- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
- more updates...
Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
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...
by Tom Moeller February 6, 2017
Manufacturing sector orders increased 1.3% during December (2.0% y/y) following a 2.3% November decline. Durable goods orders eased 0.5% (-0.7% y/y). Transportation sector orders fell 2.5% (-5.7% y/y) with a 64.0% plunge in defense aircraft & parts orders. Orders excluding defense rose 2.4% (1.9% y/y) following a 3.2% drop. Orders outside of the transportation sector increased 2.1% (3.8% y/y) as bookings for computers & electronic products jumped 2.6% (4.7% y/y). Machinery orders improved 0.7% (5.3% y/y), but electrical equipment orders eased 0.6% (5.3% y/y) following strong gains in the prior two months. Nondurable goods orders (which equal shipments) jumped 3.1% (3.5% y/y).
The rise in nondurable goods shipments reflected a 15.3% surge (21.6% y/y) in petroleum refinery shipments. Basic chemical shipments gained 1.1% (2.3% y/y), and textile mill shipments rose 2.7% (6.6% y/y) after two months of strong gains. Food product shipments also were strong and posted a 1.1% rise (3.3% y/y). Paper product shipments gained 0.7% (1.1% y/y). Durable goods shipments improved 1.4% (3.1% y/y). Transportation equipment shipments jumped 2.4% (4.5% y/y) led by strength in the aircraft sector. Machinery shipments increased 1.6% (-2.2% y/y), and computer & electronic product shipments rose 0.8% (6.4% y/y).
Unfilled orders declined 0.6% (-1.7% y/y) continuing the weak trend of the last year. Transportation sector backlogs fell 1.1% (-3.1% y/y). Outside of the transportation sector, unfilled orders improved 0.4% (2.3% y/y). Electrical equipment & appliance backlogs increased 1.3% (10.4% y/y) after a 2.3% surge. Unfilled orders for computers & electronic products gained 0.7% (4.6% y/y), but machinery order backlogs ticked just 0.1% higher (-4.0% y/y).
Inventories in the factory sector edged just 0.1% higher in December (0.2% y/y) after a 0.5% gain. Outside of the transportation sector, inventories rose 0.2% (0.2% y/y). Durable goods inventories eased 0.1% (-1.1% y/y), but fabricated metals inventories fell 0.3% (-1.3% y/y), down for the fourth month in the last five. Machinery inventories increased 0.5% (-1.7% y/y), but inventories of computers & electronic products fell 0.3% (-0.2% y/y). Electrical equipment inventories remained unchanged (-1.5% y/y).
The factory sector figures are available in Haver's USECON database.
|Factory Sector- NAICS Classification (%)||Dec||Nov||Oct||Dec Y/Y||2016||2015||2014|