- Sweden: Labor Force Survey (Sep)
- Spain: Labor Force Survey (Q3)
- Markit PMI: Manufacturing Survey - Japan, China, France, Germany (Flash - Oct)
- Korea: Trade Indexes (Sep); Singapore: CPI Press (Sep)
- New Zealand: CPI (Q3); Australia: NAB Business Survey (Q3)
- US: Consumer Prices (Sep)
- US: Consumer Price Detail (Sep)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications To Refinance Jump
With Lower Interest Rates
The Mortgage Bankers Association reported that their total Mortgage Market Volume Index surged 11.6% last week...
Japanese Trade Trends Still Feature Deficits
Japan's trade position remained in substantial deficit in September...
U.S. Existing Home Sales Improve As Prices Fall Sharply
Sales of existing single-family homes rose 2.4% to 5.170 million...
U.S. Chain Store Sales Fall Hard
The International Council of Shopping Centers and Goldman Sachs reported that chain store sales declined 0.3% last week...
U.S. Gasoline Prices Reach 2011 Low
The cost of a gallon of regular gasoline continued to fall sharply last week...
Japan's All Industry Index Erodes
Japan's economy continues to be weak...
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.
|Factory Sector - NAICS Classification (%)||Apr||Mar||Feb||Y/Y||2010||2009||2008|