Durable-goods orders fell by 0.6% in July, leaving them 11.2% lower than a year ago.
Also out Thursday are the latest numbers on durable-goods orders, as well as the weekly jobless claims.
Among the sectors that he says have become irresistibly inexpensive are the energy, durable-goods, and insurance sectors.
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Durable-goods orders rebounded by 9.9% when expectations had been for a gain of around 8% to 8.3%.
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Next Tuesday, we get the latest reading on new-home sales, followed by the latest durable-goods numbers on Wednesday.
Then Monday morning, another report showed that U.S. durable-goods orders rose by a much higher-than-forecast 4.6% in December.
Michigan's unemployment rate has dropped in recent months, thanks to the addition of 10, 000 jobs in durable-goods manufacturing.
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On Wednesday, we get durable-goods orders, personal income and outlays, jobless claims, and the University of Michigan Consumer Survey.
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Durable-goods orders plunged 13.2% in August, partly because companies are too scared to invest their cash mountains to expand production.
The week ended with a slight increase in durable-goods orders, while consumer sentiment continues to drop as concerns over the fiscal cliff mount.
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On Wednesday, the market will also likely be watching the durable-goods report, which will be followed Thursday by the final readings on second-quarter GDP.
Wednesday will bring the latest numbers on durable-goods orders, followed Thursday by the final reading on second-quarter GDP, jobless claims, and pending home sales.
And on November 4th, the Commerce Department said the fall in durable-goods orders in September, though steep, was not quite as bad as first estimated.
On October 25th, figures showed durable-goods orders fell sharply in September.
Wednesday will bring the latest numbers on durable-goods orders, and later in the day the Federal Open Market Committee meeting, after which Ben Bernanke will have his unprecedented press briefing.
Go back just a few more days, to last Friday, and there was another report that the Obama campaign would like to crumple up: U.S. durable-goods orders dropped by 0.4 percent in July, excluding the volatile transportation sector.
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Expectations are for jobless claims to fall to 370, 000 to 375, 000, which would be down from 388, 000 the prior week, and for September durable-goods orders to bounce back by around 8% to 8.3% after a 13.2% drop in August.
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The company's products are used by diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction as well as other durable and non-durable goods.
On Wednesday, the Commerce Department reported that orders for durable goods -- orders to factories for manufactured goods meant to last at least three years -- came in weaker than expected, declining 0.4% in October.
And orders for non-durable goods, such as processed food and clothing, also rose - by 0.8%.
The Commerce Department also reported that orders for non-transportation durable goods in January rose by a stronger-than-expected 1.9% (the most in a year).
The Furniture Village chain - which, as a vendor of big-ticket durable goods, is particularly sensitive to consumer frugality - reported almost a thousand transactions at its 40 stores by mid-afternoon on Boxing Day, putting it on course to beat the 1, 200 sales it closed on the same day in 2011.
The first report was a big drop in growth for both the Durable Goods and Core Durable Goods which came in at -1.0% and -0.6% respectively.
Orders for all durable goods - products expected to last at least three years - were up by 5.6%.
Non-durable goods orders also posted the steepest decline since that period, falling 2.0%.
The stock market was hit with many negatives this week, including weaker-than-expected durable goods and GDP numbers.
After bottoming out at the beginning of 2009, orders for U.S.-made durable goods had been rising smartly until they lost steam again over the last couple of months.
Would the Fed use a quick depression as a cure to devalue the over-priced durable goods by raising the interest rate as a catalyst to thwart off the irrational exuberance since the economy is doomed to the Self-induced Paralysis?
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Though the better-than-expected durable goods figures gave Wall Street a boost, Wednesday's economic data ultimately became mixed after the Commerce Department reported that new home sales fell short of expectations, dropping 0.6% in May to a rate of 342, 000.
Durable goods orders ex-aircraft orders fell 2.7% in February.
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