2009-05-01 USER

[Skip to the end]

U of Michigan Confidence (Apr F)

Survey 61.9
Actual 65.1
Prior 61.9
Revised n/a

Karim writes:

  • Final April rises to 65.1 from prelim 61.9
  • Inflation expectations edge down from 3.0% to 2.8% for 1yr fwd; edge up from 2.7% to 2.8% for 5yr fwd


U of Michigan Confidence TABLE Inflation Expectations (Apr F)


Factory Orders YoY (Mar)

Survey n/a
Actual -21.6%
Prior -19.7%
Revised n/a


Factory Orders MoM (Mar)

Survey -0.6%
Actual -0.9%
Prior 1.8%
Revised 0.7%


Factory Orders TABLE 1 (Mar)


Factory Orders TABLE 2 (Mar)


Factory Orders TABLE 3 (Mar)


ISM Manufacturing (Apr)

Survey 38.4
Actual 40.1
Prior 36.3
Revised n/a

Karim writes:

  • In line with signal provided by Chicago PMI yesterday. Improvement to a still contractionary level; orders boosted by some new found availability of cash/credit, though not all the way back (see anecdote below).
  • All sub-components up;16 or 17 industries still contracting.

Commodities Up in Price

Copper is the only commodity reported up in price.

Commodities Down in Price

Aluminum; Aluminum Based Products; Caustic Soda; Corrugated Containers; Fuel Surcharges; Natural Gas; Scrap Metal; Steel; and Steel Products.

Commodities in Short Supply

No commodities are reported in short supply.

  • “International customers are having trouble getting cash for new orders, even though they need/want the equipment.” (Computer & Electronic Products)
  • “Starting to see some signs of increased production and demand from some automotive customers.” (Fabricated Metal Products)
  • “Business conditions continue to be soft, but agriculture-related products are still quite bullish.” (Machinery)
  • “We are optimistic that things will change for the better in 3Q.” (Chemical Products)
  • “Starting to hear of slight upticks in orders from some sectors of our business but not all.” (Electrical Equipment, Appliances & Components)


ISM Prices Paid (Apr)

Survey 34.0
Actual 32.0
Prior 31.0
Revised n/a