onto the Obama Boom myth.
