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:
September 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:
AA00008477:00071

Related Items

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

Full Text
I


A tIM) STATES
DEPARTMENT OF
CERCE
P BCATION


0
rf\_


FOR RELEASE:


CURRENT INDUSTRIAL
CURRENT I DUSTRIAL


~RIOA
a..,.,,


a




oAmav't'


manufacturers'
,Inventories,


REPORTS


Shipments,
and Orders


September


1973


IERCE Social and Economic Statistics Administration BUREAU OF THE CENSUS


SERIES:


M3-1(73)-9


SUMMARY


UNFILLED ORDERS


New orders
September decre
cent to $74.92
August after se,
decreased $190
billion. Unfilled
or 1.9 percent


for manufactured products in
ased $1.19 billion, or 1.6 per-
billion from $76.11 billion in
asonal adjustment. Shipments
million or 0.3 percent to $72.83
orders increased $2.09 billion
to $109.44 billion at the end of


Unfilled orders of durable goods increased
$2.12 billion or 2.1 percent to $104.75 billion
at the end of September. This increase was
concentrated in the nonelectrical machinery in-
dustries ($660 million), fabricated metals in-
dustries ($625 million) and electrical machinery
industries ($365 million).


September. Manufacturers' inventories increased
$885 million or 0.8 percent to $115.79 billion
at the end of September. The inventories to
shipments ratio increased from 1.57 to 1.59.

For the 3 months ending in September, the
average month to month change in new orders
declined 0.2 percent compared with a 1.2 per-
cent increase for the 3 months ending in June
and a 1.8 percent increase for the 3 months
ending in March.

NEW ORDERS

New orders for durable goods decreased $585
million or 1.4 percent to $42.11 billion in
September. The decrease was primarily attri-
butable to declines in primary metals ($905
million) and shipbuilding and railroad equipment
($200 million) which were partially offset by
increases in other industries, notably nonelec-
trical machinery ($190 million), motor vehicles
and parts ($130 million), and instruments and
related products ($100 million).

SHIPMENTS


INVENTORIES


Inventories of
goods increased
respectively at t
all manufacturing
increased $310
creased $320 mil
stories increased


durable goods and nondurable
$795 million and $95 million
he end of September. At the
level, materials and supplies
million, work in process in-
lion, and finished goods inven-
5255 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 October is
scheduled for release on November 21, 1973 and
the full report is scheduled for release on
December 3, 1973.


Shipments of durable


goods


million or 0.9 percent to $39.98
September increase was led by 1
industry ($240 million) and the nm
and parts industry ($160 million).
nondurable goods decreased $540
percent to $32.85 billion. A de
foods industry ($510 million) led
in nnruliurahlrac


increased $350


billion. The
the aerospace
iotor vehicles
Shipments of
million or 1.6
crease in the
the decrease


For
report


explanation of terms
appendix following table


in this


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-
inmrdn Tl f 9f-9P











BY INDUSTRY GIOUP


(Millions


of dollars)


Industry


group


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


Total,


Durable


excluding


portatlon......

goods industries,


Stone, clay,


Primary


indus-


trans-


total.


and glass products.


metals1


t


Blast furnaces,
Nonferrous meta


All other primary


Fabricated


otal.......
steel mills.
Is...........


metals....


metal products


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


Metal


cans, barrels,


drums.........,...........


Machinery,


Engines


except


electrical,


and turbines.......


Farm machinery and equipment.


Construction,


mining,


material handling equipment.


Meta1.~orking


General


machinery......


industrial


Electrical machinery,


Electrical


machinery
total...


transmission


distribution equipment and
industrial apparatus....
Household appliances........
Radio and TV...............o


Communication


equipment....


Transportation equipment, total


Motor vehicles


Aircraft~


Shipbuilding


and palrts....


missiles,


and railroad


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


Instruments and re
products, total..
Scientific and e
All other instru
related product

All other durable


lated

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


goods


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

Nondurable goods industries,
total....................,......


Food and kindred


products,


total..............-......*
Meat products...............
Fats and oils...............


Tobacco
Textile

Paper a


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


nd allied


paper


Paperboard
All other

Chemicals an


products,


$
contaitters,,.....


paper

d alli


containers..

ed products,


total............*...SSI*0* S


Industrial


chescials,


except


pigments...... ......*....*


Drugs,

Petroleum
Rubber an


soap,


and toiletries.


and coal products...


d plastics


pnxhuts,


n.e.c. S C C 4~4 C C S C C S S S **~~ 54


Shipments


\ t o%*1 Iinvaentories


Saoal aduWithout seasonal Without seasonal
Seasonally adjusted adustent ffaonally adjusted ndjustjent
adjustment1 ? r adjustment
.. I^ I I I


72,832


2,854

399


1,204
599

605


4,044


32.848


5.497


73,021

62,740

39,633

2.084


4,385

472


6,117
487
583

1,244
338
509
5,350


1,029
718
500
1.154


2,612

381


1,163
572

591


4,088


33,388


11,827
2,824
932

540
2.550


5.694


73,248


5.641


75,142


70,827


10,79360

98, ?

76,006


2.693


700


1.838


7.170


2.361


14,907



75 9

2.679


1,343


7,081


39,694


7.140


113,910





2,669

9,452


114,465

97,101


1.814


3,029
1,015
913
1.101


S7,10


105,311


7,612


6,824











OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


All manufacturing
tries:
Total,.-..,....


Total,


excluding


indus-


trans-


portation.*............


Durable g

Primary


oods industries,


metals,


Blast furnaces,
Nonferrous meta

Fabricated metal

Machinery, except
total.Es... ....

Engines and tur


Construction


total..


total.

. S**S*S* *


steel mills.
pls.r.d......

products.....


electrical,


ines...*************...
*bines........


, mining,


material handling equipment.


Metalworking


machinery......


General industrial machinery.


Electrical ma

Electrical
distrlbuti
Industrial
Household a


chinery,


total...


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


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


Communication

Transportation


Aircraft,


Shipbuilding


Sequipment....

equipment,


missiles,


and railroad


equipment.*....,*..*


All other durable


goods


industries..,.*.......


Nondurable


Industries


Industries


goods


industries


with unfilled


without


unfilled


orders.....,,......,,...,,..


- Represents
'Adjusted to


zero, P
r trading-day


New orders


Unfilled


orders


Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment1


74,923

64,055

42,106

6.243


4,996


6,837

602

1,307
354
752

5,653



1,158
687
533
1,112


10,868


2,955

338


7,509


32,817


8.265


76,113


preliminary. Re
and calendar-month


5,008


6,902

681

1,433
408
634

5,676



1,138
673
661
888


10,980


2,698

504


7,473


32,448


8,242

24,206


4,968


6,321

512

1,322
382
549

5,649



1,063
751
502
1,292


8,843


2,774

386


7,701


33,496


8,395

25,101


69,095

59,035

38,466

5,247

2,574
1,912

4,497


5,595

580

930
332
542

5,672



1,254
637
651
1,244


10,060


2,434

635


7,395


30,629


7,829

22,800


109,437

79,565

104,745

14,800

10,438
4,362

13,833


19,776

5.226


18,975



5,171
147
685
6,292


29,872


19,104

6,401


7,489


4,692


4,692


107,344

77,746

102,621

14,798

10,540
2,528

13,206


19,118

5.200


104,246

75,314

99,560

13,815

9,658
2,534

12,686


18,587

5.159


77,982

103,232

13,147

8,945
4,202

13,879


19,567

5,203


106,104

76,371

101,441

13,261

9,054
2,503

13,210


19,068

5,185


variations.


k










Table 2.--VALUE OF MANUFACTURERS' SHIPMENTS, INVENTORIES,
(Millions


AND ORDERS, FOR MARKET CATEGORIES AND SUPPLEMENTARY SERIES
of dollars)


Without seasonal Without seasonal
Seasonally adjusted Without seasonal Seasonally adjusted adjustment
adjustment1J-*"1" adjustment
Industry group
Sept. Aug. July Sept. Aug. Sept. Sept. Aug. July Sept. Aug. Sept.
1973 1973 1973 1973p 1973r 1972 1973p 1973r 1973 1973 1973r 1972

Shipments Total inventories

All manufacturing industries, total.. 72,832 73,021 73,248 75,142 70,827 67,168 115,793 114,907 113,910 114,725 114,465 105,311

Durable goods industries, total............ 39,984 39,633 40,779 40,862 37,291 36,579 76,006 75,213 74,278 75,461 75,117 68,529
Nondurable goods industries, total......... 32,848 33,388 32,469 34,280 33,536 30,589 39,787 39,694 39,632 39,264 39,348 36.782

Industry groups arranged by market
categories:
Home goods and apparel..,............. 6.670 6,616 6,541 7,313 7,213 6,675 12,921 12.842 12,707 12,735 12,895 11,398
Consumer staples......................... 13,886 14,472 13,837 14,748 14,446 13,186 15,385 15,345 15,254 15,269 15,104 14,241
Equipment and defense products, except
automotive.............................. 10,276 9,954 10,480 10,422 9,497 8,869 29,751 29,464 28,912 29,458 29,222 26,311
Automotive equipment..................... 7,854 7,807 8,344 7,555 5,927 7,469 6,911 6,749 6,708 6,949 6,861 6,144
Construction materials, supplies, and
intermediate products.................. 5,970 5,928 6,098 6,399 6,277 5,777 9,738 9.590 9,446 9,593 9,573 8.530
Other materials and supplies and
intermediate products.................. 28,176 28,244 27,948 28,705 27,467 25,192 41,087 40,917 40,883 40,721 40,810 38,687

Supplementary series:2
Household durable goods industries....... 2,995 3,084 3,095 3,325 3,270 3,001 6,056 5,998 5,936 5,985 6,048 5,338
Capital goods industries................. 11,914 11,687 12,138 12,134 11,113 10,472 33,615 33,351 32,740 33.376 33.118 29,654
Nondefense............................. 10,300 10,135 10,465 10,470 9,553 8,878 28,087 27,796 27,306 27,863 27,608 24,806
Defenses............................... 1,614 1,552 1,673 1,664 1,560 1,594 5,528 5,555 5,434 5,513 5,510 4,848

New orders Unfilled orders


All manufacturing industries, total.. 74,923 76,113 75,145 76,867 73,233 69,095 109,437 107,344 104,246 107,832 106,104 81.932

Durable goods industries, total............ 42,106 42,689 42,697 42,651 39,737 38,466 104,745 102,621 99,560 103,232 101,441 78,295
Nondurable goods industries, total......... 32,817 33,424 32,448 34,216 33,496 30,629 4,692 4,723 4,686 4,600 4,663 3,637

Industry groups arranged by market
categories:
Home goods and apparel.................. 6,752 6,491 6,642 7,377 7,087 6,762 2,836 2,761 2,877 2,95 2,901 2,56
Consumer staples........................ 13,880 14,480 13,846 14,749 14,451 13,186
Equipment and defense products, except
automotive............................. 10,960 10,939 10,753 10.951 10,326 9,82653,089 52,173 50932 52,965 52,218 4252
Automotive equipment..................... 8,086 8,060 8,322 7,774 6,194 7,537
Construction materials, supplies, and
intermediate products................ 6,506 6,417 6,406 6,998 6,682 6,015 12,811 12,274 11,785 12,871 12,271 10,004
Other materials and supplies and
intermediate products.................. 28,739 29,726 29,176 29,018 28,493 25,769 40,701 40,136 38,652 39,031 38,714 26,841

Supplementary series:2
Household durable goods industries....... 3,041 2,996 3,154 3,361 3,202 3,100 2,247 2,201 2,288 2,388 2,352 2,099
Capital goods industries................. 12,732 12,887 12,603 12,796 12,231 11,737 58,791 57,974 56,773 58,744 58,083 48,214
Nondefense............................. 11,103 11,032 11,404 11,118 10,548 9.778 38,005 37,202 36,303 37,937 37,289 28,532
Defenses............................... 1,629 1,855 1,199 1,678 1,683 1,959 20,786 20,772 20,470 20,807 20,794 19,682


*During 1968 manufacturers in
gate figures on shipments, order
included in the defense series.
variations; unfilled orders and
categories as follows:


ordnance
s, and to
PPrel
inventor


ommunicati
inventory


iminary.
es as of


rRevised.
end of month.


aft and aircraft
performed for


t parts
the Dep


'Shipments and new
2The supplementary


, and s
artment
orders
series


hipbuilding


industries


of Defense. The resul
adjusted for trading-d
are regroupings of the


began


to provide


aggre-


ts of these reports are
ay and calendar-month
separate industry


Household durable goods industries Household furniture; kitchen articles and pottery; cutlery, h
appliances; ophthalmic goods, watches, and clocks; and miscellaneous personal goods.
Capital goods industries The capital goods industries series is comparable to the previous Produ
Products (old series) categories.
Nondefense products Machinery, except electrical (excluding farm machinery and equipment and mac
(excluding household appliances and electronic components), and the nondefense portions of shipb
equipment, communication equipment, aircraft and aircraft parts, and ordnance.
Defense products Based on separate reports on defense work filed by large defense contractors in
communications, aircraft and aircraft parts, and shipbuilding. The data are comparable to those
Shipments of Defense-Oriented Industries, for the specified industries,


andtools, and hardware; household

cers' Capital Goods and the Defense


hine shops),
building and


electrical machinery
repairing and railroad


the following industries:
published annually in the


ordnance,
MA-175,











AND LONG TERM PERCENT


(Based


on seasonally


adjusted


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

Item and industry group Aug.- July- June- 3 months 12 months
Sept. Aug. July Average Average
1973 1973 1973 June- Mar.- Dec. 1972- Sept. 1972- rise decline
Sept. 1973 June 1973 Mar. 1973 Sept. 1973


Shipments.:
All manufacturing industries......... -0.3 -0.3 +2.3 +0.6 +0.9 +1.3 +1.0 +1.3 -1.2

Durable goods industries, total........ +0.9 -2.8 +3.9 +0.7 +1,0 +1.3 +1.1 +1.9 -1.6
Nondurable goods industries, total..... 1.6 +2.8 +0.3 +0.5 +0.7 +1.3 +1.0 +0.9 -0.7

Total inventories:
All manufacturing industries......... +0.8 +0.9 +0.8 +0.8 +0.9 +0.7 +0.7 +0.5 -0.1

New orders:
All manufacturing industries......... -1.6 +1.3 -0.3 -0.2 +1.2 +1.8 +1.0 +1.8 -1.5
Durable goods industries, total........ -1.4 0.0 -0.7 -0.7 +1.6 +2.3 +1.0 +2.8 -2.4
Nondurable goods industries, total..... -1.8 +3.0 +0.3 +0.5 +0.6 +1.3 +1.0 +1.0 -0.6
Unfilled orders:
Durable goods industries, total........ +2.1 +3.1 +2.0 +2.4 +3.5 +2.4 +2.4 +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 t seasonal Seasonally adjusted uten
adjustment adjustment
Industry group
Sept. Aug. July Sept Aug. Sept. Sept Aug. July Sept Aug. Sept.
1973 p 1973r 1973 1973 1973 1972 1973p 1973r 1973 1973p 1973r 1972

Total Materials and supplies

All manufacturing industries, total.. 115,793 114,907 113,910 114,725 114,465 105,311 37,902 37,594 37,071 37,803 37,667 33,357
Durable goods industries, total............ 76,006 75,213 74,278 75,461 75,117 68,529 22,305 22,080 21,721 22,561 22,430 19,848
Stone, clay, and glass products.......... 2,693 2,679 2,669 2,605 2,639 2,363 927 910 886 931 909 805
Primary metals.......................... 9,350 9,346 9,452 9,237 9,225 9,681 3,384 3,377 3,389 3,478 3,422 3,391
Machinery (electrical and nonelectrical). 27,717 27,423 27,018 27,449 27,310 23,896 7,740 7,602 7,411 7,676 7,642 6,200
Transportation equipment................. 17,514 17,328 17,029 17,560 17,364 16,008 3,395 3,407 3,413 3,482 3,474 3,216
All other durable goods industries...... 18,732 18,437 18,110 18,610 18,579 16,581 6,859 6,784 6,622 6,994 6,983 6,236
Nondurable goods industries, total......... 39,787 39,694 39,632 39,264 39.348 36,782 15,597 15,514 15,350 15,242 15,237 13,509
Chemicals and allied products............ 7,170 7,140 7,136 7,040 7,100 6,824 2,657 2,627 2,623 2,637 2,625 2,403
Petroleum and coal products.............. 2,361 2,388 2,412 2,383 2,398 2,395 557 559 520 545 557 507
Rubber and plastics products, n.e.c...... 2,541 2.539 2,532 2,492 2,498 2,276 887 866 840 893 881 704
All other nondurable goods industries.... 27,715 27,627 27,552 27,349 27,352 25,287 11,496 11,462 11,367 11,167 11,174 9,895

Work in process Finished goods

All manufacturing industries, total.. 41,033 40,711 40,121 40,902 40,617 36,784 36,858 36,602 36,718 36,020 36,181 35,170
Durable goods industries, total............ 34,749 34,461 33.944 34,633 34,353 30,931 18,952 18,672 18,613 18,267 18,334 17,750
Stone, clay, and glass products.......... 375 371 355 361 366 316 1,391 1,398 1,428 1,313 1,364 1,242
Primary metals........................... 3,493 3,477 3,514 3,417 3,406 3,451 2,473 2,492 2,549 2,342 2,397 2,839
Machinery (electrical and nonelectrical). 12,616 12,539 12,358 12,590 12.511 10,846 7,361 7,282 7,249 7,183 7,157 6,850
Transportation equipment................. 12,487 12,384 12,133 12,494 12,354 11,178 1,632 1,537 1,483 1,584 1,536 1,614
All other durable goods industries....... 5,778 5,690 5,584 5,771 5,716 5,140 6,095 5,963 5,904 5,845 5,880 5,205
Nondurable goods industries, total........ 6,284 6,250 6,177 6,269 6,264 5,853 17,906 17,930 18,105 17,753 17,847 17,420
Chemicals and allied products............ 1,139 1,136 1,117 1,123 1,126 1,020 3,374 3,377 3,396 3,280 3,349 3,401
Petroleum and coal products............. 520 529 533 525 525 517 1,284 1,300 1,359 1,313 1,316 1,371
Rubber and plastics products, n.e.c...... 405 404 399 405 404 373 1,249 1.269 1,293 1,194 1,213 1,199
All other nondurablejgoods industries.... 4,220 4,181 4,128 4,216 4,209 3,943 11,999 11,984 12,057 11,966 11,969 11,449


~Pre1iminary.
rRCVISS


data)











OF MANUFACTURERS'


TO SHIPMENTS
Seasonally


(Based


AND UNFILLED


BY INDUSTRY


adjusted


t s Unfilled orders shipments ratio1
Inventories shipments ratio ,
(months backlog)
Industry group
Sept. Aug. July Sept. Sept. Aug. July Sept.
1973 1973 1973 1972 1973 1973r 1973 1972

All manufacturing industries, total................. 1,59 1.57 1.56 1.65 2.55 2.51 2.41 2.18
Durable goods industries, total........................... 1.90 1.90 1.82 1.95 3.03 2.98 2.84 2.60
Stone, clay, and glass products.......................... 1.31 1.29 1.29 1.27 (NA) (NA) (NA) (NA)
Primary metals................................. ........... 1.50 1.52 1.57 1.88 2.37 2.40 2.29 1.50
Fabricated metals........................................ 1.95 1.91 1.79 1.91 3.53 3.37 3.05 2.97
Machinery, except electrical............................ 2.57 2,56 2.48 2.68 3.20 3.13 2.98 2.62
Electrical machinery.................................... 2.24 2.19 2.13 2.16 3.59 3.48 3.38 3.24
Transportation equipment................................. 1.65 1.69 1.52 1.68 5.10 5.09 4.70 4.93
Instruments and related products........................ 2.54 2.56 2.41 2.35 (NA) O(A) (NA) (NA)
Nondurable goods Industries, total......................... 1.21 1.19 1.22 1.27 0.57 0.57 0.57 0.49
Food and kindred products................................ 0.88 0.85 0.90 0.96 (X) (X) (X) (X)
Tobacco products....... ...............................* 4.82 4.44 4.61 4.67 (X) (X) (X) (X)
Textile mill products.................................... 1.79 1.72 1.71 1.72 (NA) (NA) (NA) (RA)
Paper and allied products................................ 1.12 1.10 1.10 1.20 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.30 1.25 1.27 1.43 (X) (X) (X) (X)
Petroleum and coal products.............................. 0.76 0.79 0.82 0.92 (X) (X) (X) (X)
Rubber and plastics products, n.e.c....................... 1.50 1.49 1.48 1.37 (X) (X) (X) (X)


(NA) Not avai
1Excludes the


lable,.


PPreliminary.


following industries with


vehicle assembly operations; foods and related
rubber and plastics products, n.e.e.


rRevised.
no unfilled


(X)
order:


Not applicable.
Wooden containers;


products; tobacco; apparel and related


glass containers;


metal cans


barrels


products; chemicals; petroleum


drums;


motor


and coal products;


GROUP









Appendix


The following is a description of the survey and
definitions used. These are provided to clarify
the meaning of the items involved and do not
represent any revisions from those definitions
previously employed.

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, and inventories as well as other
selected items. 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.

The monthly survey M3-1 does not provide
information at the complete SIC industry detail
because of the smaller size of the reportingpanel
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 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 by using a link relative of matched
companies in each industry.


EXPLANATION OF TERMS

Value of Shipments--Shipments in the monthly
survey are equivalent to value of shipments as
reported in the ASM which are received or
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 performedby
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
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 materialsby other
industries within the industry group. Withtheex-
ception of motor vehicles, it is not significant at
the 4-digit SIC group level. Since the M3-1 in-
dustry categories typically are groupings of
industries, 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
nct sales to outside customers. Although this
7




UNIVERSITY OF FLORIDA

3 1262 08589 4490


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) 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.


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 amountofthe sales
value is included if the parties are in substantial
agreement on the amount; otherwise, only the ftnd
.: ~""'
specifically authorized to be expended are in-
cluded. The respondent is instructed to dezt
the sales valueof paritialor complete cancellaton
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 seasonallyadjusteddlata
as well as for the unadjusted data. Shipments and
unfilled orders are seasonally adjustedindepend-
ently. Seasonally adjusted neworders are derived
from seasonally adjusted shipments and sea-
sonally adjusted unfilled orders.


A