- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- 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 25, 2016
New orders for durable goods rose 4.4% during July (-3.3% y/y) following a 4.2% June decline, revised from -3.9%. A 3.3% increase had been expected in the Action Economics Forecast Survey.
The rise in orders was led by a 10.5% jump (-7.9% y/y) in orders for transportation equipment. Nondefense aircraft & parts orders surged 89.9% (-21.1% y/y) following a 59.7% drop. Defense aircraft bookings gained 20.3% (-4.5% y/y) after three months of sharp decline. Motor vehicle & parts orders remained little changed (-2.1% y/y), and have been moving sideways for a year.
Orders outside of the transportation sector increased 1.5% (-0.6% y/y) to the highest level since January. Nevertheless, orders remained 4.6% below the mid-2014 peak. Orders for computers & electronic products increased 3.6% (3.5% y/y) as computers & related product orders rose 10.3% (-9.2% y/y). Electrical equipment & appliance orders gained 2.6% (-4.9% y/y) and machinery orders rose 1.6% (-5.3% y/y). Fabricated metal orders rose 1.5% (3.3% y/y) while primary metal orders improved 1.4% (-4.1% y/y).
Nondefense capital goods orders rebounded 10.2% (-8.6% y/y) following two months of sharp decline. Orders excluding aircraft recovered 1.6% (-4.9% y/y) to the highest level in six months.
Shipments of durable goods improved 0.2%, but also have been moving sideways since late last year. Shipments outside of the transportation sector improved 0.4% (-1.4% y/y) following several months of little change. Unfilled orders of durable goods were roughly unchanged (-2.1% y/y), but rose 0.3% (0.2% y/y) excluding transportation to the highest level since April of last year. Inventories increased 0.3% (-2.6% y/y) to the highest level in tree months. Outside of transportation inventories rose 0.3% (-3.2% y/y), only the second rise since early last year.
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||Jul||Jun||May||Jul Y/Y||2015||2014||2013|
|New Orders (SA, %)||4.4||-4.2||-2.9||-3.3||-2.9||4.8||2.8|
|Total Excluding Transportation||1.5||-0.3||-0.5||-0.6||-2.3||3.8||-0.1|
|Nondefense Capital Goods||10.2||-10.9||-1.7||-8.6||-9.6||1.2||4.2|