Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods decreased 1.5 percent (nonannualized) in March, following an increase of 1.1 percent in February. This month’s decrease pulled the near term trend (three month annualized growth rate) sharply negative to −5.8 percent down from 14.7 percent in December. Year over year growth rates slowed considerably as well down to 3.3 percent from a 12.1 percent reading in December. Excluding transportation new orders were flat for the month. Durable goods orders series decreased 4.0 percent for the month pulling down the three month annualized growth rate to −20.4 percent, the lowest reading since March 2009. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, fell 0.1 percent for the month while its 3-month annualized growth rate, −3.3 percent, continues to fluctuate from positive to negative readings as it has since the fall. Shipments of manufactured goods grew 0.7 percent for the month, while its 3-month annualized growth rate remains steady just below 6 percent. Unfilled orders were little changed in March increasing 0.1 percent. Over the past three months unfilled orders have increased 8.2 percent, down from 15.1 in January. The unfilled orders-to-shipments ratio now rests at 6.17. Inventories also continue to accumulate, 0.3 percent, however the inventory/sales ratio has remained stable at 1.33.