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Reuters: Factory Orders Post ‘Surprise’ Fall

From the perennially blindsided Reuters:

Factory orders post surprise fall in April

June 4, 2012

WASHINGTON (Reuters) – New orders for factory goods fell in April for the third time in four months as demand slipped for everything from cars and machinery to computers, the latest worrisome sign for the economy.

The Commerce Department said on Monday orders for manufactured goods dropped 0.6 percent during the month.

The government also revised its estimate for new orders in March to show a steeper decline.

Another stealth revision. Notice we aren’t told how much they lowered it.

Economists had forecast orders rising 0.2 percent in April.

Are they ever right? And why do they always err on the side of Obama?

The report showed broad weakness in a sector that has carried the economic recovery, adding to a growing body of soft economic data in the United States…

The Commerce Department report showed new orders for motor vehicles and parts fell 0.5 percent in April…

And we thought the Chevy Volt was going to save the economy.

The government also revised downward its estimate for new orders of long-lasting manufactured goods in April…

Isn’t it funny how they almost always revise these numbers down. You would think that they would lowball their first estimates once in a while, just given the law of averages.

Instead, they always err on the side of being too optimistic. Which always gets them nice headlines from our never questioning news media.

This article was posted by Steve on Tuesday, June 5th, 2012. Comments are currently closed.

One Response to “Reuters: Factory Orders Post ‘Surprise’ Fall”

  1. GetBackJack says:

    Not to my cousin, whose factory has seen a staggering loss of manufacturing contracts from his customers – Mercedes Benz, Caterpillar, Target, Gaylord, etc. His customer’s sales have dropped so precipitously they simply quit. He’s scrambling like a duck on a griddle to keep the doors open on a 50 year old business that before Obama was highly successful.

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