Durable Goods Orders - The Fed is Debating What? ~ Steve Blitz Morning Notes
Powered By
Sponsored By
Digital Camera

Wednesday, October 28, 2009

Durable Goods Orders - The Fed is Debating What?

We are all guilty of converting data into changes, percent changes or percent changes of the percent change for the purpose of identifying early a change in trend. I thought it would be a good idea today to just look at the dollar amount of new orders for durable goods without putting the series through a series of mathematical calisthenics (see chart below). Not being able to resist some sort of contortion I show the series in real dollar terms as well. Either way, the stark collapse in orders and the meager bounce from the bottom suggests what today’s consumer survey told us – the economy has bottomed but it isn’t bouncing.

Read the whole article -- go to Pangea Market Advisory

No comments:

Post a Comment