- US: Kansas City Fed Mfg Survey (Aug)
- US: Advance Durable Goods (Jul)
- Markit PMI: Composite Survey - United States (Flash - Aug), Services Survey - United States (Flash - Aug)
- UK: CML Survey of Mortgage Lenders (Jul), CBI Distributive Trades Survey (Q3, Aug)
- Ireland: Population (2016)
- Oman: GDP (Q1), CPI (Jul), Public Finance (Jun); Ghana: PPI (Jul)
- more updates...
Economy in Brief
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Initial claims for unemployment insurance eased to 261,000 (-4.0% y/y) during the week ended August 20...
German IFO Survey Fades
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U.S. Existing Home Sales and Prices Weaken Unexpectedly
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U.S. FHFA House Price Index Loses Momentum
The FHFA index of U.S. house prices rose a modest 0.2% in June for the third consecutive month...
Finland's PPI Continues to Descend
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U.S. New Home Sales Surge While Prices Ease
Sales of new single-family homes increased 12.4% (31.3% y/y) to 654,000 (SAAR) during July...
by Tom Moeller August 25, 2016
New orders for durable goods rose 4.4% during July (-3.3% y/y) following a 4.2% June decline, revised from -3.9%. A 3.3% increase had been expected in the Action Economics Forecast Survey.
The rise in orders was led by a 10.5% jump (-7.9% y/y) in orders for transportation equipment. Nondefense aircraft & parts orders surged 89.9% (-21.1% y/y) following a 59.7% drop. Defense aircraft bookings gained 20.3% (-4.5% y/y) after three months of sharp decline. Motor vehicle & parts orders remained little changed (-2.1% y/y), and have been moving sideways for a year.
Orders outside of the transportation sector increased 1.5% (-0.6% y/y) to the highest level since January. Nevertheless, orders remained 4.6% below the mid-2014 peak. Orders for computers & electronic products increased 3.6% (3.5% y/y) as computers & related product orders rose 10.3% (-9.2% y/y). Electrical equipment & appliance orders gained 2.6% (-4.9% y/y) and machinery orders rose 1.6% (-5.3% y/y). Fabricated metal orders rose 1.5% (3.3% y/y) while primary metal orders improved 1.4% (-4.1% y/y).
Nondefense capital goods orders rebounded 10.2% (-8.6% y/y) following two months of sharp decline. Orders excluding aircraft recovered 1.6% (-4.9% y/y) to the highest level in six months.
Shipments of durable goods improved 0.2%, but also have been moving sideways since late last year. Shipments outside of the transportation sector improved 0.4% (-1.4% y/y) following several months of little change. Unfilled orders of durable goods were roughly unchanged (-2.1% y/y), but rose 0.3% (0.2% y/y) excluding transportation to the highest level since April of last year. Inventories increased 0.3% (-2.6% y/y) to the highest level in tree months. Outside of transportation inventories rose 0.3% (-3.2% y/y), only the second rise since early last year.
The durable goods figures are available in Haver's USECON database. The Action Economics consensus forecast figure is in the AS1REPNA database.
|Durable Goods NAICS Classification||Jul||Jun||May||Jul Y/Y||2015||2014||2013|
|New Orders (SA, %)||4.4||-4.2||-2.9||-3.3||-2.9||4.8||2.8|
|Total Excluding Transportation||1.5||-0.3||-0.5||-0.6||-2.3||3.8||-0.1|
|Nondefense Capital Goods||10.2||-10.9||-1.7||-8.6||-9.6||1.2||4.2|