- 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 Tom Moeller June 24, 2016
New orders for durable goods declined 2.2% during May (+3.2% y/y) following a 3.3% April increase, revised from 3.4%. A 0.8% decline had been expected in the Action Economics Forecast Survey.
Weakness in the transportation sector led total orders lower with a 5.6% drop (+10.5% y/y) following an 8.5% rise. Defense aircraft orders plunged 34.1% (-9.6% y/y) following a 9.0% decline. Adding to this decline, motor vehicle & parts orders fell 2.8% (+0.7% y/y) after a 1.8% rise. Orders for civilian aircraft & parts rose 1.0% (73.2% y/y) and built on a 69.4% surge.
Outside of the transportation sector altogether, orders for durable goods eased 0.3% (-0.4% y/y) following a 0.5% gain. Primary metal orders declined 1.4% (-8.3% y/y) and fabricated metal orders eased 0.3% (+3.0% y/y). Machinery bookings fell 0.2% (-5.6% y/y) and electrical equipment orders were off 0.1% (-5.5% y/y). Orders for computers & electronic products also eased 0.1% (+3.1% y/y) as computer & related products orders fell 2.5% (-12.1% y/y). To the upside, orders for communications equipment increased 4.7% (1.5% y/y).
Orders for nondefense capital goods eased 0.8% (+4.9% y/y) following an 8.7% rise. Excluding aircraft, nondefense capital goods orders fell 0.7% (-3.6% y/y, the third monthly decline this year.
Shipments of durable goods eased 0.2% (-1.1% y/y) and excluding aircraft they were off 0.1% (-1.5% y/y). Unfilled durable goods orders increased 0.2% (-0.9% y/y) and excluding transportation they were unchanged, both m/m and y/y. Inventories of durable goods declined 0.3% (-2.5% y/y), while outside of the transportation sector inventories eased 0.2% (-3.7% y/y).
The durable goods figures are available in Haver's USECON database. The Action Economics consensus forecast figure is in the AS1REPNA database.
Macroeconomic Sources of Recent Interest Rate Fluctuations from the Federal Reserve Bank of Chicago is available here.
|Durable Goods NAICS Classification||May||Apr||Mar||May Y/Y||2015||2014||2013|
|New Orders (SA, %)||-2.2||3.3||2.0||3.2||-2.9||4.8||2.8|
|Total Excluding Transportation||-0.3||0.5||0.3||-0.4||-2.3||3.8||-0.1|
|Nondefense Capital Goods||-0.8||8.7||0.3||4.9||-9.6||1.2||4.2|