New capital goods orders confirm US likely in recession

This morning we learn that US new capital goods orders fell 8.1% year over year for October. As shown below drops of this magnitude occurred in the early stages of the last two US recessions in 2002-03 and 2007-08.

Source: St. Louis Fed

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2 Responses to New capital goods orders confirm US likely in recession

  1. michael says:

    Re: Cory’s Case -Shiller chart …….. it may be worth comparing it with pretty much any lumber or wafer board producer or even Home Depot. So who is buying the boards?

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