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 1972
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:
AA00008477:00058

Related Items

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

Full Text

CURRENT I
- ICqa -


A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


INDUSTRIAL
-C7


Manufacturers'


Inventories,


REPORTS


Shipments,


and


Orders


July


U. S. DEPARTMENT OF COMMERCE Social and Economic Static


EAU OF THE CENSUS


FOR RELEASE:


August 30, 1972


SEP>


rn


3-1(72)-7


UNFILLED ORD1


New orders for manufactured products in July
decreased $1.25 billion or 2.0 percent to $62.48
billion from $63.73 billion (revised) in June after
seasonal adjustment. Shipments increased $775
million or 1.3percentto $62.00 billionfrom $61.23
billion in June. Unfilled orders increased $480
million or 0.6 percent to $79.09 billion at the end
of July. Manufacturers' inventories increased
$720 million or 0.7 percent to $104.22 billion at
the end of June. The inventories to shipments ratio
decreased from 1.69 to 1.68.
For the 3 months ending in July, the average
month-to-month change in new orders was a 0.4


percent increase


compared


with a 1.0 percent


increase for the 3 months ending in April and a
2.1 percent increase for the 3 months ending in
January.


Unfilled orders for durable goods increased
$495 million or 0.7 percent to $75.56 billionat the
end of July led by a $315 million increase in
primary metals.

INVENTORIES
Inventories of durable goods and nondurable
goods manufacturers increased $330 million and
$390 million respectively. At the all manufacturing
level, materials and supplies increased $170


million


, work in process decreased $20 million,


and finished goods increased $570 million.

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


advance


report


on durable goods.


The advance


report is based on a tabulation of early reports


and is limited


to statistics on shipments, new


NEW ORDERS
Revised figures indicate that new orders for
durable goods decreased $995 million or 2.8
percent to $34.62 billion. A decline in the defense


sector


accounted


for this decrease


in durable


goods new orders.


SHIPMENTS


Shipments of durable goods increased $1.00
billion or 3.0 percent to $34.13 billion. Shipments
of nondurable goods decreased $230 million or 0.8
percent to $27.87 billion.


orders,


unfilled


orders


for a


few broad


industry categories. The present report is based
on more complete reporting, but the estimates are
also considered preliminary. Final figures will
appear as historical data in the report to be
published for next month. The advance report on
durable goods for August is scheduledforrelease
on September 22, 1972 and the full report is
scheduled for release on October 3, 1972.
For an explanation of terms used inthis 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,


Washington, D.C.


20233.


SUMMARY









2
Table 1.--VALUE


OF MANUFACTURERS'


SHIPMENTS,


INVENTORIES,


AND ORDERS,


BY INDUSTRY


(Millions


of dollars)


Industry


group


All manufactup ngi ndus-
tries:
Total. ... ,. .
Total, btxcludjng trans


Durable

Stone,


Primary
Blast


port x

goods i1
$2


Nonferrous
All other

Fabricated m
total......
Metal cans


r...........


~4~.]
a.


ss products.

al......... .
feel mills.


tals..


etal


*5t*


, barre


drums............***..........*


Machinery,


Engines


except


electrical,


and turbines........


Fannrm machinery and equipment.


Construction,


mining,


material handling equipment.


Metalworking


machinery......


General industrial machinery

Electrical machinery, total...
Electrical transmission and
distribution equipment and
industrial apparatus.......
Household appliances........
Radio and TV................


Communication


equipment.....


Transportation equipment,


Motor vehicles


Aircraft,


Shipbuilding


total


and parts....


missiles,


and railroad


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


Instruments
products,


and related
total..............


Scientific and engineering..


All other instru
related product

All other durable


ments and
s.... .....


goods


Nondurable


goods industries


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

Food and kindred
total..........
Meat products.
Fats and oils.


Tobacco
Textile

Paper a


Pulp,


products,

*. a* ****
* aa a. a ..,,.** S


products.......
mill products..


nd allied


paper,


products,


etc............


Paperboard containers.......


All othe

Chemicals


r paper containers..

and allied products,


total.......


Industrial


chemcials,


except


pigments...


Drugs, s

Petroleum
Rubber and


oap,


and toiletries.


and coal products...


Shipments


Total inventories


Without seasonal Without seasonal
SSeasonally adjusted adjustment Seasonally adjusted adjustment
adjustment adjustment-


'I

53.591


2.373


2,022


nlastics nrodnrts


- I


V
A

iN'
~


1, p20
4?1^
^ 720


3,397

455


5,597
448
543

873
448
463

4,604


900
613
387
1,174

7,487
4,793

1,902

492


992
504

488


4.121


2,281


61,413

53,475

33,705

2,017


---

508


4,114


27.708


2,248


56,465


4,626
2,271
1,708
647


3,100

472


5,190
319
461

867
432
443

4,340


833
643
399
1.093


1,840

501


991
489

502


3,799


26.519


65,193

56,902

36,047

2.154


3,647

515


6,104
528
594

957
470
509

4,952


971
690
448
1,270

R 2fll


1,902

517


1,068
548

520


4,340


29.146


S 547
2,581


2,473
975
746
752


5,014


51,503

46,060

26,999

1,662


498
1,742


1,979
813
595
571


4,095

1,347
1,166

2,142


104,224

88,227

67,759

2.299


o'to


7,170

703


2.088


2,224


103,505

87,586


7.220


9,986


2,184
1,047
849
2,914

15,919
4,140

9,087

2,053


2,486
1,484


6.690


102,822

87,100

67,035

2.260


3,456
860


7,185

722


13,396
1,251
1,122

2,501
1,141
1,144

9,968


2,189
1,048
809
2.934


2,749
1,044
826
879


6,663


103,782

88,056

67,601

2.320


6,766

1,909
2,205

2,215


103,669

88,056

67,570

2.330


1,043


6,441


36,099


8,866
841
693


2,188


GROUP


100,914













OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


All manufacturing
tries:
Total..........


Total,


excluding


portation.......


Durable- goods


Primary


industries,


indus-


trans-
* .....

total.


metals,


Blast furnaces


Nonferrous

Fabricated m

Machinery, e


Engines


total.i......

- steel mills.


metals.....


etal products....


xcept


electrical,


and turbines0.......


mining,


Construction,


material handling equipment.
Metalworking machinery......
General industrial machinery.


Electrical ma

Electrical
distribute
industrial
Household a


chinery,


total...


transmission and
on equipment and
Sapparatus.......
ppliances........


Radio and TV................


Communication

Transportation


* equipment.....

equipment,


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


Aircraft,


Shipbuilding


All other durable


missiles,


and railroad


goods


industries........... ........


Nondurable


goods industries,


total6.** a*** 99..*..*...... 9.

Industries with unfilled
orders......................a


Industries


without


unfilled


orders.......................


New orders2


Unfilled


orders'


Without seasonal Without seasonal
Seasonally adjusted aiut esnai Seasonally adjusted adjustment
adjustment 'djustment


3,456


5,795

348

931
502
470

4,669



1,023
624
421
1.054


8.415


597


6,950


27,861


20.275


63.734


3.505


L. J.


8,781


3,300

415


7,187


28,121


7,668

20.453


62,012

54,145

34,302

5.339


78,608

54,775

75,064

7.242


9,557


13,258

3.572


- Represents
'Adjusted fo


liminary.


r trading-day


and calendar-month


Revised.


variations.


tShipments,
metal products,


middle of
763-7557.


new orders and
transportation


September.


However,


unfilled o
equipment,


anyone


rders


durable


wishing


data have been revised


goods tot


the historic


from 1966 to 1972 effective


al, and all manufacturing
data prior to issuance of


totals.
the errat


with the July publication


An errat
a sheet


sheet will


can call


be published


area code,


for fabricated


during


301-763-7108













Table 2.-VALUE


OF MANUFACTURERS'


SHIPMENTS


, INVENTORIES,


(Millions


AND ORDERS,
of dollars)


FOR MARKET


CATEGORIES


AND SUPPLEMENTARY


SERIES


Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted -adjustment
adjustment1 adjustment
Industry group
July June May July June July July June May July June July
1972P 1972r 1972 1972P 1972r1 1971 1972P 1972r 1972 1972P 1972r 1971

Shipments Total inventories


All manufacturing industries, total.. 62,004 61,231 61,413 56,465 65,193 51,503 104,224 103,505 102,822 103,782 103,669 100,914

Durable goods industries, total............ 34,131 33,129 33,705 29,946 36,047 26,999 67,759 67,427 67,035 67,601 67,570 66,033
Nondurable goods industries, total......... 27,873 28,102 27,708 26,519 29,146 24,504 36,465 36,078 35,787 36,181 36,099 34,881

Industry groups arranged by market
categories:
Home goods and apparel................... 6,174 6,235 6,242 5,819 6,490 5,249 11,464 11,288 11,113 11,692 11,763 10,840
Consumer staples......................... 11,782 11,994 11,918 11,330 12,281 10,490 14,178 13,931 13,780 13,796 13,648 13,179
Equipment and defense products, except
automotive.............................. 9,100 8,890 9,017 8,344 9,523 7,120 26,848 26,744 26,597 26,836 26,813 26,325
Automotive equipment..................... 6,243 5,526 5,835 4,055 6,351 3,904 5,636 5,533 5,499 5,310 5,260 5,202
Construction materials, supplies, and
intermediate products................... 5,393 5,447 5,496 5,354 5,970 4,766 8,208 8,181 8,164 8,258 8,282 8,305
Other materials and supplies and
intermediate products................... 23,312 23,139 22,905 21,563 24,578 19,974 37,890 37,828 37,669 37,890 37,903 37,063

Supplementary series:2
Household durable goods industries....... 2,897 2,841 2,913 2,595 3,007 2,111 5,290 5,220 5,171 5,376 5,370 5,061
Capital goods industries................. 10,680 10,389 10,448 9,787 11,072 8,350 30,174 30,116 29,939 30,193 30,205 29,731
Nondefense............................. 8,878 8,750 8,694 8,086 9,313 6,643 24,469 24,476 24,326 24,404 24,524 24,727
Defense............................... 1,802 1,639 1,754 1,701 1,759 1,707 5,705 5,640 5,613 5,789 5,681 5,004

New orders Unfilled orders


All manufacturing industries, total.. 62,481 63,734 62,012 57,881 66,733 52,068 79,087 78,608 76,103 79,029 77,619 71,775

Durable goods industries, total............ 34,620 35,613 34,302 31,392 37,592 27,555 75,558 75,064 72,579 75,470 74,028 68,728
Nondurable goods industries, total......... 27,861 28,121 27,710 26,489 29,141 24,513 3,529 3,544 3,524 3,559 3,591 3,047

Industry groups arranged by market
categories:
Home goods and apparel................... 6,088 6,318 6,359 5,773 6,602 5,415 2 519 2,607 2,53 2,658 2,612 2,248
Consumer staples......................... 11,780 11,978 11,915 11,324 12,267 10,493) '
Equipment and defense products, except
automotive.............................. 8,890 10,501 8,895 9,184 10,773 8,000 40671 40,785 39,199 40,896 39,928 37,802
Automotive equipment..................... 6,335 5,499 5,782 4,182 6,275 3,968
Construction materials, supplies, and
intermediate products................... 5,462 5,544 5,47C 5,352 6,063 4,803 9,544 9,474 9,379 9,553 9,558 9,722
Other materials and supplies and
intermediate products................... 23,926 23,894 23,587 21,966 24,752 19,389 26,353 25,742 24,986 25,922 25,521 22,003

Supplementary series:2
Household durable goods industries....... 2,802 2,925 3,012 2,646 3,127 2,285 2,068 2,162 2,077 2,202 2,152 1,885
Capital goods industries................. 10,711 12,172 10,561 10,832 12,41 9,32S 46,673 46,637 44,853 46,862 45,816 42,930
Nondefense............................. 9,225 9,228 9,030 8,466 9,667 6,571 26,673 26,322 25,842 26,653 26,273 25,444
Defense ............................... 1,486 2,944 1,53' 2,367 2,75 2,758 20,00C 20,315 19,011 20,209 19,543 17,486


*During 1
gate figures
included in
variations;


968 manufacturers


in ordnance,


on shipments, orders,
the defense series.


unfilled


orders


communications,


and total inventor
Preliminary.


and inventories


aircraft


and aircraft


of work performed


Revised.


as of end of month.


-Shipments


parts,


and shipbuildin


for the Department


new orders


supplementary


series


of Defense
adjusted


g industries be
e. The results
for trading-day


are regroupings


gan to


provide


aggre-


of these reports a
and calendar-month


of the separate


industry


categories


as follows:


Household


durable


goods


industries


- Household


furniture;


kitchen


articles


and pottery;


cutlery,


handtools,


and hardware;:


household


appliances;


Capital


goods


Products
Nondefense


ophthalmic
industries


(old series)
products M


goods, watches,
- The capital g
categories.


[achinery,


except


and clocks; and


oods


industries


electrical


miscellaneous


series


(excluding


personal


is comparable


farm machinery


goods.


to the previous


and equipment


Producers


and machine


Capital

shops),


Goods and the Defense


electrical


machinery


(excluding
equipment,


Defense


household


appliances


communication


products


communications,


- Based o
aircraft


equipme
n separa
and air


and electronic
nt, aircraft a
te reports on
craft parts, a


components),


nd aircr
defense


aft


and the nondefense


parts,


portions


of shipbuilding


and repairing


and railroad


and ordnance.


work filed by large defense


nd shipbuilding.


contractors


The data are comparable


in the following


to those published


industries:


annually in the


ordnance,
MA-175,


Industries, for the specified industries.












Table 3.--MANUFACTURERS


(Based


on seasonally


adjusted


Month-to-month Average monthly rates of change Average, 1966.1971

Item and industry group June- May- Apr.- 3 months 12 months
July June May Average Average
1972 1972 1972 Apr. 1972- Jan. 1972- Oct. 1971- July 1971. rise decline
___________________________________ _________________July 1972 Apr. 1972 Jan. 1972 July 1972
Shipments:
All manufacturing industries.......... +1.3 .0.3 +0.3 +0.4 +1.1 +1.9 +0.9 +1.3 -1.2

Durable goods industries, total......... +3.0 -1.7 +0.4 +0.6 +1.6 +2.1 +1.2 +2.1 -1.8
Nondurable goods industries, total...... -0.8 +1.4 +0.3 +0.3 +0.5 +1.7 +0.7 +0.8 -0.5

Total inventories:
All manufacturing industries.......... +0.7 +0.7 +0.4 +0.6 +0.2 0.0 +0.3 +0.5 -0.2

New orders:
All manufacturing industries.......... .2.0 +2.8 +0.5 +0.4 +1.0 +2,1 +1.1 +1.9 -1.2
Durable goods industries, total......... -2.8 +3.8 +0.9 +0.6 +1.5 +2.4 +1.4 +2.9 -2.6
Nondurable goods industries, total...... -0.9 +1.5 +0.1 +0.2 +0.4 +1.7 +0.7 +0.9 -0.5

Unfilled orders:
Durable goods industries, total......... +0.7 +3.4 +0.8 +1.6 +0.7 +0.5 +0.8 +0.8 -1.1












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

(Millions of dollars)

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
1972 1972 1972 1972 1972r 1971 1972 1972r 1972 1972 1972r 1971


All manufacturing


Durable


goods industries,


Stone, clay,


Primary m
Machinery


industries


total..


total....


and glass products.


(electrical


Transportation
All other durat


Nondurable
Chemicals
Petroleum
Rubber an


and nonele


equipment........


.........
.......,..
ctrical),.
.*........


goods industries.......


goods industries,


and allied


total........ .


products..,,..... .


and coal products......,.......


d plastics


All other nondurable



All manufacturing


Durable


products,


goods industries...


industries,


total.


goods industries,


Stone, clay,


Primary
Machine


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


metals...........................


(electrical


Transportation eq
All other durable


Nondurable
Chemicals
Petroleum
Rubber an


and nonelectrical).


uipment...,.....,......


dustries.......
total .........


goods industries,


and allied


products.........,.*


and coal products..........,..


d plastics


All other nondurable


products,


n.e.c......


goods industries....


Total


104,224
67,759
2,299
9,716
23,536
15,997
16,211
36,465
6,753
2,224
2,284
25.204


103,505
67,427
2,282
9,696
23,431
15,919
16,099
36,078
6,690
2,213
2,252
24,923


102,822
67.035


23,364
15,722
16,089
35,787
6,663
2,208
2,274
24,642


24.955


103,669
67,570
2,330
9,567
23,660
15,613
16,400
36.099


66,033


23.789


Materials


30,948
17,958


and supplies


_____________________ ____________________ Work in process ____________________ ____________________ J ___________________ _____________________ Finished goods ___________________________________________


36,293
31,103
310
3,156
10,537


5.190


17.859


17,780


11,692


18,111


PPreliminary.
Revised.


y


goods












INVENTORIES TO SHIPMENTS AND UNFILLED ORDERS TO SHIPMENTS, BY INDUSTRY GROUP


(Based


on seasonally adjusted data)


nntoie i e rUnfilled orders shipments ratio1
Inventories shipments ratio
(months' backlog)
Industry group
July June May July July June May July
1972 1972r 1972 1971 1972p 1972r 1972 1971

All manufacturing industries, total.................. 1.68 1.69 1.67 1.83 2.13 2.14 2.06 2.17
Durable goods industries, total............................ 1.99 2.04 1.99 2.22 2.57 2.58 2.47 2.62
Stone, clay, and glass products.......................... 1.20 1.16 1.12 1.38 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.94 1.95 1.95 1.76 1.51 1.46 1.37 1.06
Fabricated metals........................................ 2.17 2.13 2.09 2.45 3.40 3.28 3.20 3.63
Machinery, except electrical............................. 2.37 2.40 2.41 2.85 2.41 2.43 2.38 2.52
Electrical machinery..................................... 2.13 2.17 2.13 2.41 3.02 3.11 3.03 3.38
Transportation equipment..................,,............. 1.90 2.13 1.98 2.29 5.45 5.76 5.21 5.77
Instruments and related products.......,................. 2.35 2.51 2.47 2.35 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.31 1.28 1.29 1.37 0.46 0.46 0.47 0.45
Food and kindred products................................ 1.02 0.99 0.98 1.04 (X) (X) (X) (X)
Tobacco products.................. ....................... 4.35 4.37 4.37 4.31 (X) (X) (X) (X)
Textile mill products.................................... 1.62 1.56 1.66 1.81 (NA) (NA) (NA) (NA)
Paper and allied products............................... 1,17 1.16 1.17 1.30 (NA) (NA) -(NA) (NA)
Chemicals and allied products............................ 1.43 1.40 1.44 1.55 (X) (X) (X) (X)
Petroleum and coal products.............................. 0.93 0.97 0.98 1.04 (X) (X) (X) (X)
Rubber and plastics products, n.e.c...................... 1.60 1.56 1.56 1.54 (X) (X) (X) (IX)


(NA) Not available.


Preliminary.


Revised.


'Excludes the following industries with no unfilled


(X)
order:


Not applicable.
Wooden containers;:


glass containers; metal


cans,


barrels


and drums; motor


vehicle assembly operations; foods and related products; tobacco; apparel and related products; chemicals; petroleum and coal products; and
rubber and plastics products, n.e.c.









Appendix


The following is a description of the survey and


definitions used.


EXPLANATION OF TERMS


These are provided to clarify


the meaning
represent ai


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


DESCRIPTION OF THE SURVEY


in the


ASM


which


are received


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, cost of materials, capital ex-


penditures, an
selected items.
information onr


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.


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 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, and orders data monthly
for individual establishments.


The monthly reporting panel consists of ap-
proximately 5,000 reporting units and includes
virtually all companies with 1,000 or more em-
ployees and a sample of the smaller ones. The


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 materialsbyother
industries within the industry group. With the ex-
ception of motor vehicles, it is not significant at
the 4-digit SIC ground level. Since the M3-I in-


- 0 -- -


dustry cal
industries,


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


reporting


unit typically


comprises


the entire


operations of a company although many of the
larger diversified companies file separate divi-
sional type reports for their operations indifferent
industries.


Most of the reporting units include mixed
industry activity even within the broad industry


categories of the monthly survey. The survey
methodology assumes that the month-to-month
changes of the reporting units classified in each
industry category represent effectively the month-


to-month movements of the establishments in the
SIC industries which make up the category. Thus,
the monthly reports are used to update the ASM


estimates


using


companies in each industry.


a link relative of matched


all manufacturing, durable goods and nondurable
goods categories and the various market groups.
The significance of the duplication within the
specific M3-1 industry groups varies depending on
the 4-digit industry composition of these groups.
It is most pronounced in a few highly integrated
industry areas such as primary metals and motor
vehicles and parts.

Since most monthly reports are for the entire
company or major divisions rather than establish-
ments, the companies are requested to report net
sales, i.e., total company billings after discounts


and allowances.


Companies which file divisional


reports are requested to treat transfers from one
division of the company to another as if they were


net sales


to outside customers.


Although this


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*




UNIVERSITY OF FLORIDA

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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, "at book 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. 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) m
inventories.


materials,


sur


In using


plies, 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


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
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


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.


derived


New orders are


from the shipments plus net change in


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.


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.