Bad Indicator for GDP

Today’s June durable goods number came in at minus 2.1%. It was expected to be up .3% from 1.9% in May.

It slowed in the spring. Of course, they will blame the tsunami in Japan and higher energy costs with gas at $4 a gallon in some places.

With manufacturing down it looks like the second quarter GDP will be lower than predicted earlier in the year. Some analysts suggest it could be below 1%.

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