So here's the release:
The Commerce Department said that orders for durable goods, everything from computers to cars, fell by 10.2 percent last month, a much bigger decline than had been expected.
The weakness was led by a 68.2 percent drop in orders for commercial aircraft reflecting a falloff in sales at Boeing Corp. after two very strong months. Analysts said the overall decline overstated the weakness in manufacturing because it was so heavily influenced by the volatile aircraft sector.
Excluding airplanes, cars and other transportation products, orders posted a solid 0.6 percent rise after an even larger 1.9 percent increase in December.
"Excluding airplanes, cars, and other transportation products...."??
Look, Commerce is telling us that airplanes were a problem, and that's understandable. Boeing's sales-guys can close a bunch of orders in December and go dry in January.
But "excluding...CARS? ...other transportation products"? Who made THAT decision?
Sorta like DofLabor's cute little 'inflation's not bad' scheme. After you read that inflation's bopping along at 8+% this year, Labor says, 'well, not really!! If you take out gasoline, natural gas, and all food, it's only 2.4%!' See!!! Things are just Wonderful!!!
So don't eat, don't drive, don't heat your home, and inflation will be almost un-noticeable.
Really. I promise.
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