Hattip to Ed Morrissey at Hot Air. Orders for durable goods dropped a calamitous 13.2% in August, the worst decrease since 2009.
New orders for manufactured durable goods in August decreased $30.1 billion or 13.2 percent to $198.5 billion, the U.S. Census Bureau announced today. This decrease, down following three consecutive monthly increases, was the largest decrease since January 2009 and followed a 3.3 percent July increase. Excluding transportation, new orders decreased 1.6 percent. Excluding defense, new orders decreased 12.4 percent. Transportation equipment, down following four consecutive monthly increases, had the largest decrease, $27.8 billion or 34.9 percent to $51.9 billion.
What was laughingly called a Recovery is at an end. The long awaited double dip Recession is here. Buckle your seat belts, this is going to be a bad ride.