- Australia: PMI (Sep), Retail Trade (Aug), Value of Private Construction (Q2)
- Markit PMI: Manufacturing Survey - Korea, Japan, Taiwan, Vietnam (Sep)
- Korea: Consumer Price Indexes (Sep), Average Monthly Wages(Jul); China: PMI, Guangdong Manufacturing PMI (Sep)
- Japan: TANKAN Summary (Q3)
- Euro area: Flash HICP (Sep) **CPI ex energy and unprocessed food corrected
- more updates...
Economy in Brief
Chicago Purchasing Managers Index Dips; Inventories Surge
Chicago purchasing managers indicated that their September Business Barometer Index fell to 60.5 this month...
U.S. Gasoline Prices Hold Steady; Crude Oil Price Falls
The cost of a gallon of regular gasoline held at $3.35 last week (-2.1% y/y)...
Europe Dodges a Bullet; EMU Unemployment Rate Stays Put in August
The unemployment rate in the European Monetary Union stayed put at 11.5% in August...
U.S. Consumer Spending Posts Firm Rise As Income Improves
Personal consumption expenditures increased 0.5% during August (4.1% y/y) following an unchanged July reading...
NABE Predicts Improving Economic Growth
Expectations for 3.0% real GDP growth in 2015 were little-changed but this year's advance was lessened to 2.1%...
U.S. Pending Home Sales Decline
Pending sales of single-family home sales declined 1.0% last month (-2.2% y/y) following a 3.2% July increase...
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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