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Reuters: Home Sales, Durable Goods Down, But…

From Reuters:

U.S. new home sales fall, but private sector expands

By Lucia Mutikani | January 27, 2014

WASHINGTON (Reuters) – Sales of new U.S. single-family homes fell more than expected in December, but lean inventories and steady price gains suggested the housing market recovery remained intact.

Economists largely shrugged off the second straight month of decline in sales, blaming frigid temperatures.

Really? The last three weeks of cold weather that only started after the first of the year for most of the country stopped people from buying houses in December? How does that work?

Other data on Monday showed an acceleration in services sector growth in January, backing views of sustainable strength in the economy…

And here is another example from Reuters from the same ‘reporter':

Durable goods orders stumble, but consumers perk up

By Lucia Mutikani | January 28, 2014

WASHINGTON (Reuters) – Orders for long-lasting U.S. manufactured goods unexpectedly fell in December as did a gauge of planned business spending, casting a shadow on an otherwise bright economic outlook.

The economy, however, has not completely lost its luster. Consumer confidence hit a five-month high in January and house prices posted their biggest year-on-year gain in almost eight years in November, other reports showed on Tuesday.

"This isn’t news that says the economy has lost upward momentum. It is steady as she goes for the economy," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York…

Boy, that Mr. Rupkey sure is ‘Johnny on the spot.’

Durable goods orders dropped 4.3 percent in December, weighed down by weak demand for transportation equipment, primary metals, fabricated metal products, computers and electronic products and capital goods. Last month’s decline was the largest since July and reversed November’s revised 2.6 percent rise…

The report put a wrinkle on the economy’s outlook, which had been bolstered by upbeat data on consumer spending and industrial production, and it raised concerns of slower growth in the first quarter.

Those concerns, however, were tempered by the rise in consumer confidence and house prices…

By the way, here are some ‘related stories’ that Reuters is currently pointing to:

Related Stories

Retail sales, inventory data suggest strong fourth-quarter growth – Reuters
U.S. industry shows muscle in late 2013 – Reuters
U.S. producer prices advance, but inflation still tame – Reuters

We realize it’s tiresome to complain about media bias day in and day out. But this is how our media guardians carry water for Obama, day in and day out.

Maybe it’s just us, but we don’t recall every bit of negative economic news during the Bush years being immediately followed by some invented good economic news.

In fact, we remember things being exactly the other way around. Every good bit of real economic news would be immediately followed up by some invented piece of bad economic news. Until the news media managed to talk us into a recession.

This article was posted by Steve Gilbert on Wednesday, January 29th, 2014. Comments are currently closed.

5 Responses to “Reuters: Home Sales, Durable Goods Down, But…”

  1. Pelosi-Speak: “This is great news!”

    • Rusty Shackleford

      “More people need to be on unemployment in order to save and create more jobs”

      This is from a book I read called, “Speaking Pelosi; The Language Of Idiots”.

      Or, maybe I just dreamed I read it cuz I can’t find it on Amazon anywhere.

      But she did say that every dollar spent on unemployment boosts the economy.

      So, when an earthquake comes and swallows her multimillion dollar home in San Fran, that will be, according to her, a big raise in her home’s value.

    • canary

      Pelosi getting spit out would increase the value of the US.

  2. captstubby

    “More people need to be on unemployment …”
    536 to be exact.

    • Right of the People

      And all of their fidoit staffs who actually write up all the crap they call laws too! If the legislators had to actually write bills we’d have no 2000 page pieces of excrement like Obama-Care.

      I’m all for turning Congress and the White House out completely but until they limit the number of staff these morons can have the problem isn’t going away. It’s the entrenched bureacracy that keeps the status quo going. I think a Senator should be allowed 5 staff members and Representative 3 max. Plus buy up a nice but definitely not a luxury apartment complex in the DC area where they have to stay when in town and give them a fleet of Chevey Impalas, Ford Taurus, etc. to drive. No chauffeurs no matter what. Make them live like a real person.


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