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Post by jeffolie on Oct 4, 2007 8:08:39 GMT -6
Factory orders fall in August By MARTIN CRUTSINGER, AP Economics Writer 4 minutes ago WASHINGTON - Orders to U.S. factories fell in August by the largest amount in seven months, reflecting weakness across a wide swath of manufacturing. The Commerce Department said that orders dropped by 3.3 percent last month, even worse than the 2.8 percent decline that had been expected. It was the biggest setback since orders fell 4.2 percent in January. The fall-off was led by a huge plunge in demand for commercial aircraft, which fell by 39.9 percent. However, orders were also weak in a number of other industries, from autos to industrial machinery and home appliances. news.yahoo.com/s/ap/20071004/ap_on_bi_go_ec_fi/economy;_ylt=AlSDx4FiTZSbOV6GNN62ya2s0NUE
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Post by unlawflcombatnt on Oct 5, 2007 3:04:06 GMT -6
New Factory Orders are only up 0.2% year-to-date, compared with 2006. Shipments are down -$15 billion (or -0.5%) year-to-date, compared with 2006. For the same year-to-date period of 2006, Factory Shipments were up +$200 billion (or +6.9%) from 2005. This was from the original estimate for August 2006 year-to-date totals. But the August 2006 ytd numbers was later revised upward by another $132 billion--increasing the equivalent 2006 ytd gain (from 2005) to +$332 billion, or +11%. Thus, the year-to-date increase in Factory Shipments for 2006 was +$347 billion more than than the equivalent year-to-date change for 2007. (All numbers are in current dollars). US manufacturing is clearly in Recession.
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