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’




More on this topic (What's this?)
BEWARE THE MOVE IN DURABLE GOODS
The Daily Propaganda Is Just Getting Painful
Read more on Factory Orders, Durable Goods Orders at Wikinvest

Durable Goods Data For June -2.5%

JUNE DURABLE GOODS ORDERS:  -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

More on this topic (What's this?)
The Daily Propaganda Is Just Getting Painful
BEWARE THE MOVE IN DURABLE GOODS
Read more on Transportation, Durable Goods Orders at Wikinvest

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 high

NOVEMBER 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)

More on this topic (What's this?)
Guest Post: Money Advice by a Six Year Old
PCE SHOWS CONTINUING DEFLATION
Read more on Holiday Season, Pacific Office Prop TR at Wikinvest