Factory Orders Down 1.3% in February

The failed economic policies of George W. Bush in action:

New U.S. factory orders declined for the second straight month in February, and fell more than twice as much as economists expected, the Commerce Department reported today.

New factory orders fell 1.3 percent, while orders excluding transportation equipment fell even further, by 1.8 percent, which is the largest decline since January 2007. [...]

A deeper look at the numbers reveals the industries that are really hurting:

A key indicator of business confidence, orders for non-defense capital goods excluding aircraft, fell 2.4 percent in February after falling 1.0 percent the prior month.

Economists use orders of non-defense, ex-aircraft capital goods as a proxy for business capital spending and a sign of the health of the economy.

The largest order declines were in categories related to construction. Overall orders for machinery fell 12.3 percent in the month, the largest decline in four years.

And John McCain is offering more of the same.

Comments (1) «

I guess nobody wants to buy any of those sub-prime loan packages either?

Without financial investments and real estate what exactly is keeping this economy going? The speculation on the stock market?

We better start making things people want to buy here and around the world again.

Creating new wars doesn't pay off any longer either....we have to buy our refueling jets from AirBus now because the Bush administration thinks it's always a good idea to outsource.

We have gone for the ridiculous to the sub-prime.

1

SandyH on April 2, 2008 at 06:03 PM

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