Durable Goods New Orders

Many people who are optimistic about economic growth site “New Orders” as a rationale.

For reference purposes, here is a chart of Durable Goods New Orders, through 6-1-10, on a Percent Change From Year Ago basis:

source: St. Louis Fed

Below is the latest ECRI WLI Growth chart.  I find the (loose) resemblance (from 2008) of it to the New Orders chart shown above to be curious.  Of course, the ECRI WLI Growth chart is more current (updated through Friday) and has a recent rapid downward trajectory to it:

source: Doug Short’s blog

(click on above images to enlarge charts)

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SPX at 1115.57 as this post is written