Recent Updates
- Israel: Average Housing Prices (Q2)
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- more updates...
Economy in Brief
U.S. Empire State Manufacturing Index Plummets in August; Lowest Since May '20
The Empire State Manufacturing Index of General Business Conditions plunged to -31.3 in August...
U.S. Import and Export Prices Fall in July; Deepest Since April 2020
Import prices fell 1.4% m/m (8.8% y/y) in July...
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
U.S. Producer Prices Fall During July; Core Increase Weakens
The Producer Price Index for Final Demand fell 0.5% during July...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller February 5, 2007
Factory inventories inched up just 0.1% during December after a slowed 0.2% November gain. The 0.6% increase in factory inventories during 4Q06 was the slowest since 3Q05.
Primary metals inventories actually fell during the last two months (+17.9% y/y). Automobile inventories also plummeted 11.8% (+6.3% y/y) and inventories of furniture fell 1.5% (+4.3% y/y). These declines were offset by higher electrical equipment inventories (11.3% y/y), higher inventories of computers (+8.4% y/y) and higher machinery inventories (8.7% y/y).
Total factory orders rose a firm 2.4% following a downwardly revised 1.2% November increase. Durable goods orders surged 2.9% which was little revised from the advance report of a 3.1% pop. Factory orders less transportation surged 2.2% (2.4% y/y) though nondurable are even y/y reflecting lower oil prices but also a decline in textiles.
Factory shipments surged 1.4% reflecting a 1.0% jump in durables which was broad based. Factory shipments less transportation jumped 1.0% (1.0% y/y).
Unfilled orders surged 2.1% due to the another jump in civilian aircraft (39.5% y/y). Less the transportation sector altogether backlogs rose 1.3% (13.8% y/y).
Factory Survey (NAICS) | December | November | Y/Y | 2006 | 2005 | 2004 |
---|---|---|---|---|---|---|
Inventories | 0.1% | 0.2% | 6.7% | 6.7% | 4.0% | 6.9% |
New Orders | 2.4% | 1.2% | 1.3% | 5.4% | 8.5% | 7.5% |
Shipments | 1.4% | 0.2% | 0.4% | 4.7% | 7.1% | 6.8% |
Unfilled Orders | 2.1% | 1.8% | 20.4% | 20.4% | 16.3% | 4.5% |