Santelli: "GDP Numbers Are Depressing"
Short clip from a few hours ago. Runs 30 seconds.
Durable Goods Orders Fall By Most Since 2008
New durable goods orders in August fell by the most since 2008 and a separate reading on the broader U.S. economy came in much weaker than expected.
New orders for long-lasting U.S. manufactured goods in August fell by the most in 3 1/2 years, pointing to a sharp slowdown in factory activity even as a gauge of planned business spending rebounded.
The Commerce Department said on Thursday durable goods orders dived 13.2 percent, the largest drop since January 2009, when the economy was in the throes of a recession. Orders for July were revised down to show a 3.3 percent increase instead of the previously reported 4.1 percent gain.
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Here's the full clip:
Rick Santelli breaks down the latest economic numbers on unemployment, durable goods and GDP, with Steve Liesman.
Sep 27, 2012 at 2:13 PM
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