Factory Orders Down, Jobless Claims Up

[RamboLiberal]

http://www.latimes.com/business/la-100203econ_lat,1,613807.story?coll=la-home-leftrail

The nation's slowly recovering manufacturing sector suffered a setback in August as factories orders and shipments fell for a wide variety of goods in the first decline in four months, the government said today.

A separate economic report today showed that first time claims for unemployment benefits rose sharply last week. But most of the increase reflected those workers who were unable to apply for benefits earlier in the month because of disruptions caused by Hurricane Isabel.

On Wall Street, stocks wobbled in subdued trading in contrast to Wednesday's burst of buying that sent market indexes soaring. The Dow Jones average was up only 0.97 to 9470.17 shortly before 10 a.m. The Nasdaq fell 2.98 to 1829.27, while the S&P 500 slipped 0.91 to 1017.31.

The U.S. Commerce Department said that orders for manufactured goods in August fell $2.7 billion on a seasonally adjusted basis, or 0.8%, from the previous month to $327.8 billion. The decline, much of it related to a drop in transportation equipment, ended three consecutive monthly increases, including a relatively strong 2% gain in July.

[hatrack]

1. Yeah, but the economy's recovering! RECOVERING!!

You see, if you say it often enough and loudly enough and use the maximum amount of oxygen possible in saying it often and loudly, you'll soon feel dizzy and sit down and experience a sort of woozy euphoria.

[denverbill]

2. Funny damned thing.

The repukes I talk to can't seem to make up their minds. Couple years ago, we were in the Bush recovery from the Clinton recession. However, then the clinton recession suddenly came back, being replaced by yet another Bush recovery. Unfortunately, that Bush recovery too was knocked off by yet another Clinton-caused recession.

It continually amazes me how policies enacted by Clinton years ago could be having variable effects like that.

[hatrack]

5. Never underestimate the power of . . . .

CLENIS!

[rogerashton]

3. Um, the economy has been in a very weak recovery, but

there is no guarantee that it will not turn back down, and the mixed bag of recent results has me worried.

OK -- another dip to make this a double-dip, three year recession would probably make it even harder for W* to get elected president for the first time -- but it would also impoverish a lot of innocent families and individuals. So I worry.

[RamboLiberal]

4. Too bad we can't recall AWOL and move the election up

to Nov '03. The way things are going we may not survive to Nov '04