April Factory Orders Preview
April Factory Orders are expected to fall 0.1% in April following a 1.3% increase in March. Factory Shipments are expected to increase 0.8% following a 1% increase the prior month.
April Factory Inventories are expected to gain 0.7%, which would put the inventory-to-sales ratio at 1.55. Durable Goods Orders are expected to fall 0.5%, Durable Shipments are expected to increase 1.2%, and Durable Inventories are expected to gain 0.5%.
Market uncertainty combined with inflation and dreadfully low consumer confidence continued to complicate the US manufacturing sector in April. There have been some modest improvements in related April manufacturing data but nothing significant enough to indicate a clear trend reversal in the US manufacturing sector.
Related data:
• April Durable Goods Orders down 0.5%, Durables ex-transports up 2.5%
• May Empire FED Index: -3.2 vs. 0.6 prior
• May Philly FED Index: -15.6 vs. -24.9 prior
• May Chicago PMI: 49.1 vs. 48.3 prior
• May NAPM Milwaukee: 45 vs. 48 prior
• April Industrial Production down 0.7%
• May ISM Manufacturing Index: 49.6
* Employment Index: 45.5 vs. 45.4 prior
* New Orders: 49.7 vs. 46.5 prior
* Production Index: 51.2 vs. 49.1 prior
* Backlogs Index: 46 vs. 51.5 prior
* Supplier Deliveries: 53.7 vs. 54 prior
* Inventories: 48 vs. 48.1 prior