- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans & Deposits, Monetary Aggregates, Banking System Surveys (Mar)
- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
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|