- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
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...
by Tom Moeller January 27, 2017
New orders for durable declined 0.4% during December (+1.6% y/y) following a little-revised 4.8% November drop. A 3.0% rise had been expected in the Action Economics Forecast Survey.
The decline in orders was prompted by a 2.2% drop (-2.1% y/y) in transportation sector orders, which reflected a 25.5% shortfall in aircraft orders. Motor vehicle & parts orders increased 2.0% (4.3% y/y). Durable goods orders excluding the transportation sector rose 0.5% (3.5% y/y).
Orders for computers & electronic products improved 2.4% (4.3% y/y) as communications equipment bookings rose 4.9% (13.5% y/y). Computers & related product orders fell 6.0% (-9.8% y/y). Electrical equipment orders improved 0.6% (1.0% y/y), and machinery orders rose 0.4% (4.5% y/y). Primary metals orders eased 0.9% (+4.4% y/y).
Shipments of durable goods increased 1.4% (3.1% y/y), helped by a 1.8% gain (0.7% y/y) in nondefense capital goods shipments. Excluding aircraft, civilian product shipments rose 1.0% (-2.5% y/y). Machinery shipments jumped 1.6% (-2.4% y/y), and computer & electronic product shipments improved 0.5% (6.2% y/y).
Unfilled orders of durable goods declined 0.6% (-1.4% y/y), but excluding transportation, order backlogs rose 0.4% (2.2% y/y). Unfilled orders for computers & electronic appliances rose 0.7% (4.6% y/y), and unfilled orders for electrical equipment strengthened 1.8% (11.1% y/y). Transportation equipment backlogs fell 1.1% (-3.1% y/y).
Inventories of durable goods remained steady (-1.0% y/y). Inventories excluding the transportation sector increased 0.2% (-0.8% y/y). Machinery inventories accumulated 0.5% (-1.5% y/y), while computer & electronic product inventories eased 0.1% (0.0% y/y).
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||Dec||Nov||Oct||Dec Y/Y||2016||2015||2014|
|New Orders (SA, %)||-0.4||-4.8||5.0||1.6||-0.4||-2.9||4.8|
|Total Excluding Transportation||0.5||1.0||1.1||3.5||-0.5||-2.3||3.8|
|Nondefense Capital Goods||3.8||-20.0||14.8||7.7||-5.2||-9.6||1.2|