Global| May 02 2012U.S. Factory Orders Decline With Fewer Aircraft Bookings
by:Tom Moeller
|in:Economy in Brief
Summary
Orders in the manufacturing sector dropped an expected 1.5% (+3.3% y/y) during March and reversed a little-revised 1.1% February jump. The decline reflected a 4.0% slump in orders for durable goods. That was little-changed from the [...]
Orders in the manufacturing sector dropped an expected 1.5% (+3.3% y/y) during March and reversed a little-revised 1.1% February jump. The decline reflected a 4.0% slump in orders for durable goods. That was little-changed from the advance report of a 4.2% drop due to aircraft reported last week. In the nondurable goods sector, where orders equal shipments, orders rose for the second month by 0.5% (3.6% y/y). Petroleum shipments slipped 0.1% (+6.0% y/y) as prices stabilized and basic chemicals were stable (1.9% y/y). Elsewhere, apparel shipments declined 1.3% (+10.5% y/y) but paper product shipments rose 0.6% (-2.8% y/y). Shipments of food products rose 1.2% (2.6% y/y).
Inventories in the factory sector increased another 0.3% (6.6% y/y) during March as durable goods inventories rose 0.5% (8.0% y/y). Nondurables inventories were unchanged (4.5% y/y) reflecting a 1.1% (+8.7% y/y) decline in oil. Elsewhere inventories rose, notably plastics (6.7% y/y).
The factory sector figures are available in Haver's USECON database. The expectation figure is in AS1REPNA.
| Factory Sector - NAICS Classification (%) | Mar | Feb | Jan | Y/Y | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Orders | -1.5 | 1.1 | -1.1 | 3.3 | 12.2 | 12.9 | -21.7 |
| Shipments | 0.7 | 0.1 | 0.6 | 4.7 | 11.3 | 8.6 | -18.5 |
| Inventories | 0.3 | 0.3 | 0.6 | 6.6 | 9.5 | 8.7 | -6.8 |
| Unfilled Orders | 0.1 | 1.2 | 0.7 | 9.7 | 9.7 | 3.9 | -15.2 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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