- Korea: International Reserves (Jul-prelim)
- US: MSIO (Jun)
- Markit PMI: Manufacturing Survey - Canada (Jul)
- Russia: CPI (Jul), Foreign Cash Purchase and Sale (May); Kazakhstan: CPI (Jul); Bulgaria: Government Debt (Jun); Montenegro: Employment (Jun); Croatia: Retail Trade (Jun)
- Finland: Central Bank Balance Sheet (Jul); Sweden: Central Bank Balance Sheet (Jul)
- more updates...
Economy in Brief
U.S. Factory Sector Orders Ease
New orders in the manufacturing sector increased 1.8% during June (-6.2% y/y) following a 1.1% May decline...
EMU PPI Drops But It Also Decelerates
The PPI headline in June fell by 0.2%...
U.S. ISM Factory Index Unexpectedly Falls To Three-Month Low
The ISM Composite Index fell to 52.7 during July following unrevised gains to 53.5 and 52.8 during the prior two months...
U.S. Light Vehicle Sales Rebound
Total sales of light vehicles increased 3.3% during July to 17.55 million units (SAAR, 6.2% y/y), recovering most of June's decline from the cycle high...
U.S. Personal Spending Rise Moderates Despite Firmer Income Gain
Personal consumption expenditures increased 0.2% during June following 0.7% and 0.3% gains during May and April...
U.S. Construction Spending Trend Is Strong
The value of construction put-in-place ticked 0.1% higher during June (12.3% y/y) following gains of 1.8% and 3.8% during the prior two months...
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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