- Iceland: GDP **Change to ESA 2010** (Q2), Retail Trade, Turnover According to VAT Returns (Jun)
- Belgium: Consumer Confidence Survey (Sep)
- US: Household Employment for States and Regions (Aug)
- US: Regional Payroll Employment (Aug)
- Canada: Wholesale Trade (Jul), CPI (Aug)
- Korea: PPI (Aug); Pakistan: BPM6 BOP, Trade by Commodity, Automobile Production & Sales (Aug); Hong Kong: Chain Volume Measure of GDP (Q2); Mongolia: CPI, Depository Corporations
- more updates...
Economy in Brief
Japan's Sector Indices Lose Momentum Again
Japan's economy is losing momentum again...
U.S. Financial Accounts Show Overall Pickup in Credit Market Borrowing
The Federal Reserve's financial accounts data for Q2 show total credit market borrowing at $2.32 trillion annual rate...
U.S. Housing Starts and Building Permits Decline
Housing starts during August slumped 14.4% to 956,000 AR (+8.0% y/y) following a 22.9% July jump to 1,117,000...
Philadelphia Fed Business Conditions Index Slips but Remains Firm
The Philadelphia Fed reported that its General Business Conditions Index for September edged down to 22.5 from 28.0 in August...
U.S. Initial Unemployment Insurance Fall to July Low
Initial claims for jobless insurance fell to 280,000 during the week ended September 13 from 316,000 in the prior week...
U.K. Retail Sales Rebound
U.K. nominal retail sales growth bounced back in August, rising by 0.2% after a 0.3% July decline...
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|