- Euro area: ** ECB & Eurostat BOP - Processing BPM6 Changes **
- Spain: **Flash GDP presented in ESA 2010 methodology. Only growth rates have been updated (Q3)**, Construction Approvals, Housing &
- US: GDP (Q3, Adv) Building Completions (Aug), Monetary Aggregates (Sep), Building Construction Licenses (May), Advance CPI & HICP, Order Book Forecast, Construction Business Survey (Oct)
- US: Selected NIPA Tables (Q3-Adv), Summary Key Source Data (Q3)
- Slovenia: CPI (Oct-Prelim); Kosovo: External Trade (Sep)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Pull Back
The MBA total Mortgage Market Volume Index declined 6.6% last week (-20.2% y/y) following three week's of improvement...
French Household Confidence Is Stuck in Low Gear
France's household opinion survey for October saw its household indicator at a level of 85, the same value as in September...
U.S. Consumer Confidence Jumps With Youthful Exuberance
The Conference Board reported that their reading of consumer confidence surged to 94.5 this month (30.5% y/y)...
U.S. Durable Goods Orders Retreat Further
New orders for durable goods declined 1.3% during September (+3.3% y/y) following a little-revised 18.3% August slump...
U.S. Energy Prices Continue to Tumble
The cost of a gallon of regular gasoline fell to $3.060 per gallon last week (-7.2% y/y) from $3.12 during the prior week...
Italian Business Confidence Despite Bounce in October Remains Quite Weak
Italy's business confidence rose unexpectedly in October...
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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