Ping Pong Data, from George Zachar
Mar. Feb.
2007 2007
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NEW ORDERS 3.4% 2.4%
Ex-transportation 1.5% -0.4%<<<
Ex-defense 4.5% 2.6%
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Capital goods 8.2% 8.8%
Non-defense 11.7% 9.8%
ex-aircraft 4.7% -2.3%<<<
After reading the papers this morning about how free-falling housing and a punk consumer would tip us into recession, we're confronted with today's durables data showing in Monty Python-esque manner we're "not dead yet".
Bonus doomster whack: Feb. data revised up!