Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods increased 0.7 percent (nonannualized) in May, following two reports of monthly declines in March and April. Despite this month’s increase the near term trend (three-month annualized growth rate) remains in negative territory at −8.0 percent. Year over year growth rates have continued to gradually decline from a high of 23.8 percent in April 2010 to a current reading of 3.0 percent. New orders excluding transportation increased 0.4 percent while durable and nondurable new orders rose 1.3 percent and 0.2 percent, respectively. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, increased 2.1 percent for the month while its three-month annualized growth rate remains negative at −6.7 percent. Shipments of manufactured goods rose 0.5 percent for the month, while its three-month annualized growth rate, 1.33 percent, has remained relatively level over the past two months. Unfilled orders were unchanged in May. Inventories declined 0.2 percent for the second consecutive month pulling the inventory-to-shipments ratio down to 1.27 from 1.28.