US Recession Imminent – Durable Goods Drop For 5th Month, Core CapEx Collapses
by Tyler Durden
ZeroHedge.com
07/27/2015
Durable Goods new orders has now fallen 5 months in a row (after revisions) flashing a orangey/red recession warning. After 2 weak months, Durable Goods bounced more than expected in June (+3.4% vs +3.2% exp) – though non-seasonally-adjusted dropped 3.1% MoM. There was an unexpected drop in Capital Goods Shipments non-defense Ex-Air which fell 0.1% (against expectations of a 0.6% rise), but mosty worrying is that Core CapEx collapsed 6.6% YoY – the second biggest decline since Lehman.
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