When Down Can Actually Mean Up...

Headlines today blared "Durable goods orders tumbled in June" (contract office furniture is considered a durable good) which should be BAD news... (but wait there is more....)

When you actually read under the headlines, the article goes onto say:

"Excluding the volatile transportation sector, orders for durable goods were actually up by 1.1 percent in June, a better performance than the flat reading economists had expected"

In plain English this means that excluding cars & trucks, sales of everything else durable was actually UP... which is GOOD news. The article went onto say that:

"The U.S. economy has been mired in its longest recession since the end of World War II but there have been increasing signs that the worst of the downturn may be over."

WOW - was that possibly some good economic news for a change!

article source:cnbc.com