- Jan. manufacturers’ new orders -3.6% (-2.0% y/y); Dec. revised down to -0.3% (+1.8% y/y).
- Continued m/m declines in durable goods orders (-6.2%), nondurable goods orders (-1.1%), and shipments (-1.0%).
- Unfilled orders rise 0.2%, the 13th m/m increase in 14 months.
- Inventories dip 0.1% after holding steady for three straight months.
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| Mar 05 2024U.S. Factory Orders Decline More Than Expected in January
USA| Mar 01 2024U.S. Construction Spending Unexpectedly Eases in January
- Construction spending down 0.2% m/m in Jan., the first fall since Dec. ’22; +11.7% y/y, the lowest since Sept. ’23.
- Residential private construction up 0.2% m/m, led by a 0.6% rise in single-family building.
- Nonresidential private construction dips 0.1% m/m following six straight monthly rises.
- Public sector construction down 0.9% m/m, the first drop since Aug. ’22, led by a 1.0% fall in nonresidential public construction.
- FHFA HPI +0.1% (+6.6% y/y) in Dec., the smallest m/m gain in 11 months.
- House prices rise m/m in four of nine census divisions but fall m/m in West North Central, New England, and Pacific.
- House prices gain y/y in all of the nine regions, w/ the highest rate in New England (10.1%).
USA| Feb 26 2024U.S. New Home Sales Rise to a Three-Month High in January
- Jan. sales up 1.5% (1.8% y/y) to 661,000 units SAAR, the second straight m/m gain; Dec. revised down.
- Sales increase m/m except in the South; sales rise y/y except in the Midwest and the South.
- Median sales price rebounds 1.8% (-2.6% y/y) to $420,700.
- Months' supply of new homes for sale unchanged at 8.3 months.
- NFIB Small Business Optimism Index drops 2.0 pts. to 89.9 in Jan., below its long-term avg. of 98.
- Expected real sales plunge 12 pts. to -16%, the lowest level since May ’23.
- Business conditions in the next six months drop two pts. to -38%.
- Quality of labor (21%) and inflation (20%) are top business concerns.
USA| Feb 07 2024U.S. Trade Deficit Widens to $62.20 Billion in December
- Deficit widens as expected in December following November narrowing.
- Services trade surplus in Dec. matches the record high of Jan. ’18.
- Exports rebound following two straight m/m declines, while imports up for the third month in four.
- Real goods trade deficit narrows to $82.76 billion, the smallest since March ’23.
- Goods trade deficits w/ China and EU widen, while trade shortfall w/ Japan narrows to a four-month low.
- Manufacturers’ new orders +0.2% (as expected; +2.3% y/y) in Dec. vs. +2.6% (+3.2% y/y) in Nov.
- Durable goods orders (-0.01%) and shipments (+0.05%) are virtually unchanged, while nondurable goods orders rise 0.4%, the first m/m gain since Sept.
- Unfilled orders grow 1.3%, the 12th m/m increase in 13 months.
- Inventories tick up 0.1% after holding steady in Nov. and Oct.
- Construction spending +0.9% m/m in Dec., higher than expected; +13.9% y/y, highest since June ’22.
- Residential private construction gains 1.4% m/m, led by a 1.7% rebound in home improvement.
- Nonresidential private construction eases 0.2% m/m, the first monthly decline since June ’23.
- Public sector construction rises 1.3% m/m, led by a 1.4% increase in nonresidential public construction.
USA| Jan 30 2024U.S. FHFA House Prices Continue to Rise in November
- FHFA HPI +0.3% m/m in Nov.; +6.6% y/y, the highest y/y rate since Dec.’22.
- House prices rise m/m in six of nine census divisions, but those in New England ease 0.2%.
- House prices gain y/y in all of the nine regions, w/ the highest rate in New England (9.8%).
USA| Jan 26 2024U.S. Pending Home Sales Rebound in December
- PHSI 8.3% m/m (1.3% y/y) in Dec. after two straight m/m declines.
- Month over month, pending home sales rise in three major regions but drop in the Northeast.
- Year over year, sales gain in the three regions, while sales the Northeast fall albeit at a less severe pace.
- Falling mortgage rates and stable home prices will likely boost home-buying activity in 2024.
USA| Jan 25 2024U.S. Goods Trade Deficit Narrows As Expected in December
- $88.46 billion deficit in December, a three-month low, matching expectations.
- Exports gain 2.5% following two straight m/m declines.
- Imports rebound 1.3%, the third m/m increase in four months.
USA| Jan 17 2024U.S. Industrial Production Unexpectedly Increases in December
- IP +0.1% m/m (+1.0% y/y) in Dec.; downward revision for Nov.
- Mfg. IP inches up 0.1% m/m, w/ durable goods down 0.4% and nondurable goods up 0.6%; motor vehicles production rises 1.6%, the second successive m/m gain.
- Mining activity rebounds vs. two consecutive m/m drops, but utilities output falls for the fourth straight month.
- Performance in key categories in market groups is mixed.
- Capacity utilization holds steady at 78.6%.
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