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Weak orders point to sharp slowdown in manufacturing

manufactured goods fell sharply in August, suggesting the main engine canada goose clearance sale of the economic recovery was stalling even as a report showing a drop Canada Goose Jackets in new claims for jobless aid offered a hopeful sign on the labor market. fiscal policy, Europe debt troubles canadian goose jacket and a slowdown in China.

canada goose coats the uncertainty associated with the fiscal cliff, there is certainly a wait and see attitude which is impacting a lot of the data, said Omair Sharif, an economist at RBS in Stamford, Connecticut. Congress fails to agree on an orderly way to reduce a huge budget deficit. canada goose coats

buy canada goose jacket cheap The Commerce Department said durable goods orders dived 13.2 percent, the largest drop since January 2009, when the economy was in the throes of a recession. The canada goose coats decline primarily Canada Goose Coats On Sale reflected weak demand for cheap Canada Goose aircraft and automobiles, and transportation orders fell 34.9 canada goose clearance percent. Plane maker Boeing reported only one aircraft order last month versus 260 in July. buy canada goose jacket cheap

But orders were down for a wide range of goods, and even excluding transportation, orders fell 1.6 percent, dropping for a third consecutive month. The fall was in sync with other data indicating a marked cooling in the production side of the economy.

Economists polled by Reuters had expected orders for durable goods items from toasters to aircraft that Canada Goose Online are meant to last at least three years buy canada goose jacket cheap to fall 5 percent, with non transportation orders rising marginally.

Unfilled orders dropped by the most since December 2009, pointing to weak factory activity in the canada goose uk outlet months ahead.

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canada goose Underscoring the economy weakness, the government revised its measure of second quarter growth to just a 1.3 percent annual pace from 1.7 percent, largely to reflect the impact a drought in the Midwest had on farm inventories. canada goose

Inventories lopped canada goose jackets off almost half a percentage point from GDP growth in the last quarter. However, economists expected this to reverse in the third quarter.

cheap Canada Goose Durable goods inventories set a fresh record high in August, prompting economists at Macroeconomic Advisers to raise their third quarter GDP growth estimate by one tenth of a percentage point to 1.8 percent. cheap Canada Goose

There was also bad news on the housing market, which has been one of the economy relative bright spots. job growth stronger in year to March canada goose uk black friday than thought

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Canada Goose sale The Labor Department showed the number of Americans filing new claims for jobless benefits fell 26,000 last week buy canada goose jacket to a two month low of 359,000. The four week moving average for new claims, a better measure of labor market trends fell for the canada goose store first time after five weeks of increases. Canada Goose sale

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canada goose black friday sale Sluggish job gains and stubbornly high unemployment spurred the Federal Reserve this month into launching a third round of bond purchases to drive down already low https://www.alifeoutofdebt.com interest rates. central bank vowed canada goose factory sale to buy $40 billion worth of mortgage backed securities each month until canada goose uk shop it sees a sustained upturn in the labor market. canada goose black friday sale

canada goose clearance reports suggest that the Fed is going to remain very accommodative for quite some time to try and spur demand and job growth, said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina. canada goose clearance

buy canada goose jacket Mortgage finance company Freddie Mac said the mortgage backed securities purchases helped push the average rate on a 30 year fixed rate Canada Goose sale mortgage down to a record low of 3.40 percent this week. buy canada goose jacket

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Canada Goose online The encouraging news on the labor Canada Goose Outlet market was eclipsed by the weak durable goods report. Canada Goose online

Canada Goose Jackets Worker Derrick Williams loads material into a cutting machine at a Wrap Tite manufacturing facility in Solon, Ohio July 13, 2012. REUTERS/Aaron Josefczyk Canada Goose Jackets

canada goose store Orders for non defense capital goods excluding aircraft, a proxy for business spending plans, rose 1.1 percent in August, only partly reversing a 5.2 percent slide the prior month. canada goose store

canadian goose jacket What more, shipments of these goods, which Canada Goose Parka are used to calculate equipment cheap canada goose uk and software spending in the canada goose coats on sale GDP report, fell uk canada goose outlet for a second straight month. That implies little or no growth in equipment and software investment this quarter canadian goose jacket.