- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
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)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Sandy Batten May 4, 2016
New factory orders jumped up 1.1% m/m in March following a slightly revised 1.9% m/m decline in February in a continuation of the recent monthly see-saw pattern. The Action Economics Forecast Survey had anticipated a 0.6% m/m rise for March. Durable goods orders for March (the advance report was released on April 26) were unrevised in today's report, rising 0.8% m/m following a 3.1% m/m decline in February. As in the advance report, durable goods orders in March were propelled by a 2.8% m/m increase in orders for transportation equipment, mostly defense aircraft (+65.3% m/m).
Besides revisions to the durable goods figures, the new information in this report was on nondurable goods. Those orders surged 1.5% m/m in March, their first monthly increase in nine months and their largest monthly rise since July 2013
Shipments of manufactured goods rose 0.5% m/m in March, following eight consecutive monthly declines. The rise in March was due solely to a surge in shipments of nondurable goods, up 1.5%, led by an outsize 8.8% m/m jump in shipments of petroleum products. Shipments of durable goods fell 0.5% m/m in March, their third monthly decline in the past four months.
Unfilled orders slipped 0.1% m/m in March, their third decline in the past four months. The March slip was due entirely to weaker transportation unfilled orders. Excluding those, other unfilled orders were up 0.1% m/m for a third consecutive monthly increase.
Factory inventories posted their first monthly increase in the past nine months, rising 0.2% m/m in March, with both durable and nondurable inventories posting a monthly gain. Given the widespread revival in inventories after months of decline, this may be the first indication that the long-lived inventory correction has run its course. Also, the rise in nondurable inventories runs counter to the BEA's assumption in its first estimate of 1Q GDP, pointing to a small upward revision from this source.
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 (%)||Mar||Feb||Jan||Y/Y||2015||2014||2013|