US Factory Orders Post Surprise Fall in April

[WallyWeaver]

The economic news just keeps getting better and better....

US Factory Orders Post Surprise Fall in April

Published: Monday, 4 Jun 2012 | 10:12 AM ET

By: Reuters

New orders for U.S. 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 economic recovery.

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.

Economists had forecast orders rising 0.2 percent in April.

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

The Labor Department on Friday reported that job creation slowed in May for the fourth straight month. Also that day, the Institute for Supply Management said the pace of growth in manufacturing slowed modestly in May, although the ISM's own gauge of new orders rose to its highest in over a year.

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

An increase in new orders for civilian aircraft buoyed the overall transportation sector.

Outside transportation, orders dropped 1.1 percent, with machinery down 2.9 percent and orders for computers and electronics off by 0.8 percent.

Orders for non-defense capital goods excluding aircraft — seen as a measure of business confidence and spending plans — dipped 2.1 percent in April.

Link: http://www.cnbc.com/id/47674033

[sxsess]

I dont know why this is a surprise to anyone with these liberals trashing our country. I wonder how hope & change is working out for everyone now?

[WallyWeaver]

I dont know why this is a surprise to anyone with these liberals trashing our country. I wonder how hope & change is working out for everyone now?

Well put, sxsess.

As an avid news watcher it has been a bit of a sore spot to see leftists supporting the President's supposed economic prowess by touting the supposed economic recovery over the past few months. It will be interesting to hear what they have to say now since the March and April jobs numbers have been revised severely downward and the May jobs numbers came in at a paltry 69,000.

And now this... the US factory data was also revised downward for March?

I remember hearing Richard Morris (can't use his common name here because it will be censored) say he believed Obama would lose in a landslide a few months back. I think the tendency was to paint him as overly optimistic. Well, anymore data like this and Mr. Morris could end up looking like a genius (which I already think he is).

WW.