Markets in the United States has established factories for big tickets and new homes sales increased unexpectedly in February, but economists said the profits were not the last of the recession.
The Commerce Department said Wednesday that the markets for goods produced at least three years, 3.4% in the last month, better than 2% economists expected. He was the first of a record for six hours just the sharpest declines, and one month of weight in 14 months.
Markets in the United States has established factories for big tickets and new homes sales increased unexpectedly in February, but economists said the profits were not the last of the recession.
The Commerce Department said Wednesday that the markets for goods produced at least three years, 3.4% in the last month, better than 2% economists expected. He was the first of a record for six hours just the sharpest declines, and one month of weight in 14 months.
The division also reported that new countries has increased the turnover rate for an annual seasonally adjusted 337,000 up from a revised January the number of 322,000. The results are better than the decline of 300,000 units, analysts are still waiting, the second worst ever. Even after reviewing the findings by January, the month was the worst on records of the year 1963.
But Wall Street rose more than expected government data. The Dow Jones Industrial Average, rose by 200 points earlier in the day, though about 90 points in trade and in the afternoon also gained broader indicators.
Last month, the strength of property markets has been affected by an increase in orders for military aircraft and parts, the opening of 32.4%. Demand for machinery, computers and manufacturing of metal products has increased.
However, the recovery of both markets and sales of new plants may be only temporary. Uptick in retail trade and construction, last month, with a private group index of leading economic indicators are less than expected, but was not sustainable in light of all the problems facing the economy. And a large decline in durable goods entered in January was even lower, said that the promotion of data from February a blip.
"The worst of the Drop-in (at home), but the sale is a recovery, much less price stability is one way as before," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a communication to customers.
He was still skeptical about a resumption of long-lived goods. Given the sharp decline of revisions in January and half in the last month from the profits of defense, Shepherdson said the increase in orders was welcome, but "far less impressive as it seems at first sight and it may not suffice. "
RBS Greenwich Capital analyst David Ader agreed. "Durable goods was stronger than expected, but reserves the downward revision and strength comes on the heels of several months of weakness, and we do not attempt to consider them as a sign the economy is in the ground, "he wrote in a note.
Producers have been hit by the recession, being the longest in a quarter of a century, demand for cars, airplanes, appliances, furniture and other large property narrows both the U.S. and overseas .
The government on Thursday to make the whole economy. Economists believe that the data, the economy, with an annual rate of 6.5% over the last three months of last year, also lower than the 6.2% drop in domestic product produced a month.
Economists believe that GDP does not fall in the current quarter and is likely to order in the second half of this year.
Still, the markets for durable goods without the volatility of the transport sector by 3.9 percent last month, reversing the 2% fall that economists expected.
Despite the significant increase in demand for military aircraft, for a total of contracts for the transportation of products were 0.8% in February. The demand for airliners crashed 28.9% after a sharp rise in January. Orders for cars and car parts plunged 0.6%, such as industry, fighting continues.
Detroit's General Motors Corporation and Chrysler LLC, the restructuring in the hope of saving billions more to the federal aid.
In areas of strength for heavy machinery rose 13.5% in February, the demand for computers by 10.1% and orders for fabricated metal products increased slightly by 1.5 per cent.
Wednesday, March 25, 2009
Durable goods was stronger than expected
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