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 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:
AA00008477:00051

Related Items

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

Full Text

A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


CURRENT


INDUSTRIAL


acturers'
rentories,


REPORTS


Shipments,


and


Orders


December


1971


COMMERCE / Bureau of the Census


FOR RELEASE:


February 1, 1972


SERIES:


M3-1(71)-12


orders


for manufactured


products


December decreased $200 million or 0.4 percent
to $59.3 billion in December after seasonal
adjustment. Shipments decreased $200millionor
0.3 percent to $58.9 billion from $59.1 billion in
November. Unfilled orders increased $500 million
or 0.6 percent to $78.4 billion at the end of


DBecember.


Manufacturers' inventories remained


unchanged at $100.8 billion. The inventories to
shipments ratio showed no change at 1.71.


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


1967 1968 1969 1970 1971


Chart 2 Manufacturers' Shipments (Seasonally Adjusted)


For the 3


months


ending in December, the


!average change in new orders represents a 0.4
Percent decrease compared with a 3.6 percent
itencrease for the 3 months ending in Sentember


and


a 0.3


percent


increase for the


3 months
3 months


ending in June.

NEW ORDERS

New orders for durable goods at $32.1 billion
decreased $400 million or 1.3 percent compared to
November. This decrease was concentrated in the


motor vehicles and parts industry.


Among the


supplementary series, new orders for producers'
capital goods increased $200 million to $6.8
billion.


Durable


Billions of Dollars*


Goods Industries


- -


-s--Nv


Nondurable Goods Industries


- --


*Semilog Scale


SUMMARY


New


FM


q





Chart 3


- Manufacturers' Unfilled Orders (Seasonally Adjusted)
Billions of Dollars*


SHIPMENTS

Shipments of durable goods decreased $400
million or 1.1 percent to $31.8 billion in December.
Shipments of motor vehicles and parts decreased
$400 million to $4.4 billion. Shipments of non-


durable
billion.


goods


increased


$200 million to $27.1


UNFILLED ORDERS


orders for durable goods increased


$400 million to $75.2 as the aerospace industries
increased $400 million.

INVENTORIES


Inventories


of durable goods and nondurable


Unfilled


('K



/


Durable Good, industries


I 1, 1 1 II I I I 1, I 11 I I I II I I I I I


*Semilog Scale
I ti II f i i, I


goods showed no change in December. At the all
manufacturing level, materials and supplies in-


creased $100 million, work-in-process


million


finished


goods


decreased
remained


unchanged.

SCHEDULED RELEASE DATES

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


advance report on durable goods.


report
and is
orders,


The advance


is based on a tabulation of early reports


limited


to statistics on shipments, new


and unfilled


industry categories.


orders


for a few broad


The present report is based


on more complete reporting, but the estimates are
also considered preliminary. Final figures will


appear as historical da
published for next month.


durable


goods


a in the report to be
The advance report on


January


scheduled


release on February 22, 1972 and the full report
is scheduled for release on March 2, 1972.

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

Inquiries concerning these figures should be
addressed to the U.S. Department of Commerce,
Social and Economic Statistics Administration,
Bureau of the Census, Industry Division, Wash-


ington D.C.


20233.


Chart 4


Total Inventory (Seasonally Adjusted)


Billions of Dollars*


Total






able Goods


Nondurable Goods


III ItillIll


Industries


Industries




*Semilog Scale


1970 1










OF MANUFACTURERS'


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment
adjustment-* adjustment
Industry group
Dec. Industry group Nov. Oct. Dec. Nov. Dec. Dec. Nov. Oct. Dec. Nov. Dec.
1971p r p r 1970 1971 1971r 1971 1971r 1971 1970
197l1 1971 1971 1971~ 1971 j1970 1971~ 1971 1971 1971~ 1971 1970


All manufacturing


Total,


Durable
Stone,


excluding


industries:


transportation.....
total,.............


goods industries,


Primary metal
Blast furna


and glass products...........
Ls, total....................
,ces; steel mills.............


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


Fabricated metal


Metal ca
Machinery,


Engines


ns, bar


except


products,
rels, and


total..,..... .
drums..... ....
.1, total.......


electric


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


Farm machinery


Constructi
handling


Lon,


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


mining,


and material


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


General in
Electrical m
Electrical
equipment
Household


dustrial
machinery,
transmit
and indu
appliance


Communication
Transportation


Motor


vehicle


Aircraft,
Instruments
All other di
Nondurable go'


machinery............
total...............
ssion and distribution
mistrial apparatus.....


es, inc


luding


radio


Sequipment.................
equipment, total...........
s and parts................


missiles,
and relate


durable


good


and parts...........
d products.........
Is industries........
*ies, total..........
icts, total,.,,......


ods industry


Food and kindred


Tobacco
Textile
Paper ax
Pulp,


produ


products1..... ...... ..... .........
mill products..........,,..........


nd allie
paper,


OCemicals anm
Industrial
Petroleum an'
Rubber and p.


products,


d allied pr
chemicals,


oducts,
except


total......
pigpents...


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


lastics


All other nondurable



All manufacturing


Total,


Durable


excluding


products,


n.e.c......


goods industries.....


industries:


transportation.....


goods industries,


Primary metals, total..............,.....
Blast furnaces, steel mills............
Fabricated metal products.................


Machinery, e:
Engines an
Construct
handling
Metalworkil
General il

Electrical ms
Electrical
equipment
Household


Communication
Transportation


Aircraft,


All other

Nondurable g


except


electrical,


total.......


d turbines............. .......


on,


mining,


and material


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


dustrial

achinery,


machinery..... ....


transmission a
and industrial
appliances, inc


equipment,
siles, and


mis;


durable


and e


nd distribution
apparatus.....


luding


radio


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


goods industries....... .


4 nrlIc+ r4 or


Shipments


59,341
51,997
32,135
4,816
2,226
3,510
5,105
336

940
424
436

4,737

1,044

1,028
1,202
7,344
2,149
6,623

27.206


58,881
52,079
31,750
1,877
4,791
2,216
2,575
3,610
369
5,083
337
428

873
393
451
4,935

1,049

1,115
1,298
6,802
4,415
1,767
940
3,712
27,131
9,221
2,079
487
(2)
2,191
895
4,419
1,410
2,316
1,589
6,908


59,576
52,001
32,564
4,809
2,246
3,644
5,154
235

876
370
517

4,725

916

1,112
1,257

7,575
2,142
6,657

27.012


59,061
51,594
32,106
1,892
4,825
2,212
2,613
3,683
375
4,981
289
492

813
377
443
4,607

931

1,026
1,177
7,467
4,853
1,958
962
3,689
26,955
9,122
2,104
502
(2)
2,194
918
4,360
1,378
2,328
1,583
6,866


57,439
50,177
31,166
1,772
4,421
1,901
2,520
3,547
354
5,064
296
459

835
403
413
4,568

959

922
1,235
7,262
4,732
1,864
992
3,540
26,273
8,690
1,905
511
(2)
2,166
902
4,266
1,358
2,373
1,592
6,675


57,145
50,061
31,094
1,699
4,465
2,036
2,429
3,449
317
5,115
408
386

758
413
449
4,941

1,026

1,073
1,356
7,084
4,423
1,991
999
3,342
26,051
9,208
2,004
488
(2)
2,136
893
3,987
1,314
2,316
1,489
6,427


Total inventories


59,366
51,319
32,288
1,853
4,618
2,026
2,592
3,604
323
4,862
310
383

753
373
423
4,728

927

1,062
1,208
8,047
5,354
2,030
1,015
3,561
27,078
9,239
1,998
506
(2)
2,215
915
4,270
1,365
2,341
1,563
6,944


100,754
87,081
64,368
2,265
9,213
4,828
4,385
7,206
754
13,582
1,016
1,092

2,673
1,190
1,099
9,812

2,164

1,878
3,004
13,673
3,873
7,464
2,412
6,205
36,386
9,129
802
2,319
(2)
2,787
1,028
6,761
1,915
2,420
2,118
10,852


1iC
8
6


0,740 100,404
7,315 86,788
4,494 63,998
2,296 2,216
9,283 9,419
4,875 5,046
4,408 4,373
7,372 7,058
723 679
13,690 13,519
975 1,015
1,046 1,100

2,684 2.695


100,793
87,278
64,399
2,272
9,201
4,784
4,417
7,191
735
13,698
1,005
1,075

2,736
1,184
1,145
9,870

2,190

1,927
2,941
13,515
3,861
7,425
2,426
6,226
36,394
9,169
808
2,262
(2)
2,817
1,046
6,697
1,912
2,484
2,129
10,836


9,637

2,153

1,811
2,965
13,616
3,892
7,426
2,357
6,176
36,406
9,432
810
2,409
(2)
2,763
1,023
6,765
1,930
2,446
2,110
10,481


New orders Unfilled orders


57,490
50,520
31,126
4.488


3,353
5,292
401

880
400
437

4,737

1,068

956
1,218
6,970
1,639
6,286

26.364


57,649
50,152
31,562
4,724
2,225
3,349
5,140
415

809
433
469

4,807

1,023

999
1,305
7,497
2,354
6,045

26.087


59,470
51,361
32,327
4,745
2,181
3,445


758
348
496

4,595

884

1,043
1,151
8,109
1,975
6,466

27.143


54,075
47,180
29,823
4,811
2,571
3,827
4,516
358

630
305
469

4,726

885

984
1,535
6,895
2,332
5,048

24,252


78,352
53,866
75,166
5,690
2,981
10,365
14,702
5,031

2,632
1,098
1,311

14,587

4,061

668
5,996
24,486
17,803
5,336

3.186


77,888
53,943
74,776
5,664
2,970
10,465
14,676
5,030

2,564
1,067
1,326

14,784

4,065

755
6,092
23,945
17,422
5,242

3,112


77,375
53,537
74,323
5,680
2,936
10,505
14,504
5,084

2,501
1,073
1,252

14,669

4,081

671
6,013
23,838
17,237
5,127

3.052


78,161
53,476
75,011
5,691
2,969
10,286
14,646
5,065

2,482
1,065
1,360

14,557

3,932

609
6,200
24,685
17,777
5,146

3.150


100,104
86,509
63,894


2,167
9,274
4,899
4,375
7,026
678
13,589
1,002
1,053

2,719
1,184
1,128
9,720

2,157

1,858
2,932
13,595
3,919
7,452
2,376
6,147
36,210
9.600


2,239
(2)
2,764
1,035
6,564
1,880
2,505
2,122
10,416


77,656
53,383
74,542
5,433
2,780
10,388
14,620
5,058

2,431
1,045
1,340

14,689

3,933

682
6,251
24,273
17,414
5,139

3.114


100,135
86,057
64,781
2,228
9,347
5,072
4,275
6,823
724
14,007
976
1,165

2,612
1,197
1,149
10,005

2,174

1,958
3,055
14,078
4,131
7,951
2,360
5,933
35,354
9,053
783
2,276
(2)
2,744
1,003
6,766
1,972
2,442
2,156
9,917


80,268
54,610
77,263
6,678
3,705
11, 129
14,444
4,647

2,398
1,180
1,207

14,427

3,873

651
5,970
25,658
19,475
4,927

3.005


1,190
1,161
9,851

2,182

1,944
2,944
13,425
3,831
7,415
2,388
6,189
36,246
9,201
842
2,221
(2)
2,772
1,019
6,730
1,903
2,474
2,124
10,724


:d


,


I


,


,


,











SHIPMENTS, INVENTORIES,


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted 1i Seasonally adjusted adjustment
adjustment- adjustment
Industry group
Dec. Nov. Oct. Dec. Nov. Dec. Dec. Nov. Oct. Dec. Nov. Dec.
1971 1971r 1971 1971p 1971r 1970 1971' 1971r 1971 1971p 1971r 1970

Shipments Total inventories


All manufacturing industries, total.. 58,881 59,061 57,439 57,145 59,366 53,006 100,754 100,793 100,740 100,404 100,104 100,135

Durable goods industries, total............ 31,750 32,106 31,166 31,094 32,288 28,766 64,368 64,399 64,494 63,998 63,894 64,781
Nondurable goods industries, total......... 27,131 26,955 26,273 26,051 27,078 24,240 36,386 36,394 36,246 36,406 36,210 35,354

Industry groups arranged by market
categories:
Home goods and apparel.................. 5,897 5,692 5,326 5,188 5,621 4,787 10,937 11,028 10,911 10,559 10,556 10,134
Consumer staples......................... 11,947 11,787 11,302 11,826 11,936 10,713 14,022 13,932 13,953 14,328 14,220 13,741
Equipment and defense products, except
automotive.............................. 8,344 8,422 8,531 8,626 8,364 8,365 25,418 25,372 25,296 25,284 25,282 25,926
Automotive equipment..................... 5,016 5,438 5,279 4,947 5,889 4,476 5,071 5,044 5,022 5,074 5,062 5,290
Construction materials, supplies, and
intermediate products................... 5,360 5,355 5,146 4,956 5,280 4,312 8,075 8,098 8,201 7,971 7,899 7,714
Other materials and supplies and
intermediate products.................. 22,317 22,367 21,855 21,602 22,276 20,353 37,231 37,319 37,357 37,188 37,085 37,330

Supplementary series:2
Household durable goods industries....... 2,722 2,562 2,367 2,549 2,576 2,136 4,905 4,958 4,959 4,779 4,801 4,788
Producers' capital goods industries...... 6,674 6,477 6,592 6,796 6,505 5,919 17,335 17,450 17,435 17,199 17,333 17,434
Defense products industries (old series). 3,448 3,587 3,511 3,683 3,645 4,173 11,369 11,302 11,277 11,315 11,325 11,978
Defense products (new series)*........... 1,729 1,839 1,768 1,897 1,887 2,208 5,732 5,565 5,514 5,691 5,584 6,424

New orders Unfilled orders

All manufacturing industries, total.. 59,341 59,576 57,490 57,649 59,470 54,075 78,352 77,888 77,375 78,161 77,656 80,268

Durable goods industries, total............ 32,135 32,564 31,126 31,562 32,327 29,823 75,166 74,776 74,323 75,011 74,542 77,263
Nondurable goods industries, total......... 27,206 27,012 26,364 26,087 27,143 24,252 3,186 3,112 3,052 3,150 3,114 3,005

Industry groups arranged by market
categories:
Home goods and apparel................... 5,793 5,817 5,369 5,066 5,646 4,790 2 221 2,318 2,184 2,149 2,264 1,919
Consumer staples......................... 11,957 11,797 11,315 11,832 11,953 10,707
Equipment and defense products, except
automotive.............................. 8,720 8,689 8,493 8,898 8,254 8,594 43,425 42,947 42,633 43,608 43,191 43,537
Automotive equipment..................... 5,114 5,488 5,355 5,089 6,061 4,511 '
Construction materials, supplies, and
intermediate products................... 5,323 5,337 5,004 4,853 5,110 4,613 10,079 10,114 10,132 9,884 9,987 10,540
Other materials and supplies and
intermediate products................... 22,434 22,448 21,954 21,911 22,446 20,860 22,627 22,509 22,426 22,520 22,214 24,272

Supplementary series:2
Household durable goods industries....... 2,621 2,672 2,398 2,440 2,587 2,153 1,804 1,907 1,800 1,729 1,838 1,563
Producers' capital goods industries...... 6,765 6,565 6,806 6,726 6,550 5,871 23,153 23,058 22,972 23,044 23,112 22,456
Defense products industries (old series). 3,758 3,947 3,249 3,999 3,587 4,269 24,532 24,223 23,862 24,645 24,329 26,169
Defense products (new series)*........... 2,047 2,110 1,953 2,103 1,915 2,124 19,654 19,336 19,065 19,799 19,593 19,513


~During


1968 manufacturers in ordnance


, communications, aircraft and aircraft parts, and


shipbuilding


industries


began to


provide


aggregate figures on shipments, orders, and total inventories of work
reports are included in these new defense series. Since there are no


for these reporters, the data have
'Shipments and new orders adjusted


been seasonally


adjusted using the


performed


for the Department of


Defense.


The results of these


historic data available to develop separate seas
factors of these industries. Preliminary.


for trading-day and calendar-month variations; unfilled


orders


and inventories


onal factors
Revised.


as of end of month.


2The supplementary series are regroupings of the separate industry categories as follows:

Household durable goods industries Household furniture; kitchen articles and pottery;


cutlery,


handtools,


and hardware;


house-


hold appliances; ophthalmic goods,


watches, and clocks; and miscellaneous personal goods.


Producers'


capital


goods (formerly machinery and equipment) industries Machinery, except elect


rical (excluding


farm machinery


and equipment and machine


shops),


electrical


machinery


(excluding household


appliances, commun


ication equipment and


electronic


components),


shipbuilding


and repairing, and railroad and street car equipment.


Defense products industries (old


series)


- Based on reports for companies classified in the communication equipment,


complete


aircraft, aircraft parts, and ordnance industries.


(Thus, this series includes significant amounts of


nondefense work in


these industries and omits defense work performed in the shipbuilding


industry.)


Defense


products


(new series)


- Based on separate reports


on defense


work filed


by large defense contractors in the following


industries:


ordnance, communications,


complete aircraft, aircraft parts, and shipbuilding.


Thus, it


differs


from the old


series in that it includes defense
aircraft, and aircraft parts. The


activity in shipbuilding and excludes nondefense work in ordnance, communications,


data are comparable to those published annually in the MA-175,


Shipments


complete


of Defense-


Oriented Industries, for the specified industries.










AND LONG TERM PERCENT


CHANGIS


(Based


on seasonally


adjusted


Month-to-month, 1971 Average monthly rates of change Average, 1965-70

3 months 12 months
Item and industry group
Nov.- Oct.- Sept.- Average Average
Dec. Nov. Oct. Sept.-Dec. June-Sept. Mar.-June Dec. 1970- rise decline
1971 1971 1971 Dec. 1971

Shipments:
All manufacturing industries........... -0.3 +2.8 -0.8 -+0.6 -0.6 +0.7 +0.7 +1.1 -1.2

Durable goods industries, total.......... -1.I +3.0 -1.2 +0.2 -1.1 +1.1 40.7 +1.8 -1.8
Nondurable goods industries, total....... +0.7 +2.6 -0.3 +1.0 0.0 +0.2 40.6 +1.0 -0.6

Total inventories:
All manufacturing industries........... 0.0 +0.1 +0.5 +0.2 -0.1 0.0 0.0 +0.7 -0.3

New orders:
All manufacturing industries........... -0.4 +3.6 +0.3 +1.2 +0.2 -0.4 +0.6 +1.9 -1.4
Durable goods industries, total.......... -1,3 +4.6 +0.3 1.2 +0.4 -0.9 +0.6 +3.2 -2.3
Nondurable goods industries, total....... +0.7 +2.5 +0.3 +1.2 -0.1 +0.1 +0.6 +1.0 -0.6

Unfilled orders:
Durable goods industries, total.......... +0.5 +0.6 -0.1 +0.3 -0.2 -1.9 -0.3 +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 Seasonally adjusted a t
adjustment adjustment
Industry group
Dec. Nov. Oct. Dec. Nov. Dec. Dec. Nov. Oct. Dec. Nov. Dec.
1971p 1971r 1971 1971 1971r 1970 1971p 1971r 1971 1971p 1971r 1970

Total Materials and supplies

All manufacturing industries, total.. 100,754 100,793 100,740 100,404 100,104 100,135 32,522 32,452 32,377 32,931 32,511 32,488
Durable goods industries, total............ 64,368 64,399 64,494 63,998 63,894 64,781 19,086 19,070 19,106 19,237 19,110 19,203
Stone, clay, and glass products.......... 2,265 2,272 2,296 2,216 2,167 2,228 734 748 744 743 742 750
Primary metals........................... 9,213 9,201 9,283 9,419 9,274 9,347 3,513 3,453 3,471 3,678 3,598 3,470
Machinery (electrical and nonelectrical). 23,394 23,568 23,541 23,156 23,309 24,012 6,406 6,344 6,284 6,438 6,284 6,356
Transportation equipment................. 13,673 13,515 13,425 13,616 13,595 14,078 2,885 2,864 2,862 2,873 2,884 3,239
All other durable goods industries....... 15,823 15,843 15,949 15,591 15,549 15,116 5,548 5,661 5,745 5,505 5,602 5,388
Nondurable goods industries, total......... 36,386 36,394 36,246 36,406 36,210 35,354 13,436 13,382 13,271 13,694 13,401 13,285
Chemicals and allied products............ 6,761 6,697 6,730 6,765 6,564 6,766 2,288 2,286 2,331 2,311 2,275 2,390
Petroleum and coal products............... 2,420 2,484 2,474 2,446 2,505 2,442 584 567 558 573 563 577
Rubber and plastics products, n.e.c...... 2,118 2,129 2,124 2,110 2,122 2,156 622 666 645 620 668 717
All other nondurable goods industries.... 25,087 25,084 24,918 25,085 25,019 23,990 9,942 9,863 9,737 10,190 9,895 9,601

Work in process Finished goods

All manufacturing industries, total.. 33,767 33,841 33,729 33,401 33,683 33,926 34,465 34,500 34,634 34,072 33,910 33,721
Durable goods industries, total............ 28,569 28,626 28,541 28,288 28,526 28,951 16,713 16,703 16,847 16,473 16,258 16,627
Stone, clay, and glass products.......... 287 289 290 272 266 294 1,244 1,235 1,262 1,201 1,159 1,184
Primary metals...........................*** 3,022 3,084 3,123 3,058 3,078 3,208 2,678 2,664 2,689 2,683 2,598 2,669
Machinery (electrical and nonelectrical). 10,366 10,631 10,619 10,208 10,571 11,040 6,622 6,593 6,638 6,510 6,454 6,616
Transportation equipment.................. 9,450 9,260 9,187 9,422 9,333 9,381 1,338 1,391 1,376 1,321 1,378 1,458
All other durable goods industries....... 5,444 5,362 5,322 5,328 5,278 5,028 4,831 4,820 4,882 4,758 4,669 4,700
Nondurable goods industries, total......... 5,198 5,215 5,188 5,113 5,157 4,975 17,752 17,797 17,787 17,599 17,652 17,094
Chemicals and allied products............ 883 888 875 899 876 859 3,590 3,523 3,524 3,555 3,413 3,517
Petroleum and coal products.............. 451 477 475 446 469 451 1,385 1,440 1,441 1,427 1,473 1,414
Rubber and plastics products. n.e.c...... 341 342 32R i4S 341 334 1 ss155 1.121 1.154 1 147 i.a13 1.10S










Chart 5


- Ratio of Manufacturers' Inventories to Shipments


and Unfilled Orders to Shipments, Durable Good


(Seasonally Adjusted)


industries


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


Table 5.--RATIO


OF MANUFACTURERS'


INVENTORIES


TO SHIPMENTS


AND UNFILLED


ORDERS


TO SHIPMENTS,


BY INDUSTRY


(Based


on seasonally adjusted data)


tie shi t r o Unfilled orders shipments ratio1
Inventories shipments ratio o backlog)
(months' backlog)
Industry group
Dec. Nov. Oct. Dec. Dec. Nov. Oct. Dec.
1971 1971r 1971 1970 1971 1971r 1971 1970

All manufacturing industries, total.................. 1.71 1.71 1.75 1.84 2.22 2.20 2.24 2.46
Durable goods industries, total.............................. 2.03 2.01 2.07 2.23 2.66 2.64 2.70 2.97
Stone, clay, and glass products.......................... 1.21 1.20 1.30 1.47 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.92 1.91 2.10 2.06 1.19 1.17 1.28 1.51
Fabricated metals........................................ 2.00 1.95 2.08 1.95 3.20 3.16 3.29 3.48
Machinery, except electrical............................. 2.67 2.75 2.70 3.17 2.89 2.95 2.86 3.27
Electrical machinery................ ..................... 1.99 2.14 2.16 2.27 2.96 3.21 3.21 3.22
Transportation equipment................................. 2.01 1.81 1.85 2.10 6.42 5.70 5.74 6.06
Instruments and related products......................... 2.57 2.52 2.41 2.69 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.34 1.35 1.38 1.40 0.45 0.44 0.43 0.46
Food and kindred products................................. .99 1.01 1.06 1.05 (X? (X) (X) (X)
Tobacco products......................................... 4.76 4.51 4.35 4.44 (xX) (x) () (X)
Textile mill products.................................... (2) (2) ;2) (2) (NA) (NA) (NA) (NA)
Paper and allied products................................ 1.27 1.28 1.28 1.34 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.53 1.54 1.58 1.68 (X) (X) (x) (X)
Petroleum and coal products.............................. 1.04 1.07 1.04 1.03 (X) (X) (X) (X)


GROUP











Appendix


The following is a description of the survey and
definitions used. These are provided to clarify


EXPLANATION OF TERMS


tne meaning
represent a;


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


in the


which


are received


receivable net selling values, f.o.b.


DESCRIPTION OF THE SURVEY


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-


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


lishments.


the ASM,


each


manufacturing


establishment provides data on employment, pay-


rolls,


shipments,


penditures, an
selected items.
information onr


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.


activities such as the sale of scrap and refuse;
value of installation and repair work performed by
employees of the plant; and value of research and
development performed at the plant. In the aircraft
industry and shipbuilding, the value of work done
in a given year varies considerably from the value
of shipments because of the long lead time between
the input of the materials and labor and the ship-
ments of the completed aircraft or ship. In the


annual survey.


therefore, the value of work done


The monthly


survey


M3-1 does not provide


information at the complete SIC industry detail
because of the smaller size of the reporting panel
and the fact that most companies cannot provide


shipments, inventories,
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


reporting


typically


comprises


entire


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 bother
industries within the industry group. With the ex-
ception of motor vehicles, it is not significant at


the 4-digit SIC group level.


dustry ca
industries,


te


Since the M3-1 in-


gories typically are groupings of
this duplication is significant for the


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


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


SIC industries which make up the category. Thus,
the monthly reports are used to update the ASM


and allowances.


Companies which file divisional


reports are requested to treat transfers from one




UNIVERSITY OF FLORIDA

1IWIINIII58II !IIIi U
8 3 1262 08589 4391


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 asthose orders received
for future delivery. They also include the net


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
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 for the durable and non-
durable goods sectors, it should be noted that a
finished product of one industry may be a raw
material for another industry at the next stage of
fabrication. Insofar as the durable and nondurable
goods sectors and also the 2-digit industry groups
contain industries with successive stages of
processing, the same type of commodity may be
included under different inventory categories in
the aggregate statistics.


sales
incre
filled
only
such
case
value


value of contract change documents which
ase or decrease the sales value of the uin-
orders to which they relate. Orders include
those supported by binding legal documents
as signed contracts, or letter contracts. In
of letter contracts the full amount of the sales
is included if the parties are in substantial


agreement on the amount; otherwise, only the funds
specifically authorized to be expended are in-
cluded. 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 plus net new orders
received less net sales.
While both new orders and unfilled orders are
used in reviewing individual company reports for
consistency, only unfilled orders are estimated
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 seasonallyadjusteddata
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.