Poor US durable goods orders place shows spillover from cash for clunkers is gone

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The durable goods orders report for August is out and it reveals that orders decreased 2.4%. This indicates that orders are flowing in to companies in the US at a slower pace than was the case the month before. Factories need to respond to this decrease in orders. And fewer orders in the fax machine mean lower sales. This is bad news for unemployed workers who look for the economy to turn around and create jobs. Will the managers start hiring again without revenues increasing? No! Hiring will remain weak as long as the order inflow is so poor.

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