Durable Goods April 2008

The initial data on GDP was encouraging — down "only" 0.5%, much better than the consensus of -1.1%. Ex-transportation, bookings for goods meant to last several
years rose 2.5%. But overall, new orders for durable goods fell 3.4% from April 2007.

The March durable goods order was revised down from +0.1% increase to a decreased of -0.3%.

The  coverage focused on an the apparent "strength" in the report. "Quite encouraging" said Barron’s; Healthy said Marketwatch.

Really? Let’s have a look at the chart:

click for ginormous chart

chart via Jake

chart courtesy of Barron’s Econoday

Category: Data Analysis, Economy

States and Cities Impact On GDP

Category: Data Analysis, Economy, Taxes and Policy, Wages & Income

Buy vs. Rent Redux

Category: Economy, Markets, Real Estate

Roubini Still Pessimistic On Economy

The Financial Times had a three part (15 minutes) video interview with NYU Professor Nouriel Roubini last week. You can find this interview on the FT Video site or via YouTube below.

Roubini discusses his outlook for the US economy, housing and mortgages; the prospects for policy action.

Nouriel is a cheerful as ever. But before you dismiss him, note that he has been very right on Housing, Credit and the Economy:

Part 1

Part 2

Part 3

Category: Economy, Video

Maybe the CD Is Not Dead Yet

Category: Consumer Spending, Digital Media, Music

Peak Water ?

Category: Commodities

Coming soon: 3G iPhones?

Category: Technology, Web/Tech

New Home Sales Fall 42%

Category: Data Analysis, Real Estate

Case-Shiller: Prices Fell 14%, Most on Record

Category: Data Analysis, Real Estate

Foreclosure Sales Increasing

Category: Credit, Real Estate