Global| Sep 02 2015U.S. Factory Sector Orders Improve
by:Tom Moeller
|in:Economy in Brief
Summary
New orders in the manufacturing sector improved 0.4% during July (-15.2% y/y) following a 2.2% June jump. A 0.7% rise was expected in the Action Economics Forecast Survey. Durable goods orders rose 2.2% (-20.2% y/y) following 4.1% [...]
New orders in the manufacturing sector improved 0.4% during July (-15.2% y/y) following a 2.2% June jump. A 0.7% rise was expected in the Action Economics Forecast Survey. Durable goods orders rose 2.2% (-20.2% y/y) following 4.1% increase. These figures were little-changed from the advance release. Overall orders excluding the transportation sector altogether eased 0.6% (-7.4% y/y) after a 0.6% increase. Nondurable goods orders (which equal shipments) fell 1.3% (-10.0% y/y) following a 0.4% rise. The value of petroleum refinery shipments declined 7.8% (-32.1% y/y) after a 0.8% increase. Food products shipments improved 0.2% (-2.4% y/y) following six straight months of decline. Apparel shipments fell 0.4% (-1.8% y/y) and paper product shipments gained 0.5% (-2.7% y/y). Basic chemical shipments also improved 0.5% (-2.5% y/y). Shipments of durable goods increased 1.0% (-0.1% y/y) after a 0.9% rise.
Unfilled orders improved 0.2% (-0.6% y/y), following little change during June. Backlogs excluding the transportation sector eased 0.1% (-0.1% y/y). Unfilled orders of nondefense aircraft rose 0.4% (0.7% y/y).
Inventories in the factory sector slipped 0.1% (-0.6% y/y) following a 0.3% rise. Durable goods inventories eased 0.1% (+3.1% y/y). Computes & electronic product inventories gained 0.2% (4.7% y/y). Nondurable goods inventories moved 0.1% lower (-6.0% y/y) as petroleum refinery inventories declined 4.2% (-31.7% y/y). Food product inventories increased 1.3% (-1.0% y/y). Apparel inventories jumped 1.2% (12.4% y/y). Paper product inventories gained 0.1% (2.5% y/y). Basic chemical inventories improved 0.6% (-1.4% y/y).
The factory sector figures are available in Haver's USECON database. The expectations figure from the Action Economics Forecast Survey is available in AS1REPNA.
| Factory Sector- NAICS Classification (%) | Jul | Jun | May | Y/Y | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| New Orders | 0.4 | 2.2 | -1.1 | -15.2 | 3.4 | 2.2 | 4.4 |
| Shipments | -0.2 | 0.6 | -0.2 | -5.5 | 2.5 | 2.1 | 4.4 |
| Unfilled Orders | 0.2 | 0.0 | -0.5 | -0.6 | 11.4 | 6.4 | 7.5 |
| Inventories | -0.1 | 0.3 | 0.1 | -0.6 | 2.4 | 1.7 | 3.8 |
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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