ADP Employment & Factory Orders
Summary: The sharp decrease in employment continues with large firms cutting back big. Expect Friday Non Farms to be ugly.
Factory orders continue their decline in widespread fashion. Bennie sez no growth ahead and possible negative GDP.
ADP Employment Mar +8K vs prior -18K Full Report
Inside the number: Feb revised up +5K. Service +85K; Goods Producing -77K; 16th straight decline. Manufacturing -58K, 19th straight decline.
Large firms -52K; Medium +5K; Small +55K
Factory Orders Feb -1.3% vs prior -2.3% Full Report
Inside the number: Prelim Table 2: Ex transport -1.8%; Ex defense -1.5%; Durable goods -1.1%; Non durable -1.5%.
Prelim Table 5: Construction Materials & Supplies -4.3%; Motor Vehicles & Parts -2.5%; Machinery -12.3%
Capital Goods Orders Non Defense Ex Aircraft -2.4% vs prior -1%; Consumer goods -1.5%; durable -2.3%; non durable -1.4%
Bennie B: "It now appears likely that gross domestic product will not grow much, if at all, over the first half of 2008 and could even contract slightly."
Factory orders continue their decline in widespread fashion. Bennie sez no growth ahead and possible negative GDP.
ADP Employment Mar +8K vs prior -18K Full Report
Inside the number: Feb revised up +5K. Service +85K; Goods Producing -77K; 16th straight decline. Manufacturing -58K, 19th straight decline.
Large firms -52K; Medium +5K; Small +55K
Factory Orders Feb -1.3% vs prior -2.3% Full Report
Inside the number: Prelim Table 2: Ex transport -1.8%; Ex defense -1.5%; Durable goods -1.1%; Non durable -1.5%.
Prelim Table 5: Construction Materials & Supplies -4.3%; Motor Vehicles & Parts -2.5%; Machinery -12.3%
Capital Goods Orders Non Defense Ex Aircraft -2.4% vs prior -1%; Consumer goods -1.5%; durable -2.3%; non durable -1.4%
Bennie B: "It now appears likely that gross domestic product will not grow much, if at all, over the first half of 2008 and could even contract slightly."
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