Economic Reports Send Mixed Signals

Orders for big-ticket durable goods and sales of existing homes both fell in June, but analysts said Thursday that it’s too early to tell whether the anticipated economic slowdown has started.

“The numbers show some signs of a slowing in the economy, but it still seems to be doing well,” said economist Lynn Reaser of Barnett Banks Inc. in Jacksonville, Fla.

The declines were from record highs, she explained, and a big drop in initial claims for jobless benefits, also reported Thursday, suggest “an economy that still may be growing above the speed limit.”

The Commerce Department reported Thursday that factory orders for durable goods slipped 0.8 percent to a seasonally adjusted $169.1 billion in June, from a record $170.4 billion a month earlier.

In its report, the National Association of Realtors said sales of previously owned homes fell 2.3 percent in June.

The Labor Department also reported Thursday that first-time claims for jobless benefits fell by 45,000 last week to 322,000, lowest in six months.