Remember when Bernanke use to say that the housing market problems were not going to spread to the rest of the economy? Well, take a look at this article from AP via Yahoo Finance.
WASHINGTON (AP) — U.S. factories saw orders for costly manufactured rise only marginally in November — falling short of expectations for a much bigger gain and underscoring the strains to the economy from housing and credit problems.
The Commerce Department reported Thursday that orders for “durable” goods — products expected to last at least three years — increased by just 0.1 percent last month. The tiny rise came after durable-goods orders fell by 0.4 percent in October. Economists were hoping for a larger rebound — of a 2.2 percent increase — in new orders placed at the nation’s factories in November. Still, the November rise did mark the first increase in durable-goods orders in the last four months.
In other economics news, more people signed up for unemployment benefits last week, a sign that the job market is softening as the economy loses speed. - Via Nationalbubble.com
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
Comments
#1 Reply
It's very interesting to me to see how thing change right before Christmas. It always seems to be retailers make-or-break point.