Current industrial reports

MISSING IMAGE

Material Information

Title:
Current industrial reports
Portion of title:
Manufacturers' shipments, inventories, and orders
Physical Description:
v. : ; 28-29 cm.
Language:
English
Creator:
United States -- Bureau of the Census. -- Manufacturers' Shipments, Inventories, and Orders Branch
United States -- Bureau of the Census
Publisher:
U.S. Dept. of Commerce, the Bureau of the Census :
For sale by the Subscriber Services Section (Publications), Bureau of the Census
Place of Publication:
Washington, D.C
Creation Date:
September 1969
Publication Date:
Frequency:
monthly, with annual summary[1976-]
monthly[ former 1963-1975]
monthly
normalized irregular

Subjects

Subjects / Keywords:
Manufacturing industries -- Statistics -- Periodicals -- United States   ( lcsh )
Inventories -- Statistics -- Periodicals -- United States   ( lcsh )
Genre:
serial   ( sobekcm )
federal government publication   ( marcgt )
statistics   ( marcgt )

Notes

Additional Physical Form:
Also distributed to depository libraries in microfiche.
Additional Physical Form:
Some monthly issues also available via Internet from the Census Bureau website as: Highlights from the preliminary report on manufacturers' shipments, inventories, and orders. Address as of 12/17/03: http://www.census.gov/indicator/www/m3/prel/priorrel.htm; current access available via PURL.
Additional Physical Form:
Some annual summaries also available via Internet from the Census Bureau website. Address as of 12/8/2005: http://www.census.gov/prod/www/abs/m3-1.html; current access available via PURL.
Dates or Sequential Designation:
Oct. 1963-
Numbering Peculiarities:
Some annual summaries issued in revised editions.
Numbering Peculiarities:
Each annual summary cumulates previous issues for a period of prior years, i.e., annual summaries for <1976>-197 cumulate from 1958.
Issuing Body:
Prepared by: Bureau of the Census, Industry Division, Manufactures' Shipments, Inventories, and Orders Branch, 1963-1964; issued by: U.S. Department of Commerce, Economics and Statistics Administration, Bureau of the Census, <2000->
General Note:
Title from cover.
General Note:
Some issues not distributed to depository libraries in a tangible format.
General Note:
Paper copy no longer sold by Supt. of Docs., U.S.G.P.O.
General Note:
Latest issue consulted: July 2002.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 001320832
notis - AGH1708
oclc - 02548418
lccn - 74614399
issn - 0364-1880
Classification:
lcc - HD9724 .U52a
ddc - 380.1/0973
System ID:
AA00008477:00025

Related Items

Preceded by:
Industry survey
Preceded by:
Manufacturers' shipments, inventories, and orders

Full Text
I/ZN


-5


A UNIT) STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


FOR RELEASE: October 2, 1969


NDUSTR


NEW ORDERS W

New orders for manufactured r
decreased $1 billion to $54.3 b?%
billion in July, after seasonal adjustmex
of the Census, U.S. Department of


announced today. Durable goods declined $700
million to a total of $29.9 billion from $30.6 billion
in July and nondurables also declined $300 million to
$24.4 billion from $24.7 billion in July. A large part
of the decrease in durable goods new orders was
attributable to declines in the electrical machinery
and primary metals industries.

Among the supplementary series, orders for
defense products decreased more than $800 million
in August to $1.5 billion following a large increase in
July. New orders for consumer durable goods also
declined substantially in August to $2.0 billion from
$2.3 billion in July. Orders for machinery and
equipment declined for the second month to $6.2
billion in August compared with a July total of $6.3
billion. (SEE CHART 1)


SHIPMENTS


Manufacturers'


shipments


in August


remained


virtually unchanged at $54.8 billion compared with
$54.9 billion in July. A decrease in the nondurable
goods area of $300 million in August to $24.5 billion
was nearly offset by a $200 million increase in the
durable goods sector which rose to $30.3 billion.
In both the nondurable and durable goods sectors, the
changes in industry shipments were mixed. In the
durable goods area the major increases occurred in


the non-electrical
equipment industries


machinery and
. (SEE CHART 2


transportation


AL


CURRENT


ES: M3-l(69)-8


Chart 1- Manufacturers New OTers (Seasonally Adjusted)
Billions of Dollars*
-i I 45


1965 1966 1967 1968 1969


Chart 2- Manufacturers' Shipments (Seasonally Adjusted)
Billions of Dollars*
..-... 85
80
75
70
65
60


1966 1967 1968


REPORTS


Inventories

and Orders
August 1969


manufacturers'


Shipments,
/


Commerce,


)








2


UNFILLED ORDERS


Unfilled
facturers


orders


held by


durable


at the end of August


goods


decreased


manu-
I $400


Chart4.-Marifacturers' Unfilled Orders (Seasonally Adjusted)
"' Billions of Dollars*


million to $85.9 billion. Significant decreases in,
electrical machinery and the aerospace segment r?
the transportation group were partially offset by An'"
increase in the primary metals backlog. Asa result


of the decline


in the backlog and the increase in


shipments in August, the unfilled orders-shipments
ratio for durable goods declined to 3.15 in August
from 3.20 in July. (SEE CHART 3)


INVENTORIES

Total inventories held by all manufacturers at the
end of August increased nearly $500 million to $93.6


billion compared with the nearly $1 billion inc


for the preceding month.


As aresultof the inc


grease
rease


in total inventories and virtually unchanged ship-
ments, the inventories-shipments ratio edged up-
wards to 1.71 in August from 1.70 in July. Nearly
all major industry groups registered small total
inventory increases from their end of July levels.


1IIikI~ lilt


t




/


Chart 4- Total Inventory


Durable Gc








, 1 I 1 ,. ,


*Semiog. scale
Ii l lf l L l i


(Seasonally Adjusted)


Increases


of approximately $250 million occurred


Billions of Dollars*


in both the durable and nondurable industry groups.
At the all manufacturing level, increases of $300


million


each


occurred


finished goods while materials
$100 million. (SEE CHART 4)


for work-in-process


and supplies declined


The figures on the durable goods industries in
this report supersede those issued earlier in the
advance report on durable goods. The advance report
is based on a tabulation of early reports and is
limited to statistics on shipments, new orders, and
unfilled orders for a few broad industry categories.


ine presei
reporting,


nt report is based on more complete
but the estimates are also considered


preliminary. Final figures will appear as his-
torical data in the report to be published for next
month.

For an explanation of terms used in this report
see appendix following table 5.


Inquiries concerning these figures should be
addressed to the U.S. Department of Commerce,
Bureau of the Census, Industry Division, Washington,
D.C. 20233.


-- -










~li~lIil,


,-











- 1- I I 1 I


Total


Durable Goods


- -- 2


Nondurable Goods


t1~I *' I I


- ~ -


r -
- .~ -


Semilog. scale
i 11JMl.1.1 I j I












Table 1.--VALUE OF MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS, BY INDUSTRY GROUP
(Millions of dollars)

Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment
Industry group
Aug. July June Aug. July Aug. Aug. July June Aug. July Aug.
1969p 1969r 1969 19691 1969r 1968 1969' 1969 11969 969 1969r 1968


All manufacturing industries:
Total ...............................
Total, excluding transportation....
Durable goods industries, total.............
Stone, clay, and glass products...........
Primary metals, total.....................
Blast furnaces, steel mills............
All other primary metals................
Fabricated metal products, total..........
Metal cans, barrels, and drums..........
Machinery, except electrical, total.......
Engines and turbines ....................
Farm machinery and equipment............
Construction, mining, and material
handling equipment.....................
Metalworking machinery..................
General industrial machinery............
Electrical machinery, total..............
Electrical transmission and distribution
equipment and industrial apparatus.....
Household appliances, including radio
and TV .4 .*.i.. i .. .... .. i....f
Communication equipment.................
Transportation equipment, total...........
Motor vehicles and parts..............
Aircraft, missiles, and parts..........
Instruments and related products.........
All other durable goods industries........

Nondurable goods industries, total.........
Food and kindred products, total.........


Meat products...........


Tobacco
Textile


products.........
mill products.....


Paper and allied products, total.
Pulp, paper, etc ...............


* .* if i i*.


Chemicals and allied products, total......
Industrial chemicals, except pigments..
Petroleum and coal products...............
Rubber and plastics products, n.e.c.......
All other nondurable goods industries....


All manufacturing industries:
Total...............................
Total, excluding transportation.....
Durable goods industries, total....,.....
Primary metals, total....... ..............
Blast furnaces, steel mills.............
Fabricated metal products.................
Machinery, except electrical, total......
Engines and turbines.....................
Construction, mining, and material
handling equipment.....................
Metalworking machinery..................
General industrial machinery............
Electrical machinery, total...............
Electrical transmission and distribution
equipment and industrial apparatus.....
Household appliances, including radio
and TV.................................


Communication equipment.........
Transportation equipment, total....
Aircraft, missiles, and parts....
All other durable goods industries.

Nondurable goods industries, total...
Industries with unfilled orders....


* if.. if



* i f *
S...if..


Shipments


Total inventories


92,215
'7,501
50,479
2,431
7,798
4,194
3,604
6.358


61,520
2,428
7,852
A 0r.


31,656
7,212


New orders Unfilled orders


29,909 30,585


I .~ -


24,724


28,340


2,972
4,545
350

607
264
441
3,404

773


5,409


85,910


10,066


5,846

3,148
3,148


I


9,092


6,050

3,133
3,133


80,667


..if*if*.i........i
..ft ...........iiffiff


I













IINVENTORIES, AND ORDERS, FOR MARKET CATEGORIES AND SUPPLEMENTARY SERIES


(~4i11ions


of dollars)


Without seasonal eao l Without seasonal
Seasonally adjusted d. n1 Seasonally adjusted
y adjustment adju adjustment
Industry group
Aug. July June Aug.1 July Aug. Aug. July June Aug July Aug.
1969 1969r 1969 1969 1969r 1968 1969 69 1969 1969 1969r 1968


during


zncu2tr~e&


industries


total.


total/


goods industries,


roups


arranged


total.
market


categories:
Home goods and apparel.........
Consumer staples...............
Equipment and defenr product,
automotive ....................
Automotive equipment..........


except


material>, supplies,


intermediate products.........
Other materials and supplies and
intermeJiate products.........
Supplementary series:2


durable


goods


industries


and equipment indu


products
products


strike


industries (old s


(new series )*.


All manufacturing indu
e goods industries, to


Nondurable goods industries


groups


arranged


strie


cries).


3- total..


tal....
total.
market


and apparel.
taples...... .


Equipment and defense products,
autornmotive...................
Autoictive equipment..........


except


Construction materials, supplies,


products......


Other materials and supplies and
intermediate products..........


series:2


Consumer durable goods industries......
Machinery and equipment industries.....
Defense products industries (old series


products


(new series )...........


Shipments


54.786


5,066
10,322

8,864
4,650

4,452

21,432

2,250
6,316
4,029
1,989


3.476


20,875


50.501


4,259


New orders


21,342


55,309
30,585
24,724


53,861

29,171
24,690


i,030
10,327


Total inventories


93,649
61,706
31,943


9,833
' ^ ^ ~ ~ --


12,454
7,713


92,215
60,479
31,736


61,520
31,656


9,848
11,864

24,387
5,396

7,757

33.924


Unfilled orders


89,456
86,369
3,087



2,223


48,173

10,312

28,748


89.058


2,176


48,006

10,237

28,639

1,781
24,044
31,771
21,662


89,460
86,386
3,074



2,233


48,189

10,485

28,553

1,873
24,236
31,301
21,390


21,935


fDuring 1968manufacturers in ord
figures on shipments, orders, and t
in these new defense series. Since
has been seasonally adjusted using


communications,


otal in


aircraft and aircraft parts, and shipbuilding industries began


to provide


ventories of work performed for Department of Defense. The results of these reports are included
is no historic data available to develop separate seasonal factors for these reporters, the data


the factors of these industries.


for trading-day and calendar month variation; unfilled orders and


regroupings of the separate industry


categories as follows:


~Preliminary.


inventories as


of end of month.


1Shipments and new orders adjusted
2The supplementary series are


Consumer durable goods industries Household furniture; kitchen


articles


and pottery; cutlery, handtools, and hardware;


Machinery


and equipment


industries


household appliances; ophthalmic goods, watches, and clocks; and miscellaneous personal goods.
- Machinery, except electrical (excluding farm machinery and equipment and machine shops),


electrical


machinery


(excluding household appliances, communication equipment and


electronic components), shipbuilding and repairing, and railroad and street car equipment.
(old series) Based on reports for companies classified in the communication equipment, complete aircraft,


aircraft parts, and ordnance industries.


(Thus, this series includes significant amounts


of nondefense work in these industries and omits defense work performed in the shipbuilding


Defense


products (new


series)


- Based


industry.)
on separate reports


on defense work filed by large defense contractors in the following


industries: ordnance, communications, complete aircraft, aircraft parts, and shipbuilding.


Thus, it


from the old series in that it includes defense activity in shipbuilding and excludes non-


defense work in ordnance, communications, complete aircraft, and aircraft parts.


comparable to those published annually in the MA-175, Shipments


the specified


All manufact


Durable


goods


Nondurable
Industry g


Construction


Consumer


Machinery
Defense
Defense


Durabi


Industry


categories:
Home goods
Consumer s


intermediate


Supplementary


Defense


Defense


products


industries


aggregate


differs


of Defense-Oriented Industries


The data are












CHANGES


Table 3.--MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS UmNTH-TO-MONTH AND LONG TERM PERCENT


(Based on seasonally adjusted


data)


Month-to-month- 1969 Average, 1963-1968 Average monthly rates of change

3 months 6 months 12 months
Item and industry group July- June- May- Average Average
Aug. July June rise decline May-Aug. Feb.-Aug. Aug. 1968-
1969 1969 Aug. 1969

Shipments:
All manufacturing industries........... -0.2 +0.2 +1.9 +1.4 -1.1 +0.6 +0.5 +0.
Durable goods industries, total.......... +0.7 0.0 +1.9 +2.1 -2.0 +0.9 +0.3 +1.1
Nondurable goods industries, total....... -1.3 +0.6 +2.0 -1.0 -0.5 +0.4 +0.8 +0.5
Total inventories:
All manufacturing industries........... +0.5 +1.0 *0.1 '0.7 -0.2 +0.5 +0.7 +0.6
New orders:
All manufacturing industries........... -1.8 +2.7 -0.5 +1.8 -1.6 +0.1 +0.2 +0.7
Durable goods industries, total.......... -2.2 #4.8 -2.8 +3.2 -2.4 -0.1 -0.3 +0.8
Nondurable goods industries, total....... -1.2 +0.1 +2.3 +1.1 -0.6 +0.4 +0.7 +0.5
Unfilled orders:
Durable goods industries, total.......... -0.5 +0.5 -1.1 +1.2 -0.7 -0.4 +0.2 +0.6










Table 4.--RATIO OF MANUFACTURERS INVENTORIES TO SHIPMENTS AND UNFILLED ORDERS TO SHIPMENTS, BY INDUSTRY GROUP

(Based on seasonally adjusted data)

n t sp. rUnfilled orders shipments ratio1
Inventories shipments ratio ,
(months backlog)
Industry group
Aug. JulyJune Aug. Aug. July June Aug.
1969 1969g 1969 1968 1969 1969r 1969 1968


All manufacturing industries, total.................. 1.71 1.70 1.68 1.74 2.62 2.64 2.64 2.79
Durable goods industries, total............................ 2.03 2.04 2.01 2.09 3.15 3.20 3.17 3.38
Stone, clay, and glass products.......................... 1.77 1.77 1.76 1.55 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.70 1.63 1.65 2.03 1.66 1.56 1.50 1.51
Fabricated metals................................... ........ ........ 2.08 2.07 2.05 2.18 3.64 3.64 3.60 3.53
Machinery, except electrical............................. 2.30 2.38 2.27 2.30 3.00 3.13 3.01 2.95
Electrical machiney..................................... 2.34 2.30 2.26 2.41 3.39 3.38 3.33 3.65
Transportation equipment................................. 1.99 2.04 2.03 1.99 6.43 6.82 7.14 7.64
Instruments and related products......................... 2.04 2.19 2.06 2.13 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.31 1.28 1.29 1.33 0.46 0.45 0.47 0.50
Food and kindred products............................... 0.90 0.90 0.92 0.96 (X) (X) (X) (X)
Tobacco products......................................... 5.14 5.25 5.24 5.40 (X) (X) (X) (X)
Textile mill products.................................. 1.95 1.96 2.00 1.99 (NA) (NA) (NA) (NA)
Paper and allied products................................ 1.12 1.07 1.08 1.15 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.54 1.55 1.55 1.43 (X) (X) (X) (X)
Petroleum and coal products............................ 1.00 1.02 0.99 1.11 (X) (x) (X) (X)
Rubber and plastics products, j.e.c...................... 1.41 1.33 1.29 1.46 (X) (X) (X) (X)


(NA) Not available. Preliminary. rRevised. (X)
IExcludes the following industries with no unfilled orders:


Not applicable.
Wooden containers; glass containers; metal cans, barrels and drums; motor


vehicle assembly operations; foods and related products; tobacco; apparel and related products; chemicals; petroleum and coal products; and
rubber and plastics products, n.e.c.












Table 5.--VALUE OF MANUFACTURERS' INVENTORIES, BY STAGE OF FABRICATION, BY INDUSTRY GROUP

(Millions of dollars)

Without seasonal Without seasonal
Seasonally adjusted adjus nt Seasonally adjusted adjustment
Industry group
Aug. July June Aug. July Aug. Aug July June Aug. July Aug.
1969 1969r 1969 1969e 1969r 1968 1969 1969r 1969 1969 1969r 1968

Total Materials and supplies

All manufacturing industries, total.. 93,649 93,166 92,215 93,176 92,682 86,247 28,728 28,843 28,749 28,727 28,558 28,247
Durable goods industries, total........... 61,706 61,441 60,479 61,520 61,113 55,897 16,970 17,159 17,045 17,182 16,993 16,965
Stone, clay, and glass products.......... 2,462 2,463 2,431 2,428 2,468 1,976 787 791 764 786 791 666
Primary metals........................... 7,887 7,800 7,798 7,852 7,729 7,400 2,785 2,760 2,806 2,846 2,749 2,911
Machinery (electrical and nonelectrical). 21,659 21,586 21,207 21,540 21,516 19,501 5,146 5,140 5,143 5,197 5,216 4,911
Transportation equipment................ 15,229 15,154 14,714 15,201 14,773 13,743 3,228 3,444 3,291 3,259 3,129 3,511
All other durable goods industries....... 14,469 14,438 14,329 14,499 14,627 13,277 5,024 5,024 5,041 5,094 5,108 4,966
Nondurable goods industries, total......... 31,943 31,725 31,736 31,656 31,569 30,350 11,758 11,684 11',704 11,545 11,565 11,282
Chemicals and allied products............ 6,399 6,395 6,332 6,366 6,383 5,717 2,197 2,204 2,172 2,195 2,218 2,018
Petroleum and coal products.............. 2,085 2,078 2,079 2,099 2,088 2,080 477 468 467 479 477 429
Rubber and plastics products, n.e.c...... 1,888 1,851 1,805 1,859 1,826 1,723 587 578 563 608 593 562
All other nondurable goods industries.... 21,571 21,401 21,517 21,332 21,272 20,830 8,497 8,434 8,502 8,263 8,277 8,273

Work in process Finished goods

All manufacturing industries, total.. 33,962 33,659 33,018 33,961 33,623 30,267 30,959 30,6b4 30,448 30,488 30,501 27,733
Durable goods industries, total........... 28,976 28,714 28,072 28,927 28,618 25,496 15,760 15,568 15,362 15,411 15,502 13,436
Stone, clay, and glass products.......... 396 391 387 386 395 296 1,279 1,281 1,280 1,256 1,282 1,014
Primary metals........................... 2,723 2,687 2,674 2,692 2,665 2,438 2,379 2,353 2,318 2,314 2,315 2,051
Machinery (electrical and nonelectrical). 10,410 10,35 10,134 10,390 10,2o2 9,284 6,103 6,091 5,930 ,953 6,038 5,306
Transportation equipment................. 10,41, 10,232 9,927 10,399 10,188 8,980 1,586 1,478 1,496 1,543 1,456 1,252
All other durable goods industries....... ,032 5,049 ,950 :,060 5,108 4,498 4,413 4,365 4,338 4,345 .4,411 3,813
Nondurable goods industries, total....... .. 4,986 4,945 -,946 5,034 5,005 -,771 15,199 15,096 15,08t 15,077 14,999 14,297
Chemicals and allied products............ 933 946 931 9}4 944 867 3,269 3,245 3,229 3,237 3,221 2,832
Petroleum and coal products.............. 458 482 477 467 493 ,5 1,150 1,128 1,135 1,155 1,118 1,196
Rubber and plastics products, n.e.<...... 316 319 317 318 315 317 985 954 928 933 918 844
All other nondurable goods industries.... t,279 3,198 3,221 3,315 3,253 3,132 9,795 9,769 9,794 9,754 9,742 9,425
___________________________________________________________________________________


~Pre1iItLinary.









Appendix


The following is a description of the survey and


definitions use
the meaning
represent an


These are provided to


of the items


clarify


involved and do not


revisions from those definitions


previously employed.


EXPLANATION OF TERMS

Value of Shipments--Shipments in the monthly
survey are equivalent to value of shipments as


reported


in the


ASM


which


are received


receivable net selling values, f.o.b. plant, after


DESCRIPTION OF THE SURVEY


The Manufacturers' Shipments, Inventories,
and Orders survey provides monthly figures that
are comparable to the annual totals published each
year in the annual survey of manufactures (ASM).
The ASM is based on a sample of approximately
60,000 manufacturing establishments drawn from
the 5-year census universe of about 310,000 estab-
lishments. In the ASM, each manufacturing


establishment provides data on employment, pay-
rolls, shipments, cost of materials, capital


expenditures,
selected items
information o0


and inventories as well as other
. The establishments do not provide


n unfilled


orders or new orders.


Since the ASM is establishment based, it provides
data for each of the 425 manufacturing industries
in the Standard Industrial Classification System
(SIC) and area data for industry groups.


The monthly


survey


M3-1 does not provide


information at the complete SIC industry detail
because of the smaller size of the reporting panel
and the fact that most companies cannot provide
shipments, inventories, and orders data monthly
for individual establishments.

The monthly reporting panel consists of
approximately 5,000 reporting units and includes
virtually all companies with 1,000 or more em-
ployees and a sample of the smaller ones. The


reporting


unit typically


comprises


entire


operations of a company although many of the
larger diversified companies file separate divi-
sional type reports for their operations in different
industries.


Most


of the reporting


units


include


mixed


industry activity even within the broad industry


categories of the monthly survey. The survey
methodology assumes that the month-to-month
changes of the reporting units classified in each
industry category represent effectively the month-
to-month movements of the establishments in the
SIC industries which make up the category. Thus,
the monthly reports are used to update the ASM


estimates


using


a link relative of matched


companies in each industry.


discounts


and allowances and excluding freight


charges and excise taxes.


Included in shipments


are the value of all products sold,


transferred


to other plants of the same company, or shipped
on consignment.

Shipments also include receipts of establish-
ments in the industry for contract work performed


for others, resales,


receipts for miscellaneous


activities such as the sale of scrap and refuse;
value of installation and repair work performed by
employees of the plant; and value of research and
development performed at the plant. In the aircraft
industry and shipbuilding, the value of work done
in a given year varies considerably from the value
of shipments because of the long lead time between
the input of the materials and labor and the ship-
ments of the completed aircraft or ship. In the
annual survey, therefore, the value of work done
during the year is requested rather than the value
of shipments.

The value of shipments figures developed from
the ASM contain duplication at the all manufac-
turing and industry group levels since the products
of some industries are used as materials by other
industries within the industry group. With the ex-
ception of motor vehicles, it is not significant at


the 4-digit


group


level.


Since


the M3-1


industry categories typically are groupings of
industries, this duplication is significant for the
all manufacturing, durable goods and nondurable
goods categories and the various market groups.
The significance of the duplication within the
specific M3-1 industry groups varies depending on
the 4-digit industry composition of these groups.
It is most pronounced in a few highly integrated
industry areas such as primary metals and motor
vehicles and parts.

Since most monthly reports are for the entire
company or major divisions rather than establish-
ments, the companies are requested to report net
sales, i.e., total company billings after discounts
and allowances. Companies which file divisional
reports are requested to treat transfers from one
division of the company to another as if they were
net sales to outside customers. Although this


m.




UNIVERSITY OF FLORIDA

SI II 11 I I 1tH115
83 1262 08589 4151


definition of shipments in the monthly reports
differs from that used in the annual establishment


reports,
- 1


it is assumed that the month-to-month


changes in company sales in the industry are
representative of the month-to-month shipments
of the establishments in the industry.


1


-t I


New Orders Received and Unfilled Orders--
Orders as reported in the monthly survey are net


of cancellations during the month.


They include


orders received during the period and also filled
during the period as well as those orders received
for future delivery. They also include the net
sales value of contract change documents which
increase or decrease the sales value of the unfilled


Inventories--End-of-month inventories in the


monthly survey are


identical in definition to the


end-of-year inventories in the ASM.


In the ASM,


respondents are asked to report inventories of
individual establishments at approximate current
cost if feasible; otherwise, "at book values." Since
different methods of inventory valuation are used
(LIFO, FIFO, etc.), the definition oftheaggregate
inventories for establishments in an industry is
not precise. The figures on the change in


inventories


from one period to the next are of


greater significance than the actual aggregates.


Inventories are reported by stage of fabri-
cation: (a) finished goods; (b) work in process;


orders to which they relate.


Orders include only


those supported by binding legal documents such as


signed contracts, or letter contracts.


In case of


letter contracts the full amount of the sales value
is included if the parties are in substantial agree-
ment on the amount; otherwise, only the funds


specific
cluded.


lly


authorized


to be expended are in-


The respondent is instructed to deduct


the sales value of partial or complete cancellation
of existing orders.
Unfilled orders include orders as defined above
that have not yet passed through the sales account.
Generally, unfilled orders at the end of the
reporting period are equal to unfilled orders at
the beginning of the period plus net new orders
received less net sales.


inventories.


materials, st
In using


supplies, fue]
inventories


and other
by stage of


fabrication at the all manufacturing and 2-digit
industry levels as well asforthedurableand non-


While both new orders and unfilled orders are
used in reviewing individual company reports for
consistency, only unfilled orders are estimated


durable goods sectors,


finished


it should be noted that a


product of one industry may be a raw


material for another industry at the next stage of


directly in the tabulated totals.


derived
unfilled


New orders are


from the shipments plus net change in
orders for each industry category. This


fabrication.


Insofar as the durable and nondurable


goods sectors and also the 2-digit industry groups


contain inc
processing,


lustries


successive


stages


the same type of commodity may be


procedure is followed for seasonally adjusted data
as well as for the unadjusted data. Shipments and
unfilled orders are seasonally adjusted independ-


ently.


Seasonally adjusted new orders are derived


included under different inventory categories in
the aggregate statistics.


sea-


from seasonally adjusted shipments
sonally adjusted unfilled orders.


USCctIM-rx3


Current Industrial Reports


Series M3-1