A UNITED STATES
U. S. DEPARTMENT OF COMMERCE Social and Economic Statistics Administration BUREAU OF THE CENSUS
F POR RELEASE: July 2, 1973
New orders f
hi1%fli from $73
~ a~fi~nexit. S
ion or 0.7
Stl billion or
4 -rd of M
bD ion at the
p eents ratio
tpr the 3m
month to month
I I4pfceiet cdm
f.... tfr l3 mont
IiN si ^.K^~B/plr Il V f
il ( 4tiTN *"-''- .I^ LC l
for manufactured products in May
million or 1.0 percent to $74.06
1.32 billion in April after seasonal
hipments in May increased $475
percent to $70.94 billion from
Unfilled orders increased
* 3.3 percent to $98.47 billion at
ay. Manufacturers' inventories
million or 0.8 percent to $111.47
end of May. The inventories to
remained unchanged at 1.57.
months ending in May, the average
change in new orders increased
pared with a 1.9 percent increase
hs ending in February and a 1.2
se for the 3 months ending in
decreased $45 mi ,'.:
billion in May. ,
UNFILLED ORD *W
Unfilled orde i ural
$3.06 billion or V'r.cent
the end of May. i eq
was led by primary'
electrical machinery ($fa
metal products ($435 million
of durable goods and nondurable
d $680 million and. $210 million
ay. At the all manufacturing
and supplies increased $560
durable goods increased $900
:ent to $42.24 billion in May.
led by increases in fabricated
30 million), aircraft and parts
primary metals ($300million).
I ihige increases were partially offset by a $395
decrease in the shipbuilding and railroad
j ent industry. Among the supplementary
seri, new orders for household durables de-
craased $110 million to $2.97 billion in May and
KKKKjKKKKKK ^K ^^KKK. ?--S < .. ..^*'
th capital goods industries increased $175 million
*as a increase in the nondefense sector ($285
million) was partially offset by a decrease ($110
million) in the defense sector.
rf lnya m
trcent to $39.17 billion in May.
increase was led by increases in
etals ($170 million), motor vehicles
($135 million), aircraft and parts
million, work in process inventories increased
$200 million and finished goods inventories in-
creased $130 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 June is
scheduled for release on July 23, 1973 and the full
report is scheduled for release on August 1, 1973.
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.
for May and prior months in this report are based on a revision of the monthly
MS series on shipments and orders. The monthly series has been benchmarked to the Annual
Survey of Manufactures for the years 1970 and 1971 and new seasonal factors calculated. The
ranie'aA G4 nnran.. lOAi7 ~nt.n4. bA~4-~i, .tO'70 .afl t.-. .~Lfl-L.J A. a. L. i*--1-- d
NE W ORDERS
m oor 2.2 2perc
The increase was
7i.4 Vroducts ($4/
($380 million) and p
Table 1.--VALUE OF MANUFACTURERS'
Stone, clay, and glass products.
tot 1al..... ..,........
Farm machinetyand equipment.
Construction, mining, and
material handling equipment.
on equipment and
Radio and TV................
Shipbuilding and railroad
Food and kindred
Fats and oils..
nd allied products,
Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment
.,n tu.b. a. ,
, steel mills.
Construction, mining, and
material handling equipment.
General industrial machinery.
Radio and T
with unfilled .
Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
adj ustment- ad^j ustment1
'Adjusted for trading-day and calendar-month
on equipment and
OF MANUFACTURERS H
1968 manufacturers in
ordnance, communications, aircraft and aircraft parts, and shipbuilding industries began to
gate figures on
included in the defense series.
variations; unfilled orders and inventories as of
categories as follows:
of work performed for
end of month.
'Shipments and new
supplementary series are regroupings
of these reports are
for trading-day and calendar-month
of the separate
Household durable goods industries Household furniture; kitchen articles and pottery; cutlery, handtools,
appliances; ophthalmic goods, watches,
and clocks; and miscellaneous personal
- The capital goods industries series is comparable to the previous Producers'
Goods and the
(old series) categories.
Nondefense products Machinery, except electrical
household appliances and electronic components, and the nondefense
of shipbuilding and repairing and railroad
equipment, communication equipment, aircraft and aircraft parts, and ordnance.
Defense products Based on separate reports on defense work filed
by large defense contractors in the following
communications, aircraft and aircraft
Shipments of Defense-Oriented Industr
parts, and shipbuilding.
The data are comparable to those
published annually in the MA-175,
ies, for the specified industries.
AND LONG TERM PERCENT
Month-to-month Average monthly rates of change Average, 1967-1972
3 months 12 months
Item and industry group Apr.- Mar.- Feb.-___ ___________
May Apr. Mar. Feb.- Average Average
1ay Apr. Ma Fe ov. 1972- Aug.- May 1972- rise decline
1973 1973 1973 May
S______________________________________________ __________ ______ Feb. 1973 Nov. 1972 May 1973
All manufacturing industries......... +0.7 +1.1 +0.7 +0,8 +1.4 +1.4 +1.3 +1.2 -1.2
Durable goods industries, total........ +1.4 +1.5 -0.2 +0.9 +1.6 +1.6 +1.4 +1.9 -1.6
Nondurable goods industries, total..... -0.1 +0.5 +1.7 +0.7 +1.1 +1.3 +1.1 +0.9 -0.7
All manufacturing industries......... +0,8 +0,4 +1.0 +0.7 +0.6 +0.3 +0.6 +0.5 -0.1
All manufacturing industries......... +1.0 +0.7 +2.5 +1.4 +1.9 +1.2 +1.5 +1.8 -1.4
Durable goods industries, total....... +2.2 +0.8 +3.1 +2.0 +2.5 +1.1 +1.9 +2.9 -2.4
Nondurable goods industries, total..... -0.5 +0.6 +1.7 +0.6 +1.1 +1.4 +1.1 +1.0 -0.6
Durable goods industries, total........ +3.4 +3.1 +3.5 +3,3 +2.0 +1.5 +2.1 +1.0 -1.1
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
May Apr. Mar. May Apr. May May Apr. Mar. May Apr. May
1973p 1973r 1973 1973P 1973r 1972 1973p 1973r 1973 1973p 1973r 1972
and glass products..
All other durable
and coal products.,...
All other nondurable
and glass products.
All other durable
and coal products........
All other nondurable
Work in process Finished goods
TO SHIRIENTS AND UNFILLED ORDERS TO SHIPMENTS,
on seasonally adjusted data)
e s r Unfilled orders shipments ratio'
Inventories shipments ratio
May Apr. Mar. May May Apr. Mar. May
1973 1973r 1973 1972 1973p 1973r 1973 1972
All manufacturing industries, total.................. 1.57 1.57 1.58 1.69 2.33 2.28 2.26 2.11
Durable goods industries, total........................... 1.86 1.87 1.89 2.02 2.75 2.70 2.67 2.52
Stone, clay, and glass products.......................... 1.21 1.22 1.21 1.29 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.67 1.72 1.66 2.12 2.12 1.94 1.68 1.39
Fabricated metals........................................ 1.83 1.86 1.89 1.88 3.00 2.96 2.95 2.85
Machinery, except electrical............................. 2,54 2.51 2.55 2.74 2.89 2.83 2.83 2.56
Electrical machinery..................................... 2.12 2.05 2.10 2.18 3.31 3.18 3.23 3.20
Transportation equipment................................. 1.61 1.64 1.69 1.77 4.71 4.81 5.05 4.75
Instruments and related products......................... 2.35 2.27 2.28 2.41 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.21 1.21 1.21 1.30 0.57 0.57 0.55 0.48
Food and kindred products................................ 0.91 0.89 0.90 0.98 (X) (X) (X) (X)
Tobacco products......................................... 4.55 4.68 4.67 4.50 (x) (X) (X) (X)
Textile mill products.................................... 1.64 1.67 1.66 1.82 (NA) (NA) (NA) (NA)
Paper and allied products.....................~.......... 1.08 1.12 1.14 1.22 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.31 1.29 1.27 1.48 (X) (X) (X) (X)
Petroleum and coal products.............................. 0.82 085 0.84 0.97 (X) (X) (X) (X)
Rubber and plastics products, n.e.c...................... 1.50 1.41 1.43 1.49 (x) (X) (X) (X)
(NA) Not available.
1Excludes the following industries with no unfilled order:
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.
The following is a description of the survey and
EXPLANATION OF TERMS
These are provided to clarify
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
DESCRIPTION OF THE SURVEY
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-
establishment provides data on employment, pay-
cost of materials,
l as other
The establishments do not provide
information on 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.
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
Shipments also include receipts of establish-
ments in the industry for contract work performed
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
therefore, the value of work done
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
for individual establish
and orders data monthly
during the year is requested rather than the value
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.
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
With the ex-
ception of motor vehicles, it is not significant at
the 4-digit SIC group level.
Since the M3-1 in-
.gories typically are groupings of
this duplication is significant for the
a company although many of the
larger diversified companies file separate divi-
sional type reports for their operations in different
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 by using a
companies in each indus
link relative of matched
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
Companies which file divisional
reports are requested to treat transfers from one
division of the company to another as if they were
to outside customers.
Most of the
definition of shipments in the monthly reports
differs from that used in the annual establishment
it is assumed that the month-to-month
New Orders Received
and Unfilled Orders--
Orders as reported in the monthly survey are net
of cancellations during the month.
changes in company sales in the industry are
representative of the month-to-month shipments
of the establishments in the industry.
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
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-
to the next are of
greater significance than the actual aggregates.
by stage of fabri-
(a) finished goods; (b) work in process;
by stage of
fabrication at the all manufacturing and 2-digit
industry levels as well as for the durable and non-
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
to be expended are in-
The respondent is instructed to deduct
the sales value ofparitial or complete cancellation
of existing orders.
Unfilled orders include orders as defined above
that have not yet passed through the sales account.
Generally, unfilled orders at the end of the re-
porting period are equal to unfilled orders at the
of the period
net new orders
received less net sales.
While both new orders and unfilled orders are
used in reviewing individual company reports for
only unfilled orders are estimated
durable goods sectors,
it should be noted that a
product of one industry may be a raw
directly in the tabulated totals.
New orders are
from the shipments plus net change in
material for another industry at the next stage of
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.
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.
------ ---m --m-
orgest volume of machin-
find starting recommendations for o
of material removal operations and mate-
rials. There are machining recommenda-
tions in tabular form which include many
new materials as well as ten new opero-
information is also
If you're a production planner,
actor, machine shop supervisor
manufacturer, designer, rese
Moil to: Notional Technical Information Service.
Department of Commerce,
Springfield, Virginia 22151
O Please send me
HANDBOOK, orat $35 each
copies of the MACHINING DATA
D Charge to my NTIS account no.
O Bill me (applicable to foreign orders). Add 50%.
D Here is my check for ______
purchasing agent, you'll find this handbook
in~rIman l Crt^r7^ Mna'- ,*/e.^ 1 i :-fn a
Recent reports of wide
U.S. Department of Commerce
A Guide for Developing Questionnaire Items. Human
Jan. 1970. 29 p. AD-738 157.
Planning. RAND Corp., Santa Monica, Calif. Jan.
48 p. AD-742 382.
1972. 128 D.
ist. Of Plann
ers, Washington, D.C. March
Skills Conversion Project. Chapter
Society of Professiona
March 1972. 11 p. PB-209 281-01.
for Identifying Problem
Michigan Univ., Ann Arbor. Highway Safety Research
Inst. July 1971. 177 p. PB-209 957. PC$6.00/MF$0.95.
A Survey of Alternative Metho-
dologies. Office of Telecommunications Policy, Wash-
1972. 39 p.
Cost Effective Priority Assignment in Network Com-
Department of Cornm-
March 1972. 26 p. PB-208 665. PC$3.00/
Interface of Technical Libraries with Other Informa-
A Synthesis. Alan M. Rees Schoo
nce, Cleveland, Ohio. March 1971. 137 p.
AD-741 372. PC$5.45/MF$0.95.
Effective with the May report for the
Shipments, Inventories, and Orders,"
the data for
previous periods have been revised to reflect the benchmarking of the
annual totals derived from the monthly survey
to the Annual Survey of Manufactures (ASM) totals for 1970 and 1971.
Subsequent deviation of seasonal factors from these revised data have generated revised seasonally adjusted data
If you wish a copy of the summary report, which contains the revised monthly shipments, inventories,
for 1967-1973, please complete the order blank below and send your
remittance to the Publications Distribution
Section, Social and Economic Statistics Administration, Washington, D.C. 20233.
(please detach along this dotted line)
Please send me
M3-1.5 MANUFACTURERS' SHIPMENTS,
INVENTORIES. AND ORDERS:
($1.25 per copy
City, State, and ZIP Code
MAIL ORDER FORM WITH PAYMENT TO
Publications Distribution Section
Social and Economic Statistics Administration
Washington, D.C. 20233
MAKE CHECK OR MONEY ORDER PAYABLE
TO SUPERINTENDENT OF DOCUMENTS
D Money order
o GPO coupons
UNIVERSITY OF FLORIDA
fI 1 1 1 1 1 18 11
3 1262 08589 4508
GOVERNMENT PRINTING OFFICE
DIVISION OF PUBLIC DOCUMENTS
Washington, D.C. 20402
FIRST CLASS MAIL