- Japan: First Ten Days Trade (Mar), International Trade, Foreign Banks Foreign Banks in Japan (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency Assets, Liabilities, and Currency Flows (Feb); Australia: Flow of Funds (Q4), Job Vacancies (Q1)
- Korea: Building Permits (Feb); Philippines: LFS (Q3)
- US: IIP (Q4)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
by Tom Moeller February 4, 2016
New orders in the manufacturing sector fell 2.9% during December following a 0.7% easing in November, revised from -0.2%. The decline roughly matched expectations for a 2.7% drop in the Action Economics Forecast Survey. The shortfall reflected a 5.0% decline (-1.6% y/y) in durable goods orders which was little-revised from the advance report. Leading orders lower was a 29.3% drop (+4.8% y/y) in nondefense aircraft & parts orders. Factory sector orders excluding the transportation altogether eased 0.8% (-5.4% y/y), about the same as during the prior month. Orders for nondurable goods (which equal shipments) fell 0.8% (-7.1% y/y), off for the sixth straight month. A 3.3% decline (-27.6%y/y) in shipments from petroleum refineries dropped for the sixth consecutive month as prices fell. Also down by 0.8% (-3.3% y/y) were food product shipments. Basic chemical shipments remained little-changed (-1.1% y/y). Apparel shipments improved 0.4% but they were down slightly versus last year. Durable goods shipments declined 2.1% (-3.1% y/y), led by a 1.0% increase (-4.1% y/y) in machinery.
Unfilled orders in the manufacturing sector eased 0.5% (-2.0% y/y). Transportation sector backlogs also fell 0.5% (-1.8% y/y) led by a 3.2% decline (-2.0% y/y) in defense aircraft & parts. Outside of the transportation sector, backlogs declined 0.5% (-2.2% y/y). Machinery backlogs declined 2.0% (-8.9% y/y) but computer & electronic product backlogs increased 0.2% (5.7% y/y).
Factory sector inventories increased 0.2% (-1.7% y/y), the first increase in six months. Outside of the transportation sector, inventories were off 0.1% (-2.8% y/y), off for the sixth consecutive month. Primary metals inventories fell 0.6% (-12.0% y/y) but machinery inventories gained 0.7% (-0.9% y/y). Electrical equipment & appliance inventories eased 0.4% (-1.7% y/y) while computer & electronic product inventories notched 0.1% higher (0.2% y/y).
The factory sector figures are available in Haver's USECON database. The expectations figure from the Action Economics Forecast Survey is available in AS1REPNA.
|Factory Sector- NAICS Classification (%)||Dec||Nov||Oct||Y/Y||2015||2014||2013|