WASHINGTON (Reuters) - New orders at factories jumped by an unexpectedly large 1 percent in December despite a drop in transportation equipment orders, while inventories shrank, a government report showed on Thursday.
Analysts polled by Reuters expected orders to increase by 0.5 percent. Factory orders for November were revised up to a 1 percent gain.
Transportation orders fell by 0.5 percent on a 34.1 percent drop in civilian aircraft orders. Excluding transportation, new orders rose 1.2 percent in the month.
Inventories fell for the first time in three months, dipping 0.1 percent.
The inventories-to-shipments ratio slipped to 1.29, the lowest since August 2008.
http://www.reuters.com/article/idUSTRE6133IB20100204
The business cycle rolls on.
* * * * * J B K * * * * *
San Francisco
Thursday, February 04, 2010
Geithner: Banks must pay fully for bailout | Reuters
WASHINGTON (Reuters) - The Obama administration is prepared to impose fees on financial firms for as long as necessary to ensure that every cent spent on bailing out banks is repaid, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
Barack Obama
A proposed Financial Crisis Responsibility fee that is projected to raise $90 billion over 10 years could be extended if the cost of the bailout exceeds that amount, Geithner said in testimony before the Senate Finance Committee.
"The fee can and will be extended until every penny of taxpayer assistance to the financial system has been repaid and the cost of the rescue to taxpayers is zero," Geithner said.
http://www.reuters.com/article/idUSTRE6113IB20100202
* * * * * J B K * * * * *
San Francisco
James B. Klein
Paterson Financial Services
WEBSITE: paterson.com
WEBLOG: paterson-financial-services.blogspot.com
NEWS WEBLOG: paterson-financial-services-news.blogspot.com
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