- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller May 26, 2016
New orders for durable goods jumped 3.4% during April (1.9% y/y) following a 1.9% March increase, revised from 0.8%. A 0.2% April gain had been expected in the Action Economics Forecast Survey. Data were revised back to 2001.
A 64.9% rise (5.1% y/y) in orders for civilian aircraft drove total transportation sector orders 8.9% higher (8.2% y/y). Orders for defense aircraft & parts declined 4.5% (+29.8% y/y) and motor vehicle & parts orders gained 2.9% (4.1% y/y). Excluding the transportation sector altogether, total durable goods orders improved 0.4% (-1.4% y/y) after a 0.1% rise.
Business investment remained soft. Nondefense capital goods orders excluding civilian aircraft eased 0.8% (-5.0% y/y), down for the fifth month in the last six.
A 1.9% decline (-7.1% y/y) in machinery orders exemplified the weakness in capital spending. It was the third consecutive monthly decline. To the upside, orders for electrical equipment, appliances & components improved 0.5% (-8.6% y/y) following three consecutive months of decline, and computer & electronic products orders gained 1.9% (+4.0% y/y). Primary metals orders remained roughly unchanged (-9.2% y/y).
Shipments of durable goods improved 0.6% (-1.2% y/y) after easing 0.8% for two straight months. Shipments excluding transportation gained 0.3% (-1.9% y/y). Unfilled orders for durable goods rose 0.6% (-1.7% y/y), and excluding transportation they rose 0.1% for the third straight month (-0.4% y/y). Inventories declined 0.2% (-2.3% y/y), and they've been falling since June.
The durable goods figures are available in Haver's USECON database. The Action Economics consensus forecast figure is in the AS1REPNA database.
|Durable Goods NAICS Classification||Apr||Mar||Feb||Apr Y/Y||2015||2014||2013|
|New Orders (SA, %)||3.4||1.9||-3.3||1.9||-2.9||4.8||2.8|
|Total Excluding Transportation||0.4||0.1||-1.5||-1.4||-2.3||3.8||-0.1|
|Nondefense Capital Goods||7.8||-0.1||-7.9||-4.5||-9.6||1.2||4.2|