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 1971
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:
AA00008477:00046

Related Items

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

Full Text
Cf


CURRENT


A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


INDUSTRIAL


Manufacturers'


Inventories,


REPORTS


Shipments,


Orders


July


1971


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


FOR RELEASE:


August 31, 1971


SERIES:


M3-1(71)-7


SUMMARY


Chart 1 Manufacturers' New Orders (Seasonally Adjusted)


New orders
$58.0 billion
from $57.Qb '
Shipments0d
$58.2 billion
orders decree
the end of Ju
creased $200
of July. The in
creased from 1.7


For the


cts in July at
.7 percent
^adjustment.
Percent to
Unfilled
billion at
stories de-
n at the end
cents ratio in-


3 months ending in July,


average


change in new orders represents a 0.8 percent
increase compared with a 0.4 percent decrease for
the 3 months ending in April and a 3.3 percent
increase for the 3 months ending in January.


NEW ORDERS


Billions of Dollars*


1967 1968 1969 1970 1971


Chart 2 Manufacturers' Shipments (Seasonally Adjusted)


New orders for durable goods at $31.7 billion
increased $1.0 billion or 3.3 percent over June.
Transportation equipment increased $500 million to
$7.6 billion, with the rise about equally divided


between


the motor vehicles and parts and aero-


space industries. Machinery (electrical and non-
electrical) increased $300 million to $9.8 billion.
Among the supplementary series, new orders for
defense products increased $500 million to $2.2
billion.


The data. for


June and prior months in


this report are based on a revision of the
monthly M3 series on shipments and orders,
therefore, the June figuresare revised levels
of those published previously. The monthly
series has been benchmarked to the Annual
Survey of Manufactures for the years 1966
to 1969 and new seasonal factors calculated.


The
1971,


revised
the n


figures for
ew seasonal


1966 through May


factors


and other


analytic materials have been published in a [


Billions of Dollars*


and










SHIPMENTS


Chart 3


- Manufacturers' Unfilled Orders (Seasonally Adjusted)


Shipments


of durable


creased $200 million,


goods


decreased


million to $31.9 billion at the end of July. The
aerospace industries decreased $700millionto $1.9
billion following June's large increase and primary


metals dropped by $100 million.


Motor vehicles


and parts increased $200 million to $4.9 billion.
Shipments of nondurable goods showed no ap-
preciable change at a level of $26.3 billion.

UNFILLED ORDERS


Unfilled orders for durable goods declined $200
llion to $74.6 billion at the end of July as an
)0 million decrease in primary metals was


partially
million)


offset by increases in machinery ($300
and transportation equipment ($200


million).


INVENTORIES

Inventories in both the durable and nondurable
goods industries decreased $100 million to $64.7
billion and $35.6 billion respectively. The drop in
durables was entirely due to steel mill stocks'
$400 million decline which was largely offset by
rises in other durable industries. At the all


manufacturing


level,


materials


and supplies in-


work in process decreased


$100 million, and finished goods decreased $200
million from June.

SCHEDULED RELEASE DATES

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


advance
report


report


on durable goods.


The advance


is based on a tabulation of early reports


and is limited


to statistics


orders, and unfilled
industry 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 August is scheduled for release
on September 22, 1971 and the full report is
scheduled for release on October 1.


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


Inquiries
addressed to


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


Billions of Dollars*



-1110
-100
-90
-80

-70

60

- 50
I*

$og Scale 40


Chart 4 Total Inventory Seasonally Adjusted)


- --- -


Total


Durable Goods


N---nd
Nondi


Billions of Dollars*


Ir


ural G-od

uirable Goods


idustries




----


3*~~~-~~


Industries





*Semi log Scale


mil
$80


*


I











OF MANUFACTURERS '


(Millions


of dollars)


Industry


All manufacturing


Total,


Durable
Stone,


excluding


group


industries:


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


goods industries,


Primary metal
Blast furna


and glass products...........

,s, total m..... ...............
tces, steel mills.............


All other primary metals................


Fabricated metal


products,


Metal cans, barrels,


Machinery,


except


Engines and tu:
Farm machinery
Construction,


and


total..........
drums... ....
ilj total.......


electric


rbines...... .... .......
and equipment............


mining,


and material


handling equipment.....,,.............
Metalworking machinery..................


General


industrial


Electrical machinery,


Electrical
equipment
Household


transmis
and indu
appliance


Communication
Transportation


Motor


vehicles


Aircraft,
Instruments
All other di
Nondurable go'


machinery........... .
total...............
sion and distribution
strial apparatus.....


s,


including


radio


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


equipment,


and parts......... .......


missiles, and parts...........
and related products..........


durable


goods industries........


ods industries,


Food and kindred


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


products,


Meat products...........................
Tobacco products......... ................
Textile mill products.....................
Paper and allied products, total..........


Pulp, paper,


Chemicals an'
Industrial
Petroleum an'
Rubber and p


d allied products,
chemicals, except


total......
pigments...


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


plastics


All other nondurable



All manufacturing


Total,


Durable g
Primary


excluding


products,


n.e.c......


goods industries.....



Industries:


transportation.....


oods industries,


metals,


Blast furnaces


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


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


Machinery,
Engines
Construct


except electrical, total.......
and turbines...... ............


tion,


mining,


and material


handling equipment...................,
Metalworking machinery.............,,


General


Electrical
Electric
equipme
Household


industrial

machinery,
al transmis
nt and indu
d appliance


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

total........... ...
;sion and distribution
Mistrial apparatus.....


?s, inc


luding


radio


and TV ............. ............ .... ....
Communication equipment.................


Transportation


Aircraft,


mis


All other durable


Nondurable


equipment,
siles, and


total...........
parts...........


goods industries........


goods industries,


Seasonally


adjusted


Without seasonal
adjustment


Shipments


58,156
50,724
31,857

1,798
5,294
2,952
2,342
3,461
352
4,951
283
483

770
376
396

4,469

921

926
1,213
7,432
4,856
1,925
1,043
3,409

26,299
8,697
1,912
491
(2)

2,215
909
4,376
1,474
2,360
1,648
6,512


53,589
47,684
28,593
1,770
4,907
2,787
2,120
3,249
387
4,498
233
406

740
330
378

4,077

841

886
1,115
5,905
3,551
1,752
946
3,241
24,996
8,422
1,908
506
(2)
2,071
858
4,104
1,378
2,342
1,512
6,039


Seasonally


adjusted


Without


seasonal


adjustment


Total inventories


62,142
53,485
34,949

1,905
5,810
3,000
2,810
3,800
395
5,383
398
505

901
388
451
4,759

967

1,096
1,358
8,657
5,298
2,612
1,034
3,601
27,193
8,961
1,943
533
(2)
2,300
960
4,549
1,488
2,382
1,690
6,778


100,536
86,868
64,825

2,280
9,170
4,815
4,355
7,410
753
13,854
942
1,137

2,689


51,154
45,242
27,203

1,481
4,345
2,105
2,240

3,345
374
4,347
243
306

760
295
402
3,919

795

857
1,074
5,912
3,108
2,079
936
2,918
23,951
7,930
1,995
474
(2)
1,980
839
3,812
1,246
2,181
1,424
6 150


100,647
86,612
65,079
2,269
9,236
4,985
4,251
7,283
717


100,358
86,574
64,743
2,296
8,860
4,464
4,396
7,575
844
13,823
943
1,136

2,697
1,194
1,167

9,893

2,201

1,959
2,932
13,784
4,229
7,418
2,331
6,181
35,615
8,841
850
2,139
(2)
2,761
1,034
6,804
1,899
2,402
2,158
10,510


99,996
86,546
64,536
2,316
8,764
4,375
4,389
7,715
903
13,771
938
1,109

2,664
1,192
1,169

9,955

2,218

1,989
2,920
13,450
3,886
7,428
2,368
6,197
35,460
8,600
817
1,996
(2)
2,801
1,043
6,799
1,880
2,404
2,125
10,735


100,734
87,330
65,046
2,327
9,072
4,709
4,363
7,596
827
13,891
919
1,133

2,694
1,187
1,187
10,181

2,236

2,017
3,008
13,404
4,019
7,359
2,408
6,167

35,688
8,631
837
2,103
(2)
2,779
1,029
6,791
1,876
2,372
2,128
10,884


New orders Unfilled orders


57,009
49,944
30,666
4,536
1,945
3,462
5,122
375

893
388
402

4,333

844

908
1,264
7,065
1,968
6,148

26,343


I I


57,028
50,070
30,601
4,800
2,079
3,532

4,809
398

767
322
416

4,409

947

1,050
1,223
6,958
1,623
6,093

26,427


53,914
47,382
28,917
3,99(
1,828
3,185
4,486
221

75C
35
36;

4,65<

91<

91(
1,48;
6,53;
2,420
6,07(

24,99


60,001
52,196

32,805
4,619
1,932
3,693
5,430
421

943
395
439

4,693

941

1,082
1,314
7,805
1,882
6,565

27,196


51,508
45,021

27,573
4,109
1,978
3,200
4,220
310

730
251
373

4,171

713

822
1,440
6,487
2,563
5,386

23,935


77,592
53,130

74,5668
5,255
2,412
10,958
14,322
4,915

2,405
1,056
1,237

14,335

3,927

606
5,961
24,462
17,687
5,234

3,026


77,775
53,478

74,748
6,049
3,235
10,909
14,385
4,967

2,348
1,052
1,260

13,925

3,814

616
5,732
24,297
17,369
5,183

3,027


79,749
54,505

76,727
6,917
4,040
10,995
14,277
4,948

2,267
1,041
1,275

14,069

3,861

694
5,778
25,244
18,044
5,225

3,022


77,613
53,092
74,533
5,066
2,263
10,901
14,310
4,886

2,412
1,073
1,233

14,397

3,966

679
5,853
24,521
17,782
5,338

3,080


77,294
53,400
74,211

5,982
3,222
10,966
14,324
4,897

2,402
1,052
1,248

13,820

3,892

655
5,486
23,894
17,113
5,225

3,083


9,973

2,220

1,937
2,960
13,668
4,289
7,347
2,358
6,112
35,711
8,966
854
2,180
(2)
2,731
1,019
6,808
1,905
2,402
2,131
10,493


13,837
938
1,122

2,636
1,199
1,170
9,930

2,224

1,897
2,981
14,035
4,193
7,860
2,379
6,110
35,568
8,894
833
2,190
(2)
2,738
1,022
6,799
1,885
2,375
2,131
10,441


98,803
84,662
64,501
2,231
8,781
4,677
4,104
6,911
711
13,793
910
1,144

2,544
1,253
1,168
10,261

2,096

1,980
3,227
14,141
3,626
8,665
2,467
5,916
34,302

8,158
802
2,018
(2)
2,752
1,011
6,494
1,908
2,296
2,085
10,499


I













Table 2.--VALUE


OF MANUFACTURERS


SHIPMENTS,


INVENTORIES
(Millions


, AND ORDERS,
of dollars)


FOR MARKET


CATEGORIES


AND SUPPLEMENTARY SERIES


Seasonally adjusted Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
adjustment- adjustment
Industry group
July June May July June July July June May July June July
1971 1971r 1971 1971p 1971 1970 1971 1971r 1971 1971p 1971r 1970

Shipments Total inventories


All manufacturing industries, total.. 58,156 58,988 58,352 53,589 62,142 51,154 100,358 100,536 100,647 99,996 100,734 98,803

Durable goods industries, total............ 31,857 32,650 31,850 28,593 34,949 27,203 64,743 64,825 65,790 64,536 65,046 64,501
Nondurable goods industries, total......... 26,299 26,338 26,502 24,996 27,193 23,951 35,615 35,711 35,568 35,460 35,688 34,302

Industry groups arranged by market
categories:
Home goods and apparel................... 5,254 5,437 5,583 4,902 5,573 4,918 10,652 10,628 10,561 10,888 11,095 10,500
Consumer staples......................... 11,219 11,286 11,274 10,818 11,545 10,213 13,678 13,774 13,723 13,377 13,444 12,805
Equipment and defense products, except
automotive.............................. 8,370 9,134 8,555 7,675 9,581 7,713 25,473 25,371 25,808 25,437 25,506 26,431
Automotive equipment..................... 5,435 5,226 5,136 4,103 5,933 3,786 5,384 5,428 5,322 5,008 5,144 4,755
Construction materials, supplies, and
intermediate products................... 5,252 5,171 5,116 5,172 5,637 4,449 8,074 8,025 7,973 8,135 8,133 7,722
Other materials and supplies and
intermediate products................... 22,626 22,734 22,688 20,919 23,873 20,075 37,097 37,310 37,260 37,151 37,412 36,590

Supplementary series:2
Household durable goods industries....... 2,271 2,407 2,396 2,042 2,509 1,938 4,935 4,895 4,850 5,005 5,029 4,870
Producers'capital goods industries....... 6,354 6,396 6,203 5,786 6,851 5,591 17,528 17,507 17,440 17,549 17,602 17,114
Defense products industries (old series). 3,543 4,338 3,820 3,260 4,392 3,557 11,303 11,273 11,805 11,289 11,345 12,886
Defense products (new series)*........... 2,015 2,589 2,006 1,839 2,594 1,878 5,502 5,507 6,067 5,508 5,533 7,148

New orders Unfilled orders

All manufacturing industries, total.. 57,977 57,009 57,028 53,914 60,001 51,508 77,592 77,775 79,749 77,613 77,294 83,105

Durable goods industries, total............ 31,676 30,666 30,601 28,917 32,805 27,573 74,566 74,748 76,727 74,533 74,211 80,230
Nondurable goods industries, total........ 26,301 26,343 26,427 24,997 27,196 23,935 3,026 3,027 3,022 3,080 3,083 2,875

Industry groups arranged by market
categories:
Home goods and apparel................... 5,316 5,365 5,682 5,054 5,582 4,934
Consumer staples......................... 11,225 11,266 11,273 10,821 11,531 10.203 2113 2048 2140 2230 2076 2064
Equipment and defense products, except
automotive.............................. 8,796 8,298 8,037 8,494 8,976 8,394 42987 42,525 43,401 42,911 42,019 44,983
Automotive equipment..................... 5,472 5,184 5,234 4,176 5,865 3,810
Construction materials, supplies, and
intermediate products................... 5,416 5,077 5,066 5,223 5,567 4,241 10,593 10,430 10,522 10,609 10,559 10,204
Other materials and supplies and
intermediate products................... 21,752 21,819 21,736 20,146 22,480 19,926 21,899 22,772 23,686 21,863 22,640 25,854

Supplementary series:2
Household durable goods industries....... 2,337 2,338 2,483 2,201 2,523 1,969 1,737 1,672 1,740 1,850 1,691 1,714
Producers'capital goods industries....... 6,244 6,237 6,193 5,761 6,830 5,432 22,917 23,028 23,186 22,986 23,012 23,147
Defense products industries (old series). 4,098 3,628 3,233 4,268 3,644 4,374 24,342 23,787 24,497 24,306 23,298 27,878
Defense products (new series)............ 2,187 1,678 1,573 2,377 1,655 3,045 18,383 18,211 19,122 18,394 17,856 19,906


1968 manufacturers in ordnance,


on shipments,


orders,


communications,


and total inventories


airc raft


and aircr


of work performed for


'aft parts,
the Departr


and ship building industries began to provide aggregate


of Defense.


The results


of these reports


included in these


reporters,
new orders


mentary


new defense


series


the data have been season


adjusted


series


for trading-day


are regroupings


- Since there are n
ally adjusted using
and calendar-month


of the separate


industry


o historical
the factors
variations;
categories


data available


to develop


of these industries.


unfilled


orders


separate


seasonal


Preliminary.


and inventories


factors
Revised,


as of end of month.


for these
'Shipments
The supple-


as follows:


Household dur
appliances;


a


ble goods
ophthalmic


industries
goods, wa


t


- Household furniture;
ches, and clocks; and


kitchen


articles


miscellaneous


and pottery;


goods.


Producers'capital


equipment
ponents),


goods (formerly


and machine
shipbuilding


shops),


machinery


and equipment)


electrical machinery


and repairing,


and railroad


industries


(excluding
and street


- Machinery,


household


except


electrical


Cian,,uflication


(excluding
equipment a


farm machinery
nd electronic c


car equipment.


Defense


aircraft,
industries


aircraft


industries


parts,


and omits defense


(old series)
and ordnance


- Based on
industries.


work performed


reports
(Thus,


for companies
this series


in the ship building


classifi
includes


sig


in the communication
nificant amounts of


equipment,
nondefense


complete
work in these


industry.)


Defense


(new series)


- Based


on


ordnance. communications,


in that it includes


defense


parts


activity in
. The data


separate
complete


reports o
aircraft,


ship building
are comparable


n defense
aircraft


and excludes


parts,


nonde tense


to those published


annually


defense


and ship building.


in the MA-175,


contractors


Thus,


it differs


:ommTunicaltions,
Shipments of


in the following


from the old series
complete
Defense-Oriented


Industries, for the specified


figures


products


personal


cutlery,


products


handtools,


industries:


appliances,


and hardware;


aircraft,


household


and aircraft


work filed by large


work in ordnance,


ment











Table 3.--MANUFACTURERS


(Based


on seasonally


adjusted


Month-to-month 1971 Average monthly rates of change Average, 1965-1970


Item and industry group 3 months 12 months
June. May- April- Average Average
July June May April- Jan.- Oct. 1970- July 1970- rise decline
July 1971 April 1971 Jan. 1971 July 1971


Shipments:
All manufacturing industries........... -1.4 +1.1 +1.2 +0.3 +1.2 +1.5 +0.4 +1.1 .1.2
Durable goods industries, total.......... -2.4 +2.5 +1.7 +0.6 +1.3 +2.4 +0.5 +1.8 .1.8
Nondurable goods industries, total....... -0.1 -0.6 +0.5 -0.1 +1.1 +0,6 +0.4 +1.0 .0.6
Total inventories:
All manufacturing industries........... -0.2 -0.1 +0.2 0.0 -0.2 +0.2 +0.1 +0.7 -0.3
New orders:
All manufacturing industries........... +1.7 0.0 +0.8 +0.8 -0.4 +3.3 +0.4 +1.9 -1.4
Durable goods industries, total.......... +3.3 +0.2 +1.2 +1.6 .1.5 +5.8 +0.5 +3.2 -2.3
Nondurable goods industries, total....... -0.2 .0.3 +0.2 -0.3 +1.0 +0.5 +0.3 +1.0 -0.6
Unfilled orders:
Durable goods industries, total.......... -0.2 _2.6 -1.6 -1.5 .0.4 +1.0 -0.6 +1.1 -0.7












Table 4.--VALUE OF MANUFACTURERS' INVENTORIES, BY STAGE OF FABRICATION, BY INDUSTRY GROUP

(Millions of dollars)

Without seasonal Without seasonal
Seasonally adjusted ds t Seasonally adjusted adjustment
adjustment adjustment
Industry group
July June May July June July July June May July June July
1971 1971r 1971 1971 1971" 1970 1971 1971r 1971 1971 1971r 1970

Total Materials and supplies

All manufacturing industries, total.. 100,358100,536 100,647 99,996 100,734 98,803 32,925 32,754 32,488 32,746 32,483 31,009
Durable goods industries, total............ 64,743 64,825 65,079 64,536 65,046 64,501 20,008 19,696 19,570 19,968 19,603 18,601
Stone, clay, and glass products.......... 2,296 2,280 2,269 2,316 2,327 2,231 756 757 758 759 757 715
Primary metals.......................... 8,860 9,170 9,236 8,764 9,072 8,781 3,434 3,420 3,330 3,415 3,342 3,182
Machinery (electrical and nonelectrical). 23,716 23,827 23,767 23,726 24,072 24,054 6,524 6,490 6,495 6,617 6,536 6,389
Transportation equipment................. 13,784 13,668 14,035 13,450 13,404 14,141 3,167 3,151 3,285 2,922 3,037 2,892
All other durable goods industries....... 16,087 15,880 15,772 16,280 16,171 15,294 6,127 5,878 5,702 6,255 5,931 -5,423
Nondurable goods industries, total......... 35,615 35,711 35,568 35,460 35,688 34,302 12,917 13,058 12,918 12,778 12,880 12,408
Chemicals and allied products............ 6,804 6,808 6,799 6,799 6,791 6,494 2,367 2,386 2,374 2,378 2,372 2,268
Petroleum and coal products.............. 2,402 2,402 2,375 2,404 2,372 2,296 573 559 541 573 564 545
Rubber and plastics products, n.e.c...... 2,158 2,131 2,131 2,125 2,128 2,085 615 648 698 631 656 717
All other nondurable goods industries.... 24,251 24,370 24,263 24,132 24,397 23,427 9,362 9,465 9,305 9,196 9,288 8,878

Work in process Finished goods

All manufacturing industries, total.. 33,341 33,472 33,702 33,318 33,433 34,844 34,092 34,310 34,457 33,932 34,818 32,950
Durable goods industries, total............ 28,183 28,329 28,547 28,104 28,242 29,626 16,552 16,800 16,962 16,464 17,201 16,274
Stone, clay, and glass products.......... 306 301 303 307 308 306 1,234 1,222 1,208 1,250 1,262 1,210
Primary metals........................... 2,975 3,068 3,126 2,943 3,034 3,056 2,451 2,682 2,780 2,406 2,696 2,543
Machinery (electrical and nonelectrical). 10,651 10,758 10,678 10,585 10,750 11,226 6,541 6,579 6,594 6,524 6,786 6,439
Transportation equipment.................. 9,226 9,112 9,333 9,181 8,974 9,784 1,391 1,405 1,417 1,347 1,393 1,465
All other durable goods industries....... 5,025 5,090 5,107 5,088 5,176 5,254 4,935 4,912 4,963 4,937 5,064 4,617
Nondurable goods industries, total......... 5,158 5,143 5,155 5,214 5,191 5,218 17,540 17,510 17,495 17,468 17,617 16,676
Chemicals and allied products............ 915 923 926 912 913 851 3,522 3,499 3,499 3,509 3,506 3,375
Petroleum and coal products.............. 453 460 456 462 470 441 1,376 1,383 1,378 1,369 1,338 1,310
Rubber and plastics products, n.e.c...... 331 341 330 327 337 336 1,212 1,142 1,103 1,167 1,135 1,032
All other nondurable goods industries.... 3,459 3,419 3,443 3,513 3,471 3,590 11,430 11,486 11,515 11,423 11,638 10,959

Preliminary.
Revised.
Revised.












Chart 5 Ratio of Manufacturers'


Inventories to Shipments


Ratio Scale


-3.60
3.50
3.40
3.30
3.20
3.10
3.00
2.90
2.80
2.70
-2.60
-2.50
-2.40
-2.30
-2.20
-2.10

-2.00
-1.90


1967


1968 1969 1970 1971


Table 5.--RATIO


OF MANUFACTURERS'


INVENTORIES


TO SHIPMENTS


AND UNFILLED


ORDERS


TO SHIPMENTS,


BY INDUSTRY


(Based


on seasonally


adjusted


e sht r Unfilled orders shipments ratio'
Inventories shipments ratio %
(months' backlog)
Industry group
July June May July July June May July
1971 1971 1971 1970 19711 1971 1971 1970
All manufacturing industries, total................. 1.73 1.70 1.72 1.79 2.22 2.16 2.26 2.46
Durable goods industries, total........................... 2*03 1.99 2.04 2.14 2.66 2.58 2.72 2.97
Stone, clay, and glass products.......................... 1.28 1.29 1.32 1.47 (NA) (NA) (NA) (NA)
Primary metals.................................. ......... 1.67 1.70 1.68 1.86 0.99 1.12 1.26 1.47
Fabricated metals.............................,,......... 2.19 2.09 2.03 1.90 3.52 3.41 3.36 3.32
Machinery, except electrical............................. 2.79 2.76 2.85 2.90 2.89 2.87 2.94 3.13
Electrical machinery..................................... 2.21 2.23 2.21 2.37 3.21 3.11 3.13 3.45
Transportation equipment................................. 1.85 1.71 1.90 2.02 5.83 4.99 5.92 6.09
Instruments and related products......................... 2.23 2.40 2.36 2.35 (NA) (NA) (NA) (tA)
Nondurable goods industries, total......................... 1.35 1.36 1.34 1.37 0.44 0.43 0.43 0.42
Food and kindred products................................ 1.02 1.03 1.01 1.03 (X) (V) (X) (X
Tobacco products......................................... 4.36 4.40 4.65 4.70 (x) (X) (X) (X)
Textile mill products................................ .. .. ........ ... 2 3 (NA) (RA) (NA) (NA)
Paper and allied products............................... 1.25 1.23 1.26 1.28 (NA (NAl (NA ()
Chemicals and allied products............................ 1.55 1,56 1.58 1.59 (X (1 (x (
PItroleum and coal products............................ 1.02 1.05 1.03 1.04 (X) ( X (X (X)
..* x. .. ... .. __ r- -f f -


and Unfilled Orders to Shipments, Durable Goods
(Seasonally Adjusted)


industries


GROUP













Appendix


The following is a description of the survey and


definitions us
the meaning
represent any


EXPLANATION OF TERMS


These are provided to clarify


of the items


involved and do not


revisions from those definitions


previously employed.


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


reported


ASM


which


are received


DESCRIPTION OF THE SURVEY


receivable net selling values, f.o.b.


discounts


plant, after


and allowances and excluding freight


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.


the ASM,


each


manufacturing


establishment provides data on employment, pay-


rolls,


shipments,


penditures, an
selected items.
information on


cost of materials,


inventories


as well


capital ex-
l as other


The establishments do not provide


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.


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


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,


for individual establishments.


and orders data monthly


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
operations


typically


comprises


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 categoryrepresent effectively the month-
to-month movements of the establishments in the
SIC industries which make up the category. Thus,
the monthly retorts are used to undate the ASM


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.


dustry cat
industries,


Since the M3-1 in-


gories typically are groupings of
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


te




UNIVERSITY OF FLORIDA

11111 111111111II I IIi i I II II
S3 1262 08589 4250


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


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.


respondents


In the ASM,


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.


ventories


The figures on the change in in-


from


one period


to the next are of


greater significance than the actual aggregates.


Inventories


cation:


are reported


by stage of fabri-


(a) finished goods; (b) work in process;


inventories.


materials, s
In using


applies, fuel]
inventories


and other
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


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 un-
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


specific
eluded.


lly


authorized


to be expended are in-


The respondent is instructed to deduct


the sales value ofparitial 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


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


directly in the tabulated totals.


New orders are


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


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


derived


from the shipments plus net change in


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