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Economy in Brief
German PPI Rises at Nine-Month High Pace
The German PPI gained 0.2% in June on the heels of a 0.6% rise in May...
U.S. Leading Economic Indicators Improve
The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (5.8% y/y) during June...
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
U.S. Initial Unemployment Insurance Claims Hit Lowest Since 1969
Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
by Tom Moeller March 31, 2005
Factory inventories added 0.5% in February to the prior month's 1.5% spurt. Less petroleum inventories which fell 0.4% (16.7% y/y) the total increased 0.6% (8.3% y/y).
Factory shipments fell 0.9% in part reflecting a 2.9% drop in transportation equipment (-5.1% y/y). Less transportation shipments fell 0.6% (+13.3% y/y).
Orders to the factory sector rose 0.2%. The advance report of a 0.3% rise in durable goods was revised to 0.5% (+7.8% y/y). Nondefense capital goods orders less aircraft fell 1.7% (14.2% y/y).
Unfilled orders jumped 0.6%. The ratio of unfilled orders to shipments for durables recovered most of the prior two months' declines.
| Factory Survey (NAICS) | Feb | Jan | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Inventories | 0.5% | 1.5% | 8.6% | 7.5% | -1.3% | -1.8% |
| New Orders | 0.2% | -0.0% | 10.0% | 10.9% | 3.7% | -1.9% |
| Shipments | -0.9% | 1.1% | 10.4% | 10.5% | 2.6% | -2.0% |
| Unfilled Orders | 0.6% | -0.0% | 8.8% | 9.1% | 4.2% | -6.1% |
