- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Japan: Index of Business Conditions (Feb-Final)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
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|