Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods increased 1.0 percent (nonannualized) in April, following a decrease of 4.7 percent in March. Year-over-year growth rates for new orders are up just 0.6 percent. Excluding transportation, new orders fell 0.1 percent for the month while new orders of durable goods rose 3.5 percent and nondurable goods orders declined 1.0 percent. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, increased 1.2 percent. Shipments declined 1.0 percent, whereas unfilled orders and inventories of manufactured goods increased 0.3 percent and 0.2 percent for the month, respectively. The unfilled orders-to-shipments ratio now rests at 6.26, roughly where it has been since late 2009, but still well above the pre-crisis average of 4.3. The inventory/shipments ratio edged up to 1.31, roughly where it has been since late 2009.