- Belgium: CPI (Jun); Netherlands: Business Sentiment Survey (Jun)
- Euro area: EC Business & Consumer Surveys (Jun)
- Spain: Advance HICP & CPI (Jun), Mortgage Market (Apr), Nonfinancial Institutional Sector Accounts (Q1)
- Sweden: Money Supply (May); Denmark: Retail Tendency Survey (Jun); Norway: Retail Trade, Household Consumption (May)
- Algeria: CPI (May); Mauritius: Wage Rate Index (Q1); Qatar: PPI (Apr); Botswana: Foreign Trade (Apr) Palestine: PPI (May)
- more updates...
Economy in Brief
U.S. GDP Growth and Corporate Profits Revised Higher
Economic growth during the first quarter was revised up slightly...
U.S. Petroleum Prices Decline; Natural Gas Jumps Higher
Regular gasoline prices declined to $2.33 per gallon last week (-16.9% y/y)...
Italian Consumer Confidence Makes Clear U-Turn
Italy's drop in consumer confidence is not about Brexit; it's about Italy...
Euro Area: Pre-Brexit Snap Shot of Financial Conditions
Brexit came as a shock and now we must monitor all relevant trends to see what will be affected in the post-Brexit period...
Dallas Fed Factory Sector Activity Index Remains Depressed
The Federal Reserve Bank of Dallas reported that its general activity index of factory sector activity remained negative during June...
U.S. Durable Goods Orders Decline Paced by Military Aircraft
New orders for durable goods declined 2.2% during May (+3.2% y/y) following a 3.3% April 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.
|Factory Sector - NAICS Classification (%)||Apr||Mar||Feb||Y/Y||2010||2009||2008|