- Israel: Foreign Trade Indexes (Q4), Government Finance (Feb); Oman: Insured Employees (Jan); Jordan: Ext Debt Service (Q4)
- China: International Trade (Feb)
- US: Consumer Credit (Jan), Employment Situation (Feb), International Trade (Jan)
- US: Value & Weight of Imports and Exports (Jan)
- US: Imports & Exports by State (Jan)
- Mexico Semimonthly CPI
- more updates...
Economy in Brief
U.S. Consumer Credit Growth Remains Firm
The Federal Reserve Board reported that consumer credit outstanding increased $13.7 billion (5.8% y/y) during January...
U.S. Trade Deficit Holds Steady
The U.S. foreign trade deficit remained at $39.1 billion in January versus December's $39.0 billion...
German IP Picks Up Strongly As Consumer Goods Lag
Germany's industrial production in January rose by 0.8%, continuing a string of advances...
U.S. Financial Accounts Show Larger Total Credit Demand, But Households and Corporations Use Less
The Federal Reserve's financial accounts data for Q4 show total credit market borrowing at a $3.12 trillion annual rate...
U.S. Initial Claims for Jobless Insurance Move Lower
The labor market continues to show erratic improvement...
U.S. Worker Productivity Growth Is Revised Lower
Nonfarm business sector productivity improved 1.8% last quarter (1.3% y/y), revised down from last month's estimate of 3.2% 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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