- Finland: Population (Mar)
- Euro area: ACEA Commercial Vehicle Registrations (Mar)
- Philippines: Trade Balance and Imports (Feb); Singapore: Domestic Liquidity Indicator (Mar); Thailand: International Trade (Mar)
- Australia: ANZ-Roy Morgan Consumer Confidence (Apr)
- Japan: Wholesale & Retail Trade (Mar-Prelim), International Trade, Input Output Prices, Auto Production and Exports, Current Survey of Mass Merchandise Specialty Retailers, Lease Statistics (Mar),
- more updates...
Economy in Brief
U.S. Durable Goods Orders Soar With Aircraft Bookings; Orders Weaken Elsewhere
New orders for durable goods jumped 4.0% during March (0.7% y/y) following an unrevised 1.4% February decline...
Germany's Ifo Plows Ahead to Moderate 10-Month High
Germany's Ifo climate gauge is on a 6-month string of increases that has taken that gauge to a 10-month high...
U.S. New Home Sales Unexpectedly Backpedal
New home sales during March declined to 481,000 (+19.4% y/y) from 543,000 during February...
U.S. Initial Unemployment Insurance Claims Suggest Limited Layoffs
The job market remains on a firm footing as evidenced by initial claims for unemployment insurance...
Kansas City Fed's Factory Sector Index Continues Moving Downward
The Kansas City Fed reported that business activity continues to deteriorate...
EMU Upward Momentum Stalls in April
Both the EMU manufacturing and services indices backtracked in April...
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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