Recent Updates
- Canada: Wholesale Trade, MSIO (Nov)
- Canada Regional: Wholesale Trade, MSIO by Province (Nov)
- US: Philadelphia Fed Nonmfg Business Outlook Survey (Jan)
- Hungary: Wages (Nov), Fostered Workers, Social Security Balance (Dec), Maturity Profile of Central Government Debt (Q4)
- Ireland: PPI, WPI (Dec), Personal Bankruptcy (Q4)
- Mexico: Employment (Dec)
- Budget Implementation (Nov)
- Iraq: Internal Public Debt
- more updates...
Economy in Brief
Delay in Release
of Data for Construction, MSIO, Intl Trade, Wholesale Trade, Monthly Treasury, Retail Sales, Business Sales & Inventories, and Housing Starts Due to Lapse in Federal Government Funding.
U.S. Industrial Production Celebrates 100 Years With An Increase
In the 100th anniversary of it release, industrial production rose a greater-than-expected 0.3% (3.9% year-on-year) during December...
U.K. Retail Sales Begin to Lose Momentum
U.K. retail sales fell by a sharp 1% in December...
Philadelphia Fed Manufacturing Index Rebounds; Pricing Pressure Eases
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index increased to 17.0 during January...
U.S. Initial Unemployment Insurance Claims Slip
Initial claims for jobless insurance eased to 213,000 (-2.6% y/y) during the week ended January 12...
by Tom Moeller March 4, 2005
Factory inventories jumped 1.3% in January led higher by broad based industry gains. Less petroleum which jumped 8.6% (18.3% y/y), inventories increased 1.0% (8.1% y/y).
Shipments out of the factory sector surged 1.4% but were notable for primary metals (32.0% y/y), machinery (20.6% y/y), computers & electronics (11.1% y/y) and chemicals (11.7% y/y).
Orders to the factory sector rose 0.2%. The advance report of a 0.9% decline in durable goods was revised deeper to 1.3% (+11.4% y/y). Nondefense capital goods orders less aircraft was unrevised at +2.9% (17.1% y/y).
Unfilled orders fell 0.2% for the first decline in a year. Fewer supply bottlenecks were indicated as the ratio of unfilled orders to shipments for durables fell sharply for the second month.
| Factory Survey (NAICS) | Jan | Dec | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Inventories | 1.3% | 0.1% | 8.5% | 7.5% | -1.3% | -1.8% |
| New Orders | 0.2% | 0.5% | 11.3% | 10.9% | 3.7% | -1.9% |
| Shipments | 1.4% | 1.2% | 11.7% | 10.5% | 2.6% | -2.0% |
| Unfilled Orders | -0.2% | 0.5% | 8.9% | 9.1% | 4.2% | -6.1% |
