September 26, 2008

Real gross domestic product -the output of goods and services produced by labor and property in the U.S. -increased at an annual rate of 2.8% in the second quarter of 2008, (that is, from the first quarter to the second quarter), according to final estimates released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.9%.
 
The GDP estimates are based on more complete source data than were available for the preliminary estimates issued last month. In the preliminary estimates, the increase in real GDP was 3.3%.
 
The increase in real GDP in the second quarter primarily reflected positive contributions from exports, personal consumption expenditures (PCE), nonresidential structures, federal government spending, and state and local …

New orders for manufactured durable goods in August decreased $9.9 billion or 4.5% to $208.5 billion, the U.S. Census Bureau announced . This was the largest percentage decrease in new orders since January 2008 and followed three consecutive monthly increases including a 0.8% July increase. Excluding transportation, new orders decreased 3%. Excluding defense, new orders decreased 5.0%.
 
Shipments
Shipments of manufactured durable goods in August, down following two consecutive monthly increases, decreased $7.7 billion or 3.5% to $210.1 billion. This was the largest% decrease in shipments since December 2002 and followed a 2.3% July increase.
 
Unfilled Orders
Unfilled orders for manufactured durable goods in August, up thirty of the last …