- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller March 3, 2016
New orders in the manufacturing sector increased 1.6% (-3.3% y/y) during January following an unrevised 2.9% December decline. The rise compared to expectations for a 1.5% increase in the Action Economics Forecast Survey. The improvement reflected a 4.7% jump in durable goods orders (reported last week)), powered by a 54.4% surge in orders for commercial aircraft. In addition, defense aircraft orders nearly doubled m/m (26.0% y/y). Outside of the transportation altogether, factory orders eased 0.2% (-5.1% y/y). Orders for nondurable goods, which equal shipments, declined 1.4% (-6.7% y/y), dragged down by an 11.6% drop (-28.9% y/y) in the value of shipments from petroleum refineries. Apparel shipments also declined 1.7% (-3.6% y/y) but textile mill shipment were little changed (-2.7% y/y). Shipments of paper products edged 0.2% higher (-1.8% y/y). Shipments of durable goods increased 2.0% as transportation equipment shipments jumped 5.6% (3.2% y/y). The value of shipments overall, less the transportation sector eased 0.7% (-5.2% y/y).
Unfilled orders in the factory sector improved 0.1% (-1.7% y/y) following a 0.5% drop. Outside of the transportation sector, unfilled orders increased 0.2%, but still were down 2.0% y/y. Backlogs of durable goods improved 0.1% (-1.7% y/y) and unfilled orders for transportation equipment remained unchanged (-1.5% y/y).
Manufacturing sector inventories fell 0.4% (-1.9% y/y), the seventh consecutive month of decline. Inventories excluding transportation were off 0.7% (-3.0% y/y). Machinery inventories declined 0.4% (-1.3% y/y) and electrical products inventories fell 0.4% (-2.7% y/y). Nondurable goods inventories were off 0.9% (-3.3% y/y) as petroleum inventories declined 6.7% (-23.1% y/y). Chemical inventories fell 0.4% (-1.4% y/y) while food product inventories remained unchanged (-0.1% 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 (%)||Jan||Dec||Nov||Y/Y||2015||2014||2013|