Factory orders post better-than-expected increase in February, breaking string of 6 declines

[babylonsister]

Every little bit of good news helps!


Factory orders post better-than-expected increase in February, breaking string of 6 declines

MARTIN CRUTSINGER
AP News

Apr 02, 2009 09:24 EST


Orders to U.S. factories posted an increase in February after six straight monthly declines, providing another glimmer of hope that the economy's deep plunge may be starting to moderate.

The Commerce Department said Thursday that orders for manufactured products rose by 1.8 percent in February, much better than the 1.1 percent decline that economists had expected.

The rebound may well prove temporary given all the forces that are continuing to batter the economy. But still, analysts said a string of better-than-expected reports in recent days could at least be signaling that the severe slide that has occurred may be starting to ease slightly.

The increase in total factory orders was led by a 3.5 percent gain in demand for durable goods, items expected to last at least three years. That was slightly better than a preliminary government estimate last week that durable goods orders had risen by 3.4 percent in February.

Non-durable goods, products such as chemicals, food and paper, showed a 0.3 percent rise in February following a 0.5 percent gain in January.

The strength last month included a big swing in demand for machinery with orders jumping 12.7 percent in February, the biggest one-month gain in nearly 15 years.

more...

http://www.talkingpointsmemo.com/news/2009/04/factory_orders_up_18_percent_in_february.php

[CoffeeCat]

1. Who concocted these figures?

Two guys named Randolph and Mortimer?

The guys who mainly speculated on Orange futures are now into factory orders?

Who knew? :shrug:

[babylonsister]

3. Per the article, the Commerce Department. nt

[CoffeeCat]

7. Sorry, I'm such a pessimist right now...

I appreciate you posting the article, and I guess I should be more open minded when it comes
to these things.

I'm feeling a bit burned after the media pumped up the Feb housing start numbers and tried
to use these finagled statistics to suggest that the recession was over. Then, we find out
that the "good news" coming from the banks (BofA, Citi, etc) about their "profitable months"
weren't due to an uptick in the economy (more loans, mortgages, other borrowing)--but were
probably from taxpayer funds via AIG.

I'm tired of being lied to--at this point--and sometimes my snark gets extra snarky.

[cap]

11. I'm cautiously optimistic.. it could be a good thing or it could be a blip

but heck even a blip feels good. I'm not going to change my budget based on just this.

[cap]

2. Increase in factory orders especially machinery is generally a good thing

and signals increased orders which will lead to increases in employment. However, I am a little cautious about saying that we are pulling out of this mess and not seeing a blip.

Still and all, I am happy to take a bit of good news when I can get it.

[WI_DEM]

4. yes, good news, lets hope next month shows gain as well.

[DJ13]

5. "Subject to revision"

As with most of the governments numbers over the last 10 years, the true numbers wont be released until long after these doctored numbers have outlived their usefulness as propaganda to help prop up the stock market.

[cap]

10. the numbers have always been "subject to revision"

even before Bush started fooling around with the numbers.... The government sends out a survey and posts early numbers and waits for everyone to comply with the survey.

Unfortunately, Bush started screwing around with the numbers... actually there was a certain amount of screwing around under Reagan but nothing like the way they were doing under Bush.

You have a point to be a bit skeptical because we dont know how well the ship has been righted under Obama. A lot depends on how deeply that particular department has been compromised.

[Occam Bandage]

6. Hopefully a forward trend holds.

[specimenfred1984]

8. I hopefully hope the hopefullness provides hope to all the hope-filled

Otherwise, I'm a fascist, non-tax paying, Obama hating liar who's filled with faux outrage.

[Occam Bandage]

9. I think your cork popped out or something. nt