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Economy in Brief
UK Consumer Sentiment Hits Lowest Reading since 1996
(when the GFK survey began; also lowest reading 'ever')
Of these 13 readings eight of them declined on the month in May three of them improved and two of them were unchanged...
U.S. Existing Home Sales Continue to Fall in April as Houses Become Less Affordable
The combination of soaring home prices across the nation and rising interest rates is making homes less affordable...
U.S. Index of Leading Indicators Fell in April
Five of the index's components fell in April, one was unchanged and four increased...
U.S. Unemployment Claims Rose in the Latest Week
The state insured rates of unemployment in regular programs vary widely...
CBI Gauge in the UK Continues to Be Upbeat
The global economy has a lot of challenges...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller June 4, 2012
During April, orders in the manufacturing sector fell 0.6% (+3.5% y/y) versus expectations for a 0.3% rise. The drop added to a 2.1% decline during March, revised from 1.5%. Last month's figure reflected a 1.1% shortfall in nondurables orders (which equal shipments) due to a 4.4% drop in petroleum. Less oil, April nondurables orders ticked up 0.1% (1.5% y/y). Apparel orders rose 0.8% (4.6% y/y), paper product bookings increased 0.4% (-2.0% y/y) but basic chemicals orders fell 0.7% (+0.8% y/y). Durable goods orders were essentially unchanged (+6.7% y/y), little-changed from the advance report of a 0.2% decline.
Inventories in the factory sector were unchanged (4.8% y/y), a 0.4% rise was expected, as durable goods inventories rose 0.3% (6.8% y/y). Nondurables inventories fell 0.5% (+2.0% y/y) reflecting a 1.7% (+1.3% y/y) decline in oil. Inventories of apparel again were strong, up 0.4% (14.9% y/y). Factory sector backlogs slipped 0.1% (+9.3% y/y).
The factory sector figures are available in Haver's USECON database. The expectation figure is in AS1REPNA.
Monetary Policy, Economics and the Recovery from Sandra Pianalto, President and CEO, Federal Reserve Bank of Cleveland can be found here.
Factory Sector - NAICS Classification (%) | Apr | Mar | Feb | Y/Y | 2011 | 2010 | 2009 |
---|---|---|---|---|---|---|---|
New Orders | -0.6 | -2.1 | 1.5 | 3.5 | 12.2 | 12.9 | -21.7 |
Shipments | -0.3 | 0.1 | 0.4 | 4.4 | 11.3 | 8.6 | -18.5 |
Inventories | 0.0 | 0.1 | 0.3 | 4.8 | 9.4 | 8.8 | -6.8 |
Unfilled Orders | -0.1 | 0.0 | 1.1 | 9.3 | 9.7 | 3.9 | -15.2 |