Courtesy of Doug Short, here is an excellent pair of charts on Real Per Capita “Core” Durable Goods Orders

Core Durable Goods

click on either chart for sharper image

Core Durable Goods Percent Decline From Peak

Doug Short does excellent work. Click on the top link to see additional charts.

I have little to add other than this is how recessions start, an opinion expressed earlier in Durable Goods Orders Ex-Transportation “Unexpectedly” Drop, Down Third Month, July Revised Lower; GDP +1.3% Second Quarter; June Recession Call Looking More Likely.

Mike “Mish” Shedlock
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