Wednesday, May 25, 2011

Suitably Flip: Durable Goods Data: Atrocious

Not good:

Suitably Flip: Durable Goods Data: Atrocious: "Further filling out the picture of just how much the economy has deteriorated over the last couple months, April's durable goods orders are out this morning. Bear in mind the market was already expecting not only a slowown, but a swing from growth to contraction (consensus forecasts called for a reading of -2%, down from better than 4% in March).

Even so, they failed to capture the wretchedness."

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