Freddie Mac, Durable Orders…Both Improve

Durable orders were up .8% in June, after a slight increase of .1% in May.  Durable goods (washing machines, forklifts and computers etc…) are a good indicators of economic resilience and the past two months have shown increases in the purchase of these products.

I’ve posted before here and other places that 70% of our economy is driven by consumption.  If we continue to consume responsibly and appropriately we will see a rebound.  I think we need to be a bit more sensible about our consumption which one would argue got many people into the housing situation they now face.  I am sure the stimulus checks are having an impact by now, and I read that congress is making noise about another stimulus package in the fall…stay tuned.

Also in June, Freddie Mac’s portfolio grew by an annualized 33% for June.  Good news for the troubled mortgage company.

Read more here:

http://www.reuters.com/article/businessNews/idUSN2538843020080725?feedType=RSS&feedName=businessNews

Tags: durable goods orders, fannie mae, freddie mac, good economic news, mortgage crisis, Positive Economic News