Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods decreased 0.6 percent (nonannualized) in April, following a decrease of 2.1 percent in March. This month’s decrease kept the near-term trend (3-month annualized growth rate) negative at −4.7 percent following a reading of −9.8 percent last month. Year-over-year growth rates continue to slow, at 3.5 percent. Excluding transportation, new orders were down 1.1 percent following a downwardly revised March estimate of −0.7 percent. New orders for durable goods were little changed for the month following a downwardly revised March estimate of −23.8 percent. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, fell 2.1 percent for the month while its 3-month annualized growth rate, −6.3 percent, posted two consecutive months of declines for the first time since late spring 2009. Shipments of manufactured goods declined 0.3 percent for the month, while its 3-month annualized growth rate has fallen to 0.5 percent (from 7.0 percent in February). Unfilled orders were little changed in April, falling 0.1 percent. Inventories, up two of the last 23 months, continue to accumulate, however the inventory/sales ratio has remained stable at 1.28.