- Korea: Balance of Payments (Jul)
- France: Registered Unemployed & Job Vacancies (Jul), INSEE Business Survey in Industry and Retail Trade (Aug)
- US: Local and Metro Area Household Employment (Jul)
- Hungary: Unemployment (Jul), Retail Sales (Jun); Lithuania: Retail Trade (Jul); Bosnia: Retail Sales (Jul)
- Brazil: PPI (Jul); Consumer Expectations Index (Aug); Mexico: Trade (Jul)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Increase as Financing Remains Cheap
The MBA total Mortgage Market Volume Index rose 2.8% last week (-19.9% y/y) after the prior week's 1.4% gain...
German Consumer Confidence Finally Slips
Germany's consumer climate rating for September fell to 8.6 from 8.9 in August...
U.S. Consumer Confidence Continues To Improve
The Conference Board reported that their reading of consumer confidence improved 2.3% this month to 92.4 (13.0% y/y)...
U.S. Energy Prices Remain Under Pressure
The price for a gallon of regular gasoline declined two cents last week to $3.45...
U.S. Durable Goods Orders Soar With Aircraft Bookings
New orders for durable goods surged 22.6% last month (33.8% y/y) following a 2.7% June gain...
U.S. FHFA Home Price Index Growth Decelerates Y/Y
The FHFA U.S. House Price Index gained 0.4% during June (5.1% y/y) after a 0.2% May 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.
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