DURABLE GOODS ORDERS PLUNGE -13%

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August durable goods orders plunged -13 percentThe consensus was  -5.0 per cent.

It’s the biggest drop since January 2009.

Everyting except eletrical equipment orders showed declines.

Here’s the full nastiness, from the Census Bureau.

Ex-transportation, the index fell 1.6 per cent.

Analysts had predicted an ex-transportation measurement of +0.2 per cent.

Transportation goods orders had seen four consecutive monthly increases.

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Photo: Thomson Reuters

But this time they fell 34.9 per cent.

defence, meanwhile, fell more than 40 per cent.

Inventory also saw its highest-ever level for August, increasing 0.6 per cent to $371.6 billion.

July orders were also revised slightly downward.

Even with last month’s relative gains, economists see continued softness, according to Bloomberg.

But many analysts caution the index remains volatile.

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