- US: Consumer Sentiment (Jul), GDP incl revisions (Q2-Adv), ECI (Q2)
- Consumer Sentiment Detail (Jul-final)
- Serbia: Retail Sales (Jun)
- US: Select NIPA Tables (Q2-Adv)
- Italy: Labor Force Survey (Jun), CPI, HICP (Jul-Prelim), PPI (Jun)
- Brazil: Household Employment Survey, PPI (Jun); Chile: Employment, IP, Housing Starts, Consumer Sales (Jun); Mexico: Construction (May), Flash GDP (Q2)
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Economy in Brief
U.S. Employment Cost Index Shows Steady Gain
The employment cost index for civilian workers increased 0.6% (2.3% y/y) during Q2'16 ...
Chicago Purchasing Managers Index Eases
Chicago purchasing managers reported that their Business Barometer slipped to 55.8 this month ...
Euro Area Unemployment Rates Steady. Down-trend Remains in Place
Levels of unemployment are falling for EU and for EMU but the annualized pace of the drop has been slowing...
U.S. Initial Claims for Unemployment Insurance Rise
Initial unemployment insurance claims increased to 266,000...
Kansas City Federal Reserve Factory Sector Index Declines; Expectations Improve
The Kansas City Fed reported that regional manufacturing sector business activity deteriorated sharply during July...
Euro Area Sentiment Wanes as EMU Firms
The EU region saw its sentiment gauge drop to 104.8 in July from 105.7 in June...
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|