- Composite Index improves to -1 in May, reflecting rises in production to -2, new orders to -14, and employment to a positive 7.
- Price indexes fall, w/ prices paid for raw materials having cooled significantly (lowest since July ’20) and prices received for finished goods having eased somewhat.
- Expectations for future activity remain flat in positive territory.
Introducing
Winnie Tapasanun
in:Our Authors
Winnie Tapasanun has been working for Haver Analytics since 2013. She has 20+ years of working in the financial services industry. As Vice President and Economic Analyst at Globicus International, Inc., a New York-based company specializing in macroeconomics and financial markets, Winnie oversaw the company’s business operations, managed financial and economic data, and wrote daily reports on macroeconomics and financial markets. Prior to working at Globicus, she was Investment Promotion Officer at the New York Office of the Thailand Board of Investment (BOI) where she wrote monthly reports on the U.S. economic outlook, wrote reports on the outlook of key U.S. industries, and assisted investors on doing business and investment in Thailand. Prior to joining the BOI, she was Adjunct Professor teaching International Political Economy/International Relations at the City College of New York. Prior to her teaching experience at the CCNY, Winnie successfully completed internships at the United Nations. Winnie holds an MA Degree from Long Island University, New York. She also did graduate studies at Columbia University in the City of New York and doctoral requirements at the Graduate Center of the City University of New York. Her areas of specialization are international political economy, macroeconomics, financial markets, political economy, international relations, and business development/business strategy. Her regional specialization includes, but not limited to, Southeast Asia and East Asia. Winnie is bilingual in English and Thai with competency in French. She loves to travel (~30 countries) to better understand each country’s unique economy, fascinating culture and people as well as the global economy as a whole.
Publications by Winnie Tapasanun
USA| May 25 2023Kansas City Fed Manufacturing Index Rebounds in May
USA| May 03 2023U.S. ISM Services PMI Rebounds in April
- 51.9 in Apr. vs. 51.2 in Mar., showing expansions from June ’20 except Dec. ’22.
- Sub-indexes are mixed: new orders (56.1) and supplier deliveries (48.6) rise while business activity (52.0) and employment (50.8) decline.
- Prices index ticks up to 59.6, having been above the 50-dividing line since June ’17.
- Composite Index falls to -10 in April, reflecting drops in production to -21, new orders to -21, and employment to -1.
- Price indexes increase, w/ both prices paid for raw materials and prices received for finished goods at their seven-month highs.
- Expectations for future activity remain in positive territory.
- March sales +9.6% m/m to 683,000 units SAAR; Feb. downwardly revised to a drop from a rise.
- Month-on-month sales gain in three of four major regions with only decline in the South.
- Median sales price, up for the third time in four months, rises to a three-month-high $449,800.
- LEI down for the 12th straight month and deeper than expected.
- Coincident Economic Index up for the fourth consecutive month.
- Lagging Economic Index down for the first time since Aug. ’21.
- IP +0.4% in March; Feb. and Jan. revised up.
- Mfg. IP falls 0.5% (upwardly revised for Feb. and Jan.) w/ durable goods down 0.9% and nondurable goods down 0.1%.
- Utilities output rebounds 8.4%, the largest m/m gain since Jan. ’22, while mining activity falls for the fourth time in five months.
- Consumer goods output gains for the second consecutive month, but business equipment posts the fourth m/m drop in five months.
- Capacity utilization increases 0.2%-pt. to a four-month-high 79.8%; mfg. capacity utilization falls 0.5%-pt. to a three-month-low 78.1%.
- February new orders (-0.7%), durable goods orders (-1.0%), nondurable goods orders (-0.4%), and shipments (-0.5%) all drop m/m for the third time in four months.
- Unfilled orders dip 0.1%, the first m/m decline since August ’20.
- Inventories ease 0.1% for the second consecutive month.
USA| Apr 03 2023U.S. Construction Spending Unexpectedly Dips in February; Second M/M Decline in Three Months
- Total Feb. construction -0.1% (+5.2% y/y); Jan. revised up to +0.4% (from a decline) and Dec. revised up to -0.1%.
- Residential private construction falls 0.6% (-5.7% y/y), down for nine consecutive months, led by a 1.8% drop (-21.4% y/y) in single-family building.
- Nonresidential private construction rises 0.7% (19.4% y/y), up for the ninth time in 10 months.
- Public sector construction declines 0.2% (+12.8% y/y), down for the first time since May, led by a 0.2% easing (+12.8% y/y) in nonresidential public construction.
USA| Mar 28 2023U.S. FHFA House Prices Rebound in January
- FHFA HPI +0.2% m/m in Jan. after two straight monthly declines.
- House prices rise m/m in five of nine census divisions.
- House prices in the Pacific region post their first y/y drop since Feb. ’12.
USA| Mar 23 2023Kansas City Fed Manufacturing Index Remains Flat in March
- Composite Index stays at 0 in March, led by a drop in new orders to -13.
- Employment rises to 18, its highest level since May ’22; production rebounds to 3 after being in negative territory for five straight months.
- Price indexes show mixed results, with a rise to a six-month high in prices paid for raw materials but a slight decline in prices received for finished goods.
- Expectations for future activity improve slightly.
USA| Mar 16 2023U.S. Import Prices Dip in February While Export Prices Unexpectedly Rise for the Second Straight Month
- Import prices ease 0.1% in Feb. to the lowest index level since Jan. ’22, down for the seventh time in eight months, led by a 4.9% decline in imported fuel prices.
- Excluding fuels, import prices rise 0.4%, up for the third consecutive month.
- Export prices beat expectations again rising 0.2%, reflecting a 1.0% rebound in ag export prices and the second successive gain in nonag export prices.
- Import and export prices post their first negative y/y rates since late-2020.
- Affordability continues to improve, w/ HAI up for three straight months.
- Median sales price of a home falls for seven consecutive months to a one-year low.
- Mortgage rates decline to a four-month-low 6.35%; mortgage payments fall for the third successive month to a five-month low.
- Median family income at a still-high $90,944 (+6.4% y/y).
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