Government Data – More Processing Errors
Claiming a ‘processing error’, another statistic of economic data has been revised lower.
Census Bureau statement: January 27:
US Census Bureau: Nov Factory Orders revised to +0.6% from +1.1%
- cites processing errors
- Nov non defense orders (ex aircraft) revised lower to +2.7% from +3.6%
It was just days ago when another ‘processing error’ was revealed:
January 22, 2010:
US Commerce Dept revises Nov Durable Goods orders to -0.7% from +0.2% previously reported – cites a ‘processing error’
Things that make one say ‘hmmmmmm’
Durable Goods Data For June -2.5%
JUNE DURABLE GOODS ORDERS:Â -2.5% Vs -0.6% Expected
DURABLES EX-TRANSPORTATION: 1.1% Vs 0.0%Expected
(Prior Durables revised from +1.8% to 1.3%)
(Prior Durables Ex Transportation revised from +1.1% to 0.8%)
Durable Goods Data for February
FEBRUARY DURABLE GOODS ORDERS: +3.4% V -2.5%E;
DURABLES EX-TRANSPORTATION: +3.9% V -2.0%-
Prior Durables revised from -4.5% to -7.3% (second revision)
Prior Durables Ex Transportation revised from -3.0% to -5.9% (second revision)
Expect this months data to be revised downward significantly next month.
.                                                      FEB                        JAN                    DEC
(Dollar Amounts In Billions)
New Orders for Durables           165.56                  160.06                   172.74
Percent Change                 3.4                      -7.3                     -4.6
New Orders, Ex-Defense            153.30          150.67                   157.00
Percent Change                               1.7                      -4.0                      -7.6
New Orders, Ex-Trans.               127.29                  122.56           130.18
Percent Change                             3.9                        -5.9                       -5.7
Primary Metals                            13.11                     13.19                    14.10
Percent Change                           -0.6                       -6.4            -11.7
Fabricated Metals             23.85           23.49                    24.80
Percent Change                             1.5                       -5.3             -4.8
Machinery                  24.44                      21.53                    23.93
Percent Change                            13.5                      -10.0                     -9.5
Computers/Electronics               24.25                    22.96                      24.83
Percent Change                            5.6                        -7.6                       -6.8
Electrical/Appliances                  8.57                       8.43                        9.25
Percent Change                            1.6                       -8.9                         6.8
Transportation Equipment         38.26           37.50                      42.57
Percent Change                            2.0            -11.9             -1.2
Nondefense Cap. Goods       52.77                     49.15                      53.96
Percent Change               7.4                        -8.9                      -10.3
Defense Capital Goods         9.96                      7.37             12.39
Percent Change                            35.3           -40.6             45.6
Durable Goods Shipped              179.12                 179.99           189.91
Percent Change                           -0.5                     -5.2                          -1.5
Unfilled Orders                          773.73                784.27                       800.36
Percent Change                          -1.3                     -2.0               -1.5
Jobless Claims and Durable Goods
Continuing deterioration in both…
INITIAL JOBLESS CLAIMS: 588K V 575K expected
CONTINUING CLAIMS: 4.776M V 4.620M Expected
—–
DECEMBER DURABLE GOODS ORDERS: -2.6% V -2.0%E;
DURABLES EX-TRANSPORTATION: -3.6% V -2.7%E-
Prior Durables revised from -1.5 to -3.7% (2nd revision)
- Prior Durables Ex Transportation revised from +0.6% to -1.7% (2nd revision)
Christmas Eve – Santa Rally?
Santa has a LOT of work to do in today’s shortened trading day if he is to come through. The S&P 500 chart posted last night remains the one to watch for the short term support/resistance levels.
INITIAL JOBLESS CLAIMS: 586K CONTINUING CLAIMS: 4.37M V 4.410ME
This is the highest Initial Claims since 1982 recession, a 26 year highNOVEMBER DURABLE GOODS ORDERS: -1.0% V -3.0%E; DURABLES EX-TRANSPORTATION: 1.2% V -3.0%E
- Prior Durables revised from prior revision of -6.9% to -8.4%
- Prior Durables Ex Transportation revised from prior revision of -5.4% to -6.8%NOVEMBER PCE CORE M/M: 0.0% V 0.0%E; PCE CORE Y/Y: 1.9% V 2.0%E; PCE DEFLATOR Y/Y: 1.4% V 1.5%E
- Prior PCE Core year over year revised from 2.1% to 2.0%
Economic data this morning still says ‘Bah Humbug’ on the economy. Remember that the US markets close today at 1:00pm (US EST)
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