Timothy R. Homan

After reading Derek Kravitz's final report of the day at 4:45 p.m. on the housing market at the Associated Press, aka the Administration's Press, I just had to check the other wires to see if they were sipping from the same housing-market-in-recovery koolaid. The answer is no. At Reuters, Jason Lange's 3:22 p.m. dispatch reported that "Output at U.S. factories slipped in March and builders…

At the Associated Press, covering today's durable goods report from the Census Bureau, Martin Crutsinger wrote that "Orders for durable goods fell 4 percent last month." No they didn't. They fell by a seasonally adjusted 4%. The raw data before seasonal adjustment says that they fell by over 15%: