The greatest economic expansion in 500,000 years continues with no end in sight. Durable goods orders fell 4.2% in March. February’s numbers were revised downward as well, after initially showing an increase. Despite this drop, many Americans think the economy is booming and things are great!
Demand for long-lasting U.S. manufactured goods dropped by the most in three years in March and a gauge of business spending plans fell, suggesting factory activity lost momentum as the first quarter ended.
Durable goods orders tumbled 4.2 percent, the largest decline since January 2009, the Commerce Department said on Wednesday after a downwardly revised 1.9 percent increase in February.
Economists had forecast orders for durable goods, which range from toasters to aircraft, falling 1.7 percent after a previously reported 2.4 percent rise in February.
Orders were dragged down by a 12.5 percent plunge in bookings for transportation equipment — the most since November 2010.
Excluding transportation, orders fell 1.1 percent after a 1.9 percent rise in February. Economists had forecast this category rising 0.5 percent.
None of this will make a dent in the worship of the Pharaoh.
Tags: Durable Goods
