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Chris Wysocki
Caldwell, NJ
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Hey! I've moved to He's Pretty Fly For A Jersey Guy.
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Monday, 26 August 2013
Recovery Summer? Durable goods orders plunged 7.3% in July
This just in, our economy still sucks.
Orders for long-lasting U.S. factory goods fell sharply last month as demand for commercial aircraft plummeted and businesses spent less on computers and electrical equipment.
The Commerce Department said Monday that orders for durable goods plunged 7.3 percent in July, the steepest drop in nearly a year.
Durable goods are items meant to last at least three years. The drop suggests manufacturing continues to struggle after starting the year weak.
Economists focus on orders for so-called core capital goods, which exclude volatile aircraft and defense orders. Spending in that category fell 3.3 percent.
And so, manufacturing jobs contine to lead from behind.
Number of the Week: Manufacturing Nowhere Near Regaining Lost Jobs
22%: The share of U.S. manufacturing jobs lost during the recent downturn that has been regained during the recovery.
But according to Dear Leader the recession ended in June of 2009.
Unless, you know, you live in the Real World and not in a White House Bubble.
Fore!
Posted at 12:54 by Chris Wysocki
[/economy]
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