Bloomberg reports that:
Orders for durable goods unexpectedly dropped in February, a sign the slowdown in global growth may be weighing on American manufacturers.
“Slowdown” may be a charitable description of a decline of:
… 1.4 percent after a 2 percent gain in January that was smaller than previously estimated …
Durables are, of course, a fairly reliable indicator of the prospects for economic expansion. Furthermore, it cannot be good news that:
Orders for non-military capital goods excluding aircraft, considered a proxy for future business investment, also dropped 1.4 percent in February, a sixth consecutive decline
