Yipee! Hurray! Durable goods orders better than expected

August 27th, 2008 at 12:18pm Georgette Braun

I’m always looking for any sign that the economy is going anywhere but down, and this is good news.

“Orders for big-ticket manufactured goods turned in a second consecutive strong monthly performance in July, a far bigger-than-expected gain led by a huge jump in demand for commercial aircraft,” so says this AP story.

So, what’s its relative importance?

High, according to the Schwab Guide to Economic Indicators.

“This report is one of several key reports monitored by the Federal Reserve in setting monetary policy. According to the U.S. Census Bureau, “The survey measures current industrial activity and provides an indication of future business trends. Data are used by the Executive Branch of the Government for developing economic, fiscal, and monetary policy; the Bureau of Economic Analysis as components of the gross domestic product estimates; and trade associations, corporate economists, and other members of the business community as an analytical tool for assessing the current and future economic condition of the country.”

Entry Filed under: economy