Wall Street Journal Regurgitates Misleading Government Data on Durable Goods

by Lee Adler
Wall Street Examiner

The Wall Street Journal today dutifully reported the Commerce Department’s seasonally adjusted data on Durable Goods orders in July, proclaiming:

U.S. Durable-Goods Orders Rebounded in July, Jumping 4.4%

However, the actual, not seasonally adjusted data tells another story. It’s easy to actual data to tell if the momentum of the business is gaining or losing ground. Just compare the year to year change for the current month with immediate past months.

The actual data showed a year to year decline of -6.4% and a month to month decline of -13.7%.

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