• Prior -10.1%. Revised to -10.0%
  • Ex-transport 0.0 vs -0.1% prior revised to 0.0%

Durable goods revisions

  • Goods -1.1% vs -1.3% prior
  • Non def cap ex-air -1.6% vs -1.7% prior
  • Ex-def -1.4% vs -1.5% prior
  • Ex- trans -0.1% vs -0.2% prior

Despite the positive ISM report yesterday there’s still factors pointing to signs of weakness in US manufacturing. It may just be a wobble but that’s the second month of falling orders on the trott. As usual the durable good side isn’t telling a trending story with all the big component swings. Revisions went in the right direction but there’s nothing to get excited about.

US factory orders durable goods revisions 04 11 2014

US factory orders durable goods revisions 04 11 2014

On the positive front shipments rose 0.1% from a -1.1% loss last month and unfilled orders rose only 0.3% from 0.6% prior. Inventories were up a tad and the inventory to shipments ratio was unchanged at 1.30. It’s a mixed report and probably fairly balanced between the plusses and the minuses.

US factory orders 04 11 2014

US factory orders 04 11 2014