Prior month -14Composite index -14 versus -10 estimatexx. Services index 9 vs 3 last monthManufacturing shipments -12 vs -8 last month
Other details:
Employment -10 vs -17 last month. Better but still negative. Wages 17 vs 16 last month. Marginally higher. Prices paid 2.48 vs 2.70 last month. Lower.Prices received 2.07 vs 1.71 last month. HigherNew orders -19 vs -17 last month. Lower.Backlog of orders -27 vs -14 last month. LowerCapacity utilization -15 vs -11 last month. LowerCapital expenditures zero vs -23 last month. Higher.Services expenditure -20 vs -22 last month Higher but stil negativeFinished goods inventories 29 vs 17 last month. Higher inventories (weaker)Raw materials inventory 13 vs 12 last month. Little changedEquipment and software spending -1 vs -21 last month. Higher
Overall, the data is pointing to the downside but there is a longer term tilt higher if you look at the 3-month averages (in the charts) .
Looking at expectations 6 month forward:
Shipments 33 versus 22 last monthnew orders 37 versus 35 last month.Backlog of orders 10 versus eight last month.Capacity utilization 25 versus 23 last month.Capital expenditures -12 versus -6 last months.Finished goods inventories seven versus four last monthraw material inventories one versus five last month.Equipment and software spending -12 versus -10 last month.Services expenditures -19 versus -18 last monthEmployees -3 versus 4last monthprices paid 2.61 versus 2.72 last monthprices received 2.2 versus 1.4 last monthwages 51 versus 47 last month
This article was written by Greg Michalowski at www.forexlive.com.
