durable goods

Positive Economic Reports Send Market Higher This Morning

October 25, 2012 By Leave a Comment

Wall StreetA better than expected durable goods report and good jobless claims data helped send stocks higher in early trading. Durable goods orders jumped nearly 10% in December, according to the Commerce Department, above the 7.1% rise most economists were expecting.

Weekly jobless claims came in down 23,000 to a seasonally adjusted 369,000. This was slightly higher than the 365,000 analysts were expecting. Last week’s figure was revised upward by 4,000. The Labor Department said all states reported data and nothing was unusual about the data. This comes a couple weeks after one large state failed to report their jobless claims numbers, skewing the jobless claims report to the downside for that week. [Read more...]

Filed Under: Blog, News Tagged With: , , , ,

Jobless Claims and Durable Goods Orders Jump

January 26, 2012 By Leave a Comment

New claims for unemployment rose last week to 377,000, up from last week’s nearly four-year low. Jobless applications have been on a downward trend over the past few months with the four week average at 377,500. Any number below 375,000 is seen as a signal that hiring is good enough to lower the unemployment rate.

The economy has added at least 100,000 jobs for six straight months now and the unemployment rate has dropped to 8.5%. Economists are expecting job gains of 160,000 a month in 2012. Many economic indicators including the jobs market showed improvement in late 2011. Factory output jumped in December and consumer confidence and spending rose. Consumer spending usually increases though as Black Friday and holiday shopping sends consumers to the stores.

Growth could slow down though as many economist believe that Europe falling into a recession is a forgone conclusion because of its debt crisis.

In other news, durable goods orders jumped 3% in December. “There is more horsepower to this economy than most believe,” said Sung Won Sohn, an economics professor at California State University, Channel Islands. “The stars are aligned right for a meaningful economic recovery.”

Stocks have given up most of their gains this morning as the Dow is positive, but the Nasdaq and S&P have turned negative.

Filed Under: Blog, News Tagged With: , , ,

Commerce Department Reports Durable Goods Orders Rise

November 23, 2011 By Leave a Comment

The Commerce Department reported on Wednesday durable goods orders excluding transportation rose 0.7% after a downward revision of 0.6% increase in September. Economists had forecast this category unchanged from the previously reported 1.8% rise.

Weak demand for transportation equipment saw overall orders falling 0.7% after declining 1.5% in September. Economists had forecast overall orders dropping 1.0% last month.

Shipments of manufactured durable goods in October, up five of the last six months, increased $2.6 billion or 1.3% to $203.0 billion. This followed a 0.5% September decrease. Transportation equipment, up following two consecutive monthly decreases, had the largest increase, $2.4 billion or 5.2% to $48.4 billion.

Unfilled orders for manufactured durable goods in October, up eighteen of the last nineteen months, increased $1.9 billion or 0.2% to $886.0 billion. This followed a 0.6% September increase. Machinery, up twenty one consecutive months, had the largest increase, $1.8 billion or 1.5% to $117.7 billion.

Inventories of manufactured durable goods in October, up twenty two consecutive months, increased $1.8 billion or 0.5% to $367.2 billion.

The tone of the Commerce Department’s report was weakened by a drop in non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending. The category fell 1.8% last month after a downwardly revised 0.9% rise in September. It was the largest decline since January, when it fell 4.8%. Economists had expected a drop of 0.6% from the previously reported 2.9% jump.

The Commerce Department also reported spending increased 0.1% last month, the poorest gain in four months. But incomes increased 0.4%, the best showing since March.

Filed Under: Blog, News Tagged With: , , ,
Real Time Web Analytics