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:
January 1973
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:
AA00008477:00063

Related Items

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

Full Text

CURRENT INDUSTRIAL REPORTS


A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


Manufacturers'


,*- Inventories,
iv nr '


Shipments,


and


Orders


January


1973


EPAfTMNT OF COMMj *I Social and Economic Statistics Administration BUREAU OF THE CENSUS
0w9< -.^i^A


FOR RELEASE:


SERIES:


M3-1(73)-1


SUMMARY


$65 million


or 0.2 percent to $30.07 billion in


for manufactured


January increased $2.35 b
$270.02 billion from $67.6'
aer seasonal adjustment.
increased $2.26 billion o0
billion from $66.39 billion
bzders increased $1.39 b:
$86.62 billion at the end
turers' inventories increa
cent to $107.26 billion
fhe inventories to shipmen
1A61 to 1.56.


products in


million or 3.5 percent to
7 billion in December,
Shipments in January
: 3.4 percent to $68.64
in December, Unfilled
million or 1.6 percent to


of January.


January. In January, increases in shipments in
paper and allied products ($190 million), printing
and publishing ($140 million) and rubber and
plastic products ($70 million) were partially
offset by decreases infoodproducts ($240million)
and chemicals ($155 million).

UNFILLED ORDERS


Manufac-


sed $213 million or 0.2
at the end of January.
ts ratio decreasedfrom


Unfilled orders of durable goods increased
$1.24 billion or 1.5 percent to $82.47 billionat the


end of January.


The increases in unfilled orders


were led by nonelectrical machinery ($445 mil-
lion) and primary metals industries ($305 million).


SFor t1
average
increased


months


ml<


ending


in January,


month to month change in new orders
2.3 percent, compared with a 1.7


percent increase from the 6 months ending in
october and a 0.3 percent increase for the 3
months ending in July.

NEW ORDERS

New orders for durable goods increased $2.24
billion or 6.0 percent to $39.80 billion inJanuary.
Increases in motor vehicles and parts ($1.11
billion), aerospace industries ($335million), non-
electrical machinery ($205 million) and ship-
building and railroad equipment ($150 million).

SHIPMENTS

Shipments of durable goods increased $2.19
billion or 6.0 percent to $38.57 billion in January.
The January increase was led by motor vehicles
and parts ($975 million), electrical machinery
?($365 million) and nonelectrical machinery ($305
million). Shipments of nondurable goods increased


INVENTORIES


Inveni
million
creased


stories of durable goods increased $225
as inventories of nondurable goods de-


million


in January.


At the all


manufacturing level, materials and supplies in-
creased $390 million, work inprocess inventories
decreased $90 million and finished goods inven-
tories decreased $80 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 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 February is scheduled
for release on March 21, 1973 and the full
report is scheduledfor release on March 30,1973.


For an explanation of terms
'report see appendix following table


in this


1It should be noted


that new orders for the motor


Vehicles industry are not reported as such but


estimated as equal to shipments.


are


Hence a sizeable


4nnronen 4. e "4 nmfln.r. ~ ~..J 1.. --


Inquiries concerning these figures should be
addressed to the U.S. Department of Commerce,
Social and Economic Statistics Administration,
fl sl"/ran ,i thor -li fl *n~ne r, 1-ni citii^irtr fl4n4c.n~nI/\r lXfin ni,.


orders


.^












Table 1.--VALUE


(Millions


of dollars)


Industry


group


All manufacturing


Total,


excluding


indus-


trans-


portation


Durable g

Stone, c

Primary


goods industries,


total.


lay, and glass products.


metals,


tot


Blast furnaces, s
Nonferrous metals
All other primary


Fabricated
total....
Metal ca
drums..

Machinery,


al .........
teel mills.

metals....


metal products

ns, barrels, and
.........,......,


except


electrical


total........................
Engines and turbines0.......
Farm 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, t
Scientific


and related
otal.............
and engineering.


All other instruments
related products....

All other durable good
industries............


Nondurable


goods


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

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


Tobacco
Textile


s


industries


products,


products....
mill products


Paper and allied


Pulp, paper,
Paperboard c
All other pa

Chemicals and


products,


etc.......... .
ontainers.......


tper

alli


containers..

ed products,


total....,.... ... ...... .*..*


Industrial


Drugs,


soap,


chemcials,


except


and toiletries


Shipments


Total inventories


Seasonally adjusted Without seasonal Without seasonal
Seasonally adjusted adt Sebsonally adjusted a
adjustment adjustment-


538
2,506


2,609
1,098
778
733


5,078

1,632
1,424

0 ^rt/n


3,473


4,9ez


28,124


9,212


48,049.

29,535<

1.628


Z07, 260


6.857


90,323


4>


1,055


6,702


36,903


9,294
834
728

2,456
3,842


2 799
1,004
841
954


6,846


S9,366

2,222


-A .. I ~ A -' 4 I ~S *.~5 A


106,645

90,010

69,696

2.323


102,098

86,718

66,134

2.264


total..* *..,.......-.


** *


GROUP











OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


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


Total,


excluding


indus-


trans-


portation..,o...


Durable g

Primary


oods industries,


metals,


Blast furnaces,


Nonferrous

Fabricated m

Machinery, e


Engines


total..


total.

.......


steel mills.


metals.........

metal products.....


xcept


electrical,


and turbines.....**..


Construction,


mining,


material handling equipment.


Metalworking


machinery.*....


General industrial machinery.


Electrical m8

Electrical
distributi
industrial
Household a


chinery,


total...


transmission and
on equipment and
apparatus.......
ppliances........


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


Communication

Transportation


Aircraft,


S


All


equipment.....

equipment,


missiles,


parts.***.....*.............
Shipbuilding and railroad
equipment.................

other durable goods


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


Sondurable


Industries


Industries


goods industries,


with unfilled


without


unfilled


New orders


Unfilled


orders


Without seasonal Without seasonal
Seasonally adjusted adjustmentI Seasonally adjusted adjUstment
"'adj ustment' adjustment1

Jan. Dec. Nov. Jan. Dec. Jan. Jan. Dec. Nov. Jan. Dec. Jan.
1973 1972r 1972 1973 1972r 1972 1973p 1972r 1972 1973p 1972r 1972


3,811


6,583

714

1,118
502
543

5,189



1,013
719
480
1,218


8,480


2,054

576


7,531


30,106


7,951

22,155


67,587

58,738

37,619

5,914

3,008
2,132

3,417


6,423

591

1,055
500
526

5,322



1,044
704
518
1,314


8,849


2,178

472


7,694


29,968


8,049

21,919


56,620


83,947


15,157



4,311
152
707
5,877


24,922


16,645

5,467


6,471


3,900


3,900

I


15,245



4,406
141
617
5,836


25,594


16,783

5,654


6,421


4,076


4,076


84,611
59,546

80,665

8,277


- Represents


1'Preliminary.


Revised.


IAdjusted for trading-day and calendar-month










Table 2.--VALUE


OF MANUFACTURERS'


SHIPMF2CrS,


INVENTORIES,


(Millions


AND ORDERS,
of dollars)


FOR MARKET


CATEGORIES


AND SUPPLEIENTARY


SERIES


During
gate figure
included in
variations;
categories


1968 manufacturers in ordnance, communications, aircraft and aircraft parts, and shipbuilding industries began to


s


on shipments,


the defense


unfilled


orders,


series.


orders


and total inventories
PPreliminary. rR


and inventories


of work performed


evised.


as of end of month.


for the Departme


'Shipments


new orde


supplementary


nt of Defense.
rs adjusted fo


series


The results
r trading-day


are regroupings


provide


aggre-


of these reports a
and calendar-month


of the separate


industry


as follows:


Household


durable


appliances;


goods


ophthalmic


industries
goods, wa


- Household


tches,


furniture;


and clocks;


kitchen


articles


and miscellaneous


and pottery;


personal


cutlery,


handtools,


and hardware;


household


goods.


Capital
Produc
Nondefen
(exclu
equipm
Defense


goods industries -
ts (old series) ca
se products Mach
ding household app
ent, communication


products


communications,


The capital
tegories.


inery,
liances


equipment,


- Based on separate


aircraft


and aircra


except


goods


industries


electrical


and electronic


aircraft
reports o
ft parts,


series


(excluding
components ,


and aircraft
n defense wor


is comparable


farm machinery and
and the nondefense


parts,


to the previous


equipment
portions


Producers


Capital


and machine shops),
of shipbuilding and


Goods and the Defense


electrical
repairing


machinery
and railroad


and ordnance.


k filed by large


and shipbuilding.


defense


contractors


The data are comparable


in the following


to those published


industries:


annually


ordnance,


in the MA-175,


Shipments of Defense-Oriented Industries,










AND LONG TERM PERCENT


Table 3.--MANUFACTURERS'


(Based


on seasonally


adjusted


Month-to-month Average monthly rates of change Average, 1967-72

_...3 months 12 months
Item and industry group Dec.1972- Nov.1972- Oct.1972- 3 months 12 months Average Average
Jan.1973 Dec.1972 Nov.1972 Oct.1972- July1972- Apr.1972- Jan,1972 rise decline
Jan.1973 Oct.1972 Julyl972 Jan.1973


Shipments:
All manufacturing industries........ 43.4 -0.2 +2.8 42.0 +1.7 +0.2 +1.3 +1.3 -1.2

Durable goods industries, total........ +6.0 -1.0 +1.8 +2.3 +2.2 +0.3 +1.6 +1.9 -1.9
Nondurable goods industries, total..... +0.2 +0.7 +4.1 +1.7 +1.0 +0.2 40.9 +1.0 -0.5

Total inventories:
All manufacturing industries......... +0.2 +0.6 +0.3 +0.4 +0.7 +0.5 +0.4 +0.5 -0.2
New orders:
All manufacturing industries......... 43.5 +0.1 +3.3 +2.3 +1.7 +0.3 +1.3 +1.9 -1.3
Durable goods industries, total........ +6.0 '0.2 +2.3 +2.7 +2.2 +0.5 +1.7 +2.8 -2.4
Nondurable goods industries, total..... +0.4 +0.5 +4.4 +1.8 +1.0 +0,2 +0.9 +1.0 -0.6
Unfilled orders:
Durable goods industries, total........ +1.5 +1.5 +1.1 +1.4 +1.5 +1.7 +1.3 +0.9 -1.2











Table 4.-VALUE OF MANUFACTURERS' INVENTORIES, BY STAGE OF FABRICATION, BY INDUSTRY GROUP
(Millions of dollars)

Without seasonal Without seasonal
Seasonally adjusted au eSeasonally adjusted
adjustment adjustment
Industry group
Jan. Dec. Nov. Jan, Dec. Jan. Jan. Dec. Nov. Jan. Dec. Jan.
1973p 1972r 1972 1973p 1972r 1972 1973p 1972r 1972 1973p 1972r 1972

Total Materials and supplies

All manufacturing industries, total... 107,260 107,047 106,371 107,544 106,645 102,098 34,068 33,679 33,548 34,246 34,141 32,847
Durable goods industries, total............ 70,369 70,144 69,641 70,269 69,696 66,134 20,114 19,870 19,812 20,042 20,055 19,083
Stone, clay, and glass products.......... 2,352 2,381 2,378 2,357 2,323 2,264 788 772 790 785 797 770
Primary metals........................... 9,571 9,619 9,617 9,717 9,806 9,473 3,584 3,465 3,460 3,625 3,645 3,613
Machinery (electrical and nonelectrical). 24,924 24,552 24,267 24,727 24,340 23,079 6,819 6,625 6,515 6,756 6,633 6,205
Transportation equipment.................. 16,687 16,724 16,581 16,782 16,635 15,380 2,677 2,734 2,807 2,712 2,770 2,791
All other durable goods industries....... 16,835 16,868 16,798 16,686 16,592 15,938 6,246 6,274 6,240 6,164 6,210 5,704
Nondurable goods industries, total......... 36,891 36,903 36,730 37,275 36,949 35,964 13,954 13,809 13,736 14,204 14,086 13,764
Chemicals and allied products............ 6,857 6,846 6,831 6,902 6,868 6,718 2,376 2,315 2,318 2,392 2,339 2,306
Petroleum and coal products.............. 2,134 2,200 2,264 2,148 2,232 2,250 527 533 -532 534 534 531
Rubber and plastics products, n.e.c...... 2,310 2,332 2,277 2,322 2,333 2,187 637 661 645 631 661 618
All other nondurable gods industries.... 25,590 25,525 25,358 25,903 25,516 24,809 10,414 10,300 10,241 10,647 10,552 10,309

Work in process Finished goods

All manufacturing industries, total.. 38,251 38,349 37,921 38,255 37,884 35,228 34,941 35,019 34,902 35,043 34,620 34,023
Durable goods industries, total............ 32,643 32,693 32,321 32,628 32,356 29,857 17,612 17,581 17,508 17,599 17,285 17,194
Stone, clay, and glass products......,... 280 307 301 280 287 286 1,284 1,302 1,287 1,292 1,239 1,208
Primary metals...............,........... 3,278 3,336 3,303 3,355 3,354 3,146 2,709 2,818 2,854 2,737 2,807 2,714
Machinery (electrical and nonelectrical). 11,028 10,985 10,847 10,985 10,881 10,136 7,077 6,942 6,905 6,986 6,826 6,738
Transportation equipment................. 12,815 12,786 12,537 12,837 12,673 11,153 1,195 1,204 1,237 1,233 1,192 1,436
All other durable goods industries....... 5,242 5,279 5,333 5,171 5,161 5,136 5,347 5,315 5,225 5,351 5,221 5,098
Nondurable goods industries, total., ...... 5,608 5,656 5,600 5,627 5,528 5,371 17,329 17,438 17,394 17,444 17,335 16,829
Chemicals and allied products............ 1,070 1,056 1,050 1,070 1,069 1,018 3,411 3,475 3,463 3,440 3,460 3,394
Petroleum and coal products.............. 467 463 484 461 456 474 1,140 1,204 1,248 1,153 1,242 1,245
Rubber and plastics products, n.e.c...... 375 376 360 375 379 333 1,298 1,295 1,272 1,316 1,293 1,236
All other nondurable goods industries.... 3,696 3,761 3,706 3,721 3,624 3,546 11,480 11,464 11,411 11,535 11,340 10,954


PPrel iminary.
rRevised.


data)











Table 5.--RATIO OF MANUFACTURERS' INVENTORIES TO SHIPMENTS AND UNFILLED ORDERS


(Based


on seasonally adjusted data)


Unfilled orders shipments ratio'
Inventories shipments ratio bclg
(months' backlog)
Industry group
Jan. Dec. Nov. Jan. Jan. Dec. Nov. Jan.
1973P 1972r 1972 1972 1973 1972r 1972 1972

All manufacturing industries, total................. 1.56 1.61 1.60 1.72 2.09 2.21 2.11 2.09
Durable goods industries, total............................ 1.82 1.93 1.89 2.07 2.48 2.65 2.51 2.52
Stone, clay, and glass products.......................... 1.07 1.12 1.11 1.20 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.66 1.60 1.67 1.98 1.52 1.41 1.48 1.27
Fabricated metals........................................ 2.06 2.17 2.16 2.27 3.23 3.39 3.28 3.34
Machinery, except electrical............................. 2.24 2.34 2.35 2.55 2.52 2.57 2.52 2.42
Electrical machinery..................................... 1.99 2.08 2.03 2.05 2.84 3.07 2.99 2.92
Transportation equipment................................. 1.73 1.99 1.88 2.07 5.09 5.75 5.46 5.51
Instruments and related products......................... 2.24 2.39 2.33 2.50 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.23 1.23 1.23 1.31 0.51 0.51 0.49 0.44
Food and kindred products................................ 0.96 0.92 0.94 1.01 (X) (X) (X) (X)
Tobacco products......................................... 4.50 4.68 4.35 4.29 (X) (X) (X) (X)
Textile mill products.................................... 1.55 1.52 1.59 1.67 (NA) (NA) (NA) (NA)
Paper and allied products............................... 1.08 1.16 1.14 1.19 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.35 1.31 1.37 1.44 (X) (x) (X) (X)
Petroleum and coal products.............................. 0.84 0.87 0.91 1.01 (X) (X) (X) (X)
Rubber and plastics products, n.e.c...................... 1.47 1.55 1.47 1.51 (x) (X) (X) (X)


(NA) Not available.


PPrelimi


nary.


'Excludes the following industries with


rRevised.


no unfilled order:


Not applicable.
Wooden containers;


glass containers; metal


cans,


barrels


and drums;


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.


motor











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


in the


ASM


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.


In 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.


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 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


reporting


typically


comprises


the entire


operations of a company although many of the
larger diversified companies file separate divi-
sional type reports for their operations in different


industries.

Most of the reporting


units


include


mixed


industry activity even within the broad industry
categories of the monthly survey. The survey
methodology assumes that the month-to-month
changes of the reporting units classified in each
industry category represent effectively the month-
to-month movements of the establishments in the
SIC industries which make up the category. Thus,
the monthly reports are used to update the ASM


estimates


using


companies in each industry.


a link relative of matched


during the year is requested rather than the value
of shipments.

The value of shipments figures developed from
the ASM contain duplication at the all manufac-
turing and industry group levels since the products
of some industries are used as materials by other
industries within the industry group. With the ex-
ception of motor vehicles, it is not significant at
the 4-digit SIC group level. Since the M3-1 in-


dustry cat
industries,


te


sgories typically are groupings of
this duplication is significant for the


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

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


and allowances.


Companies which file divisional


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


net sales


to outside customers.


Although this




UNIVERSITY OF FLORIDA
Ii II 1 I iii mil101I i 1111
8 3 1262 08589 4516
8


definition of shipments in the monthly reports
differs from that used in the annual establishment


reports,


it is assumed that the month-to-month


changes in company sales in the industry are
representative of the month-to-month shipments
of the establishments in the industry.


Inventories--End-of-month inventories in the
monthly survey are identical in definition to the


end-of-year inventories in the ASM.


In the ASM,


respondents are asked to report inventories of
individual establishments at approximate current
cost if feasible; otherwise, "atbookvalues. Since
different methods of inventory valuation are used
(LIFO, FIFO, etc.), the definition oftheaggregate
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 sta
ge of fab


cation:


and (c)
inventories


i-


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


materials,


using


supplies,


inventories


and other
by stage of


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


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 ro 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


received less net sales.


new orders


While both new orders and unfilled orders are
used in reviewing individual company reports for


consistency,


only unfilled orders are estimated


durable goods sectors,


finished


it should be noted that a


product of one industry may be a raw


material for another industry at the next stage of


fabrication.


Insofar as the durable and nondurable


goods sectors and also the 2-digit industry groups


contain


industries


successive


stages


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


directly in the tabulated totals.


derived


New orders are


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.