More Than...Less Than...

I know I just started this series, and I don't want to beat it to death, but it's a big day for the miscalculations of key economic data.

"New orders at U.S. factories tumbled by a greater-than-expected 5.6%."

That is the biggest decline in over 6 years. The Commerce Department said some of the drop was due to less orders for airplanes.

"Pending sales of existing U.S. homes fell a sharper-than-expected 4.1% in January." That's a surprise...yeah right.

Side note: It seems that a combination of rather disturbing economic data combined with continued talks of recession by Greenspan have not affected the market as it is up somewhere between 80-90 points as I am writing this post.