Tag: new orders

Excluding Transportation, New Durable Goods Orders Were Soft in October

The Census Bureau said that new durable goods orders rose 0.4 percent in October, increasing for the first time since July. Yet, the October figure was buoyed by higher transportation order sales, which grew 3.4 percent for the month. Orders of motor vehicles and parts were up 0.3 percent for the month and 6.1 percent year-to-date, suggesting that that segment of the manufacturing sector remains quite healthy. Defense aircraft sales were also up sharply in October. (continue reading…)

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Richmond Fed: Manufacturing Activity Expanded at a Slower Rate in November

The Richmond Federal Reserve Bank said that manufacturing activity expanded at a slower rate in November. The composite index of general business conditions declined from 20 in October to 4 in November. To be fair, the October figure represented the fastest pace since December 2010, and as such, some pullback might have been expected. The larger story is that manufacturers in the Richmond Fed district have now reported expanding levels of activity for eight straight months, with the headline index averaging 9 over that time frame. This suggests modest growth overall. (continue reading…)

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Dallas Fed: Manufacturing Activity Continued to Expand in November

The Dallas Federal Reserve Bank said that manufacturers continued to expand in November. The composite index of general business conditions was unchanged at 10.5 for the month. It has averaged 9.7 over the past nine months, which was progress from the 0.3 index reading in February. As such, we continue to see modest gains among manufacturers in the Dallas Fed district, with mostly positive expectations about the future. (continue reading…)

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Kansas City Fed Reported Increased Manufacturing Activity in November

The Federal Reserve Bank of Kansas City said that manufacturing activity picked up somewhat in its district in November. The composite index rose from 4 in October to 7 in November, its highest level in four months. Along those lines, the pace of production (up from 3 to 9), shipments (up from zero to 7) and employment (up from 6 to 9) improved for the month. In addition, export sales (up from -9 to 8) were positive for the first time since April. Yet, growth remains far from robust, with new orders (down from 2 to 1) decelerating for the fourth consecutive month and just barely above neutral. (continue reading…)

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Philly Fed Manufacturers Were Very Positive about Activity in November

The Federal Reserve Bank of Philadelphia said that manufacturing activity expanded very strongly in November, with its composite index measuring an off-the-chart 40.8 for the month. This was up from 20.7 in October, and you would have to go back two decades to find a higher figure (December 1993’s 41.2 reading). In fact, 49.2 percent of respondents to the Manufacturing Business Outlook Survey said that conditions had improved in November, up from 34.2 percent who said that same thing in October. Along those lines, the Philly Fed survey has registered above average index figures since the first quarter, averaging 23.0 from April to November. That suggests that manufacturers in the district are currently very positive about their businesses. (continue reading…)

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Markit: Chinese and European Economies Stalled in November

The HSBC Flash China Manufacturing Purchasing Managers’ Index (PMI) fell to neutral (50) in November, down from 50.4 in October. This was the weakest reading since Chinese respondents noted contracting levels of activity from January through May. Indeed, output contracted once again (down from 50.7 to 49.5) for the first time since May, which was not a good sign. Hiring (down from 48.9 to 48.4) was also negative for the 13th straight month. On the positive side, new orders (up from 51.2 to 51.4) edged slightly higher, and exports (down from 51.7 to 50.5) continued to expand, albeit at a much slower pace. (continue reading…)

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NY Fed: Manufacturing Activity Picked Up Again in November

The Empire State Manufacturing Survey reported a pickup in activity again in November after slowing somewhat in October. The New York Federal Reserve Bank’s composite index of general business conditions rose from 6.2 in October to 10.2 in November. While this figure reflects continued expansion in the sector, it is perhaps notable that the headline figure had averaged 21.2 over the five months of May through September. As such, growth for manufacturers in the New York Fed district has been more modest in the fourth quarter than it was mid-year. (continue reading…)

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ISM: Strong Gains in the Manufacturing Sector in October

The Institute for Supply Management’s (ISM) manufacturing purchasing managers’ index (PMI) grew strongly in October, rebounding after a disappointing headline figure in September. The main index rose from 56.6 in September to 59.0 in October, back to where it had been in August. As such, the August and October readings were both the highest levels since March 2011, suggesting healthy gains in the sector as we move into the fourth quarter. (continue reading…)

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Richmond Fed: Manufacturing Activity Continued to Expand at Fastest Pace in Nearly 4 Years

The Richmond Federal Reserve Bank said that manufacturing activity continued to expand at its fastest pace since December 2010. The composite index of general business conditions rose from 14 in September to 20 in October. It was the seventh consecutive monthly expansion since the winter-related contractions in both February and March. Indeed, much like other regional surveys, these data show an uptick in demand and production for manufacturers recently, with a mostly upbeat assessment for the coming months.

Looking specifically at current activity, manufacturing leaders in the Richmond Fed district noted sharply higher paces for new orders (up from 14 to 22) and shipments (up from 11 to 23). (continue reading…)

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Dallas Fed: Manufacturing Outlook Picked Up Somewhat in October

The Dallas Federal Reserve Bank said that manufacturers continued to expand in October, with the pace of growth in production easing ever-so-slightly. The composite index of general business conditions edged slightly lower, down from 10.8 in September to 10.5 in October. It has averaged 10.3 over the past seven months, which was progress from the 0.3 index reading in February. (continue reading…)

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