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Sales Of Goods, Houses Up ‘Unexpectedly’

From the perpetually surprised Associated Press:

Durable goods orders rise unexpectedly in February

By Martin Crutsinger, AP Economics Writer

WASHINGTON – Orders to U.S. factories for big-ticket manufactured goods unexpectedly rose in February after a record six straight declines, but economists said the gains were unlikely to last as the recession persists.

The Commerce Department said Wednesday that orders for durable goods — manufactured products expected to last at least three years — increased 3.4 percent last month, much better than the 2 percent fall economists expected. It was the first advance since July and the strongest one-month gain in 14 months.

Last month’s strength was led by a surge in orders for military aircraft and parts, which shot up 32.4 percent. Demand for machinery, computers and fabricated metal products also rose.

Still, the rebound may be temporary. Upticks in retail sales and housing starts last month, along with a private sector group’s index of leading economic indicators dropping less than expected were welcomed, but none were viewed as sustainable given all the problems facing the economy…

And here is another items that somehow caught the Associated Press unawares:

February new home sales rise unexpectedly

By Alan Zibel, AP Real Estate Writer

WASHINGTON – The government says new home sales rebounded unexpectedly last month, but were still the second-worst on record and remained well below last year’s levels.

The Commerce Department says sales rose 4.7 percent in February to a seasonally adjusted annual rate of 337,000 from an upwardly revised January figure of 322,000. Even after the revision to January’s sales results, the month remained the worst on records dating back to 1963.

Economists surveyed by Thomson Reuters had expected February sales to fall to a pace of 300,000 units

Somehow it is only good news that surprises the economic mavens in our watchdog media.

Of course this is understandable, given how they have been telling us for years now that we are in an economic downturn far worse than the Great Depression.

This article was posted by Steve on Wednesday, March 25th, 2009. Comments are currently closed.

13 Responses to “Sales Of Goods, Houses Up ‘Unexpectedly’”

  1. proreason says:

    Yes, it is quite shocking to see new home sales rise after huge price cuts and interest rates the lowest of all time. Who could possibly have imagined that people would choose to live in brand spanking new homes with monthly costs lower than 20 year old apartments?

    And likewise, it is quite shocking to see a rise in purchases of durable goods that in many cases have declined in prices by about 20% or more, particularly since prices are scheduled to “skyrocket” by the Moronistration once the desired inflation kicks in.

    These mysteries are something that it would have simply been impossible to forecast.

    Economists who openly stated that capitalism always corrects itself after 6 to 18 months of a downturn were just lucky.

    And on a side note, isn’t it an amazing coincidence that Mr. Geithner chose to announce TARP II on the very same day that the housing figures were scheduled to be announced. After all, nobody knows until the very last mili-second what the report will be, so it must be entirely coincidental that he was able to enjoy the market bounce that always result from a favorable announcement.

    • Colonel1961 says:

      ‘…increased 3.4 percent last month, much better than the 2 percent fall economists expected.’

      They never axed me…

      ;-)

  2. Liberals Demise says:

    6,000 ticks down……..2 ticks up and they are wetting their britches. Truly amazing at the length they will go to slobber at any and all swings up!!
    Obama boot lickers earning their spot at the Massas’ feet.

  3. Odie44 says:

    Still, the rebound may be temporary. Upticks in retail sales and housing starts last month, along with a private sector group’s index of leading economic indicators dropping less than expected were welcomed, but none were viewed as sustainable given all the problems facing the economy…

    Um, the “problems facing the economy” are retail sales, housing starts and those “trivial” “leading economic indicators” at the PRIVATE SECTOR

    When you give a 22 year old junior writer an “assignment”, this is what you get. The market is rallying on this news, thank god it trumped BambiTV last night…

  4. DGA says:

    I’ve been buying business supplies more than usual lately because I think you’re better off with the hard goods than cash sitting in an account, ready to take a massive dive when the dollar bill printing presses start running at full steam. I’d like to have very little cash anywhere at that horrific point in time.

  5. DGA is correct.

    Also.. Note the timing of Geithner’s announcement of intent and planning on Monday with these numbers coming out. Timed perfectly to coincide with a virtual lock on a market upswing.

    Predictable, but few caught it. Makes it look like the Market LIKED what Geithner had to say…

  6. Right of the People says:

    Barry and his posse can’t be happy about this, they haven’t got all of their agenda forced through. They’ll figure out a way for the market to tank again so we can go back into full tilt crisis mode again. Maybe he get his boss, Massa Soros to do it again for him.

    Like they say next door in New Hampshire, Live Free or Die.

  7. TickTock says:

    Yep, Obamy has to keep the “crisis” at full boil. All the better to pass a nation-killing bill that will turn us into a smoking heap.

    I hope he fails.

  8. beefeater says:

    Wait!! It’s too early, the Messiahs’ programs haven’t even kicked in yet, slow down there.

  9. David says:

    The common phrase Obama and a few others are saying is that they have to get the banks loaning money again. Who to? Every bank I shopped at for a mortgage was willing to bend over backwards to give it. Am I missing something? By the way, I think the house numbers will be up in March too with those early 4% days.

    • proreason says:

      David, I suspect that your secret sauce is that you intend to and are able to repay the loan.

      During the first 18 monthls of the “credit crisis”, I’ve been able to refinance a mortgage, obtain a car loan, and also a signature loan. But like you, I have a long history of actually repaying debts. That makes me an enemy of the people that The Moron is trying to help.

    • pdsand says:

      I too have bought a new truck, had a credit card limit raised on me automatically, etc. I too suspect it’s because I’m part of the problem, not part of the solution that will lead to long term growth.


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