- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
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)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
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|