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Title: Capital Goods Orders in U.S. Climb, Signaling Investment Pickup
Source:
BBG
URL Source: http://www.bloomberg.com
Published: Jul 28, 2010
Author: Timothy R. Homan
Post Date: 2010-07-28 08:32:55 by war
Keywords: None
Views: 27866
Comments: 48
July 28 (Bloomberg) -- Orders and shipments for non-military capital goods excluding aircraft climbed in June, signaling investment by U.S. businesses picked up heading into the second half of the year. Such bookings increased 0.6 percent after jumping 4.6 percent in May, more than previously reported, figures from the Commerce Department showed today in Washington. Total orders for durable goods, those meant to last at least three years, unexpectedly dropped 1 percent, depressed by a decrease in demand for aircraft which is often volatile. Eaton Corp. is among manufacturers benefiting from a pickup in demand as companies in the U.S. and abroad update equipment that is helping to support the recovery. The gains will partially compensate for a slowdown in consumer spending that is causing the world’s largest economy to cool heading into the second half of the year. “The acceleration in capital goods orders should help sustain growth in business investment,” Aaron Smith, a senior economist at Moody’s Economy.com in West Chester, Pennsylvania, said before the report. “The fundamentals beneath this recovery appear good enough.” Economists forecast total orders would climb 1 percent, according to the median of 76 projections in a Bloomberg News survey. Estimates ranged from a drop of 1 percent to a 4 percent gain. The Commerce Department revised May orders to show a 0.8 percent drop compared with a previously reported decrease of 0.6 percent. Excluding Transportation Bookings excluding transportation equipment fell 0.6 percent compared with a projected 0.4 percent gain, according to the survey median. Commercial aircraft orders dropped 26 percent after falling 30 percent in May and surging 216 percent a month earlier. Boeing Co., the world’s second-biggest commercial-plane maker, said this month it received 49 aircraft orders in June compared with 5 in May and 34 in April. Industry data don’t always correlate with the government’s statistics on a month-to-month basis. Bookings for non-defense capital goods excluding aircraft are a proxy for future business investment. Over the past three months, these orders climbed at a 25 percent annual pace, up from a 15 percent gain in the three months to March, signaling companies are ramping up investment. Shipments of those items, used in calculating gross domestic product, increased 0.2 percent after rising 1.5 percent in May. Computers, Appliances Demand in June increased for computers, communications and appliances and electrical equipment. Eaton, the Cleveland-based maker of engine valves and transmissions, last week boosted its profit projections for 2010 on rising demand for truck parts and hydraulic systems. “This year is shaping up to be better than we had forecast,” Chief Executive Officer Sandy Cutler said in a July 21 statement. Growing demand from overseas is also helping American factories. Exports climbed 21 percent in the 12 months ended May, the biggest year-over-year gain since comparable records began in 1992, according to Commerce Department data. After gaining 17 cents against the euro from mid April to early June on mounting concern over the European debt crisis, the dollar has retreated about 11 cents since June 7 on growing signs the continent is weathering the turmoil. A cheaper dollar helps restore the competitiveness of American products abroad, contributing to higher sales. Recent reports showed Europe’s service and manufacturing industries unexpectedly accelerated in July, German business confidence surged to a three-year high and the British economy grew in the second quarter at the fastest pace in four years.
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#4. To: Badeye (#2)
Loser check required.
Badeye has a gay crush on ABBA
Check!
"Lets [sic] rent a room." ~ Jethro Tull to Rotara
The only think you should check, Fredo, is your IQ relative to a watermelon. Five will get you ten the melon is brighter :P
Am I a liberal or a conservative? - Fredo Mertz #19. To: Destro (#18) Wassup dude? Let's get this place rocking. Fred Mertz posted on 2009-11-20 11:51:06 ET Reply Trace Private Reply
You see the DURABLE GOODS ORDERS figure today?
Being a Democratic shill means you check your humanity at the door.
Where do you ***think*** this capital goods info came from?
Sorry, I just work up. Yeah, the durable goods figure is the one you're supposed to pay attention to here. The drop of 1.0% should scare you, but when you're a paid shill (and you must be as you just sit on LF all day shilling for the DNC) you don't let the truth get in the way of telling a good lie.
Being a Democratic shill means you check your humanity at the door.
Uh...no...NDCG is a GDP proxy, doof...
Ugh, no, you're focusing on the wrong data.
Being a Democratic shill means you check your humanity at the door.
What are your credentials, doof?
Degree in Laser Physics. I also, unlike you, didn't sleep through Micro and Macro Econ or accounting.
Being a Democratic shill means you check your humanity at the door.
Bad news there. We see a large increase in May, pretty darn good, but then the "increase" slows to almost flat. This slowdown is an obvious response to the death of the consumer. Housing had it's worst two months in history so we can expect to see further weakness in this data. No houses sold means no carpets, no new home furniture, no more jobs from tear-downs thus no new material. Sad news for the anti-American Democrats who care more about Obama then they do their fellow American.
Being a Democratic shill means you check your humanity at the door.
Hey, retard, aren't you supposed to be headed south to shoot messicans with that other 4um dipshit? Remember? You were going to share a hotel room with him. lol
Badeye has a gay crush on ABBA
Why would I stand in the way of a brown exodus from AZ to CA? I'm loving this law :P
Am I a liberal or a conservative? - Fredo Mertz #19. To: Destro (#18) Wassup dude? Let's get this place rocking. Fredo Mertz posted on 2009-11-20 11:51:06 ET Reply Trace Private Reply
His reputation would preceed him in those smaller SW towns. Too much room cleanup from his past 'trysts' was probably noted among the motel establishments. Two guys going at it can really ick up a room.
"See in my line of work, you got to keep repeating things over and over and over again for the truth to sink in, to kind of catapult the propaganda." --- George W. Bush (Rochester NY, 5-24-2005)
Durables is a very volatile series and the components of which often belie the headline number. Since transportation and aircraft are component elements and transportatiion and aircraft orders tend to be very volatile, the series requires analyzing ALL of the components as well as groups of components to get a better gauge of the series. THE MOST IMPORTANT forward looking indicator and possible GDP proxy is found in Non Defense Capital Goods Orders ex-aircraft. This component usually signals what corporate spending in the broader economy will be going forward. A continued positive in this component usually signals increased business activity going forward. ~~~~~~~~~~~~~~~~~~~~~~ You should apply for a tuition refund you got ripped off.
1. Take out the transportation numbers.....DG was still down. 2. Yes, I did "analyze" all the data. May +4.6%. That is good. June only up .6%, very weak compared to May. 3. The second straight decline in DGs orders, with a horrific three month trend in Housing is just another nail in the coffin of the economy. 4. Go to http://railfax.transmatch.com/. That's the rail-traffic report. It's all slowing down. Compare the 4-week rolling average to the year-to-date and you'll see what I mean. It's all slowing down or going negative.
Being a Democratic shill means you check your humanity at the door.
All indicators look positive to me and have been all year.
It is compared to May, doofus. May is compared to April...that's how it works. Apply for a tuition refund...either that or stay out of the way of your lasers...they are eating your brain.
Did you fail statistics also? Go back and this time put on your reading glasses. I said it's SLOWING DOWN. Are you incapable of critical analysis?
Being a Democratic shill means you check your humanity at the door.
Yes, and June was only up .6%. Did you not read the very post you put up? +.6% isn't anything to smile about when taking the other data in aggregate.
Being a Democratic shill means you check your humanity at the door.
Looks steady to me. You focus too much on month to month...
It was "only" up? Hoo boy...
You focus too much on month to month... Obviously you didn't read the entire chart. Quarter to date: Food: -6.5% Forrest: -2.2% (housing causing that). Coal: -3.6% Autos: +3.3% (big deal, 2009 was a horrific year). Of course it looks "steady to you" as you must be color blind and don't see the data in red.
Being a Democratic shill means you check your humanity at the door.
Gets shipped less by rail than by truck during warmer weather. If you knew anything, you'd know that.
Gets shipped less by rail than by truck during warmer weather. If you knew anything, you'd know that. War...concentrate now...that drop of 6.5% is compared to 2009. If you knew how to read a chart, you would have seen this. Or are you being deliberately obtuse? If so, we don't need to continue this conversation as your propensity to misquote, obfuscate and misdirect is really annoying right now.
Being a Democratic shill means you check your humanity at the door.
Which is less of a drop that 2009 versus 2008 experienced and it's actually UP for the year.
Ah! But if it's dropping so is the economy. And there in lies the rub! Obama has said repeatedly that things are getting better, not worse, food has fallen this year/quarter yty over a terrible year, 2009.
Being a Democratic shill means you check your humanity at the door.
Things are better. You can yell and scream and stomp and holler all that you want to. It' s not going to change the fact that they are.
Okay, I'll leave you with your delusions.
Being a Democratic shill means you check your humanity at the door.
You never contribute a thing to any forum you've ever belonged to Freddie. No go bet your government check on horse racing, LOSER.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
ZZZZ...zzzz...zzz...ZZZ... etc. ad nauseam...
"Lets [sic] rent a room." ~ Jethro Tull to Rotara
It's ad nauseum, you moron
------------------------------------------------------------------------------- Meet the new boss The last gasp of a dying Republic is a "living, breathing Constitution."
He's just upset that the big money in the racing industry is now dominated by Arabs instead of Jews as it was for so many years.
"See in my line of work, you got to keep repeating things over and over and over again for the truth to sink in, to kind of catapult the propaganda." --- George W. Bush (Rochester NY, 5-24-2005)
No go bet your government check on horse racing, LOSER. Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
ad nauseous It's ad nauseum, you moron Amusing the forums self appointed 'Grammar King' made that mistake.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
My spell check betrayed me. I ain't lying.
"Lets [sic] rent a room." ~ Jethro Tull to Rotara
Like I give a shit.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Why do you have to always get the last word in? Are you a girl?
"Lets [sic] rent a room." ~ Jethro Tull to Rotara
Why do you post nothing but personal attacks, or documentation of your gambling addiction, freddie?
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Hi girly, thanks for the confirmation.
"Lets [sic] rent a room." ~ Jethro Tull to Rotara
Why do you have to always get the last word in? Are you a girl? Why do you post nothing but personal attacks, or documentation of your gambling addiction, freddie? Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
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#5. To: Abu el Banat (#4)
Loser check required.
#6. To: Fredo (#5)
#7. To: war (#1)
When you call the Sucide Hotline and get a Pskistani call center, Nebby, if they ask you if you drive a truck...say "no"...
#8. To: Nebuchadnezzar (#7)
You see the DURABLE GOODS ORDERS figure today?
#9. To: war (#8)
Where do you ***think*** this capital goods info came from?
#10. To: Nebuchadnezzar (#9)
(Edited)
Yeah, the durable goods figure is the one you're supposed to pay attention to here.
#11. To: war (#10)
Uh...no...NDCG is a GDP proxy, doof...
#12. To: Nebuchadnezzar (#11)
Ugh, no, you're focusing on the wrong data.
#13. To: war (#12)
What are your credentials, doof?
#14. To: war (#0)
Such bookings increased 0.6 percent after jumping 4.6 percent in May,
#15. To: Jethro Tull (#6)
#16. To: ABBA DABBA DOO (#15)
#17. To: Abu el Banat (#15)
Hey, retard, aren't you supposed to be headed south to shoot messicans with that other 4um dipshit? Remember? You were going to share a hotel room with him.
#18. To: Nebuchadnezzar (#13)
(Edited)
#19. To: war (#18)
Since transportation and aircraft are component elements and transportatiion and aircraft orders tend to be very volatile, the series requires analyzing ALL of the components as well as groups of components to get a better gauge of the series.
#20. To: Nebuchadnezzar (#19)
http://railfax.transmatch.com/
#21. To: Nebuchadnezzar (#19)
#22. To: war (#20)
All indicators look positive to me and have been all year.
#23. To: war (#21)
It is compared to May, doofus. May is compared to April...that's how it works.
#24. To: Nebuchadnezzar (#22)
I said it's SLOWING DOWN.
#25. To: Nebuchadnezzar (#23)
Yes, and June was only up .6%.
#26. To: war (#24)
Looks steady to me.
#27. To: Nebuchadnezzar (#26)
Food: -6.5%
#28. To: war (#27)
Food: -6.5%
#29. To: Nebuchadnezzar (#28)
#30. To: war (#29)
Which is less of a drop that 2009 versus 2008 experienced and it's actually UP for the year.
#31. To: Nebuchadnezzar (#30)
#32. To: war (#31)
You can yell and scream and stomp and holler all that you want to. It' s not going to change the fact that they are.
#33. To: Fred Mertz (#5)
#34. To: Badeye (#33)
(Edited)
#35. To: Fred Mertz, Badeye (#34)
ad nauseous
Same as the old boss
#36. To: Fred Mertz (#34)
ZZZ...zzzz...zzz...ZZZ... etc. ad nauseous...
#37. To: Fred Mertz (#34)
You never contribute a thing to any forum you've ever belonged to Freddie.
#38. To: Ignore Amos, Fred Mertz (#35)
#39. To: Badeye (#38)
#40. To: Fred Mertz (#39)
#41. To: Badeye (#40)
#42. To: Fred Mertz (#41)
Why do you have to always get the last word in? Are you a girl?
#43. To: Badeye (#42)
#44. To: Fred Mertz (#43)
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