When will MSMers figure out that their sequential surprise and shock at the bad economic numbers tumbling out of the Obama years makes them look like clueless oafs? Never, from the looks of things.
US Factory Orders Post Surprise Fall in April
New orders for U.S. factory goods fell in April for the third time in four months as demand slipped for everything from cars and machinery to computers, the latest worrisome sign for the economic recovery.
Question: If it’s the third time in four months that orders have fallen, how much of a surprise can it really be?
The Commerce Department said on Monday orders for manufactured goods dropped 0.6 percent during the month. The government also revised its estimate for new orders in March to show a steeper decline.
Economists had forecast orders rising 0.2 percent in April.
Which economists predicted that? I’d like some names so I can avoid their advice from now on. Here’s how I see things. The economy is facing a nasty trifecta of ObamaCare liabilities, Obama’s regulatory state and the uncertainty over the Bush tax cuts, which are scheduled to unleash taxmageddon if they’re not renewed at the end of the year. That’s keeping employers from hiring, which is impacting everything else including manufacturing. If I can see this, and business leaders have been consistent about their fears on these three fronts, why can’t these economists see it?
The Commerce Department report showed new orders for motor vehicles and parts fell 0.5 percent in April.
An increase in new orders for civilian aircraft buoyed the overall transportation sector.
Outside transportation, orders dropped 1.1 percent, with machinery down 2.9 percent and orders for computers and electronics off by 0.8 percent.
Orders for non-defense capital goods excluding aircraft — seen as a measure of business confidence and spending plans — dipped 2.1 percent in April.
But hey look on the bright side: Wal-Mart’s and Denny’s have started adding special up-front parking places for electric cars. Maybe those were the “thingamajigs” Obama told us to buy last week.