{"id":6846,"date":"2015-03-26T06:07:53","date_gmt":"2015-03-26T11:07:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6846"},"modified":"2015-03-26T06:07:53","modified_gmt":"2015-03-26T11:07:53","slug":"us-economy-heads-toward-zero-growth-in-q1","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6846","title":{"rendered":"US Economy Heads Toward Zero Growth in Q1"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2015\/03\/25\/q1-gdpnow-nowcast-heads-toward-zero-growth-escape-velocity-stalls\/\" target=\"_blank\">US Economy Heads Toward Zero Growth in Q1<\/a><\/h3>\n<p><strong>GDPNow: Wall Street\u2019s promise of Escape Velocity is a joke.<\/strong><\/p>\n<p>The consistency with which nearly every report on the US economy has deteriorated over the last few months is astonishing. Only the jobs report has been spared that sharp downdraft. So we blame the weather, which in parts of the US was truly atrocious, while in other parts, particularly in California, it was gorgeous.<\/p>\n<p>Too gorgeous. This is supposed to be our rainy season, but every day the sun is out as we\u2019re heading into our fourth year of drought. Yet the drought isn\u2019t what keeps people from shopping or companies from ordering equipment. So out here, we\u2019re baffled when the weather gets blamed.<\/p>\n<p>Today\u2019s durable goods report for February was another shot at this wobbly edifice of the US economy.<\/p>\n<p>New orders for manufactured durable goods dropped by 1.4%, the Census Bureau reported. It was the third decrease in four months. Transportation equipment fell 3.5%, also the third decrease in four months. Excluding transportation, new orders \u2013 \u201ccore\u201d durable goods \u2013 fell 0.4%, down for the fifth month in a row.<\/p>\n<p>And Core Capital Goods New Orders, considered an important gauge of business spending, fell 1.4%, down for the sixth month in a row. The weather is really hard to blame for this, so folks blamed the strong dollar and slack demand in the US and globally.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Economy Heads Toward Zero Growth in Q1 GDPNow: Wall Street\u2019s promise of Escape Velocity is a joke. The consistency with which nearly every report on the US economy has deteriorated over the last few months is astonishing. Only the jobs report has been spared that sharp downdraft. So we blame the weather, which in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[101,4443,220,353,384,1264,841],"class_list":["post-6846","post","type-post","status-publish","format-standard","hentry","category-economics","tag-california","tag-core-capital-goods-new-orders","tag-drought","tag-gdp","tag-great-recession","tag-recession","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6846"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6846\/revisions"}],"predecessor-version":[{"id":6847,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6846\/revisions\/6847"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}