- US: New York Fed Coincident Indexes (Mar)
- US: New Residential Sales (Mar)
- Canada: Retail Trade (Feb)
- Italy: Balance of Payments (Feb-Final)
- Malta: Central Government Debt (Q4)
- Russia: Buildings Put in Place (Q1); Bosnia & Herzegovina: IP (Mar); Latvia: PPI (Mar)
- Mexico: Retail Trade (Feb)
- UK: BoE Agents' Summary of Business Conditions, Public Sector
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Decline as Interest Rates Tick Higher
The MBA total Mortgage Market Volume Index declined 3.3% last week (-59.2% y/y)...
Italian Trade Trends: A One Month Back-off
Italian exports and imports are both engaged in a longer-term trend of sweeping upward...
U.S. State Unemployment Rates Continue Downward
The overall U.S. unemployment rate declined last month to 6.7% from 10.0% at its late-2009 peak...
U.S. Home Price Index from FHFA Firms Again
The U.S. House Price Index from the Federal Housing and Finance Agency (FHFA) increased 0.6% during February...
U.S. Existing Home Sales Momentum Remains Weak
Sales of existing single-family homes in March slipped 0.2% (-7.5% y/y) to 4.590 million (AR)...
U.S. Gasoline Prices Rise With Seasonal Pressures
The price for a gallon of regular gasoline increased to $3.68 last week, up 4.2% y/y...
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.
|Factory Sector - NAICS Classification (%)||Apr||Mar||Feb||Y/Y||2010||2009||2008|