H
Harry Hope
Guest
Demand for manufacturing equipment plunged by 13.3 percent, the
largest amount on record, while the category that is seen as a good
proxy for business investment fell by 2.6 percent, the biggest decline
in four months.
The problems in manufacturing are a reflection of weakness in the
overall economy as the country struggles with a prolonged slump in
housing, a severe credit crunch, soaring energy prices and higher
unemployment.
Economic growth slowed to a barely discernible 0.6 percent in the
final three months of last year, and many economists believe the gross
domestic product will turn negative in the current quarter, signaling
the start of a recession.
The 1.7 percent drop in orders for durable goods, items expected to
last at least three years, was worse than the 1 percent increase that
many economists had expected.
The weakness came even though orders for transportation equipment
rebounded with a 0.6 percent rise in February after a big 12.6 percent
plunge in January.
http://www.newsday.com/business/nationworld/ats-ap_business10mar26,0,6090721.story
Factory Orders Decline for Second Month
By MARTIN CRUTSINGER | AP Economics Writer
WASHINGTON -
Orders to factories for big-ticket manufactured goods fell for a
second straight month in February, a worse-than-expected performance
that provided more evidence of the economic troubles gripping the
country.
________________________________________________
Yup. Another Repug in the White House, that's the answer, right?
Harry
largest amount on record, while the category that is seen as a good
proxy for business investment fell by 2.6 percent, the biggest decline
in four months.
The problems in manufacturing are a reflection of weakness in the
overall economy as the country struggles with a prolonged slump in
housing, a severe credit crunch, soaring energy prices and higher
unemployment.
Economic growth slowed to a barely discernible 0.6 percent in the
final three months of last year, and many economists believe the gross
domestic product will turn negative in the current quarter, signaling
the start of a recession.
The 1.7 percent drop in orders for durable goods, items expected to
last at least three years, was worse than the 1 percent increase that
many economists had expected.
The weakness came even though orders for transportation equipment
rebounded with a 0.6 percent rise in February after a big 12.6 percent
plunge in January.
http://www.newsday.com/business/nationworld/ats-ap_business10mar26,0,6090721.story
Factory Orders Decline for Second Month
By MARTIN CRUTSINGER | AP Economics Writer
WASHINGTON -
Orders to factories for big-ticket manufactured goods fell for a
second straight month in February, a worse-than-expected performance
that provided more evidence of the economic troubles gripping the
country.
________________________________________________
Yup. Another Repug in the White House, that's the answer, right?
Harry
