Chart Of The Day: Continued Collapse In Capital Goods New Orders Confirms US Is In Recession

Tuesday, November 27, 2012
By Paul Martin

by Tyler Durden
ZeroHedge.com
11/27/2012

While the just released Durable Goods orders report for October came in modestly better than expected (which many thought would be a decline due to Hurricane Sandy), the primary driver of this continues to be record durable good inventory accumulation. Excluding the noise, and focusing only on real, non-noisy economic strength metrics such as New Capital Goods Orders (technically defined as the year over year change in Non-Defense Capital Goods Excluding Aircraft), a very different and far uglier picture emerges. In fact, the October Y/Y Plunge of -8.1% in this major indicator was the biggest drop since 2009.

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