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:
December 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:
AA00008477:00039

Related Items

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

Full Text

CURRENT


INDUSTRIAL


Manufacturers


REPORTS


Shipments,


Inventories,


and


Decemb


Orders

er 1970


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


FOR RELEASE:


February 2, 1971


SERIES:


M3-I(70)-12


N ew orders for manufaq
December at $55.8 billion inc
l-5 billion from $54.3 b:
afte seasonal adjustment. S
1.31 billion or 2.4 percent to
*51flflioi in November. Th
rders increased $400 million
te eind of December. Manufa
eased $300 million to
";. -billion at the end o
entaories to shipments ratioc
o g 1.85 in November.

: por. the three months endi
Ie: average change in new or
1 idraease of 0.2 percent compa
of .l percent for the three
Sgipember and an increase of
three months ending with June.


ctured


products


greasedd 2.7 percent
million in November,
hipments increased
$55.4 billion from
e backlog of unfilled
to $82.4 billion at
cturers' inventories
$99.7 billion from
f November. The
decreased to 1.80


ing with December,
ders represents an
red with a decrease
months ending with
0.9 percent for the


Chart 1 Manufacturers' New Orders (Seasonally Adjusted)
Billions of Dollars*


NEW ORDERS
SNew orders for durable goods at $30.0 billion
increased 3.6 percent or $1.0 billion from $29.0
billion in November. New orders for transporta-
tion equipment increased $700 million to $7.0
billion as an increase of $1.2 billion in the auto-
motive industry, reflecting the much largerDecem-
ber shipments, was partially offset by decreases
in the aerospace and shipbuilding industries. New
orders for primary metals increased $300 million


to $4.9 billion. New orders for the machinery
industries decreased $100 million as a decrease
min nonelectrical machinery was partially offset by
an increase in the electrical group.
Among the supplementary series, new orders
for defense products remained virtually unchanged
at $2.0 billion. The decline of $800 million in new
orders for producers' capital goods to $6.1 billion


was importantly influenced by a sizeable drop in
the shipbuilding component. New orders for
houseihndi dlii-rmht~ inrrQ->-,a.^

I a


A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


\~ ~r'







Chart 3


SHIPMENTS
Shipments of durable goods increased $900
million or 3.1 percent to $29.7 billion in December.
Shipments of transportation equipment increased
$900 million as a large increase in the automotive
industry was partially offset by a decline in the
aerospace group. Shipments of primary metals
increased $100 million to $4.6 billion in December
while shipments in the machinery industries
decreased $300 million to $9.1 billion. (See
Chart 2)

UNFILLED ORDERS

Unfilled orders for durable goods increased $300
million to $79.2 billion as increases intheprimary
metals and electrical machinery industries were
partially offset by a decline in the transportation
industry. (See Chart 3)


INVENTORIES


- Manufacturers' Unfilled Orders (Seasonally Adjusted)
Billions of DolIars*
-110
100
9Q
80
S" Durable Goods
70

-60

50


40


1967 1968 1969


Inventories in the durable goods industries de-
creased $200 million to $65.7 billion and those in


the nondurable goods i


industriess decreased $100


million to $34.0 billion. At the all manufacturing
level, finished goods inventories and materials and
supplies increased slightly while work in process
decreased $400 million. (See Chart 4)

The figures on the durable goods industries in
this report supersede those issued earlier in the
advance report on durable goods. The advance


report
and is
orders


is based on a tabulation of early reports


limited
and u


to statistics


unfilled


industries categories.


orders


on shipments,


new


for a few broad


The present report is based


on more complete reporting, but the estimates are


considered preliminary.


appear as historical da
published for next month.


Final figures will


in the


report


to be


The advance report on


durable goods for January is scheduled for release


on February 22, 1971 and
scheduled for release on March


the full
3.


report


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


Inquiries
addressed to
Bureau of th


ington, D.C.


concerning these figures should be
the U.S. Department of Commerce,


te Census,
20233.


Industry Division,


Wash-


Chart 4


- Total Inventory (Seasonally Adjusted).
_ B millions o f D o llars*



10

it00


wl.










OF MANUFACTURERS'


(Millions


of dollars)


Industry


All manufacturing


Total,


goods i
clay,
y metal


excluding


ndustriesj


rmary
rirmary


group


industries:


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


and glass products........

cs total.................
ces, steel mills.........


Blast furna
All other p


Fabricated


Metal cans, barrels,


Machinery,
Engines


Fatn machinery
Construction,
handling equi
Metalworking m


General in
Electrical m
Electrical
equipment
Household


except


total.....


and drums.....


electrical,


total.


and equipment.......


mining,


and material


pment'... i................
achinery .................


good


produ


luding


radio


and TV.................................
Communication equipment................
Transportation equlpient, total...........
Motor vehicles and parts................


Aircraft,
Instruments


All other durable


Food and kindred


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


Textile mill


and allied


paper,


Chemicals an
Industrial
Petroleum an
Rubber and p


and parts...........
d products..........
s industries........
les, total,..........
cts, total..........


* S ~ S


products,


etc........


total...
pigments


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


plastics


p


All other nondurable



All manufacturing


Sj n.e.c....
industries..


industries:


Total,.,.... .................* a......


Total,


goods


metals,


Blast furnaces


Construction,


handling


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


total........a
:. steel mills


metal products.............


except


electrical,


total...


and material


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


mining,


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


Ibtalworkingtmacbinery................


General in

Electrical m
Electrical
equipment
Household


luding


and TV,,.........................
Communication equipment.........
Transportation equipment, total...
Aircraft, missiles, and parts...


All other durable


good


radio
. S.S e.t*


s industries


Seasonally


I -


adjusted


54,011
46,830
29,421


464

708
270
523

3,954

744

730
1,380
6,062
2,255
5,585

25,686


Without


adjustment1


Shipments


1.592


total.......... 25


54,068
47,804
28,815
1,454
4,452


25,253


1.421


24.561


25,328


23.847


29.740


Seasonally


adjusted


100,032
84,841
65,920
2.688


12.904


Without


adjustment


81,350
53,663
78,243
6,128
3,098
10,896


27,687
20,404
4,978

3,107


seasonal


Durable
Stone,
Primary


seasonal


metal products,


Total inventories


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


dustrial
achinery,
transmit
and indu
appliance


machinery...........
total..-...........
sion and distribution
Lstrial apparatus.....


s, inc


missiles,
and relate


Nondurable


goods industry


Tobacco


products..........


Paper


products.....


25,567


d allied products,
chemicals, except


product
goods


Durable g
Primary


excluding
industries


New orders Unfilled orders


Fabricated
Machinery,
Engines


dustrial

achinery,
transmis
and indu
appliance


machinery............

total...............
slon and distribution
istrlal apparatus.....


s, inc


Nondurable g


goods industries,


GROUP


,











Table 2.--VALUE


OF MANUFACTURERS'


SHIPMENTS~,


INVENTORIES,


(Millions


AND ORDERS,
o0 dollars)


FOR MARKET


CATEGORIES


AND SUPPLEMENTARY


SERIES


Seasonally adjusted Without seasonal ajseWithout seasonal
Seasonally adjusted ,,. Seasonally adjusted- .
adjustment' adjustment
Industry group -i-
Dec. Nov. Oct. Dec. Nov. Dec. Dec. Nov. Oct. Dec. Nov. Dec.
1970' 1970r 1970 1970p 1970r 1969 1970p 1970r 1970 1970p 1970r 1969

Shipments Total inventories


All manufacturing industries, total.. 55,370 54,068 54,936 53,696 53,996 53,996 99,698 100,032 99,466 99,208 99,252 95,475

Durable goods industries, total............ 29,697 28,815 29,369 29,135 28,668 30,149 65,713 65,920 65,628 65,245 65,355 63,106
Nondurable goods industries, total......... 25,673 25,253 25,567 24,561 25,328 23,847 33,985 34,112 33,838 33,963 33,897 32,369

Industry groups arranged by market
categories:
Home goods and apparel................... 4,838 4,632 4,716 4,285 4,698 4,084 10,057 10,142 10,158 9,696 9,681 9,562
Consumer staples......................... 11,220 11,023 11,220 11,016 11,133 10,696 12,720 12,783 12,679 13,002 13,023 12,381
Equipment and defense products, except
automotive.............................. 8,542 9,125 9,373 8,938 9,013 9,682 26,502 26,404 26,439 26,259 26,253 25,639
Automotive equipment..................... 4,482 3,410 3,453 4,361 3,574 4,395 5,294 5,244 5,194 5,294 5,305 5,304
Construction materials, supplies, and
intermediate products.................. 4,822 4,635 4,595 4,387 4,513 4,152 8,221 8,447 8,306 8,103 8,210 7,870
Other materials and supplies and
intermediate products................... 21,466 21,243 21,579 20,709 21,065 20,987 36,904 37,012 36,690 36,854 36,780 34,719

Supplementary series:2
Household durable goods industries....... 2,180 2,051 2,085 2,027 2,106 1,934 5,177 5,185 5,195 5,048 5,011 4,965
Producers' capital goods industries...... 6,197 6,567 6,423 6,291 6,513 6,393 17,824 17,719 17,659 17,668 17,606 16,223
Defense products industries (old series). 4,008 4,230 4,524 4,375 4,279 4,905 12,248 12,341 12,429 12,129 12,300 13,049
Defense products (new series)*........... 2,018 2,036 2,184 2,206 2,062 2,474 6,486 6,675 6,803 6,417 6,661 7,386

New orders Unfilled orders

All manufacturing industries, total.. 55,776 54,291 54,190 54,011 53,611 53,549 82,419 82,014 81,797 81,661 81,350 88,412

Durable goods industries, total............ 30,044 29,009 28,504 29,421 28,245 29,740 79,231 78,883 78,693 78,523 78,243 85,445
Nondurable goods industries, total........ 25,732 25,282 25,686 24,590 25,366 23,809 3,188 3,131 3,104 3,138 3,107 2,967

Industry groups arranged by market
categories:
Home goods and apparel................... 4,899 4,650 4,651 4,297 4,634 4,046 1,903 1,841 1,818 1,835 1824 1,939
Consumer staples......................... 11,219 11,031 11,238 11,013 11,144 10,694
Equipment and defense products, except
automotive.............................. 8,759 9,349 9,180 9,020 8,648 9,635 93
Automotive equipment..................... 4,539 3,286 3,422 4,411 3,564 4,342 44629 44501 48,193
Construction materials, supplies, and
intermediate products.................... 4,811 4,672 4,753 4,255 4,462 4,071 11,030 11,041 11,003 10,641 10,774 10,378
Other materials and supplies and
intermediate products................... 21,549 21,303 20,946 21,015 21,159 20,761 24,824 24,744 24,685 24,556 24,251 27,902

Supplementary series:2
Household durable goods industries....... 2,236 2,074 2,015 2,045 2,041 1,897 1,533 1,476 1,455 1,468 1,449 1,563
Producers' capital goods industries...... 6,087 6,873 6,552 6,095 6,589 6,536 23,809 23,915 23,611 23,655 23,854 24,794
Defense products industries (old series). 4,185 4,077 3,954 4,412 3,692 4,360 26,477 26,302 26,456 26,447 26,410 30,203
Defense products (new series )*........... 2,019 2,016 2,125 2,095 1,731 2,019 19,476 19,475 19,496 19,484 19,595 20,362


1968 manufacturers in ordnance, communications,


figures on
included i
reporters,
new orders


shipments,
n these new


orders,
Defense


and total inventories
series. Since there a


r


us


and calendar-mon


adjusted


for trading-day


aircraft and aircraft


parts,


of work performed for the Depa
e no historical data available
ing the factors of these indus
th variations: unfilled orders


and ship building industries began to provide aggregate


rtu-nt


of Defense.


to develop
tries.


separate


The results
seasonal f


PPreliminary.


and inventories


rR


of these reports


actors
revised.


as of end of month.


for these
'Shipments
The supple-


mentary


series


are regroupings


of the separate


industry


Categories


as follows:


Household


durable


goods


ophthalmic


industries
goods, wa


- Household


tches,


furniture;


and clocks;


kitchen


articles


and miscellaneous


and pottery;


cutlery,


handtools,


goods.


Producers
equipment


capital


goods (formerly


and machine


shops),


machinery


electrical


and equipment)


machinery


(excluding


househo


- Machinery, e
ld appliances,


except


electrical


cotinunication


excludingg
equipment an


farm machinery


d electronic


and


components),


ship building


and repairing,


and railroad


and street


car equipment.


products


aircraft,
industries


parts,


and omits defense


(old series)
and ordnance


- Based


industries.


work performed


for companies
this series


classifi
includes


in the communication


significant


amounts


equipment,


of nondefense


products


(new ser


ordnance.


in that it includes


aircraft,


and aircraft


defense


parts


activity in
* The data


Separate
complete


reports o
aircraft,


ship building and
are comparable to


n defense
aircraft


excludes


work filed by large
parts, and ship bui
nondefense work in


those published


annually


defense


Iding.


Thus,


ordnance,


in the MA-175,


it differs


in the following


from the old series
complete
Defense-Oriented


Industries, for the specified


the data have been seasonally adjusted


appliances;


Defense


industries


aircraft


personal


industries


Defense


industries:


and hardware;


on reports


(Thus,


ies) Based on
communications,


household


in the ship building


industry.)


complete
work in these


contractors


communicationss,
Shipments of











Table 3.--MANUFACURERS'S


(Based


on seasonally


adjusted


Item and Industry


Shipments:
All manufacturing


Durable


goods


Nondurable


group


Industries...


industries


goods industrie


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


total........
s, total.....


industries.........


t
d


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


tries,


Month-to-month


+2.4


1970


-2.7


Average


monthly


3 months


-0.6


+0.4


-0.7


rates of change


12 months


+0.3


+0.8


+0.2


-0.9


Average,


Average
rise


1964-69


Average
decline


-1.2


-0.5


Table 4.--RATIO


OF MANUFACTURERS'


fliVENTORIE S


TO SHIPMENTS


AND UNFILLED


ORDERS


TO SHIPMENTS,


BY INDUSTRY


(Based


on seasonally


adjusted


e e ht ri Unfilled orders shipments ratiot
Inventories shipments ratio
(months' backlog)
Industry group
Dec. Nov. Oct. Dec. Dec. Nov.. Oct. Dec.
1970 1970r 1970 1969 1970p 1970 1970 1969


All manufacturing Industries, total.................. 1.80 1.85 1.81 1.72 2.43 2.42 2.38 2.59
iDurable goods industries, total............................ 2.21 2.29 2.23 2.07 2.95 2.92 2.87 3.11
Stone, clay, and glass products... .............. .... 1.66 1.85 1.83 1.65 (NA) (NA) (NA) (NA)
Primary metals..,, ..........,,,,,,,,,............. 1.94 2.02 1.93 1.60 1.50 1.05 1.41 1.52
Fabricated metals.....,................................ 2.09 2.13 2.14 2.03 3.72 3.70 3.77 3.61
Machinery, except electrical...,,...,,................... 2.83 2.65 2.61 2.49 3.15 2.97 2.91 3.25
Electrical machinery..................................... 2.38 2.41 2.44 2.52 3.23 3.19 3.22 3.60
Transportation equipment................................. 2.12 2.43 2.32 2.02 5.59 5.54 5.31 5.87
Instruments and related products............,.......... 2.53 2.44 2.39 2.12 (NA) (NA) (NA) (NA)
Nonduirable goods industries, total......................... 1.32 1.35 1.32 1.29 0.45 0.46 0.45 0.42
Food and kindred products................................ 0.88 0.89 0.87 0.85 (X) (X) (x) (X)
Tobacco products........................................ 4.40 4.90 4.57 5.06 (X) (X) (X) (X)
Textile mill products................................... 1.82 1.94 1.95 2.04 (NA) (NA) (NA) (NA)
Paper and allied products.............................. 1.19 1.18 1.16 1.16 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.74 1.76 1.75 1.61 (X) (X) (X) (X)
Petroleum and coal products.............................. 1.1 1.18 1.13 1.05 X) (X (X) 3X)
Rubber and plastics products, n.e.c,......*.............. 1.42 1.37 1.34 1.38 () () () ()


(MA) Not available.
Excludes the following


vehicle


assembly


operations;


PPreliminary.


industries


with


foods and related


rRevised.
no unfilled


products;


(x) No
orders : W
tobacco;


t applicable.


wooden


apparel


containers;


and related


glass containers;


products;


metal


cbemicals;


barrels


petroleum


and drums;


motor


and coal products;


rubber and plastics products, n.e.c.


GROUP


+0.3










OF MANUFACTURERS' INVENTORIES, BY


(Millions


of dollars)


Without seasonal Without 'seasonal
Seasonally adjusted adjusent Seasonally adjusted ut sen
adjustment "adjustment
Industry group --
Dec Nov Oct. Dec Nov Dec. Dec Nov Oct. Dec. Nov. Dec.
1970p 1970r 1970 1970' 1970 1969 1970" 1970 1970 1970' 1970r 1969

Total Materials and supplies

All manufacturing industries, total.. 99,698 100,032 99,466 99,208 99,252 95,475 30,173 30,127 29,825 30,459 30,142 29,690
Durable goods industries, total............ 65,713 65,92065,628 65,245 65,355 63,106 17,822 17,867 17,708 17,945 17,908 17,711
Stone, clay, and glass products.......... 2,636 2,688 2,684 2,592 2,574 2,431 853 862 857 865 859 806
Primary metals......................... 8,897 8,983 8,866 9,131 9,061 8,244 3,189 3,190 3,162 3,386 3,331 3,004
Machinery (electrical and nonelectrical). 23,807 23,777 23,784 23,541 23,508 22,335 5,610 5,640 5,584 5,593 5,571 5,549
Transportation equipment........ ......... 15,181 15,191 15,162 15,075 15,251 15,486 3,160 3,208 3,099 3,151 3,230 3,288
All other durable goods industries....... 15,192 15,281 15,132 14,906 14,961 14,610 5,010 4,967 5,006 4,950 4,917 5,064
Nondurable goods industries, total......... 33,985 34,112 33,838 33,963 33,897 32,369 12,351 12,260 12,117 12,514 12,234 11,979
Chemicals and allied products............ 7,162 7,154 7,069 7,167 7,017 6,635 2,391 2,355 2,307 2,404 2,333 2,292
Petroleum and coal products.............. 2,549 2,555 2,461 2,556 2,581 2,262 600 574 559 588 571 496
Rubber and plastics products, n.e.c...... 1,982 1,959 1,949 1,977 1,956 1,882 609 635 601 599 634 589
All other nondurable goods industries.... 22,292 22,444 22,359 22,263 22,343 21,590 8,751 8,696 8,650 8,923 8,696 8,602

Work in process Finished goods

All manufacturing industries, total.. 35,102 35,524 35,462 34,678 35,329 34,462 34,423 34,381 34,179 34,071 33,781 31,323
Durable goods industries, total............ 30,259 30,551 30,522 29,917 30,415 29,471 17,632 17,502 17,398 17,383 17,032 15,924
Stone, clay, and glass products.......... 392 401 406 369 370 378 1,391 1,425 1,421 1,358 1,345 1,247
Primary metals........................... 2,993 3,036 2,975 3,031 3,039 2,793 2,715 2,757 2,729 2,714 2,691 2,447
Machinery (electrical and nonelectrical). 10,978 11,107 11,139 10,833 11,035 10,598 7,219 7,030 7,061 7,115 6,902 6,188
Transportation equipment................. 10,534 10,492 10,595 10,454 10,541 10,645 1,487 1,491 1,468 1,470 1,480 1,553
All other durable goods industries....... 5,362 5,515 5,407 5,230 5,430 5,057 4,820 4,799 4,719 4,726 4,614 4,489
Nondurable goods industries, total......... 4,843 4,973 4,940 4,761 4,914 4,991 16,791 16,879 16,781 16,688 16,749 15,399
Chemicals and allied products............ 868 889 865 874 877 965 3,903 3,910 3,897 3,889 3,807 3,378
Petroleum and coal products.............. 547 547 525 533 537 523 1,402 1,434 1,377 1,435 1,473 1,243
Rubber and plastics products, n.e.c...... 312 311 306 311 311 316 1,061 1,013 1,042 1,067 1,011 977
All other nondurable goods industries.... 3,116 3,226 3,244 3,043 3,189 3,187 10,425 10,522 10,465 10,297 10,458 9,801

PPreliminary.
Revised.








Appendix


The following is a description of the survey and
definitions used. These are provided to clarify
the meaning of the items involved and do not
represent any revisions from those definitions
previously employed.

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 ex-
penditures, and inventories as well as other
selected items. The establishments do not provide
information on 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 ap-
proximately 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 the 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 by using a link relative of matched
companies in each industry.


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 or
receivable net selling values, f.o.b. plant, after
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 workperformed 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 SIC group level. Since the M3-1 in-
dustry 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







8
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 the industry -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, "atbookvalues. Since
different methods of inventory valuation are used
(LIFO, FIFO, etc.), the definition of the aggregate
inventories for establishments inm an industry is
not precise. The figures on the change in in-


ventories


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;
and (c) materials, supplies, fuel, and other


inventories.


In using


inventories


by stage of


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


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


fabrication.


Insofar as the durable and nondurable


goods sectors and also the 2-digit industry groups


contain


industries


successive


stages


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


UNIVERSITY OF FLORIDA

1111 III 11 162n 94l42l115
3 1262 08589 4425


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 utin-
filled 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
agreement on the amount; otherwise, only the funds
specifically authorized to be expended are inm-


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 re-
porting period are equal to unfilled orders at the


beginning


of the period


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
directly in the tabulated totals. New orders are


derived


from the shipments plus net change in


unfilled orders for each industry category. This
procedure is followed for seasonally adjusteddata
as well as for the unadjusted data. Shipments and
unfilled orders are seasonally adjusted independ-
eptly. Seasonally adjusted new orders are derived
from seasonally adjusted shipments and sea-
sonally adjusted unfilled orders.


Th