- February new orders (-0.7%), durable goods orders (-1.0%), nondurable goods orders (-0.4%), and shipments (-0.5%) all drop m/m for the third time in four months.
- Unfilled orders dip 0.1%, the first m/m decline since August ’20.
- Inventories ease 0.1% for the second consecutive month.
Introducing
Winnie Tapasanun
in:Our Authors
Winnie Tapasanun has been working for Haver Analytics since 2013. She has 20+ years of working in the financial services industry. As Vice President and Economic Analyst at Globicus International, Inc., a New York-based company specializing in macroeconomics and financial markets, Winnie oversaw the company’s business operations, managed financial and economic data, and wrote daily reports on macroeconomics and financial markets. Prior to working at Globicus, she was Investment Promotion Officer at the New York Office of the Thailand Board of Investment (BOI) where she wrote monthly reports on the U.S. economic outlook, wrote reports on the outlook of key U.S. industries, and assisted investors on doing business and investment in Thailand. Prior to joining the BOI, she was Adjunct Professor teaching International Political Economy/International Relations at the City College of New York. Prior to her teaching experience at the CCNY, Winnie successfully completed internships at the United Nations. Winnie holds an MA Degree from Long Island University, New York. She also did graduate studies at Columbia University in the City of New York and doctoral requirements at the Graduate Center of the City University of New York. Her areas of specialization are international political economy, macroeconomics, financial markets, political economy, international relations, and business development/business strategy. Her regional specialization includes, but not limited to, Southeast Asia and East Asia. Winnie is bilingual in English and Thai with competency in French. She loves to travel (~30 countries) to better understand each country’s unique economy, fascinating culture and people as well as the global economy as a whole.
Publications by Winnie Tapasanun
USA| Apr 03 2023U.S. Construction Spending Unexpectedly Dips in February; Second M/M Decline in Three Months
- Total Feb. construction -0.1% (+5.2% y/y); Jan. revised up to +0.4% (from a decline) and Dec. revised up to -0.1%.
- Residential private construction falls 0.6% (-5.7% y/y), down for nine consecutive months, led by a 1.8% drop (-21.4% y/y) in single-family building.
- Nonresidential private construction rises 0.7% (19.4% y/y), up for the ninth time in 10 months.
- Public sector construction declines 0.2% (+12.8% y/y), down for the first time since May, led by a 0.2% easing (+12.8% y/y) in nonresidential public construction.
USA| Mar 28 2023U.S. FHFA House Prices Rebound in January
- FHFA HPI +0.2% m/m in Jan. after two straight monthly declines.
- House prices rise m/m in five of nine census divisions.
- House prices in the Pacific region post their first y/y drop since Feb. ’12.
USA| Mar 23 2023Kansas City Fed Manufacturing Index Remains Flat in March
- Composite Index stays at 0 in March, led by a drop in new orders to -13.
- Employment rises to 18, its highest level since May ’22; production rebounds to 3 after being in negative territory for five straight months.
- Price indexes show mixed results, with a rise to a six-month high in prices paid for raw materials but a slight decline in prices received for finished goods.
- Expectations for future activity improve slightly.
USA| Mar 16 2023U.S. Import Prices Dip in February While Export Prices Unexpectedly Rise for the Second Straight Month
- Import prices ease 0.1% in Feb. to the lowest index level since Jan. ’22, down for the seventh time in eight months, led by a 4.9% decline in imported fuel prices.
- Excluding fuels, import prices rise 0.4%, up for the third consecutive month.
- Export prices beat expectations again rising 0.2%, reflecting a 1.0% rebound in ag export prices and the second successive gain in nonag export prices.
- Import and export prices post their first negative y/y rates since late-2020.
- Affordability continues to improve, w/ HAI up for three straight months.
- Median sales price of a home falls for seven consecutive months to a one-year low.
- Mortgage rates decline to a four-month-low 6.35%; mortgage payments fall for the third successive month to a five-month low.
- Median family income at a still-high $90,944 (+6.4% y/y).
- Exports rebound following four consecutive m/m declines; imports rise for the fourth time in five months.
- Real goods trade deficit widens to $101.76 billion, the biggest since October.
- Month-on-month growth in goods exports exceeds growth in goods imports.
- Petroleum imports rise after two straight m/m drops; nonpetroleum imports post their largest m/m gain since March ’22.
- Goods trade deficits w/ China and Japan narrow; deficit w/ EU falls to a four-month low.
USA| Mar 01 2023U.S. Construction Spending Unexpectedly Eases in January; Second Straight M/M Decline
- Total January construction -0.1% (+5.7% y/y); December revised down to -0.7% but November revised up to +1.8%.
- Residential private construction declines 0.6% (-3.9% y/y), down for eight consecutive months, led by a 1.7% drop (-18.4% y/y) in single-family building.
- Nonresidential private construction rebounds 0.9% (19.1% y/y), up for the eighth time in nine months.
- Public sector construction falls 0.6% (+11.1% y/y), down for the second successive month, led by a 0.6% decline (+11.2% y/y) in nonresidential public construction.
USA| Feb 28 2023U.S. Chicago Business Barometer Worsens in February; Below 50 for the Sixth Consecutive Month
- Index declines 0.7 pts. to 43.6 in Feb., the lowest since Nov., w/ production down 10.2 pts. to 38.4 and employment down 4.7 pts. to 37.3.
- New orders contract for nine straight months while production (at a three-month low) and employment (the lowest since June ’20) contract for six successive months.
- Order backlogs up 4.5 pts. to 40.0 and new orders up 3.0 pts. to 43.6, still in contraction territory, but supplier deliveries up 3.6 pts. to an expansion-level 58.5.
- Prices paid index, while down 7.2 pts. in Feb., remains at a very high 65.3.
USA| Feb 27 2023Texas Manufacturing Activity and Expectations Indexes Negative for the 10th Straight Month in February
- General business activity falls back to -13.5 in February from -8.4 in January while future general business activity improves to -2.9 from January's -9.1.
- Company outlook negative for the 12th consecutive month; new orders growth negative for the 10th straight month; and new orders negative for the ninth successive month.
- Production negative for the first time since May '20; employment negative for the first time since June '20.
- Price pressures increase w/ prices received rising to 15.8 and prices paid rising to 25.1, their highest since October.
- January CFNAI at 0.23, the first positive reading following three straight negative readings.
- Three of four components increase, but the Sales, Orders & Inventories component falls for the fourth time in five months.
- CFNAI-MA3 rebounds in Jan. after three consecutive m/m drops.
• Import prices decline 0.2% in Jan. (a one-year low in the index level), down for the seventh straight month, led by a 4.9% drop in imported fuel prices. • Excluding fuels, import prices increase 0.3%, up for the second consecutive month. • Export prices beat expectations rising 0.8%, the first m/m gain in seven months, led by a 0.8% rebound in nonag export prices; however, ag export prices ease 0.2%. • Year-over-year import and export price growth rates decelerate in Jan. vs. Dec.; import prices 0.8% vs. 3.0% and export prices 2.3% vs. 4.3%, their lowest since Dec. ’20.
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