Economic Reports 01/26/07
Summary: Unlike the media spin which pushed bond yields higher.... Durable goods, a trend of weakening growth continued with orders declining in the 4th quarter.
New Home Sales with a 4th rise in 5 months. However, homebuilder Beazer's CEO Ian McCarthy said it all yesterday...
"At this point, we have yet to see any meaningful evidence of a sustainable recovery in the housing market."
Durable Goods Orders Dec +3.1% vs prior +1.6% Full Report
Inside the number: Ex-transportation orders +2.3%, inventories +0.4%, unfilled orders +2.3%.
For 2006, durable goods orders +7%, cooling from 2005's 8.6% pace. Orders for core capital equipment +2.4%, for 2006 +9%.
Orders for electronics (ex semiconductors) +1%, while shipments (which do include semiconductors) -5.7%. Orders for computers -3.1%.
Core capital equipment orders fell at a 6.2% annualized pace in the 4th quarter.
New Home Sales Dec +4.8% to 1.12M vs prior 1.047M Full Report
Inside the number: For 2006, sales plunged 17.3% to 1.061M, the largest percentage loss since 1990.
The inventory of completed but unsold homes rose to a record 172,000, up about 50% in the past year.
New Home Sales with a 4th rise in 5 months. However, homebuilder Beazer's CEO Ian McCarthy said it all yesterday...
"At this point, we have yet to see any meaningful evidence of a sustainable recovery in the housing market."
Durable Goods Orders Dec +3.1% vs prior +1.6% Full Report
Inside the number: Ex-transportation orders +2.3%, inventories +0.4%, unfilled orders +2.3%.
For 2006, durable goods orders +7%, cooling from 2005's 8.6% pace. Orders for core capital equipment +2.4%, for 2006 +9%.
Orders for electronics (ex semiconductors) +1%, while shipments (which do include semiconductors) -5.7%. Orders for computers -3.1%.
Core capital equipment orders fell at a 6.2% annualized pace in the 4th quarter.
New Home Sales Dec +4.8% to 1.12M vs prior 1.047M Full Report
Inside the number: For 2006, sales plunged 17.3% to 1.061M, the largest percentage loss since 1990.
The inventory of completed but unsold homes rose to a record 172,000, up about 50% in the past year.
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