- Japan: **GDP reclassified to SNA 2008**
- US: Quarterly Services Survey (Q3)
- Canada: Building Permits, New Housing Prices (Oct), Housing Starts (Nov)
- Russia: CPI (Nov); Hungary: CPI, Fuel Prices (Nov), Foreign Trade (Oct); Croatia: Foreign Trade (Sep), PPI (Nov); Bulgaria: Industrial Turnover (Oct); Lithuania: CPI (Nov); Latvia: CPI (Nov); Poland: Supervisory Liqudity Measures (Oct); Bosnia: Monetary Agg, Dep & Loans, Fgn Reserves, Bal Sheet (Oct); Ukraine: CPI (Nov), PPI (Nov), Industrial
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Ease as Rates Rise Further
The MBA total Mortgage Market Volume Index declined 0.7% last week (-2.4% y/y)...
U.S. Consumer Credit Usage Slackens
Consumer credit outstanding increased $16.0 during October (6.6% y/y)...
German IP Rises - A Mixed to Weak View from the Rest of Europe
Germany's industrial production has come through another period of relative turbulence...
U.S. Trade Deficit Deepens as Imports Surge
The U.S. trade deficit in goods and services increased to $42.6 billion during October from $36.2 billion in September...
U.S. Energy Product Prices Strengthen
Regular gasoline prices increased to $2.21 per gallon (7.5% y/y) last week...
U.S. Productivity Rose 3.1% in Q3
Growth in nonfarm output per hour during Q3'16 was unrevised at 3.1% (SAAR, 0.0% 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|