Global| Nov 04 2013U.S. Factory Sector Orders and Inventories Improve
by:Tom Moeller
|in:Economy in Brief
Summary
Orders in the manufacturing sector jumped 1.7% (3.0% y/y) during September following two months of decline. Expectations were for a 1.6% rise. Durable goods orders increased 3.8% (7.8% y/y), little changed from last week's advance [...]
Orders in the manufacturing sector jumped 1.7% (3.0% y/y) during September following two months of decline. Expectations were for a 1.6% rise. Durable goods orders increased 3.8% (7.8% y/y), little changed from last week's advance report. It was driven by a surge in aircraft orders. Shipments of durable goods inched up 0.4% (4.6% y/y). Nondurable goods shipments (which equal orders) slipped 0.2% (-1.1% y/y), as strong monthly gains in apparel (4.0% y/y) and textile mill (5.6% y/y) shipments were offset by a 1.5% decline (-7.4% y/y) in shipments from petroleum refineries. Basic chemical shipments inched up 0.2% (0.1% y/y)
Inventories in the manufacturing sector increased 0.4% during September. It was the firmest monthly increase since January. The y/y rate of inventory accumulation of 1.7% was down, however, from the 2.4% increase last year and a 10.2% rise during all of 2011. Unfilled orders gained 0.9% (6.5% y/y) and the rate of accumulation has picked up versus 3.7% during 2012.
The factory sector figures are available in Haver's USECON database. The expectation figure is in Haver's MMSAMER database.
| Factory Sector - NAICS Classification (%) | Sep | Aug | Jul | Y/Y | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| New Orders | 1.7 | -0.1 | -2.8 | 3.0 | 2.9 | 12.9 | 16.3 |
| Shipments | 0.1 | 0.2 | 1.1 | 1.5 | 4.0 | 12.1 | 11.0 |
| Inventories | 0.4 | 0.2 | 0.3 | 1.7 | 2.4 | 10.2 | 9.8 |
| Unfilled Orders | 0.9 | 0.1 | 0.2 | 6.5 | 3.7 | 10.0 | 5.4 |
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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