07162019Tue
Last updateTue, 16 Jul 2019 2pm

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Factory Orders Decreased in February

New orders for manufactured goods in February, down four of the last five months, decreased $2.6 billion or 0.5% to $497.5 billion, the U.S. Department of Commerce reported. This followed a virtually unchanged January decrease.

New orders for manufactured durable goods in February, down following three consecutive monthly increases, decreased $4.2 billion or 1.6% to $250.5 billion, unchanged from the previously published decrease. This followed a 0.1% January increase.


Manufacturing Jobs Declined in March

Total nonfarm payroll employment increased by 196,000 in March, and the unemployment rate was unchanged at 3.8%, the U.S. Department of Labor reported. Notable job gains occurred in health care and in professional and technical services.

Manufacturing employment dropped by 6,000 in March, following a gain of 1,000 in February. In the 12 months prior to February, manufacturing had added an average of 22,000 jobs per month.

Durable Goods Orders Down 1.6% in February

New orders for manufactured durable goods in February decreased $4.2 billion or 1.6% to $250.6 billion, the U.S. Department of Commerce announced. This decrease, down following three consecutive monthly increases, followed a 0.1% January increase. Excluding transportation, new orders increased 0.1%. Excluding defense, new orders decreased 1.9%. Transportation equipment, also down following three consecutive monthly increases, drove the decrease, $4.3 billion or 4.8% to $86.0 billion.

ISM: Manufacturing Still Solid in March

Manufacturing expanded in March, as the PMI registered 55.3%, an increase of 1.1% from the February reading of 54.2%. This indicates growth in manufacturing for the 31st consecutive month.

“Comments from the panel reflect continued expanding business strength, supported by gains in new orders and employment,” said Timothy R. Fiore, CPSM, C.P.M., chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee. “Overall, inputs continue to reflect an easing business environment, but to a lesser extent than in February, confirmed by the Prices Index returning to expansion.”

U.S. Economy Grew 2.9% in 2018

Real gross domestic product (GDP) in the U.S. increased at an annual rate of 2.2% (down from the original estimate of 2.6%) in the fourth quarter of 2018, according to the third estimate released by the Department of Commerce. In the third quarter, real GDP increased 3.4%.

Real GDP increased 2.9% in 2018, compared with an increase of 2.2% in 2017.

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