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:
November 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:
AA00008477:00026

Related Items

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

Full Text

r?3


Chart 1-


NEW ORDERS


Manufacturers' New Orders


(Seasonally Adjusted)
Billions of Dollars*


New orders


$2.1
$54.8


billion


for manufactured


in September


billion in August after


the Bureau


of the Census,


Commerce, announced


billion


today.


:o $56.9
seasonal


products


billion from
adjustment,


U.S. Department


Durable


goods


rose


to $32.2 billion from $30.5 billion in


August, and nondurable goods rose $400 million
to $24.7 billion from $24.3 billion in August. Within


the durable goods


although
decline.


steel


electrical
Significar


mills


engines a
machinery


sector, increases were widespread


machinery
it increase,


component of
Turbines a


industries.


registered
s occurred


primary


mong


a small
in the


metals and in


the nonelectrical


Transportation


equipment


registered an increase of $300 million with declines


in aircraft more than offset by increased


the other segments of the transportation


orders


sector.


1965 1966 1967 1968 1969


Among the supplemental


series


orders for the


machinery and equipment industries rose $1.1 billion
from $6.2 billion in August to $7.3 billion, primarily


because
turbines
durables


of the


sizeable


and shipbuilding


increased


whereas defense products
(SEE CHART 1)


increase
equipmei


to $2.1 billion


in engines and
nt. Consumer
in September


showed virtually no change.


SHIPMENTS


Manufacturers'


$1.2 bill
August.


on


shipments


in September


rose


to $56.4 billion from $55.2 billion in


Nondurable goods increased $400 million


and durable goods $8
across all industry


chinery and textiles.


the largest


increases


00 million.


Increases occurred


groups except electrical ma-


In the durable goods


sector,


occurred in the metals and


nonelectrical machinery industries. (SEE CHART


Chart 2- M


manufacturers'


Shipments


(Seasonally Adjusted)
Billions of Dollars*


1966 1967 1968


1











UNFILLED ORDERS


Unfilled orders for durable goods rose $500mil-
lion to $86.5 billion in September from $86.0 billion


Chart 3-Manufacturers


Unfilled Orders (Seasonally Adiusted)
Billions of Dollars*


in August.


Increases in backlogs occurred in most


industries with significant rises occurring in pri-
mary metals and nonelectrical machinery. Declines
in backlog occurred in electrical machinery and the
aerospace component of the transportation industry.
The unfilled orders to shipments ratio for durable
goods industries overall declined to 3.08 in Sep-
tember from 3.15 in August since in most industries,


increase
orders.


s in shipments exceeded those for unfilled
(SEE CHART 3)


INVENTORIES


Total


inventories


held by all manufacturers at


the end of September increased nearly $500 million


to $94.2
August.
sectors


billion


from


the durable


registered


increases


billion


at the end of


111.11* III


It' liii


Durable








.I1,,I,,II


I hull


emilog. scale
II 1 1..l1 ii


and nondurable goods


which


were


spread


rather evenly across industry groups. Increases
occurred in all stages of fabrication although the
largest increase of $300million occurred in work-in-
process inventories. As a result of the overall


greater


increase


in shipments


than in total


ventories, the inventories to shipments ratio declined


September


from


August.


(SEE CHART 4)




The figures on the durable goods industries in


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.
The present report is based on more complete


reporting,


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


addressed to the U.S. Department of Commerce,
Bureau of the Census, Industry Division, Washington,
tN\ fli nfl nfl n


Chart 4- Total Inventory


(Seasonally Adjusted)


Billions of Dollars*


I Ii ~ I,.


-
- --


Total


Durable Goods


-- ~. --


L_-----'


Nondurable Goods


- -


*Semilog. scale

1 1L .J I I.i 1


hI1,. IIl. i l..lh I l II


. --V '-S S VI -


I











Table 1.--VALUE OF MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS, BY INDUSTRY GROUP


(Mililons


of dollars)


Without seasonal Without seasonal
Seasonally adjusted Wtu sent1 Seasonally adjusted adjutant
adjustment
Industry group
Sept Aug July Sept Aug. Sept. Sept Aug. July Sept. Aug. Sept.
1969' 1969 1969r 1969p 1969r 1968 1969p 1969r 1969 1969P 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.......


* ~ 44
* 4~~~


* .
* *4*
.....
.....


Electrical machinery, total...............
Electrical transmission and distribution
equipment and industrial apparatus.....
Household appliances, including radio
and TV,. .. *. 4.


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,
Food and kindred products,
heat products...........
Tobacco products..........
Textile mill products.....
Paper and allied products,
Pulp, paper, etc........


total.
total.


......


* 4 *


total.


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 nmachinery..................
General industrial machinery. ...........
Electrical machinery, total...............
Electrical transmission and distribution
equipment and industrial apparatus.....
Household appliances, including radio


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


* 4 4

.9..,..
*.....


Shipments


56,406
48,155
31,707
1,497


1,204
3,007

24,699


56,887
48,961
32,194


55,239
47,119
30,868
1,414
4,739
2,176
2,563
3,036
281
5,504
591
451

646
324
510
3,863

727

789
1,119
8,120
4,665
2,764


57,969
49,866
32,154
1,613
4,903
2,244
2,659
3,330
334
5,644
641
454

684
339
522
4,072

764

883
1.090


25,815


53,401
47,099
28,745
1,531


52,950
45,883
28,404
1,449


24,546


Total inventories


93,166
78,012
61,441
2,463
7,800
4,185
3,615
6,407
684


New orders Unfilled orders


53,001
46,983
28,420


85,984


10,231


13,276

3,400

674
5,299
33,121
25,771
5,854


13,357

3,371

687
5,383
32,890
25,398
5,870


86,435


10,345


13,282


5,924


81,318


9,127


I it *.~t4-4 I )A *4 I I>h I I liii' I I I rLI:)t~ I


*


E












INVENTORIES, AND ORDERS, FOR MARKET CATEGORIES AND SUPPLEMENTARY SERIES


millionss of dollars)
Without seasonal Without seasonal
Seasonally adjusted Wh a1Seasonally adjusted
adjustment adjustment
Industry group ---
Sept. Aug. July Sept. Aug. Sept. Sept. Aug July Sept. Aug. Sept.
1969F 1969r' 1969r 1969p 1969r 1968 1969P 1969' 1969 1969P 19693 1968

Shipments Total inventories

All zanufacturirs industries, totat.. .,406 55,239 55,392 57,969 -3,401 52,950 94,209 93,728 93,166 93,411 93,262 86,409
Durable goods industrie, tal ........... 31,707 30,868 30,605 32,154 28, 745 28,404 62,006 61,724 61,441 61,612 61,541 56,141
Nondurable goods industries, total ...... 2, ,6)9 24.,371 24,787 25,815 24,656 24,546 32,203 32,004 31,725 31,799 31,721 30,268
Industry groups arrarfed by arm:et
categories:
Home goods and apparel................... 4,600 ,646 ,017 ,160 ',124 ,O4 9,920 q,832 9,732 9,705 9,850 9,003
Consuer staples...................,,.... 10, s8 10,477 10,508 11,247 10,508 10,546 12,156 12,145 12,001 12,071 11,954 11,639
LquIUVmflt $12 uefen:c Cfloduct: exce;t
automxtive.............................. 9,209 < 1;7 8,960 9,287 8,687 8,323 24,935 24,600 24,349 24,645 24,453 21,725
Automotive equipment..................... ,4. ,213 z,102 >,303 3,542 4,601 ,077 ,368 ,449 5,246 5,329 5,368
Ccnstruction materials, surp-lie., aM
intermedia:te pou ................... ,626 ,399 4,404 ,84 ,689 4,457 7,842 7,783 7,832 7,721 7,744 6,863
Other material; and QupLieC a:id
Intermediate produQc ................... 21,863 11,242 .1,401 2.,118 20,851 19,983 34,279 34,000 33,803 34,023 33,932 31,811
Supplementary series:
Con-uner durable good indtrie........ 2,14 ,141 ,280 2,391 2,272 ,219 ,115 ,055 4,961 ,990 5,054 4,528
chery and equipt industries. .... b,745 6,457 6,198 c,7:>l 6,045 :,94 1>,756 15,662 15,621 15,646 15,575 13,772
Defense products industries (old series). '., 0.3 -?.,143 -,182 .,118 3,993 3,907 12,914 12,621 12,454 12,760 12,595 11,269
Defense r roducts (new series ........... 2,049 2,141 2,077 ,081 2,063 1,917 7,807 7,690 7,713 7,715 7,669 7,201

New orders Unfilled orders

All manufact'urz .idusTrie, total.. '6,8' -,799 U,793 -,510 '3,001 t3,605 89,496 39,014 89,456 90,030 89,493 84,358
Durable goods industries, total............. 32,194 J0,482 1,069 32, 729 28.20 29,052 86,470 85,984 86,369 87,005 86,435 81,318
Nondurable good; industries, total......... 2*,,693 24,317 24,724 2<,781 24,581 24, '53 3,026 3,030 3,087 3,025 3,058 3,040
I:idu-trn groups arrange ? tar'e:
categories:
Hoe goods and apparel................. 466 ^47 -, 072122 021 0
Hoeg dstapl............. ,0 ,09 2,09% 2,117 2,223 2,181 2,228 2,245
Conser staples.......................... 10, 1 10,470 10,.99 11,237 10,02 10,54
Equ'pmcnt and defense roduc<, exc-nt
^Jzt 720_ 19 ^^ ^; ... 4-- L'- 880 -,_' .^ 4< *-** ^^? -
automotive............................. 3- 720 ,19: 9,64 -,- 45 8880 ,8044 7, 27 1,, 4 9
8- ,4 *7 8173 48,852 48,248 46,669
Automtive equlpmeut..................... ,4.6 ,310 ,039 :-,333 3,586 .,83 '
K"o,'+trucio ma~t-erm i> sur;plice> a:n>
in:rmetate proQdu "",91 .". 49 ,-9 .,930 4,639 -,54 10,661 10,373 10,312 10,620 10,495 9,465
Other material; a13 yzrpUlie and
i_ ermediatt vrodu ................... .21,76 21,293 1, 509 21,974 20,708 19,735 2S,693 28,797 28,748 28,377 28,522 25,979
Supplementary series:
Consumer durable goode indu Lries........ 2,130 ,036 ,346 :,3:2 2,190 2,240 1,726 1,742 1,846 1,827 1,866 1,791
Machinery and equipment industries.....,- 7,326 0,245 6,346 7,164 :,991 ,780 24,562 23,982 24,193 24,696 24,285 21,409
Defense products industries (old series). 3,352 3,773 4,047 4,140 3,743 4,388 30,s68 31,264 31,634 31,360 31,339 33,416
D>tenee products (new series ) ..- ........ 1,444 1,4-.M 2,380 1,949 1,46'- 2,437 20,682 21,288 21,964 21,205 21,337 21,909


Ifring


1968 manufacturers in ordnance


, communications, aircraft


and aircraft parts, and shipbuilding industries began to provide aggregate


figures on shipments, orders, and total inventories of


in these new def ense series.
has been seasonally adjusted


work performed for Department of Defense.


Since there is no historic data available to develop


1Preliminary.


The results of these reports are included


separate seasonal factors for these reporters, the data


rRevised


'Shipments and new orders adjusted


for trading-day and calendar month variation; unfilled orders and inventories as of end of month.
regroupings of the separate industry categories as follows:


-The supplementary series are


durable goods industries -


Machinery ard equipment industries


Household furniture; kitchen articles and pottery; cutlery, handtools, and hardware;
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


Defense


produce U;


* .4. -
ThUdS tT}O5


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,


of nondefense work in
industry.)


(Thus, this series includes significant amounts


these industries and omits defense work performed in the shipbuilding


(new series) Based on separate reports on defense work filed by large defense contractors in the following
industries: ordnance, communications, complete aircraft, aircraft parts, and shipbuilding.


differs


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.


The data are


comparable to those published annually in the MA-175, Shipments of Defense-Oriented Industries, for
the specified industries.


"onsumer


Uht factors of these industries.


Defense


products


aircraft parts, and ordnance industries.


Thus, it











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

(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 Aug.- July- June- Average Average
Sept. Aug. Julyr rise decline Junme- March- Sept. 1965-
>ept. Sept. &p. 196-
_________________________________________________________________________1969 1969 Sept. 1969

Shipments:
All manufacturing industries......... +2.1 -0.3 +1.1 +1.4 -1.1 -1.0 +1.0 -0.8
Durable goods industries, total.......... +2.7 +0.9 +1.6 +2.1 -2.0 +1.7 +1.2 +1.1
Nondurable goods industries, total....... +1.3 -1.7 +0.6 +1.0 -0.5 +0.1 +0.8 0.4
Total inventories:
All manufacturing industries........... +0.5 +0.6 +1.0 +0.7 -0.2 +0.7 +0.7 +0.7
New orders:
All manufacturing industries........... +3.8 -1.8 +3.6 +1.8 -1.6 +1.9 +1,1 +0.8
Durable goods industries, total.......... +5.6 -1.9 +6.5 +3.2 -2.4 +3.4 +1.4 +1.1
Nondurable goods industries, total....... +1.5 -1.6 +0.1 +1.1 -0.6 0.0 +0.8 +0.4
Unfilled orders:
Durable goods industries, total.......... +0.6 -0.4 +0.5 +1.2 -0.7 +0.2 +0.3 0.6


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

(Based on seasonally adjusted data)
tre sp. rUnfilled orders shipments ratio1
Inventories shipments ratio ,
(months' backlog)
Industry group ----
Sept. Aug. July Sept. Sept Aug. July Sept.
1969P 1969r 1969r 1968 1969 1969r 1969 1968

All manufacturing industries, total.................. 1.67 1.70 1.68 1.69 2.57 2.62 2.64 2.67
Durable goods industries, total........................... 1.96 2.00 2.01 2.02 3.08 3.15 3.20 3.24
Stone, clay, and glass products.......................... 1.65 1.73 1.77 1.51 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.60 1.67 1.63 1.89 1.62 1.63 1.56 1.43
Fabricated metals................................. 2.00 2.10 2.07 2.14 3.58 3.71 3. 64 3. 4
Machinery, except electrical............................. 2.22 2.29 2.38 2.21 2.95 3.00 3.13 2.84
Electrical machinery..................................... 2,39 2.35 2.30 2.40 3.36 3.40 3.38 3.65
Transportation equipment................................. 1.83 1.87 1.91 1.92 6.23 6.46 6.S2 7.06
Instruments and related products................ ....... 1.99 2.04 2.19 2.07 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.30 1.31 1.28 1.31 0.45 0.43 0.45 0.48
Food and kindred products................................ 0,89 0.90 0.90 0.95 (X) (X) (X) (X)
Tobacco products......................................... 5.06 5.21 5.25 5.40 (X) (X) (X) (X)
Textile mill products.......'........................... 2.10 2.01 1.96 1.88 (NA) (NA) (NA) (NA)
Paper and allied products................................ 1.13 1.11 1.07 1.10 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.57 1.57 1.55 1.43 (X) (X) (X) (X)
Petroleum and coal products.............................. 0.99 1.00 1.02 1.11 (X) (X) (X) (X)
Rubber and plastics products, n.e.c...................... 1.33 1.39 1.33 1.42 (X) (X) (X) (X)


(NA) Not available. PPreliminary. rRevised. (X


Not applicable.


-Excludes the following industries with no unfilled orders: 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;
rubber and plastics products, n.e.c.


and










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

(Millions of dollars)


relirninary.










Appendix


The following is a description of the survey and


definitions used.


me meaning
represent ai


These are provided to


of the items in
v revisions from


clarify


volved and do not
those definitions


EXPLANATION OF TERMS

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


previously employed.

DESCRIPTION OF THE SURVEY


reported


ASM


which


are received


receivable net selling values, f.o.b. plant, after
discounts and allowances and excluding freight


charges and excise taxes.


The Manufacturers'


Shipments,


Inventories,


Included in shipments


are the value of all products sold,


transferred


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-


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


lishments.


the ASM,


each


manufacturing


establishment provides data on employment, pay-


rolls,


shipments,


expenditures,
selected items
information or


cost


of materials,


capital


and inventories as well as other
. The establishments do notprovide


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.


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


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
operations


unit typically


comprises


the entire


a company although many of the


larger diversified companies file separate divi-
sional type reports for their operations indifferent
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 by using a


link relative of matched


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 comoanv to another as ifthev were


1


w




UNIVERSITY OF FLORIDA

lllII 1311 ff111 111t11111 0II I
8 3 1262 08589 4300


definition


of shipments


in the monthly reports


differs from that used in the annual establishment


reports,
changes


it is assumed that the month-to-month


inm company


sales


in the industry are


representative of the month-to-month shipments
of the establishments in the industry.


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.


respondents


In the ASM,


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 of the aggregate
inventories for establishments in an industry is


not precise.


inventories


figures


from


on the change


one period to the next are of


greater significance than the actual aggregates.


Inventories


cation:
and (c)


inventories.


are reported


(a) finished goods;


materials


In using


by stage of fabri-
(b) work in process;


and other
y stage of


, supplies,


inventories


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


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


specifically
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.


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


product of one


it should be noted that a
industry may be a raw


directly in the tabulated totals.


derived


New orders are


from the shipments plus net change in


material for another industry at the next stage of


fabrication.


Insofar as the durable and nondurable


goods sectors and also the 2-digit industry groups


contain


industries


successive


stages


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


processing, the same type of commodity may be
included under different inventory categories in
the aggregate statistics.


Usccn4-~J


ently.
from


Seasonally adjusted new orders are derived
seasonally adjusted shipments and sea-


sonally adjusted unfilled orders.


Current Industrial Reports Series M3-1