Durable Goods Orders Up in February but Downward Revisions Erase Gains

New orders for durable goods rose 1.4% in February but January saw a huge downward revision from -6.1% to -6.9%, wiping out previous gains.

Revisions mirror jobs data, with high initial growth figures later revised down, erasing gains.

Durable goods orders up just 13.5% since Biden took office, while inflation is up 18.5% in that period.

Volatile monthly changes recently after declines in Dec, gains in Nov & Oct, decline in July 2023.

BLS overestimated 2023 monthly job gains by 105K on average, equating to 1.3 million fewer jobs.