Current industrial reports

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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:
July 1970
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:
AA00008477:00034

Related Items

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

Full Text

CURRE NT


Manufacturers'


REPORTS


A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


Inventories,


and


Orders


July


1970


U.S. DEPARTMENT OF COMMERCE / Bureau of the Census


SERIES:


M3-1(70)-7


FOR RELEASE:


September 1, 1970


New orders for m.
.mereased by 1.7 perc
lioan from $55.6 bil
adjustment. The inc
a tributable primarily
m encations compone
hIdustries. Shipments
ti $56.9 billion. The
d eclined to $83.8 bi
the end of June. Mar
creased $800 million
bLilion at the end o
-shipments ratio remal


! r For the three m


manufactured products in July
:ent or $1.0 billion to $56.6
lion in June, after seasonal


rease


in new orders


was


to the aerospace and com-


at


:s of the defense products
increased by $300 million
backlog of unfilled orders


llion from $84.0 billion at
nufacturers' inventories in-
to $98.5 billion from $97.7
f June. The inventories to
ned unchanged at 1.73.


months


ending with July, the


Slayerage change in new orders represents an
jorease of 2.0 percent compared with a decre
0.3 percent for the three months ending
&and a decrease of 1.8 percent for
"r ^B .months ending with January.


fIEW ORDERS


ase
with
the


New orders for durable goods at $30.7 billion
increased $1.0 billion from June. This 3.3percent


increase revises the preliminary e
6.1 percent increase published earlier.
in the transportation industry inc:


million


to $7.8 billion.


estimate of a
New orders
reased $600


Among the other major


groups recording gains, the electrical machinery
industry increased $400 million and nonelectrical
machinery rose $300 million. New orders for
primary metals declined $100 million to $4.7
bhtion and fabricated metals declined $400 million
to $3.1 billion.


Among


the supplementary


series,


new orders


for defense products increased $1.2 billion to
$3.0 billion. Orders for producers' capital goods
increased $100 million to $6.5 billion while orders


Chart 1 Manufacturers' New Orders (Seasonally Adjusted)
Billions of Dollars*
45
-40
35
Durable Goods


,- 9 o 2 5



02
15


*Semilog. scale
I" v I I" fij. -^ .. ,s .1 s.. 1 1 1 rlI n l. .I 1 In


Chart 2 Manufacturers' Shipments (Seasonally Adjusted)
Billions of Dollars*
_----_--------.----,---- 85
-80
75
70
65
60
Total ~ 55
_^ ^ -50
45
40
35
Durable Goods

-~ so^

_--" "Nondurable Goods 20


15

*Semilog. scale
I,,. Il*.i I ,III *iI li II ,tlI1.1I. ll11h11 i11,hl i


Shipments,


INDUSTRIAL









SHIPMENTS


Chart 3


- Manufacturers' Unfilled Orders (Seasonally Adjusted)


Shipments of
[lion to $31.0


durable
billion


goods


increased


as shipments


durables decreased $100 million to $25.9 billion.


Shipments
$200 mill


i


of transportation equipment increased
n to $7.7 billion. Shipments of non-


electrical machinery also increased $200 million,


billion.


Among


the nondurable


goods


industries, the pattern was mixed with the largest
dollar decline in the foods industry group. (SEE
CHART 2)

UNFILLED ORDERS


Unfilled


billion


were


orders
$300


the end of June.


of durable


million


below


goods


$80.8


the backlog at


This slight decline reverses the


direction of change from the 0.2 percent increase
published in the earlier advance report on durable


goods.


fabricated


metals


industry


declined $200 million to $10.5 billion.


group


,1,I ,I l ii


Goods


Durable











,,I.,,I,,I,


Billions of Dollars*


*Semilog. scale
.1, 1,,I,1 ,1,,


The pattern


was


mixed


industries,


among tn
vith small


other
increases


durable


goods


in electrical


machinery and transportation equipment offset by
declines in primary metals and nonelectrical
machinery. (SEE CHART 3)

INVENTORIES


Inventories


the durable


goods industries


increased $800 million to $65.2 billion at the end


of July
industries


while


those


decreased


in the nondurable


slightly


$33.3


goods
billion.


Most major industry groups in the durable sector
registered increases in inventories with the largest
dollar gain reported by the transportation industry.


In the nondurable sector,
At the all manufacturing


increased


materials


million


1


the pattern was mixed.


level
while


and supplies


increased $200 million.


finished


goods


work- in-process


inventories


each


(SEE CHART 4)


The advance report on durable goods for August
is scheduled for release on September 22 and the
full report is scheduled for release on October 1.


For
report


explanation


terms


see appendix following table 5.


Inquiries


concerning


addressed to the U.S.


Bureau


Washington, D.C.


these


figures


should be


Department of Commerce,


Census,
20233.


Industry


Division,


Chart 4


Total Inventory (Seasonally Adjusted)


-- -~


killf I II kIltII
,------1



















,,1,,tI..,,


Total


Durable Goods


Nondurab


F,, I,,I, I


le Goods


Billions of Dollars*
------ 120
110
100


*Semilog. scale


,,I ..t I II I ,I


ml


''liii


I











INVENTORIES,


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment

Industry group July June May July June July July June May July June July
1970p 1970r 1970 1970p 1970r 1969 1970p 1970r 1970 1970p 1970r 1969


All manufacturing
Total...........


Total,


Durable
Stone,


excluding


goods industries,


Primary metals,
Blast furnaces
All other prim


Fabricated
Metal ca
Machinery,
Engines


industries:


transportation....
total............


and glass products........


..........


steel mills..........
v metals.............


metal products,
ns, barrels, and


except


electrical,


total.....
drums.....


total..


and turbines...............


Farm machinery
Construction, I
handling equi
Metalworking m


General in
Electrical m
Electrical
equipment
Household


Communication
Transportation


and equipment.......


mining,


dustrial machine
achinery, total
transmission a
and industrial


appliances,


and material


ery.......


...,..,pwg......
nd distribution
apparatus.....


including


equipment.......,,,


equipment,


Motor vehicles and


Aircraft,
Instruments


missiles, a
and related


All other durable


Nondurable


goods industrial


Food and kindred


produce


total....


parts.........


nd parts....
products...
industries.
es, total.,,
ts, total..


.... ...

.......
*. ., .. .

*.. .,,.


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


Tobacco prod'
Textile mill
Paper and al
Pulp, pape
Chemicals an
Industrial
Petroleum an
Rubber and p


nets..u......
products.....


products,
tc ........


d allied products,
chemicals, except


. S S ~ S ~ ~ ~ S *


total....
pigments.


d coal products.............


lastics


All other nondurable



All manufacturing


Total,


Durable
Primary


excluding


product
goods


s n.e.c.,....
industries...


industries:


transportation.....

total.............


goods industries,


y metals,


Blast furnaces


Fabricated
Machinery,
Engines


Construct
handling
Metalworki


General in

Electrical m
Electrical
equipment


total.... .,,...........
, steel mills............


metal products,, .........,,. .


except


electrical,


total....


and turbines.........,.........


mining,


and material


equipment........ ....... .....
ng machinery...............


dustrial machine

achinery, total
transmission a
and industrial


Household appliances,


ery .. .. .

....,,...,.,..,
nd distribution
apparatus.....


including


and TV..............................


Communication
Transportation
Aircraft, mis


All other durable


Nondurable g
Industries


equipment..............


equipment,


total .......


es, and parts...,.....
goods industries.....


oods industries,
with unfilled o


total..........
*rders. .,, ..,...


Shipments


25,850


25.948


25,177


52,088
45,873
27,825

1.459


24.263


26,495


23.276


Total inventories


New orders Unfilled orders


3,119
5,449
553

682
307
527

4,078

759

674
1,414

7,755
2,917

5,581

25,878

7.207


I 'JI


26,435


23,196

6.179


10.482


13,445

3,412

548
5,639
28,559
21,880
5,172

2,942
2.942


13,305

3,436

609
5,359
28,499
21,767
5,190

2,916
2,916


84,174
55,591
81,181
6,845
3,400
10,650
16,192
4,785

2,291
1,346
1,574

13,567

3,441

585
5,633
28,583
21,845
5,344

2,993
2.993


13,269

3,483

613
5,284
28,086
21,485
5,298

2,981
2.981


clay,


. ..


radio


goods


lied
r, e


p


Total.............................


on,


radio


sil


GROUP


1












SHIPMENTS, INVENTORIES,


(Millions o# dollars)


Without seasonal Without seasonal
Seasonally adjusted Without seasonal Seasonally adjusted Without seasonal
adjustment- adjustment
Industry group
July June May July June July Jul June May Jul June July
1970" 1970r 1970 1970 1970r 1969 197970 1970 1970 1970r 1969

Shipments Total inventories


All manufacturing industries, total.. 56,866 56,528 55,545 52,088 59,255 50,501 98,505 97,739 97,923 98,051 98,073 92,682

Durable goods industries, total............ 31,016 30,580 30,368 27,825 32,760 27,225 65,193 64,375 64,617 64,870 64,779 61,113
Nondurable goods industries, total......... 25,850 25,948 25,177 24,263 26,495 23,276 33,312 33,364 33,306 33,181 33,294 31,569

Industry groups arranged by market
categories:
Home goods and apparel................... 4,753 4,936 4,593 4,274 4,732 4,500 9,841 9,763 9,867 10,144 10,303 10,035
Consumer staples......................... 10,909 11,214 10,802 10,427 11,464 10,051 12,599 12,619 12,612 12,286 12,273 11,675
Equipment and defense products, except
automotive.............................. 9,370 8,965 9,423 8,615 9,673 8,234 26,590 26,281 26,261 26,482 26,445 24,254
Automotive equipment..................... 4,840 4,775 4,542 3,623 5,346 3,670 5,218 5,059 5,142 4,816 4,848 5,027
Construction materials, supplies, and
intermediate products................... 4,553 4,520 4,441 4,533 5,011 4,381 8,165 8,019 8,016 8,202 8,152 7,866
Other materials and supplies and
intermediate products................... 22,441 22,118 21,744 20,616 23,029 19,665 36,092 35,998 36,025 36,121 36,052 33,825

Supplementary series:2
Household durable goods industries....... 2,036 2,155 2,058 1,784 2,142 1,988 5,088 4,962 5,039 5,193 5,209 5,068
Producers' capital goods industries...... 6,673 6,454 6,653 6,149 6,995 5,709 17,400 17,101 16,966 17,293 17,135 15,526
Defense products industries (old series). 4,223 4,019 4,254 3,865 4,204 3,828 12,831 12,788 12,961 12,846 12,943 12,471
Defense products (new series)e........... 2,074 2,089 1,999 1,892 2,192 1,899 7,154 7,099 7,235 7,166 7,170 7,727

New orders Unfilled orders

All manufacturing industries, total.. 56,600 55,642 54,634 52,372 58,497 51,551 83,752 84,022 84,908 84,174 83,902 89,892

Durable goods industries, total............ 30,722 29,743 29,476 28,099 32,062 28,355 80,810 81,106 81,945 81,181 80,921 86,759
Nondurable goods industries, total......... 25,878 25,899 25,158 24,273 26,435 23,196 2,942 2,916 2,963 2,993 2,981 3,133

Industry groups arranged by market
categories:
Home goods and apparel................... 4,720 4,912 4,512 4,321 4,743 4,6601
Consumer staples....................... 10,906 11,213 10,799 10,422 11,460 10,041 1859 897 1,919 1955 1,913 2338
Equipment and defense products, except
automotive.............................. 9,662 8,328 8,838 9,258 9,398 8,866
Automotive equipment.................... 4,814 4,732 4,340 3,654 5,262 3,676 5,420 45152 45834 45,573 44,901 48343
Construction materials, supplies, and
intermediate products................... 4,342 4,606 4,602 4,325 5,073 4,464 10,360 10,571 10,484 10,588 10,795 10,544
Other materials and supplies and
intermediate products................... 22,156 21,851 21,543 20,392 22,561 19,844 26,113 26,402 26,671 26,058 26,293 28,667

Supplementary series :
Household durable goods industries....... 2,011 2,142 1,995 1,845 2,168 2,162 1,528 1,555 1,566 1,612 1,552 1,950
Producers' capital goods industries...... 6,465 6,354 6,211 6,057 6,861 6,000 23,817 24,028 24,129 23,944 24,044 24,339
Defense products industries (old series). 4,604 3,318 4,003 4,553 3,843 4,042 27,959 27,577 28,279 27,922 27,235 31,587
Defense products (new series)*........... 2,970 1,738 1,853 3,010 2,034 2,447 19,870 18,974 19,326 19,855 18,738 21,935


"During 1968


figures


manufacturers in ordnance,


on shipments,


included in these
reporters, the da
new orders adjust


orders,


new defense


communications


and total inventories


series.


ta have been seasonally


ed


for trading-day


Since there are


adjusted


aircraft and aircraft


of work performed


to historic
the factors
variations;


using


and calendar-month


parts,


for the Departr


data available


and shipbuilding
-nt of Defense.


to develop


of these industries.


unfilled


orders


separate


industries began to provide aggregate


The results
seasonal f


PPre 1 iminary.


and inventories


rR


of these reports


actors
evised.


as of end of month.


for these
1Shipments
2The supple-


mentary


series


are regroupings


of the separate


industry


categories


as follows:


Household


durable


appliances;


goods


ophthalmic


industries
goods, wa


t


- Household furniture;
ches, and clocks; and


kitchen


articles


miscellaneous


and pottery;


personal


cutlery,


handtools,


and hardware;


household


goods.


Producers' c
equipment
components


capital


goods (former


and machine


shops),


shipbuilding


'ly machinery
electrical m


and repairing,


a


and equipment)


achinery (e
nd railroad


industries


excluding ho
and street


useho


- Machinery, e
Id appliances,


xcept


electrical


communication


(excluding farm machinery
equipment and electronic


car equipment.


Defense prod
aircraft,
industries


ucts


industries


aircraft


parts,


and omits defense


(old series)
and ordnance


- Based


on reports


industries.


work performed


in the


for coam


(Thus, this
shipbuilding


s


panies classified
series includes si
industry.)


in the communication


gnificant


amounts


equipment,


of nondefense


complete
work in these


Defense


products


industries:


(new ser


ordnance,


in that it includes


aircraft,


and aircraft


ies) Based on
communications,


defense


parts


activity
. The da


i separate
complete


reports o
aircraft,


in ship building and
ta are comparable to


n defense
aircraft


excludes


work filed by large


parts,


nondefense


those published annually


defense


and ship building.


contractors


Thus,


work in ordnance,


in the MA-175,


it differs


:ommunications,
Shipments of


in the following


from the old
complete


series


Defense-Oriented


Industries, for the specified











Table 3.--MANUFACTURERS'


(Based


on seasonally


adjusted


Item and industry


Shipments:
All manufacturing
Durable goods indus
Nondurable goods in
Total inventories:
All manufacturing
New orders:
All manufacturing


Durable
Nondurab


Unfilled
Durable


t
d


group


industries.........
ries, total........
ustries. total.....


inaustries........


industries......


goods industries, to
'le goods industries,


orders:
goods industries,


tal .....
total..


total...


Month-to-month


+0.6


+2.4


+1.5


-1.1


Average


monthly


3 months


April-
July 1970


+1.6


+0.7


Jan. -


April


1970


-0.5


+0.6


-1.1


rates of change


months


40.2


+0.6


-0.6


-1.1


+0.4


-0.3


Average,


Average
rise


+0.7


1964-69


Average
decline


-1.1


-0.1


-0.6


Table 4.--RATIO


OF MANUFACTURERS'


INVENTORIES


TO SHIPMENTS


AND UNFILLED


ORDERS


TO SHIPMENTS


BY INDUSTRY


(Based


on seasonally


adjusted


Ine e st Unfilled orders shipments ratio1
Inventories shipments ratio (months, backlog)
(months' backlog)
Industry group
Jul June May July July June May July
1970 1970r 1970 1969 1970' 1970r 1970 1969


All manufacturing industries, total.................. 1.73 1.73 1.76 1.68 2.40 2.43 2.48 2.64
Durable goods industries, total............................ 2.10 2.11 2.13 2.01 2.91 2.95 2.98 3.20
Stone, clay, and glass products............... .......... 1.83 1.73 1.74 1.77 (NA) (NA) (NA) (NA)
PrWmary metals....... ........ ...................... 1.77 1.75 1.79 1.63 1.42 1.43 1.48 1.56
Fabricated metals........................................ 2.01 2.03 2.09 2.07 3.44 3.60 3.65 3.64
Machinery, except electrical............................ 2.51 2.55 2.47 2.38 2.92 3.03 2.99 3.13
Electrical machinery......................... ....... .... 2.45 2.40 2.46 2.30 3.41 3.37 3.51 3.38
Transportation equipment................................. 2.00 2.03 2.05 1.91 5.74 5.77 5.64 6.82
Instruments and related products......................... 2.38 2.24 2.35 2.19 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.29 1.29 1.32 1.28 0.41 0.42 0.43 0.45
Food and kindred products............................... 0.89 0.86 0.90 0.90 (x) (x) (x) (X)
Tobacco products.. ................ .......... .... ,.... 4.69 5.18 4.68 5.25 (X) (X) (X) (X)
Textile mill products.................................... 1.87 1.94 1.98 1.96 (NA) (NA) (NA) (NA)
Paper and allied products................................ 1.11 1.18 1.16 1.07 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.63 1.64 1.64 1.55 (X) (X) (X) (X)
Petroleum and coal products. ............... ......... 1.12 1.13 1.12 1.02 (X) (X) (X) (X)
Rubber and plastics products, n.e.c........................ 1.18 1.25 1.30 1.33 (x) (X) (X) (X)
,__________________________________ _____ _____ _____ ------------------------------


(NA) Not
tExcludes


available.
the following


PPreliminary.
industries wi


rRevised.
th no unfilled


(X)
orders:


Not applicable.


Wooden


containers;


glass containers;


metal


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


GROUP


,


n.e.c.












BY STAGE OF FABRICATION,


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
adjustment -adjustment
Industry group
July JuneT May Jul June July July June May Jul June July
1970P 1970 1970 1970 1970 1969 1970 1970 1970 1970 1970 1969

Total Materials and supplies

All manufacturing industries, total.. 98,505 97,739 97,923 98,051 98,073 92,682 29,557 29,395 29,417 29,312 29,136 28,558
Durable goods industries, total............ 65,193 64,375 64,617 64,870 64,779 61,113 17,664 17,479 17,480 17,524 17,364 16,993
Stone, clay, and glass products.......... 2,631 2,557 2,575 2,636 2,607 2,468 841 808 816 840 815 791
Primary metals........................... 8,621 8,608 8,649 8,544 8,491 7,729 3,036 3,063 3,055 3,024 2,968 2,749
Machinery (electrical and nonelectrical). 23,612 23,246 23,170 23,526 23,516 21,516 5,637 5,620 5,570 5,718 5,645 5,216
Transportation equipment................ 15,386 15,163 15,359 15,026 15,019 14,773 3,154 3,039 3,078 2,864 2,936 3,129
All other durable goods industries...... 14,943 14,801 14,864 15,138 15,146 14,627 4,996 4,949 4,961 5,078 5,000 5,108

Nondurable goods industries, total......... 33,312 33,364 33,306 33,181 33,294 31,569 11,893 11,916 11,937 11,788 11,772 11,565
Chemicals and allied products............ 6,943 6,893 6,826 6,937 6,872 6,383 2,287 2,277 2,266 2,304 2,282 2,218
Petroleum and coal products.............. 2,389 2,437 2,403 2,401 2,413 2,088 541 546 542 551 559 477
Rubber and plastics products, n.e.c...... 1,917 1,914 1,926 1,891 1,916 1,826 596 607 607 612 610 593
All other nondurable goods industries.... 22,063 22,120 22,151 21,952 22,093 21,272 8,469 8,486 8,522 8,321 8,321 8,277

Work in process Finished goods

All manufacturing industries, total.. 35,443 35,245 35,443 35,399 35,332 33,623 33,505 33,099 33,063 33,340 33,605 30,501
Durable goods industries, total............ 30,498 30,243 30,418 30,391 30,281 28,618 17,031 16,653 16,719 16,955 17,134 15,502
Stone, clay, and glass products.......... 389 374 382 393 387 395 1,401 1,375 1,377 1,403 1,405 1,282
Primary metals........................... 2,905 2,921 2,943 2,882 2,881 2,665 2,680 2,624 2,651 2,638 2,642 2,315
Machinery (electrical and nonelectrical). 11,088 11,005 10,979 10,984 11,008 10,262 6,887 6,621 6,621 6,824 6,863 6,038
Transportation equipment................. 10,712 10,620 10,773 10,664 10,572 10,188 1,520 1,504 1,508 1,498 1,511 1,456
All other durable goods industries....... 5,404 5,323 5,341 5,468 5,433 5,108 4,543 4,529 4,562 4,592 4,713 4,411
Nondurable goods industries, total......... 4,945 5,002 5,025 5,008 5,051 5,005 16,474 16,446 16,344 16,385 16,471 14,999
Chemicals and allied products............ 892 893 901 892 890 944 3,764 3,723 3,659 3,741 3,700 3,221
Petroleum and coal products.............. 514 538 530 526 546 493 1,334 1,353 1,331 1,324 1,308 1,118
Rubber and plastics products, n.e.c...... 322 314 306 318 311 315 999 993 1,013 961 995 918
All other nondurable goods industries.... 3,217 3,257 3,288 3,272 3,304 3,253 10,377 10,377 10,341 10,359 10,468 9,742

Preliminary.
rRevised.


GROUP









Appendix


The following is a description of the survey and


definitions used.


meaning


represent any


These are provided to


of the


items


clarify


involved and do not


revisions from those definitions


previously employed.

DESCRIPTION OF THE SURVEY


EXPLANATION OF TERMS

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


reported


ASM


which


are received


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


charges and excise taxes.


Included in shipments


The Manufacturers'


Shipments,


Inventories,


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 310,000estab-


lishments.


In 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 not provide


I


i 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 reportingpanel
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.


reporting
operations


unit typically


comprises


e


The
entire


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.


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. Inthe 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-di
industry


[git


industries


group


level.


Since


the M3-1


categories typically are groupings of
3, 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 andmotor
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




UNIVERSITY OF FLORIDA

II 1 111 1 i i IIIII II II I ll11
3 1262 08589 4284


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


reports,


it is assumed that the month-to-month


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


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 "atbook 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


The figures


on the change


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;


-. *1


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
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 authorized to be expended are in-
cluded. 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.


and (c


materials,


supplies,


and other


inventories. In using inventories by stage of
fabrication at the all manufacturing and 2-digit
industry levels as well as for the durable and non-
durable goods sectors, it should be noted that a
finished product of one industry may be a raw
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


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


directly in the tabulated totals.


derived


New orders are


from the shipments plus net change in


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.


ently.


Seasonally adjusted new orders are derived


from seasonally adjusted shipments
sonally adjusted unfilled orders.


sea-


USCcMM-DO


Current Industrial Reports Series M3-3.


I


I


q


.