tag:blogger.com,1999:blog-6616959642391988608.post8279376553559073107..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: July capital goods orders were very weak, but possibly misleadingScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6616959642391988608.post-9190108614174591262010-08-25T13:55:04.382-07:002010-08-25T13:55:04.382-07:00if we have another bad month, perhaps you can use ...if we have another bad month, perhaps you can use the 6 month average... then the 12 month.... then the (actually past 12 months, it won't look so good).Jakehttps://www.blogger.com/profile/07946497592651234440noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-60294860832832900672010-08-25T12:51:36.318-07:002010-08-25T12:51:36.318-07:00Whatever spinmeister. That was the worst month ove...Whatever spinmeister. That was the worst month over month data point since 1992.<br /><br />Investment in equipment&software was the second brightest light in the economy, sequential growth of 4.2, 14.6, 20.4, 21.9 SAAR in the last 4 quarters.<br /><br />Where is the 3-4% GDP growth trajectory now, Scott? Even <a href="http://www.zerohedge.com/article/marmicohttps://www.blogger.com/profile/08277071086056574486noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-43458024720279171152010-08-25T11:22:19.697-07:002010-08-25T11:22:19.697-07:00from JPM regarding the seasonality...
"Core ...from JPM regarding the seasonality...<br /><br />"Core capital goods tend to be seasonally weak the first month of the quarter, due to excess seasonality in the machinery category. However, even after accounting for that the capital spending implications still look atrocious. In particular, new orders for machinery declined 15%, the most on record going back to 1992. <br /><br />There was a Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-71566554550107333582010-08-25T11:13:55.296-07:002010-08-25T11:13:55.296-07:00It does not look like we've made much headway ...It does not look like we've made much headway since 1998. You have two bubble peaks and subsequent blowouts. <br /><br />If anything we reached the peak for this cycle which is roughly half way to the peak of the prior bubbles.Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.com