- 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 24, 2017
New orders for durable goods rose 1.7% (5.0% y/y) during February following a 2.3% January gain, initially reported as 1.8%. A 1.2% increase in orders had been expected in the Action Economics Forecast Survey.
The headline rise in orders again reflected strength in the transportation sector where a 4.3% increase was driven by a 47.6% jump in orders for nondefense aircraft & parts. Bookings for defense aircraft declined 12.8% and orders for motor vehicles & parts eased 0.8%. Excluding the transportation sector altogether, orders increased 0.4% (4.6% y/y) and have been rising since June.
Nondefense capital goods orders increased 4.1%. Excluding the rise in aircraft, orders dipped 0.1%.
Two areas of strength in orders last month were the metals sector where primary metals orders jumped 2.1% (6.0% y/y), and electrical equipment orders rose 2.2% (2.9% y/y). In other areas, orders were soft. Fabricated metals orders eased 0.4% (+5.7% y/y), but machinery orders improved 0.1% (5.1% y/y). Orders for computers & electronic products slipped 0.2% (+5.3% y/y) as computers & related product orders rose 1.6% (-3.1% y/y). Communications & equipment orders fell 3.8% (+5.5% y/y).
Shipments of durable goods improved 0.3% (2.7% y/y) following a 0.1% slip. Excluding the transportation sector, shipments gained 0.6% (4.5% y/y). Unfilled durable goods orders remained unchanged (-1.4% y/y) while excluding transportation, order backlogs gained 0.2% (2.4% y/y). Inventories of durable goods increased 0.2% (-0.1% y/y) while less transportation inventories increased 0.3% (0.8% y/y)
The durable goods figures are available in Haver's USECON database. The Action Economics consensus forecast figure is in the AS1REPNA database.
|Durable Goods NAICS Classification||Feb||Jan||Dec||Feb Y/Y||2016||2015||2014|
|New Orders (SA, %)||1.7||2.3||-0.9||5.0||-0.4||-2.9||4.8|
|Total Excluding Transportation||0.4||0.2||0.9||4.6||-0.4||-2.3||3.8|
|Nondefense Capital Goods||4.1||5.3||3.5||6.7||-5.2||-9.6||1.2|