- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller October 27, 2016
New orders for durable goods slipped 0.1% (+1.6% y/y) during September after a 0.3% August rise, revised from zero change. A 0.2% gain had been expected in the Action Economics Forecast Survey. Despite the latest decline, downward momentum in orders has reversed.
Nondefense capital goods orders improved 1.5%, but were little changed y/y. Orders excluding aircraft declined 1.2% (-4.1% y/y), and fully reversed the prior months strength. During the last three months, however, these orders have risen at a 3.3% rate.
Orders for transportation equipment fell 0.8% (+4.9% y/y) following a 0.6% increase. Aircraft & parts bookings declined 9.2% due to a 44.8% drop (-54.7% y/y) in orders for defense aircraft. Nondefense aircraft & parts orders rebounded 12.5% (14.4% y/y) after a 24.2% decline.
New orders outside of the transportation sector improved 0.2% (-0.0% y/y) after a 0.1% rise. Electrical equipment orders rebounded 1.5% (-2.7% y/y) following a 2.4% decline. Machinery orders grew 1.2% (-6.0% y/y) following little change. Offsetting these increases was a 1.0% decline (+1.9% y/y) in computer & electronic product orders which followed a 0.2% dip. Computer & related product orders declined 8.6% (-17.7% y/y); their value has been falling steadily since the economic recovery began. Primary metals orders eased 0.3% (+0.4% y/y) after two months of strong increase while fabricated metals orders fell 0.4% (+2.6% y/y).
Shipments of durable goods increased 0.8% (-1.1% y/y) after little change during the prior two months. Outside of the transportation sector shipments improved 0.1% (-1.1% y/y) after two months of 0.3% gain. Unfilled orders fell 0.4% (-1.6% y/y), the fourth consecutive month of decline. Outside of the transportation sector, backlogs improved 0.2% (0.7% y/y) after a 0.1% uptick. Inventories of durable goods increased 0.1% (-1.6% y/y) for a second month, while excluding aircraft they rose 0.2% (-1.8% y/y) for the third month in four.
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||Sep||Aug||Jul||Sep Y/Y||2015||2014||2013|
|New Orders (SA, %)||-0.1||0.3||3.6||1.6||-2.9||4.8||2.8|
|Total Excluding Transportation||0.2||0.1||1.1||-0.0||-2.3||3.8||-0.1|
|Nondefense Capital Goods||1.5||-3.9||7.7||-0.1||-9.6||1.2||4.2|