Tag Archives: autos
Durable goods orders rose 3.4% in June after contracting a more-than-previously-reported 2.1% in May. A 66% surge in the highly volatile aircraft sector accounted for much of the gain.
Durable goods orders fell 1.8% in May and were revised down for the month of April. Much of the drop was driven by a sharp drop in aircraft orders, which are extremely volatile. The remainder, however, was a disappointment. The vehicle sector, which had been one of the bright spots for factory orders, flatlined in [...]
Retail sales jumped 1.2% in May from April as hibernating consumers emerged from their caves. Vehicle sales fueled overall gains but were not as strong as we expected, given the near-record, 17.8 million-unit, annualized pace we saw for the month. Incentives were sweetened to drain dealer inventories. Some of the gains we saw also likely [...]
We are expecting nonfarm payrolls to rise by 205,000 in May, a little less than consensus. The private sector is expected to account for 200,000 of those gains, with state and local governments adding 5,000 jobs, mostly in education. The quality of new jobs for the month, however, is expected to improve as the demand [...]
Real GDP fell by 0.7% in the first quarter, almost one percent lower than initial estimates. The bulk of the slowdown may be attributed to a smaller-than-initially-reported buildup in inventories, slower consumer spending and stronger imports. The only upside revision was to residential investment, which reflects the glimmer of light we have seen in housing [...]
Durable goods orders fell 0.5% in April after rising an upwardly revised 5.1% in March. February data were weak. All of the decline in durable goods orders, however, may be attributed to a drop in aircraft orders in the defense sector. Defense aircraft orders increased up a whopping 120% in March. Capital goods orders excluding [...]
Industrial production dropped 0.3% in April. The decline for March was not as severe as originally reported, but still lower. Losses in the mining and utilities sector are driving the drop in industrial production. That said, the weakness was broad-based
Personal consumption expenditures rose 0.4% in March after being revised up slightly for the previous month. The increase was 0.2% faster than the pace of inflation. Personal disposable income growth actually contracted slightly
Recent weeks have not been kind to economic readings, with a mix of negative reports or failures to meet expectations. Today’s report on industrial production in March is in line with the overall soft trend for the first quarter.
Industrial production rebounded 1.3% in the month of November and was revised up for the month of October, when weakness in the mining and utilities sector took a toll on overall gains. Upward revisions were made back to June, which helps explain some of the buildup in inventories that we saw in the third quarter. [...]