new orders

New Durable Goods Orders Fall

New durable goods orders and new single-family home sales both fell sharply in February as recession worsens challenging the Presidential candidates

 

Two economic reports from the Census Bureau today reflect the deepening recession and an urgent need for the Presidential candidates to get serious about how they will address what could be a long and severe recession with lasting consequences.

Even with prices rising sharply, the nominal value of new orders for durable manufacturing goods fell another -1.7% in February after plunging by -4.7% in January. Nominal values of new durable orders is now down -8.6% since last July to the lowest levels since March 2007.

New Orders Durable Goods Feb. 08