- China: 70-City Property Price Index (Nov)
- Australia: Employment By Industry (Q4), Flow of Funds (Q3); New Zealand: GDP (Q3)
- Japan: Flow of Funds (Q3), Wage Indexes (Oct)
- US: FOMC Projections (Q4)
- US: Consumer Prices (Nov), Summary of Intl Transactions (Q3)
- Belgium: Wages & Salaries, Employment Indexes (Q3)
- Albania: GDP (2013-Prelim); Latvia: Central Gov't Debt, Public
- more updates...
Economy in Brief
U.S. Consumer Prices Post Largest Decline Since 2008; Core Prices Moderate
Inflationary pressures remain well contained...
U.S. Current Account Deficit Deepens Slightly
The U.S. current account deficit deepened in Q3'14 to $100.3 billion from $98.4 billion in Q2...
U.S. Mortgage Loan Applications Decline; Interest Rates Little-Changed
The MBA total Mortgage Market Volume Index fell 3.3% last week (-3.9% y/y)...
EMU's HICP Stays 1.7% Below Targeted Pace
The euro area's HICP inflation is up by 0.3% year over year...
U.S. Housing Starts & Building Permits Ease
Housing starts during November declined 1.6% to 1.028 million (AR, +7.5% y/y) from 1.045 million in October...
U.S. Crude Oil and Gasoline Price Declines Continue
WTI crude oil prices declined 9.0% last week to an average $61.11 per barrel (-37.1% y/y)...
by Tom Moeller June 2, 2011
Manufacturing orders pulled back 1.2% during April after a 3.8% March jump, revised up from 3.0%. Consensus expectations were for a 1.0% decline in total factory orders. For durable goods only, orders fell an unrevised 3.6%. As indicated last week, much of the decline in durables was due to aircraft. Nondurable goods orders, which equal shipments, rose 0.6% (14.6% y/y). Apparel shipments rose 0.9% (5.3% y/y) but chemical shipments fell 0.3% (+1.0% y/y).
Inventory building continued strong at 1.3% (12.3% y/y), although the figure was biased due to higher oil prices. Durable inventories jumped 0.9% (12.7% y/y) but nondurables surged 1.9% due to the 6.2% jump (35.6% y/y) in petroleum. Growth in unfilled orders moderated to 0.3% for the month. The 5.4% y/y gain masks, however, the strength of a 12.6% rise in backlogs less the transportation sector. It was led by a 31.2% y/y gain in backlogs of machinery orders and a 22.3% gain in electrical equipment, appliances & components.
The factory sector figures are available in Haver's USECON database.
Assessing Potential Financial Imbalances in an Era of Accommodative Monetary Policy is yesterday's speech by Fed Vice Chair Janet L. Yellen and it can be found here.
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