- 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 March 6, 2017
Manufacturing sector orders increased 1.2% (5.5% y/y) during January following an unrevised 1.3% December rise. Durable goods orders increased 2.0% (1.6% y/y). Transportation sector orders rebounded 6.2% (-4.2% y/y) with a two-thirds surge in nondefense aircraft & parts. Defense aircraft & parts orders similarly strengthened. Total factory sector orders excluding defense improved 1.0% (5.5% y/y) following a 2.4% gain. Orders outside of the transportation sector increased 0.3% (7.5% y/y). Bookings for computers & electronic products declined 1.9% (+4.0% y/y). Machinery orders improved 0.9% (4.3% y/y), but electrical equipment orders eased 2.6% (+0.9% y/y).
Durable goods shipments remained unchanged (3.9% y/y). Transportation equipment shipments eased 0.2% (+1.5% y/y), auto shipments gained 1.3% (-13.4% y/y). Nondefense aircraft shipments rose 0.3% (-7.3% y/y) and defense aircraft & parts shipments fell 5.6% (-15.4% y/y). Shipments of machinery fell 1.2% (+2.1% y/y), and computer & electronic product shipments jumped 6.0% (8.9% y/y).
Total factory sector shipments gained 0.2% (6.7% y/y). Nondurable goods shipments (which equal orders) improved 0.4% (9.5% y/y). The rise reflected a 2.4% increase (47.1% y/y) in petroleum refinery shipments. Basic chemical shipments were little-changed (5.1% y/y), and textile mill shipments rose 0.7% (3.0% y/y) after three months of strong gains. Food product shipments posted a 0.3% rise (3.6% y/y). Paper product shipments eased 0.7% (+1.7% y/y).
Unfilled orders declined 0.4% (-2.0% y/y) continuing the weak trend of the last year. Transportation sector backlogs fell 0.7% (-3.9% y/y). Outside of the transportation sector, unfilled orders improved 0.4% (2.2 % y/y). Electrical equipment & appliance backlogs increased 0.3% (10.2% y/y) after two months of strong gain. Unfilled orders for computers & electronic products gained 0.4% (4.5% y/y), and machinery order backlogs improved 0.6% (-3.6% y/y).
Inventories in the factory sector edged 0.2% higher in January (0.8% y/y). Outside of the transportation sector, inventories rose 0.3% (1.6% y/y). Durable goods inventories gained 0.1% (-0.7% y/y), but fabricated metals inventories improved 0.2% (-0.2% y/y). Machinery inventories fell 0.2% (-1.1% y/y), but inventories of computers & electronic products increased 0.9% (1.3% y/y). Electrical equipment inventories increased 0.5% (0.1% y/y).
The factory sector figures are available in Haver's USECON database.
Monetary Policy: By Rule, By Committee, or By Both? is the title of Friday's speech by Fed Vice Chairman Stanley Fischer, and it is available here.
|Factory Sector- NAICS Classification (%)||Jan||Dec||Nov||Jan Y/Y||2016||2015||2014|