- Australia: RBA Financial Aggregates (Oct); New Zealand: Building Consents Issued, Monetary and Credit Aggregates, Household Deposits (Oct), ANZ Business Outlook Survey (Nov)
- Japan: CPI, Labor Force Survey, IP, Retail and Wholesale Trade, Index of Living Expenditure, Employment Referral Statistics(Oct)
- UK: GFK Consumer Confidence (Nov)
- Korea: Economic Sentiment and Business Survey Index (Nov), Equipment Investment Index, Wholesale and Retail Trade, IP (Oct)
- more updates...
Economy in Brief
U.S. New Home Sales Improve; Prices Jump
New home sales during October edged up 0.7% m/m to 458,000 (1.8% y/y) following a 0.4% rise to 455,000 in September...
U.S. Durable Goods Orders Boosted by Defense Aircraft
New orders for durable goods rose 0.4% during October (+5.5% y/y) following a 0.9% fall in September...
U.S. Initial Claims for Jobless Insurance Jump; Unemployment Rate Falls to New Low
Initial claims for jobless insurance during the week ended November 22 jumped to 313,000 from 292,000 during the prior period...
U.S. Pending Home Sales Decline
Pending sales of single-family homes fell 1.1% last month (+2.2% y/y) following a little-revised 0.6% gain during September...
Italian Consumer Confidence in an Era of Radioactivity
Italy's consumer confidence indicator from ISAE fell in November to reach a nine-month low...
U.S. GDP Growth in Q3 Is Revised Higher; Profits Growth Slows
GDP grew 3.9% last quarter (2.4% y/y), revised up from the advance estimate of 3.5% growth...
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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