- US: Kansas City Fed Mfg Survey (Jul)
- US: New Residential Sales (Jun)
- Markit PMI: Flash Manufacturing Survey -US, Japan, China, France, Germany, Euro Zone (Jul)
- Vietnam: CPI (Jul); Korea: GDP (Q2), Trade Indexes (Jun); Hong Kong: Trade (Jun); Thailand: Business Export Expectations (Jun)
- Jordan: Public Finance (May); Israel: Housing Loans (Jun); Ghana: PPI (Jun); Palestine: PPI (Jun); Qatar: Foreign Trade (Jun); Turkey: Toursim (Jun)
- more updates...
Economy in Brief
Kansas City Fed Factory Sector Activity and Pricing Power Indexes Recover M/M
The Kansas City Fed reported that its July Composite index of 10th District factory sector activity improved to 9...
U.S. Initial Claims for Unemployment Insurance Fall to Eight-Year Low
Improvement in the labor market may have picked up steam this month...
U.S. Mortgage Loan Applications Continue In Sideways Trend
The MBA total Mortgage Market Volume Index improved 2.4% last week (-31.9% y/y)...
French Business Climate Struggles
The French business climate indicator from the INSEE survey fell in July...
U.S. Consumer Prices Moderate; Services Price Pressures Ease
Consumer prices gained 0.3% (2.1% y/y) during June following a strong 0.4% May rise...
U.S. Existing Home Sales Increase for Third Straight Month and Raise Prices
Sales of existing single-family homes increased 2.6% (-2.3% y/y) to 5.040 million (AR) during June...
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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