"It appears that the rise in orders in [May] may simply have been the eye of the storm. The fact is, [the] drop in durable goods orders implies that poor conditions will continue for manufacturers in the third quarter," says Jasinowski.
Future Not So Bright
May 19, 2003
The July Commerce Department report indicates that new orders for manufactured durable goods fell by 2% in June after rising by 2.7% the previous month, suggesting that manufacturing production will remain in a trough at least through the early months of the third quarter, according to Jerry Jasinowski, president of the National Association of Manufacturers.