The durable goods report, a measure of longer lasting products (think washers and transportation) was not so durable on Thursday of last week. (Here is the actual report and here is the report from Econoday, one you can read.) This August 2012 monthly indicator fell very short of expectations and deep into negative territory.
Either a major pause occurred in August or something was fishy in the numbers. We think possibly both with more emphasis on the latter, but the downward move has caught our eye. In order to confirm or deny this release we will keep our eyes peeled on the local Federal reserve bank releases. While we do feel the economy is slowing, we do not think it slowed THAT much.
Here is the chart:
Have a Great Monday!
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