Durable goods orders drop for 4th month out of last 5

Bad news all around for American factories. Two leading indices have dropped for the 4th time in 5 months while last month's dismal numbers have been revised downward. Bloomberg: Signs that U.S. manufacturing is faltering emerged from a report Friday that orders for long-lasting factory goods, excluding the volatile transportation category, fell in July for the fourth time in five months. Overall orders for durable goods rose a seasonally adjusted 4.2 percent in July, the Commerce Department said. But excluding aircraft and other transportation goods, orders dropped 0.4 percent. Durable goods are items meant to last at least three years. Orders for so-called core capital goods, a key measure of business investment plans, fell 3.4 percent. That's the biggest drop since November and the fourth decline in five months. And June's figure was revised down to show a drop of 2.7 percent -- much worse than the initial estimate of a 1.7 percent fall. "This is a very weak report,"...(Read Full Post)