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Why Today's Weak Durable Goods Numbers Foreshadow Low Confidence

Read More : Why Today's Weak Durable Goods Numbers Foreshadow Low Confidence

Consumers appear to be holding back on buying non-essential goods, and this could impact the economic recovery.

The durable goods orders contracted a dismal 5.7% in March, according to the United States Census Bureau, representing the largest decline in seven months-a far cry from the 4.3% rise in February and well below the Briefing.com estimate calling for a four percent decline.

Taking out the volatile transportation portion, durable goods fell 1.4%, versus the Briefing.com estimate of -0.1%, equaling the second straight month of declines.

The durable goods readings have largely been inconsistent, as reflected in the chart below, and suggest the economic recovery may be at risk.

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