- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
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|