- US: BEA Auto Sales (Sep)
- Qatar: BOP (Q2); Turkey: CPI, PPI (Sep); Morocco: BOP (Q2); Tunisia: CPI (Sep); Uganda: Private Sector Credit (Aug)
- Markit Services PMI: Japan, Ireland, Brazil, US, JP Morgan Global, Emerging and Developed Markets (Sep); Composite PMI: Japan, Singapore, Ireland, Brazil, US, JP Morgan Global, Emerging and Developed Markets (Sep)
- World: Commodity Prices (Sep)
- US: ISM Nonmfg, FRB Labor Mkt Conditions Index (Sep)
- more updates...
Economy in Brief
Global MFG Takes Another Step Back in September
The Markit (and for the US, ISM) MFG PMI's largely weakened globally in September...
U.S. Payroll Gain Disappoints Again; Earnings Stabilize Along With Jobless Rate
Nonfarm payrolls grew 142,000 following downwardly revised increases of 136,000 and 223,000 during the prior two months...
EMU PPI Collapses as HICP Turns to Show Deflation
The August PPI in the EMU fell by 0.9% after falling by 0.3% in July...
U.S. Light Vehicle Sales Continue To Improve
Strength in employment and income combined with minimal pricing power continues to generate buying at new car...
U.S. ISM Factory Index Weakens to Two-Year Low; Prices Decline
Activity in the manufacturing sector is continuing to lose steam...
U.S. Construction Spending Improvement Slows Versus A Strong Spring
The value of construction put-in-place increased 0.7% during August following a downwardly revised 0.4% rise in July...
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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