New orders for manufactured durable goods in August decreased $30.1 billion or 13.2 percent to $198.5 billion, the U.S. Census Bureau announced today. This decrease, down following three consecutive monthly increases, was the largest decrease since January 2009 and followed a 3.3 percent July increase. Excluding transportation, new orders decreased 1.6 percent. Excluding defense, new orders decreased 12.4 percent. Transportation equipment, down following four consecutive monthly increases, had the largest decrease, $27.8 billion or 34.9 percent to $51.9 billion.
Over the cliff: Durable goods orders drop 13.2% in August; Update: Q2 GDP downgraded from 1.7% to 1.3% « Hot Air
Now Obama would like you to believe the economy is slowly recovering and that those “miraculous” unemployment numbers are falling. With more people out of work and others facing layoffs going into the end of the year, Obama is lying through his teeth about what this nation faces.