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:
August 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:
AA00008477:00047

Related Items

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

Full Text

BPS


A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


CUR EN INDUSTRIAL


Man


rers'


REPORTS


Shipments,


Orders


August 1971


U.S. DEPARTM


bureau of the Census


FOR RELEASE:


October 1, 1971


SERIES:


M3-1(71)-8


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


SUMMARY


SNew orders for manufactured products in August
at $57.7 billion decreased $300 million or 0.5
percent from $58.0 billion in July after seasonal


adjustment.


Shipments


decreased


million


or 1.4 percent to $57.4 billion from $58.2 billion
in July. Unfilled orders increased $300 million
to $77.9 billion at the end of August. Manufacturers'
inventories remained unchanged at $100.2 billion
at the end of August. The inventories to shipments
ratio increased from 1.72 to 1.75.


For the 3 months ending in August, the


1967 1968 1969 1970 1971


average


change


in new orders


represents a 0.4 percent


Chart 2


increase compared with a 0.1 percent decrease for
the 3 months ending in May and a 2.9 percent


increase


for the


months ending in February.


NEW ORDERS


New orders for durable goods at $31.5 billion
decreased $200 million or 0.7 percent over July.
New orders for primary metals decreased $400


million to $4.1 billion.


metal
billion.


products
Among


increase


New orders for fabricated
,ed $200 million to $3.7


the supplementary


series, new


orders for defense products decreased $800 million
to $2.1 billion while new orders for producers'
capital goods increased $400 million to $6.6 billion.


- Manufacturers' Shipments (Seasonally Adjusted)


Billions of Dollars*


-V


Durable Goods Industries


-/--


Nondurable


-- -


_ ^- -~~ -


Goods Industries


II *Semilog Scale


and







Chart 3


- Manufacturers' Unfilled Orders (Seasonally Adjusted)


Billions of Dollars*


SHIPMENTS


Shipments of durable goods decreased $70(
million to $31.2 billion in August as a decrease ij
primary metals of $1.4 billion to $3.9 billion w
partially offset by increases in fabricated met#
products ($400 million), the machinery industridi
($200 million), and transportation equipment ($10
million). Shipments of nondurable goods decrease<
$100 million to $26.2 billion.

UNFILLED ORDERS


Unfilled orders for durable goods increased $300
llion to $74.9 billion at the end of August.


Primary


metals


increased


million to $5.3


billion.

INVENTORIES


1967 1968 1969 1970 1971


Inventories remained unchanged at $100.2 billion
as a slight decrease in durable goods inventories
was offset by a slight increase in nondurable goods


inventories.


At the all manufacturing level, ma-


trials and supplies decreased $100 million, work
in process increased $100 million, and finished
goods remained unchanged from July.

SCHEDULED RELEASE DATES

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


advance
report
and is
orders,


report


on durable goods.


The advance


is based on a tabulation of early reports


limited


to statistics


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 dali
published for next month.


durable


goods


for September


Final figures will


in the


report


to be


The advance report on


is scheduled


release on October 22, 1971 and the full report is
scheduled for release on November 3.

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, Industry Division, Wash-
20233.


4


.. .


- -


Chart 4


- Total Inventory (Seasonally Adjusted)


lions of Dollars*


.ItCIkI IuhI IkII


mi


Total


Durable Goods Industries


-4---


----4---


--


Nondurable Goods Industri


*Semilog Scale
i II L1 1 I t i. pip p


IE'


t










OF MANUFACTURERS'


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment
adjustment-* adjustment
Industry group Aug. July June Aug. July ug. Aug. July, June Aug. July Aug.
1971 1971 1971 1971 197 1 1970 1971 1971 1971 1971 1971 1970


All manufacturing


industries:


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


Total,


Durable
Stone,


excluding


goods industries,


and glass


transportation.....
total.............
products...........


Primary metals,


furnaces


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


Fabricated metal


Metal ca
Machinery,
Engines


ns, bar


except


products,
'rels, and


total..........
drums.......
il total.......


electric


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


Farm machinery


Construction, mining,


and equipment............


and material


handling


Metalworking machinery..................


General


industrial


machinery............
total...............


Electrical machinery,


Electrical
equipment


Household


transmission an
and industrial


Ld distribution
apparatus.....


appliances, including


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


Transportation


vehicles


Aircraft,
Instruments
All other dl
Nondurable go


equipment,


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


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


durable


goods industries .......


ods industries,


Food and kindred


Tobacco
Textile


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


products,


products....,..... ....... .......
mill products.....................


Paper and allied


Pulp, paper
Chemicals and
Industrial
Petroleum an
Rubber and p


products,


d allied pr
chemicals,


d coal
lastics


All other nondurable



All manufacturing


Total,


Durable g
Primary


excluding


oducts,
except


total......
pigments...


products...............


products,


n.e.c.. .-..


goods industries.....



Industries:


transportation.....

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


oods industries,


metals,


Blast furnaces
Fabricated metal


Machinery,


except


total..c ..................
, steel mills,.............
products.................


electrical,


total.......


Engines


Construction,


mining,


and material


handling


Metalworking machinery..................


General


industrial machinery............


Electrical machinery,


Electrical
equipment
Household


Transmission and distribute
Sand industrial apparatus..
appliances, including radio


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


Transportation equipment,


Aircraft,


missiles,


All other durable


Nondurable


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


and parts..,........


goods industries......,,.


goods industries,


Industries with


unfilled


total..........
>rders. ...... ...


Shipments


57,393
49,768
31,175
1,826

3,885
1,378
2,507
3,788
351
5,030
307
496

847
418
417
4,520

902

955
1,233
7,625
5,055
1,921
963
3,538
26,218
8,689
1,908
488
(2)
2,258
965
4,266
1,402
2,281
1,659
6,577


58,185
50,669
31,890
1,793
5,312
2,940
2,372
3,437
351
4,937
288
480

781
386
401
4,434

889

929
1,215
7,516
4,962
1,933
1,022
3,439
26,295
8,739
1,916
491
(2)
2,187
899


58,988
50,977
32,650
1,762
5,404
2,750
2,654
3,550
351
5,015
356
481

812
377
417
4,476

891

985
1,310
8,011
4,647
2,642
982
3,450
26,338
8,699
1,899
495
(2)
2,219
934
4,363
1,421
2,287
1,582
6,693


55,992
49,745
29,510
1,937

3,743
1,334
2,409

3,794
404
4,724
285
437

809
382
417
4,406

860

1,007
1,178
6,247
3,766
1,856
978
3,681
26,482
8,726
1,923
513
(2)
2,277
980
4,292
1,403
2,308
1,602
6,764


53,478
47,626
28,485
1,765
4,923
2,775
2,148
3,223
386
4,486
236
404

750
338
383

4,045

811

890
1,116
5,852
3,520
1,759
926
3,265
24,993
8,470
1,912
506
(2)
2,045
843
4,058
1,381
2,327
1,501
6,086


Total inventories


100,177
86,584
64,630
2,320
8,959
4,639
4,320

7,550
800
13,732
937
1,101

2,716
1,179
1,144
9,907

2,199

1,955
2,938
13,593
4,034
7,362
2,346
6,223

35,547
8,774
868
2,118
(2)
2,729
1,023
6,725
1,882
2,476
2,106
10,619


100,194
86,398
64,692
2,293
8,821
4,464
4,357
7,510
805
13,831
942
1,138

2,713
1,193
1,156
9,920

2,207

1,956
2,947
13,796
4,233
7,416
2,327
6,194
35,502
8,791
847
2,142
(2)
2,744
1,019
6,786
1,899
2,397
2,153
10,489


100,536
86,868
64,825
2,280
9,170
4,815
4,355
7,410
753
13,854
942
1,137

2,689
1,192
1,175
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


99,868
86,226
64,531
2,272
8,916
4,598
4,318
7,590
817
13,621
938
1,075

2,667
1,180
1,133
9,911

2,198

1,943
2,941
13,642
4,147
7,345
2,357
6,222

35,337
8,689
794
2,004
(2)

2,742
1,021
6,675
1,863
2,474
2,086
10,667


99,826
86,365
64,482
2,312
8,726
4,375
4,351
7,647
861
13,781
937
1,111

2,681
1,191
1,159
9,982

2,223

1,987
2,935
13,461
3,890
7,426
2,363
6,210
35,344
8,552
814
1,998
(2)

2,783
1,028
6,780
1,880
2,398
2,121
10,712


& I I _________________ I I-


99,030
84,604
64,816
2,206
8,922
4,785
4,137
6,925
719
13,749
913
1,134

2,534
1,247
1,146
10,199

2,102

1,970
3,188
14,426
4,021
8,549
2,444
5,945
34,214
8,168
735
2,060
(2)
2,725
1,005
6,485
1,902
2,341
2,070
10,365


New orders Unfilled orders


57,726
50,016

31,502
4,062
1,604
3,716
5,103
373

893
410
444

4,550

960

989
1,161
7,710
1,985
6,361

26,224

7,252


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
7,082


56,174
49,886

29,750
3,789
1,433
3,751
4,869
400

814
377
471

4,421

891

1,022
1,160
6,288
1,804
6,632

26,424

7,219


53,835
47,207
28,834
3,928
1,734
3,159


4,424
220

750
354
368

4,609

888

915
1,478
6,628
2,581
6,087

25,001
6,433


52,758
47,482
27,334
4,320
2,035
3,585
4,279
232

749
257
413

4,131

817

926
1,138
5,276
1,878

5,743

25,424
6,608


77,945
53,249

74,905

5,349
2,550
10,886
14,343
4,977

2,441
1,042
1,264

14,350

3,989

640
5,883
24,696
17,905
5,281

3,040

3,040


77,615
53,005
74,584

5,173
2,325
10,960
14,269
4,910

2,395
1,050
1,237

14,320

3,930

607
5,955
24,610
17,840
5,252

3,031


-
,
.._
,


77,825
53,115

74,794
5,036
2,280
10,860
14,404
4,996

2,407
1,062
1,288

14,396

3,999

694
5,830


24,297 24,710
17,369 17,884
5,183 5,388


-, I I


77,646
52,976

74,559
4,989
2,181
10,903
14,259
4,881

2,402
1,067
1,233

14,384


.24,670
17,936
5,354

3,087
3,087


Blast


radio


Motor


ion
. .


I -, ----


r,


*
>


w


F












Table 2.--VALUE


OF MANUFACTURERS


SHIPMENTS,


INVENTORIES
(Millions


, AND ORDERS,
of dollars)


FOR MARKET


CATEGORIES


AND SUPPLEMENTARY


SERIES


Without seasonal Without seasonal
Seasonally adjusted dutenI Seasonally adjusted adjustment
adjustment- adjustment
Industry group
Aug. July June Aug. July Aug. Aug. July June Aug. July Aug.
1971 1971r 1971 1971 1971r 1970 1971 1971r 1971 1971 1971r 1970

Shipments Total inventories

All manufacturing industries, total.. 57,393 58,185 58,988 55,992 53,478 53,702 100,177 100,194 100,536 99,868 99,826 99,030

Durable goods industries, total........... 31,175 31,890 32,650 29,510 28,485 28,239 64,630 64,692 64,825 64,531 64,482 64,816
Nondurable goods industries, total......... 26,218 26,295 26,338 26,482 24,993 25,463 35,547 35,502 35,711 35,337 35,344 34,214

Industry groups arranged by market
categories:
Home goods and apparel................... 5,250 5,295 5,437 5,680 4s937 5,627 10,745 10,660 10,628 10,754 10,896 10,391
Consumer staples......................... 11,308 11,218 11,286 11,368 10,826 10,718 13,588 13,599 13,774 13,457 13,297 12,887
Equipment and defense products, except
automotive.............................. 8,522 8,336 9,134 8,148 7,644 8,031 25,421 25,479 25,371 25,267 25,445 26,187
Automotive equipment..................... 5,631 5,516 5,226 4,321 4,046 3,519 5,214 5,396 5,428 5,280 5,020 5,142
Construction materials, supplies, and
intermediate products................... 5,328 5,154 5,171 5,593 5,076 4,746 8,215 8,085 8,025 8,157 8,144 7,678
Other materials and supplies and
intermediate products.................. 21,354 22,666 22,734 20,882 20,949 21,061 36,994 36,975 37,310 36,953 37,024 36,745

Supplementary series:2
Household durable goods industries....... 2,408 2,328 2,407 2,548 2,092 2,216 4,917 4,935 4,895 4,927 5,006 4,850
Producers' capital goods industries...... 6,473 6,304 6,396 6,122 5,741 5,715 17,493 17,546 17,507 17,394 17,568 17,081
Defense products industries (old series). 3,574 3,548 4,338 3,426 3,264 3,759 11,241 11,308 11,273 11,217 11,294 12,713
Defense products (new series)........... 2,074 2,010 2,589 2,001 1,835 2,022 5,316 5,488 5,507 5,293 5,494 7,020

New orders Unfilled orders

All manufacturing industries, total.. 57,726 58,022 57,009 56,174 53,835 52,758 77,945 77,615 77,775 77,825 77,646 82,161

Durable goods industries, total............ 31,502 31,722 30,666 29,750 28,834 27,334 74,905 74,584 74,748 74,794 74,559 79,325
Nondurable goods industries, total......... 26,224 26,300 26,343 26,424 25,001 25,424 3,040 3,031 3,027 3,031 3,087 2,836

Industry groups arranged by market
categories:
Home goods and apparel................... 5,266 5,360 5,365 5,681 5,093 5,636 2,138 2120 2,048 2237 2,237 08
Consumer staples......................... 11,311 11,223 11,266 11,369 10,829 10,733
Equipment and defense products, except
automotive.............................. 8,499 8,871 8,298 8,204 8,577 7,584 43,106 43,091 42 525 43,142 43,017 44,496
Automotive equipment..................... 5,669 5,548 5,184 4,392 4,115 3,47943106 43091 42,525 43,142 43,017 44,4
Construction materials, supplies, and
intermediate products................... 5,188 5,306 5,077 5,466 5,114 4,816 10,440 10,580 10,430 10,469 10,596 10,274
Other materials and supplies and
intermediate products................... 21,793 21,714 21,819 21,062 20,107 20,510 22,261 21,824 22,772 21,977 21,796 25,303

Supplementary series:2
Household durable goods industries....... 2,426 2,401 2,338 2,566 2,259 2,244 1,762 1,747 1,672 1,875 1,860 1,742
Producers' capital goods industries...... 6,583 6,146 6,237 6,312 5,669 5,432 22,979 22,867 23,028 23,127 22,938 22,864
Defense products industries (old series). 3,591 4,246 3,628 3,370 4,416 3,410 24,503 24,486 23,787 24,394 24,451 27,529
Defense products (new series)........... 2,101 2,900 1,678 1,993 3,094 1,704 19,128 19,101 18,211 19,107 19,114 19,588


included in these


adjusted


connunications,


and total inventories


series.


S


ince there
adjusted


and calendar-month


of the separate


for trading-day


are regroupings


aircraft


and aircraft


of work performed


o historical
the factors
variations;
categories


industry


parts,


for the Departi


data available


and shipbuilding
ment of Defense.


to develop


of these industries.


unfilled


orders


separate


industries
The results
seasonal f


~Preliininary.


and inventories


rR


began


to provide


of these report


actors
revised.


as of end of month.


aggregate
s are


for these
'Shipments
The supple-


as follows:


Household


durable


appliances;


goods


ophthalmic


industries


goods,


- Household


watches,


furniture;


and clocks;


kitchen


articles


and miscellaneous


personal


pottery;
goods.


cutlery,


handtools,


and hardware;


household


Producers'
equipment
ponents),


capital


goods (formerly


and machine
shipbuilding


shops),


machinery


electrical


and repairing,


and equipment)


machinery
d railroad


industries


(excluding


househo


and street car


- Machinery, e
Id appliances,


xcept


electrical


communication


(excluding
equipment an


farm machinery
d electronic co


equipment.


products


aircraft,
industries


industries


parts,


and omits defense


(old series)
and ordnance


- Based


on reports


industries.


work perrormned


(Thus,


in the ship bui


classified


this series includes
Iding industry.)


in the communication


significant


equipment,


of nondefense


complete
work in these


(new series)


industries:


in that it includes


aircraft, a
Industries,


nd aircraft


- Based


communication


defense


parts


activity in
. The data


on separate
s, complete


ship building
are comparable


and excludes


work filed by large


to those published annually


it differs


for the specified


*During


figures


on shipments,


1968 manufacturers in ordnance,


orders,


reporters,
new orders


mentary


new defense


the data have been seasonally


Defense


aircraft


Defense


products


ordnance,


for companies


reports o
aircraft,


n defense
aircraft


parts,


nondefense


defense


contractors


and ship building.


work in ordnance,


in the MA-175


Thus,


coanunkations,


Shipments


in the following


from the old series
complete


of Defense-Oriented











Table 3.--MANUFACTURERS


(Based


on seasonally


adjusted


Month-to-month 1971 Average monthly rates of change Average, 1965.1970

3 months 12 months
Item and industry group _,-_______ _________
Item and industry group July- June. May. Average Average
Aug. July June May- Feb.- Nov. 1970. Aug. 1970- rise decline
Aug. 1971 May 1971 Feb. 1971 Aug. 1971


Shipments:
All manufacturing industries........... -1.4 -1.4 +1.1 -0.6 +0.8 +2.7 -+0.3 +1.1 .1.2
Durable goods industries, total.......... -2.2 -2.3 +2.5 -0.7 +1.1 +3.7 +0.2 +1.8 -1.8
Nondurable goods industries, total....... -0.3 .0.2 .0.6 -0.4 +0.5 +1.6 +0.3 +1.0 .0.6
Total inventories:
All manufacturing industries........... 0.0 -0.3 -0.1 -0.1 0.0 -0.1 +0.1 +0.7 -0.3
New orders:
All manufacturing industries........... -0.5 +1.8 0.0 +0.4 .0.1 +2.9 +0.4 +1.9 -1.4
Durable goods industries, total.......... -0.7 +3.4 +0.2 +1.0 -0.5 +4.2 +0.6 +3.2 .2.3
Nondurable goods industries, total....... -0.3 .0.2 .0.3 -0.2 +0.4 +1.6 +0.3 +1.0 -0.6
Unfilled orders:
Durable goods industries, total.......... +0.4 -0.2 -2.6 -0.8 -1.1 +1.1 -0.5 +1.1 .0.7












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

(Millions of dollars)

adutdWithout seasonal Without seasonal
Seasonally adjusted aSeasonally adjusted ajt
adjustment adjustment
Industry group
Aug. July June Aug. July Aug. Aug. July June Aug. July Aug.
1971 1971r 1971 1971p 1971r 1970 1971 1971r 1971 1971 1971r 1970

Total Materials and supplies

All manufacturing industries, total.. 100,177 100,194 100,536 99,868 99,826 99,030 32,800 32,921 32,754 32,886 32,735 31,378
Durable goods industries, total............ 64,630 64,692 64,825 64,531 64,482 64,816 19,721 19,932 19,669 19,996 19,887 19,043
Stone, clay, and glass products.......... 2,320 2,293 2,280 2,272 2,312 2,206 755 750 757 754 753 716
Primary metals........................... 8,959 8,821 9,170 8,916 8,726 8,922 3,459 3,403 3,420 3 545 3,384 3,332
Machinery (electrical and nonelectrical). 23,639 23,751 23,827 23,532 23,763 23,948 6,509 6,570 6,490 6,547 6,664 6,343
Transportation equipment................. 13,593 13,796 13,668 13,642 13,461 14,426 2,992 3,166 3,151 3,057 2,920 3,206
All other durable goods industries....... 16,119 16,031 15,880 16,169 16,220 15,314 6,006 6,043 5,878 6,093 6,166 5,446
Nondurable goods industries, total......... 35,547 35,502 35,711 35,337 35,344 34,214 13,079 12,989 13,058 12,890 12,848 12,335
Chemicals and allied products............ 6,725 6,786 6,808 6)675 6,780 6,485 2,366 2,357 2,386 2,362 2,367 2,257
Petroleum and coal products.............. 2,476 2,397 2,402 2,474 2,398 2,341 588 579 559 587 579 548
Rubber and plastics products, n.e.c...... 2,106 2,153 2,131 2,086 2,121 2,070 639 646 648 661 662 701
All other nondurable goods industries.... 24,240 24,166 24,370 24,102 24,045 23,318 9,486 9,407 9,465 9,280 9,240 8,829

Work in process Finished goods

All manufacturing industries, total.. 33,419 33,321 33,472 33,412 33,296 34,717 33,958 33,952 34,310 33,570 33,795 32,935
Durable goods industries, total............. 28,306 28,177 28,329 28,244 28,100 29,601 16,603 16,583 16,800 16,291 16,495 16,172
Stone, clay, and glass products........... 313 304 301 300 304 305 1,252 1,239 1,222 1,218 1,255 1,185
Primary metals........................... 3,020 2,960 3,068 2,978 2,929 3,057 2,480 2,458 2,682 2,393 2,413 2,533
Machinery (electrical and nonelectrical). 10,570 10,605 10,758 10,544 10,540 11,223 6,560 6,576 6,579 6,441 6,559 6382
Transportation equipment............... 9,193 9,243 9,112 9,199 9,198 9,748 1,408 1,387 1,405 1,386 1,343 1,472
All other durable goods industries....... 5,210 5,065 5,090 5,223 5,129 5,268 4,903 4,923 4,912 4,853 4,925 4,600
Nondurable goods industries, total......... 5,113 5,144 5,143 5,168 5,196 5,116 17,355 17,369 17,510 17,279 17,300 16,763
Chemicals and allied products............ 854 908 923 850 905 846 3,505 3,521 3,499 3,463 3,508 3,382
Petroleum and coal products.............. 456 446 460 453 455 444 1,432 1,372 1,383 1,434 1,364 1,349
Rubber and plastics products, n.e.c...... 321 342 341 329 337 334 1,146 1,165 1,142 1,096 1,122 1,035
All other nondurable goods industries.... 3,482 3,448 3,419 3,536 3,499 3,492 11,272 11,311 11,486 11,286 11,306 10,997

5Preliminary.











Chart 5 Ratio of Manufacturers' Inventories to Shipments
and Unfilled Orders to Shipments, Durable Goods
(Seasonally Adjusted)


Ratio Scale


3.60
3.50
3.40
3.30
320
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 GROUP


(Based


on seasonally


adjusted


Unfilled orders shipments ration
Inventories shipments ratio U l, or s akl r
monthss backlog)
Industry group
Aug. July June Aug. Aug. July June Aug.
1971" 1971r 1971 1970 1971p 1971r 1971 1970

All manufacturing industries, total.................. 1.75 1.72 1,70 1.79 2.26 2.22 2.16 2.46
Durable goods industries, total............................... 2.07 2.03 1.99 2.13 2.75 2,66 2.58 2.97
Stone, clay, and glass products.......................... 1.27 1.28 1.29 1.52 (NA ) (NA) (NA) (NA)
Primary metals......................................... ... 2.31 1.66 1.70 1.86 1.38 0.97 1.12 1.44
Fabricated metals........................................ 1.99 2.19 2.09 1.97 3,17 3.55 3.41 3.41
Machinery, except electrical............................. 2.73 2.80 2.76 2.95 2.85 2.89 2.87 3.14
Electrical machinery.............................,,......... 2.19 2.24 2.23 2.37 3.17 3.23 3.11 3.44
Transportation equipment................................. 1.78 1.84 1.71 1.88 5.77 5.90 4.99 6.00
Instruments and related products......................... 2.44 2.28 2.40 2.43 1.58 (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.36 1.35 1.36 1.37 0.42 0.43 0.43 0.43
Food and kindred products................................ 1.01 1.01 1.03 1.00 X) (X) (X) (X
Tobacco products........................................ 4.34 4.36 4.40 4.83 X1 (X) (X) (X)
Textile mill products...................... .............. i ) () ( ) (?A (HA (NA) (NA)
Paper and allied products................................ 1.21 1.25 1.23 1.30 (NA 1 (NA) (4A) (NA)
Chemicals and allied products............................. ... 1.58 1.57 1.56 1.60 ,x (X) (X) (X)
SPetroleUm and coal products............................ 1.09 1.02 1.05 1.05 (x) () (X) (X)
n-i&. 4 ^ A ---]-. I '2 t I 4i". t 'sW 4> v ~ \


industries


data)












Appendix


The following is a description of the survey and


definitions used.


EXPLANATION OF TERMS


These are provided to clarify


the meaning
represent az


of the


items


involved and do not


revisions from those definitions


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


previously employed.


reported


which


are received


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.


the ASM,


each


manufacturing


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


penditures, an
selected items.
information on


inventories


as well


as other


The establishments do not provide


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.


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 workperformedby
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 establish


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


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 cai
industries,


Since the M3-1 in-


.gories typically are groupings of
this duplication is significant for the


reporting


typically


comprises


the entire


all manufacturing,


durable goods and nondurable


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


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

8 3 1262 08589 4409


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 in an industry is


precise.


ventories


The figures on the change in in-


from


one period


to the next are of


-
greater sxgnxfxcance than theactualaggregates,

Inventories are reported by stage of fab


New Orders Received


Orders as reported in the monthly survey are net


of cancellations during the month.


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 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


ri-


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


cation:
and (c)
inventor


m
ies.


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,


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


beginning


of the period


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.


derived


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-
ently. Seasonally adjusted new orders are derived
from seasonally adjusted shipments and sea-
sonally adjusted unfilled orders.