Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods dropped 0.5 percent in August, reversing the 0.5 percent gain in July and leaving year-over-year growth essentially unchanged at 9.5 percent. Durable goods orders contracted 1.5 percent over the month, largely driven by transportation equipment, aircraft materials in particular. Excluding transportation equipment, durable goods orders actually rose a moderate 1.7 percent. Nondurables, on the other hand, inched up 0.3 percent. Orders for nondefense capital goods excluding aircraft—considered a leading indicator of business investment spending—rebounded 5.1 percent in August after plummeting 5.3 percent in July, pushing the series’ 12-month growth rate back up to 20.2 percent from 13.9. Manufacturers’ inventories expanded 0.1 percent while shipments declined by 0.6 percent, causing the inventory-to-shipments ratio to rise from 1.26 to 1.27, matching its November 2009 level.