Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods inched up 0.1 percent in July, following decreases of 0.6 percent in June and 1.8 percent in May. Importantly, new orders of nondefense capital goods excluding aircraft plummeted 7.2 percent in July (which is actually an upward revision of 0.8 percentage point from the advance report on durable goods), pushing the 12-month growth rate down from 19.5 percent to 11.6 percent. Shipments of factory goods jumped up 1.1 percent, though after a somewhat dour second quarter the series has fallen at an annualized percent change of 4.7 percent over the past three months. Manufacturers added 1.0 percent to inventories in July, pulling the 12-month growth rate up to 2.5 percent (the strongest growth rate since November 2008).