Friday, April 24, 2009

Did Capital Goods Orders Really Rise?

Associated Press reports that core capital goods orders rose 1.5% in March compared to February. But in reality, they were in fact lower than the previously reported number for February.

The initially reported core capital goods order for February was $52.47 billion. The now reported number for March is $51.57 billion. The alleged 1.5% increase only happened because the February number was revised down to $50.78 billion. Given the quite consistent pattern in recent months for the initially reported number to be revised down, it seems likely that the $51.57 billion figure for March will similarly be revised down.


Anonymous geoih said...

Of course, they will probably report the April number as being up when the March number is revised down (without bothering to mention that the March number was actually down from February).

6:58 PM  

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