THE BASIS POINT

Year/year Durable Goods Orders down 17 Consecutive Months.

 

Durable Goods Orders (May 2016)

– New Orders month/month -2.2%. Previous was +3.3%
– New Orders year/year +3.2%. Previous was +1.9%
– Ex-transportation month/month -0.3%. Previous was +0.5%
– Ex-transportation year/year -0.4%. Previous was -1.2%
– Core capital goods month/month -0.7%. Previous was -0.4%
– Core capital goods year/year -3.6%. Previous was -4.2%.

This indicates weakness in the economy not just of the nation but the world. The continuing decline in Capital Goods Orders is of particular concern. Year/Year core durables are down for
17 consecutive months.

Consumer Sentiment (June 2016)

– Sentiment Index 93.5. Previous was 94.3.

This is the University of Michigan Index. This is a survey index which is supposed to forecast consumer spending 3-6 months from now. Frankly there is so much uncertainly that this is
essentially useless.

 

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