Tag Archives: manufacturing

Aircraft Orders Lift Durable Goods

Durable goods orders jumped a more-than-expected 3% in October, buoyed by a surge in aircraft orders for Boeing at the Dubai air show. Moreover, orders were revised up for the month of September. Nondefense and ex-aircraft orders, which more closely correlate with direct business investment, increased

Industrial Production Better than Headline

Industrial production dropped a more-than-expected 0.2% in October. All of that weakness, however, can be attributed to sharp declines in utilities and mining. Milder-than-usual autumn weather pushed down utilities, while mining and extraction continued to suffer from low prices at the gas pump.

Primed for Disappointment?

Payroll employment is expected to rise by 165,000 in October, a little better than September but still well below the almost 200,000 per month average for the last year. Private payrolls are expected to rise by 150,000. Hiring for workers needed to assemble and deliver packages for the holiday season is expected to be a [...]

Construction Gains Solid, Only in Key Sectors

Construction spending rose 0.6% in September, a little more than expected. Gains in multifamily construction in particular continued to substantially outpace gains in the single-family market. We also saw solid gains at auto dealers, which is not surprising given the recent surge in sales,

Durable Goods Orders Drop

Durable goods orders fell for the second month in a row, largely in response to a downdraft in the volatile aircraft component. Losses were broad-based with the exception of the vehicle sector.

Production Losses Persist

Industrial production fell 02% in September, while revisions for July and August essentially offset each other.

A Primer on Employment

We are looking for non-farm payrolls to come in at 220,000 with upward revisions to August, which is a notoriously volatile month. Private payrolls are expected to increase by 215,000 with strong gains once again in health care.

Manufacturing Weak but Construction Is on the Mend

The ISM index of manufacturing activity slowed to 50.2 in September, which suggests that overall manufacturing activity is still expanding but only slightly.

Orders Moderate for Durable Goods

Durable goods orders fell 2% in August, well in line with expectations after two months of strong gains. Both aircraft and vehicle orders accounted for the decline. Transportation equipment had been a driver of gains earlier this summer. Core capital goods orders (excluding aircraft and defense) also retreated a bit after two robust months. Core [...]

Industrial Production Drops

Industrial production fell a larger-than-expected 0.4% in August after a strong upward revision to July. The volatility in the number was caused by changes in vehicle production, which have proven difficult to capture on a seasonally adjusted basis. Plants that were previously shuttered during July were up and running; that is borrowing from the usual [...]