- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
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)...
by Tom Moeller August 4, 2016
New orders to manufacturers declined 1.5% (-5.6 y/y) during June following a little-revised 1.2% May fall. A 1.7% decline had been expected in the Action Economics Forecast Survey. Durable goods orders fell 3.9%, the same as in the advance report, paced by a sharp drop in transportation sector bookings. Nondefense aircraft & parts orders fell 58.8% (-60.7% y/y). Factory sector orders outside of the transportation sector altogether improved 0.4% (-4.2% y/y) after a 0.2% gain.
Total shipments rose 0.7% (-3.2% y/y) after a 0.1% rise. Nondurable goods shipments, which equal orders, improved 1.0% (-4.6% y/y), led by a steady 3.9% increase (-23.7% y/y) in petroleum refinery shipments. Basic chemical shipments improved 0.5% (0.6% y/y) and textile mill shipments rose 0.2% (4.7 y/y). Apparel shipments declined 1.7% (+8.5% y/y). In the durable goods sector, shipments improved 0.4% (-1.9% y/y), led higher by a 1.4% gain (0.8% y/y) in transportation shipments. Machinery shipments eased, however, by 0.2% (-8.3% y/y).
Unfilled orders declined 0.8% (-1.9% y/y) as durable goods backlogs also fell 0.8% (-1.9% y/y). The decline was led by a 7.6% decrease (-7.7% y/y) in machinery backlogs, while unfilled orders in the transportation sector fell 1.2% (-2.7% y/y). Unfilled orders for computers & electronic products notched 0.1% higher (5.7% y/y).
Inventories of manufactured products eased 0.1% (-3.7% y/y), and have been declining steadily since late in 2014. Transportation equipment inventories fell 1.0% (-2.7% y/y). Outside of the transportation sector, inventories gained 0.2% (-4.0% y/y). Electrical equipment inventories declined 0.8% (-3.9% y/y), but machinery inventories rose 0.8% (-3.5% y/y). Inventories of nondurable goods improved 0.2% (-3.8% y/y), but there was a one-third y/y drop in the value of petroleum refinery inventories. Food product inventories gained 0.4% (2.1% y/y), and basic chemical inventories rose 0.4% (1.3% 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 (%)||Jun||May||Apr||Jun Y/Y||2015||2014||2013|