Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods decreased 5.2 percent (nonannualized) in August, following an increase of 2.6 percent in July. This month’s decrease pulled the near term trend (three-month annualized growth rate) back in to negative territory at −12.3 percent. With the exception of July, the near-term trend has been negative since March 2012. Year-over-year growth rates for new orders have posted a negative number, −2.5 percent, for the first time since October 2008. Excluding transportation new orders increased 0.7 percent for the month. The durable goods orders series decreased 13.2 percent for the month pulling down the three-month annualized growth rate to −31.4 percent. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, actually rose 1.1 percent for the month while its three-month annualized growth rate remains in negative at −25.6 percent. Shipments of manufactured goods declined 0.3 percent for the month, as its three-month annualized growth rate has slowed to 1.4 percent from 3.9 percent in August. Unfilled orders fell 1.7 percent for the month. The unfilled orders-to-shipments ratio now rests at 6.27, roughly where it has been since late 2009. Inventories also continue to accumulate, 0.6 percent, however the inventory/sales ratio, 1.28, has also remained stable around since late 2009.