Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
--Factory Inventories Up 0.7%; Business Inventories Tracking Flat
By Sara Haire and Holly Stokes
WASHINGTON (MNI) - The value of new factory orders rose by
1.4% in September, rising slightly higher than the expected 1.2% rise by
analysts from an MNI survey. Nondurable goods orders rose 0.8%, but
durable goods orders were revised down to a 2.0% increase from a 2.2%
increase, data released by the Commerce Department Friday morning
Petroleum and coal products shipments rose by 5.0% in September,
leading the increase in nondurables orders. Nondurables shipments are
equivalent to orders in this report.
Total factory orders excluding transportation rose 0.7% in
September, while durable goods orders excluding transportation were up
0.7%, unrevised from the 0.7% increase in the advance estimate.
Transportation orders for September rose 4.7% based on Friday's
data, down slightly from the 5.1% gain in the advance estimate from the
durables report released October 25. Nondefense aircraft orders rose by
30.8% in September and defense aircraft orders were up 2.5%. Motor
vehicles orders rose 0.1% in September, while orders for ships and boats
rose by 33.2%.
Nondefense capital goods new orders saw a 6.4% increase, but
were up only 1.7% when a 62.3% increase in the civilian aircraft
capital goods category is excluded.
Overall factory shipments were up 0.8% in the month due to a 0.9%
rise in durable goods shipments and a 0.8% increase in nondurables
shipments. Shipments for nondefense capital goods rose 2.5% and
were up 0.9% excluding aircraft component.
Factory inventories were up 0.7% in the month, compared with
the 0.8% increase in shipments, making the inventory-to-shipments
ratio stay at 1.38.
The Commerce Department's advance report on inventories showed a
0.3% increase for wholesale inventories and a 1.0% decline for retail
inventories. While these data are eligible for revision, the levels as
they stand now, combined with Friday's factory inventory data, would
result in a flat reading in September for business inventories when that
report is released on November 15, an MNI calculation showed. The
revised wholesale data for September will be released on November 9 and
could alter this projection.
** MNI Washington Bureau: 202-371-2121 **