Cleaning & Restoration Breaking News

Reports Show a Mixed View of Economy

August 26, 2004
/ Print / Reprints /
ShareMore
/ Text Size+
WASHINGTON (AP) -- Factory orders for costly manufactured goods in July recorded the biggest gain in four months. New-homes sales, meanwhile, slid, according to a pair of reports that offered a mixed picture of economic activity.

The Commerce Department reported Wednesday that orders for durables goods -- big-ticket items expected to last at least three years -- rose 1.7 percent in July from the previous month. Helping was a stronger demand for airplanes, machinery and communications equipment.

The largest increase since March followed a 1.1 percent gain in June. Also, July's showing was better than the 1 percent rise that some economists were forecasting.

A second report from the department showed that sales of new homes declined by a sharp 6.4 percent in July from the previous month to a seasonally adjusted annual rate of 1.13 million units. The decline, steeper than analysts expected, left home sales at their lowest level since December.

Sales in June declined 5.6 percent, according to revised figures, which showed sales were even weaker than previously reported.

The drop in home sales comes amid a sluggish jobs climate and high energy prices, which may have made some people wary of making a big financial commitment, analysts say.

Even with the slowdown, the chief economist at the National Association of Home Builders said he thinks sales of both new homes and previously owned homes are still are track to hit new record highs for all of 2004. "There's been some cooling, but the housing market is still in very, very good condition," David Seiders said.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

1/27/15 2:00 pm EST

Grow Your Business and Improve Operations with New Payment Technology

Attend this free webinar to learn how new developments in payment technology can help you close more jobs, increase upselling opportunities and improve operations.

Podcasts

While winter is considered the "slow season" for carpet cleaners, it can also be a season of great opportunity. In this episode of The Hitman Advertising Show, John Braun offers advice for keeping revenue consistent during the cold weather months so you're thriving - and not just surviving - the winter.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2014 Nov/Dec

The Nov/Dec ICS features content on how to get better meter readings, a roundtable on truckmount development, neighborhood marketing and more. Also included is the annual Buyer’s Guide and Directory.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

FinalCover.gif
The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.png

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view