Advance October 2009 Durable Goods

The Advance Durable Goods report is out for October 2009. Not good. New orders are down 0.6%.

 

durable goods

New orders for manufactured durable goods in October decreased $1.0 billion or 0.6 percent to $166.2 billion, the U.S. Census Bureau announced today. This was the second monthly decrease in the last three months. This followed a 2.0 percent September increase. Excluding transportation, new orders decreased 1.3 percent. Excluding defense, new orders increased 0.4 percent.

Shipments and inventories were also down, shipping down 0.2% and the percentage for inventory decline is negligible. New Orders for machinery was down -8%, computers -7.2%. Defense capital goods new orders, down -18.4%.

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New Home Sales

I'm not writing up New Home Sales because I have nothing to say.

here is the press release.

The only thing that makes zero sense to me is the average sales price, $261k.

Frankly who can afford that??? Seriously the average family income that's still a whopping house payment.

Are we still having people sign up for mortgages they cannot afford?

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