| Factory Orders |
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Released On 8/3/2011 10:00:00 AM For Jun, 2011
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Prior | Consensus | Consensus Range | Actual |
| Factory Orders - M/M change | 0.8 % | -1.0 % | -1.7 % to -0.7 % | -0.8 % |
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Highlights
Factory orders fell 0.8 percent in June reflecting a steep 1.9 percent decline in durable goods (revised from minus 2.1 percent). Orders for non-durable goods, the new data in today's report, were unchanged in the month. Orders for nondefense capital goods, for defense goods and for transportation equipment were especially weak in June. Other readings include incremental monthly gains of 0.2 percent for shipments and inventories and a little bit stronger gain of 0.3 percent for unfilled orders. The nation's manufacturing sector appears to be slowing this summer but still looks to be in growth mode.
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Market Consensus before announcement
Factory orders in May rose 0.8 percent, following April's disappointing 0.9 percent decline. New orders on the durable side-boosted by gains for aircraft and motor vehicles-gained a sharp 2.1 percent. Nondurables orders dipped 0.2 percent. Non-durable goods are especially sensitive to price changes in this case a dip back for energy prices. More recently, new factory orders for durables in June fell 2.1 percent. Excluding transportation, durables edged up 0.1 percent.
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Definition
Factory orders represent the dollar level of new orders for both durable and nondurable goods. This report gives more complete information than the advance durable goods report which is released one or two weeks earlier in the month.
Why Investors Care
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![[Chart]](showimage.asp?imageid=21180)
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Even though monthly shipment data fluctuate less than new orders, both series show underlying trends more clearly by looking at year-over-year changes. In 2005 for example,new orders rose more rapidly than shipments due to large gains in aircraft orders. Aircraft orders have a long lead to shipment.
Data Source: Haver Analytics
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