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The Advance Release on Durable Goods Activity reported one week earlier tends grab more market attention, given that durable goods make up more than half of factory orders.
Factor Orders does provide a comprehensive look at the manufacturing sector. Specifically, the New Orders figure can act as a gauge of demand across industries while Shipments are indicative of supply. The Unfilled Orders and Inventory figures reconcile the balance between New Orders and Shipments; high Shipments are indicative of an excess of demand relative to supply, high Inventories signal an excess of supply over demand.
Figures are reported in billions of dollars and also in percent change from the previous month. The value of orders placed for relatively long lasting goods.
Durable Goods are expected to last more than three years. Such products often require large investments and usually reflect optimism on the part of the buyer that their expenditure will be worthwhile. Because orders for goods have large sway over the actual production, this figure serves as an excellent forecast of U. Durable Goods are typically sensitive to economic changes. When consumers become skeptical about economic conditions, sales of durable goods are one of the first to be impacted since consumers can delay purchases of durable items, like cars and televisions, only spending money on necessities in times of economic hardship.
Conversely, when consumer confidence is restored, orders for durable goods rebound quickly. The data is highly volatile as well, some volatility is eliminated with the Durable Goods Orders excluding Transportation figure, making it the more closely watched indicator.
The headline figure is expressed as a percentage change from previous months. The Durable Goods Orders figure is also reported excluding transportation expenditures. Orders for items like civilian vehicles or aircrafts are fairly expensive and fluctuate idiosyncratically, distorting the Durable Goods Orders figure. Such goods are excluded to provide a better measure of durable goods orders. The average amount of pre-tax earnings per regular employee, including overtime pay and bonuses.
Though the report does not take into account all sources of household income accumulated wealth and capital gains from financial assets are omitted , Labor Cash Earnings accurately reflects the spending ability of domestic consumers, one of the driving forces behind economic growth.
Because growth in wages fuels higher consumption, rising Labor Cash Earnings generally lead to higher inflation. Measures the current economic activity based on a composite of indicators that track current business conditions in Japan. The headline number is derived by comparing the number of expanding indicators to the total number of indicators used. Included in the index are; the expansion or contraction of industrial production, capacity utilization, retail and wholesale sales, power consumption, non-scheduled work hours, the job-offer rate and operating profits.
Measures the total change in orders placed at domestic manufacturers. The figure gives a picture of the strength of demand for German industrial products.
Factory orders are an early indicator of the overall level of spending in the economy, and spending drives economic growth. Although higher German Factory Orders alone is not a strong enough factor to influence the value of Euro in a significant way, growth in orders can put upward pressure on the Euro if higher orders are due to greater demand aboard.
German Factory Orders is a seasonally adjusted index. The headline figure is expressed as a percentage change in the index. It is the key gauge for inflation in Switzerland.
Simply put, inflation reflects a decline in the purchasing power of the Franc, where each Franc buys fewer goods and services. The CPI calculates the change in the price of a predetermined basket of consumer goods and services. This basket represents the goods and services that an average household will purchase.
The figure is compared to those of the previous month as well as the previous year in order to gauge changes to the costs of living on a month to month and year to year basis. The headline number is the percentage change either from the previous month's value or the previous year's value. As the key indicator of inflation, a rising CPI may prompt the Swiss National Bank to raise interest rates in attempt to manage inflation and slow economic growth.
Higher interest rates make holding the Franc more attractive to foreign investors, and this higher level of demand will place upward pressure on the value of the Franc. The percentage of people in the total - labor force without jobs but willing to work and are actively seeking employment. Lower unemployment bodes well for the economy, translating into more income-earning workers and greater consumption. While such increased expenditure accelerates economic growth, it can also heighten inflationary pressures.
On the other hand, a higher unemployment rate tends to lead to lower consumer spending and a contracting economy. The Unemployment Rate is one of the most watch headline indicators of Canada 's labour market. The net change in the number of people employed in Canada.
Increases in employment are generally accompanied by higher consumption and expenditure levels. At the same time, higher employment, consumption and expenditures may lead to heightened inflationary pressures that encourage central banks to tighten monetary policy. If the Bank of Canada were to raise interest rates, it would put upward pressure on the Canadian dollar. Because this is the main employment report in Canada it tends to have significant impact on the market.
The headline figure is the change in employment in thousands. Need to ask questions to an analyst? Join the Canadian employment change live broadcast. The difference between imports and exports of goods. Merchandise Trade differentiates itself from Trade Balance because it does not record intangibles like services, only reporting on physical goods.
Because exports of tangibles like oil, gold and manufacturing contribute to a large part of Canada 's GDP, trade data can give critical insight into developments in the economy and into foreign exchange rates.
Negative International Merchandise Trade deficit indicates that imports of goods are greater than exports. When exports are greater than imports, Canada experiences a trade surplus. Trade surpluses indicate that funds are coming into Canada in exchange for exported goods.
Because such exported goods are usually purchased with Canadian dollars, trade surpluses usually reflect currency flowing into Canada, such currency inflows may lead to a natural appreciation of a the Canadian dollar, unless countered by similar capital outflows Canadian International Securities Transactions tracks such capital flows. At a bare minimum, surpluses will buoy the value of the currency. There are a number of factors that work to diminish the market impact of Canadian Merchandise Trade on markets.
The report is not very timely, released about three months after the reporting quarter. Developments in many of the components that comprise the figure are also usually well anticipated. Lastly, since the report reflect data for a specific reporting quarter, any significant changes in the Merchandise Trade should plausibly have been already felt during that quarter and not during the release of data.
But because of the overall significance of Trade on Foreign Exchange Rates, the figure has a history of being one of the more important reports out of Canada.
The headline figure for trade balance is expressed in millions of Canadian dollars and usually accompanied by a year-on-year percentage change figure. The trade balance is one of the biggest components of the US's Balance of Payment, which gives valuable insight and heavy pressure on the value of the dollar. A positive Trade Balance surplus indicates that exports are greater than imports.
When imports exceed exports, the US experiences a trade deficit.