It definitely is a weak number and is symptomatic of how weak this economy really is. I think this tells us the slowdown accelerated a little more than we expected.
This number will be overlooked. The issue is not inflation. If anything, it's deflation because the economy is just so weak.
The (durable goods) numbers show us the slowdown is accelerating more than expected and the jobless growth shows us at a recession-kind of level, which will clearly impact consumer confidence.