- 35.4 in May vs. 37.9 in April.
- All the five subindexes remain below 50.
- New Orders (28.7, lowest since May ’20), Employment (37.2, lowest since June ’20), Production (43.6, contracting for the fifth straight month), Order Backlogs (26.3, a four-year low), and Supplier Deliveries (48.1 vs. 47.3).
- Prices paid index dips 0.9 pt. to 68.4, remaining at an elevated level.
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| May 30 2024U.S. Goods Trade Deficit Widens to $99.41 Billion in April
- Largest goods trade deficit since May ’22 and larger than expected.
- Exports rebound 0.5% in April, the fourth m/m gain in five months.
- Imports rise 3.1% vs. a 1.7% March drop.
USA| May 28 2024U.S. FHFA House Prices Edge Up in March
- FHFA HPI +0.1% (+6.7% y/y) in Mar. vs. +1.2% (+7.1% y/y) in Feb.
- House prices rise m/m in four of nine census divisions, w/ the highest rate in Middle Atlantic (1.5%).
- House prices gain y/y in all of the nine regions, w/ the highest rate in Middle Atlantic (11.0%).
- May Composite Index at -2 reflects negative readings in new orders (-13) and production (-1), while employment (9) expands to the highest level since Mar. ’23.
- Price indexes increase, w/ both prices paid (19) and prices received (7) up to a four-month high.
- Expectations for future activity grow modestly, w/ prices paid (40) continuing to rise at a faster pace than prices received (26).
- +0.02% (+3.0% y/y) in Apr.; downward revisions for Mar. and Feb.
- Ex-auto sales up for the fourth month in five.
- Auto sales down for the third month in four.
- Gasoline sales post the largest of three straight m/m increases.
- Nonstore retail sales fall for the third time in four months.
USA| May 14 2024U.S. NFIB Small Business Optimism Index Edges Up in April While Inflation Remains the Number One Problem
- Apr. NFIB Small Business Optimism Index inches up 1.2 pts. to 89.7, the first m/m gain since December.
- Expected real sales increase to -12% after falling to -18%, still indicating pessimism.
- Business conditions in the next six months decline to -37%, down for the third month in four.
- Inflation (22%) is top business problem, followed by Quality of Labor (19%).
- 49.2 in April vs. 50.3 in March, lower than expected.
- Production expands for the third month in four.
- Employment contracts for the seventh straight month.
- New orders contract to a four-month low after March’s expansion.
- Amid ongoing inflationary pressures, prices index rises to 60.9, the highest since June ’22.
USA| Apr 30 2024U.S. FHFA House Prices Rebound M/M in February, w/ the Highest Y/Y Rate Since Nov. ’22
- FHFA HPI +1.2% (+7.0% y/y) in Feb. vs. -0.1% (+6.5% y/y) in Jan.
- House prices rise m/m in nine census divisions, w/ the highest rate in New England (3.0%).
- House prices gain y/y in all of the nine regions, w/ the highest rate in Middle Atlantic (10.8%).
USA| Apr 25 2024U.S. Goods Trade Deficit Widens to $91.83 Billion in March
- Largest goods trade deficit since April ’23 and larger than expected.
- Exports drop 3.5% following three straight m/m rises.
- Imports decline 1.7%, the first m/m decrease since November.
- General Business Conditions Index -14.3 in Apr. vs. -20.9 in Mar., showing contraction for the fifth straight month.
- Negative numbers for new orders (-16.2), shipments (-14.4), unfilled orders (-10.1), and employment (-5.1), but positive reading for inventories (3.4), the first positive since Nov. ’23.
- Inflation pressures increase, w/ prices paid rising to 33.7, the highest since May ’23.
- Optimism on the six-month outlook remains positive but subdued, w/ Future Business Conditions Index down to a four-month-low 16.7.
- February manufacturers’ new orders +1.4% (1.0% y/y), larger than expected.
- Rebounds in durable goods orders (1.3%), nondurable goods orders (1.6%), and shipments (1.4%).
- Unfilled orders hold steady for the second consecutive month.
- Inventories rise 0.3%, the first m/m increase since September.
USA| Apr 01 2024U.S. Construction Spending Unexpectedly Declines for the Second Straight Month in February
- Construction spending -0.3% m/m in Feb.; +10.7% y/y, the lowest since Sept. ’23.
- Residential private construction rises 0.7% m/m, led by a 1.4% gain in single-family building.
- Nonresidential private construction drops 0.9% m/m, down for the second consecutive month.
- Public sector construction falls 1.2% m/m, w/ both residential & nonresidential public construction down 1.2% m/m.
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