Tag: new orders

Kansas City Fed Reported Contracting Activity for the Third Consecutive Month in May

The Kansas City Federal Reserve Bank said that manufacturing activity contracted for the third consecutive month in May. The composite index dropped from -7 in April to -13 in May, suggesting a sharper drop in activity than the month before. Indeed, several of the key data points declined at faster rates in May than in April. This included new orders (down from -12 to -19), production (down from -2 to -13), shipments (down from -7 to -9) and the average workweek (down from -10 to -14). At the same time, employment (up from -18 to -17) decreased sharply, and exports (up from -12 to -9) contracted for the fifth straight month, even as both measures fell at slightly slower paces for the month. (continue reading…)

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Philly Fed: Manufacturing Outlook Eased Slightly in May

The Philadelphia Federal Reserve Bank said that the manufacturing outlook eased slightly in May. The composite index of general business activity dropped from 7.5 in April to 6.7 in May. In general, the outlook has weakened so far this year relative to last year, with the headline measure averaging 6.1 through the first five months of 2015. This compares to the more-robust average of 25.1 observed in the second half of 2014, with the softness experienced year-to-date largely the result of a number of headwinds seen in the U.S. and global economy. At the same time, manufacturers in the Philly Fed district have reported expanding levels of activity for 15 straight months. (continue reading…)

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Markit: U.S. Manufacturing Activity Slowed in May; Europe Improved, but China Contracted Once More

The Markit Flash U.S. Manufacturing PMI declined from 54.1 in April to 53.8 in May, easing to its lowest level since October 2013. It was the second straight monthly deceleration in manufacturing activity, and the slowing in May reflected slower growth in new orders (down from 55.3 to 54.2) and output (down from 55.3 to 55.0). Exports (up from 48.8 to 49.6) continued to contract, but declined by less for the month. On the positive side, hiring (up from 53.7 to 54.3) accelerated to its fastest rate in six months. Moreover, even with some weakening in sentiment, the measures for demand and production growth for U.S. manufacturers remains decent overall. (continue reading…)

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ISM: Headline Number Unchanged at 51.5, but Orders and Production Rebounded a Little

The Institute for Supply Management’s (ISM) manufacturing purchasing managers’ index (PMI) was unchanged at 51.5 in April. On the positive side, manufacturing activity has continued to expand very modestly, and yet, these data reflect softness in the market seen over the past few months. Six months ago, for instance, the PMI value was 57.9, and this headline number has trended lower since then. Demand and output have shifted into a lower gear on challenges from a stronger U.S. dollar, reduced crude oil prices, residual impacts from the West Coast ports slowdown, and other factors. The sample comments note that these headwinds were top-of-mind for survey respondents in this report. (continue reading…)

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Richmond Fed: Manufacturing Activity Contracted for the Second Straight Month in April

The Richmond Fed said that manufacturing activity remained soft in April, contracting for the second straight month. If there was a silver lining, it was that several key indicators declined by less in this report. The composite index of general business conditions improved from -8 in March to -3 in April. Along those lines, the pace of the decline eased for a number of indices, including new orders (up from -13 to -6), shipments (up from -13 to -6) and capacity utilization (up from -7 to -4). It was the third consecutive monthly decrease in new orders, reflecting weaker demand. (continue reading…)

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Dallas Fed: Manufacturers Continue to Struggle on Crude Oil, Dollar Woes

The Dallas Federal Reserve Bank said that manufacturing activity contracted in Texas for the fourth straight month. The composite index of general business conditions rose from -17.4 in March to -16.0 in April, suggesting a slightly slower pace of decline for the month. Yet, it is clear that manufacturers in the district are struggling with lower crude oil prices and a stronger U.S. dollar. Each was mentioned several times in the sample comments, providing a double whammy to the Texas economy. Nearly 28 percent of manufacturing respondents to the survey suggested that conditions had worsened in April, versus 11.7 percent indicating some improvement. (continue reading…)

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Kansas City Fed: Manufacturing Sentiment Fell Further in April

The Kansas City Federal Reserve Bank said that manufacturing sentiment fell further in April, contracting for the second straight month. The composite index of general business conditions declined from -4 in March to -7 in April. The sample comments tick off a number of challenges for manufacturers in the district, including the strong U.S. dollar, lower crude oil prices, continuing logistics problems from the West Coast ports slowdown and global competition. The index for new export orders (down from -9 to -12) was negative for the fourth consecutive month, reflecting the dollar’s strength and weaknesses abroad. (continue reading…)

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Markit: Slower Manufacturing Data in China, Europe and the U.S. in April

Manufacturing activity in China contracted for the fourth time in the past five months, according to preliminary data from Markit. The HSBC Flash China Manufacturing PMI dropped from 49.6 in March to 49.2 in April, its lowest level in 12 months. The decline stemmed largely from reduced domestic demand, with the new orders index down from 49.3 to 49.2. The employment index (up from 47.4 to 48.0) has now reflected contracting levels of hiring for 20 straight months. On the positive side, new export orders (up from 49.0 to 50.6) shifted to a slight expansion in April, and output (down from 50.8 to 50.4) expanded ever-so slightly, albeit at a slower pace this month. (continue reading…)

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Philly Fed: Modest Manufacturing Growth in April, but With Lingering Challenges

The Federal Reserve Bank of Philadelphia said that manufacturing activity picked up a bit in April after softening over the past three months. The composite index of general business activity rose from 5.0 in March to 7.5 in April. This suggests modest growth overall, even as it continues to show an expansion that was slower than at the end of last year. The headline index was 24.3 in December, for instance. The Manufacturing Business Outlook Survey continues to reflect mostly positive attitudes moving forward, despite headwinds that will continue to challenge growth. One of those headwinds has been a stronger U.S. dollar. (continue reading…)

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NY Fed: Manufacturing Orders Contracted in April

The Empire State Manufacturing Survey contracted in April, ending three straight months of expansion in the district. The composite index of general business conditions from the New York Federal Reserve Bank declined from 6.9 in March to -1.2 in April. The decline stemmed from reduced new orders (down from -2.4 to -6.0), which decreased at a faster pace for the month. Nearly one-third of those taking the survey said that their new orders were lower in April, up from 27.5 percent in March. The index for the average employee workweek also narrowed, down from 5.2 to -4.3, but with 78.8 percent of respondents suggesting that the workweek was unchanged.  (continue reading…)

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