- Retail Trade, Household Consumption (Feb), Population (Feb)
- Mauritius: PPI (Feb-Prelim)
- Business Sentiment Survey (Mar)
- Korea: Building Permits (Feb); Philippines: LFS (Q3); Thailand: PPI (Mar-Press)
- Japan: First Ten Days Trade (Mar), International Trade, Real Trade Indexes (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency
- 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 April 4, 2016
New orders in the manufacturing sector declined 1.7% during February (+0.1% y/y) and reversed the prior month's 1.2% increase. The decline reflected a little-revised 3.0% drop in durable goods orders. These orders were pulled lower by a 6.2% decline in transportation sector bookings as well a 3.6% drop in orders for electrical equipment. Nondurable goods orders (which equal shipments), eased 0.4% (-7.4% y/y), the eight decline in as many months. A 2.1% decline in orders to petroleum refineries led the decline as prices fell. Textile product orders also were off 1.1% (+5.3% y/y) while basic chemical orders remained little changed (+4.4% y/y). Shipments of durable goods declined 1.0% as machinery orders were off 3.1% (-0.6% y/y), but orders for computers & electronic products increased 1.1% (8.4% y/y).
Unfilled orders in the factory sector eased 0.3% (-1.6% y/y) after a 0.1% up tick. Unfilled orders of transportation equipment fell 0.6% (-1.7% y/y). Excluding the transportation sector, order backlogs gained 0.2% (-1.3% y/y) led by a 1.3% jump (-0.2% y/y) in electrical equipment, appliances & components.
Inventories in the factory sector fell 0.4% (-2.5% y/y). Nondurable goods inventories declined 0.5% (-3.8% y/y), led lower by a 5.5% decline (-28.6% y/y) in the value of petroleum inventories. The value of basic chemical inventories was little-changed (-0.8% y/y) and apparel inventories increased 0.6% (10.8% y/y). Durable goods inventories eased -0.3% (-1.7% y/y), and have been falling steadily for nearly a year.
The factory sector figures are available in Haver's USECON database. The expectations figure from the Action Economics Forecast Survey is available in AS1REPNA.
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