Have You Seen My Bush Boom?

From Holden:

Durable goods orders dropped a whopping 10.2% last month.

Orders to U.S. factories for big-ticket manufactured goods fell by the largest amount in 5 1/2 years in January as demand for commercial aircraft suffered the biggest setback in seven years, the government reported Friday.

The Commerce Department said that orders for durable goods, everything from computers to cars, fell by 10.2 percent last month, a much bigger decline than had been expected.

The weakness was led by a 68.2 percent drop in orders for commercial aircraft reflecting a falloff in sales at Boeing Corp. after two very strong months. Analysts said the overall decline overstated the weakness in manufacturing because it was so heavily influenced by the volatile aircraft sector.

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Orders for non-defense capital goods, considered a good barometer of business investment plans, fell by 20 percent in January.

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The 68.2 percent fall in commercial aircraft orders was the biggest plunge in this category since an 80.1 percent drop in December 1998.

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Overall, orders for transportation products were down 31.2 percent to $54 billion. Orders for autos and auto parts fell by 3.3 percent following a 6.5 percent rise in December.

Orders for computers were down a sharp 11 percent in January while orders for machinery fell 2.5 percent.