Sigh

Sez Dr. Joe:

June 2005 printing shipments were down -$94 million compared to June 2004 shipments. On an inflation-adjusted basis, they were down by -$334 million. For the first six months of the year, shipments are up +$254 million in current dollars, but down -$1.1 billion on an inflation-adjusted basis. On the bright side, May's shipments were revised up by +$18 million in current dollars.