"Next month, President Obama will appear on the cover of The Economist magazine. It’s their annual April Fool’s issue." -- NewsBusted anchor Jodi Miller
The Census Burau's February Durable Goods report, released at 8:30 a.m. today, "unexpectedly" (Bloomberg did the U-word honors) came in with a seasonally adjusted 1.4 percent decline compared to the 0.2 increase analysts expected. Additionally, January's increase was revised down to 2.0 percent from 2.8 percent. Not adjusting for inflation, unadjusted (i.e., actual) February orders came in 2.3 percent below February 2014. Pending adjustments to February's figures, durable goods orders have declined by 5.3 percent in the past four months.
Despite all of this, the Associated Press's primary story on durable goods by Martin Crutsinger was gone from its Top Business Stories page by 2 p.m.