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:
November 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:
AA00008477:00073

Related Items

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

Full Text

A UNITED STATES
DEPARTMENT OF
MERCEA
PUBLICATION


Man
I


ti..... /N


REPORTS


CURRE T INDUSTRIAL
Lt J wi~k 't -f 1 W
ufacturers Ship
inventories, and


November


1973


U. S. DEPARTMENT OF COMMERCE, a fmi- Statistics Administration BUREAU OF THE CENSUS


FOR RELEASE:


January 7, 1974


SERIES:


M3-1(73)-11


orders


November increa
to $79.56 billion
after seasonal ad
$1.77 billion or 2.
$75.27 billion in
creased $2.52 bil
billion at the end
total inventories
percent to $118.34
The inventories
from 1.56 to 1.54.


SUMMARY
for manufactured


sed $1.80 billion or 2.3 ,.
from $77.76 billion min Oct-
justment. Shipments increase
4 percent to $77.04 billion from
October. Unfilled orders in-
lion or 2.3 percent to $114.42
of November. Manufacturers'
increased $1.12 billion or 1.0
billion at the end of November.


to shipments


ratio


decreased


For the 3 months ending in
average month to month change
increased 1.5 percent compared
cent increase for the 3 months e
and a 1.6 percent increase for
ending in May.


NEW ORDERS


New orders for durable goods in November
increased $395 million or 0.9 percent to $44.43
billion. The November increase was led by
shipbuilding and railroad equipment ($735 mil-
lion). This increase was partially offset by
decreases In the aerospace industries ($250 mil-
lion) and the motor vehicles and parts industry
($220 million).


SHIPMENTS
Shipments of durable goods increased $350
million or 0.8 percent to $41.92 billion in
November. The November increase was led by
nonelectrical machinery ($160 million), theaero-
space industries ($155 million) and the primary
metals industries ($85 million). These increases
were partially offset by a $255 million decrease
in the motor vehicles and parts industry.
Shipments of'nondurable goods increased $1.43
billion or 4.2 percent to $35.13 billion. The non-
durable goods increase was led by food products
($445 million), petroleum and coal products
($285 million), apparel industries ($230 million)
and the chemicals industries ($190 million).


November, the
in new orders
with a 0.7 per-
nding in August
the 3 months


9m*&


UNFILLED ORDERS


-...... 11i a orders of durable goods increased
' lllion or 2.3 percent to $109.70 billion at
+, id ~of November. The November increase
was led by shipbuilding and railroad equipment
($760 million), nonelectrical machinery ($741
million) and electrical machinery ($415 million).
INVENTORIES

Inventories of durable goods and nondurable
goods increased $715 million and $405 million
respectively at the end of November. At the all
manufacturing level, materials and supplies in-
creased $460 million, work in process increased
$555 million and finished goods increased $105
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 December is
scheduled for release on January 22, 1974 and
the full report is scheduled for release on
January 31, 1974.


For an explanation of terms
report see 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-
ington, D.C. 20233.
Due to the extended Christmas and New Year
holidays, the M4A report, Manufacturers'
Export Sales and Orders of Durable Goods,
is scheduled for release on January 9.


ments,
Orders









Table 1.--VAWE OF kIANIJYACTURERS' SHIPMENTS, INVEIU'OEIU, AND ORDERS, BY INDUSTRY GICVP


(Millions


of dollars)


Industry


metals,


group


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


Total,


excluding


lucius-


trans-


portationl....*.........


oods industries


total


tistrial
~chineq,


t


Blast furnaces,
Nonferrous meta


All other primary


Fabricated


Metal


Machinery,


Engines


cans. barrels,


except


steel mills.
Is......,...


metals...,


and


electrical,


and turbines...,....


Fanrm machinery and equipment.
Construction, mining, and
material handling equipment.


Metalworking


General ind
Electrical m-
Electrical
distributi
industrial
Household a


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


Radio and TV.o..,...o.,....
Communication equipment.....

Transportationequipment, total


and parts....


missiles,


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

Instruments and related
products, total.............
Scientific and engineering..
All other Instrisents and


related


goods


industries................***.


goods industries,


products,


total......n*in*in*******,,.
Meat producttl...............
rats and oils...............


ptoducts......o.......
mill products...4...


nd allied


products,


total. 0 ............ 5***


o, etceerS.......
containers......* **


All othet paper containers..


and allied


products,


................... S S S .....


chemcials~


except


S *t-*t**S *WW


toiletries.

products...
products,


AU nl nondurable goods


machinery
total...


Shipments


Total inventories


I Without seasonal Without seasonal
Seasonally adjusted Iadjustment1i Seasonally adjusted Wihut asoa
jadj ustment adjustment1


2,170


4,713

490


6,512
523
641

1,324
382
547
5,372


1,044
674
565
1.128


5.877


3,455

1,794


75,269

64,460

41,567

2,178

6,730,
3,459
2,369
902


4,648

490


6,353
573
500

1,293
353
575
5,372


998
687
524
1.139


5.687


62,363
'4
*~62
~',046



2, 284
sat


398


1,192
595

597


4,085


32,898


11,348
2,725


5,575


6,405
3,063
2,437
% 905


4,666


Oct.


'9'

65,9S

42,285


2,3554



4,811

476


6,237
492
560

1,225
351
582
5,642


1,003
700
613
1,161


3.135


4.845


2,618


118,344

100,596

77,666

2,736

9,203
4,612
3,388
1,203


8,817

726


17,748
5,386

9,697

1,828


117,224


1,375


7,381


40,273


10,17
1,116
630


3,089
1,047
914



7.185

1t992


116.114

98,424

76,249


2,702


1.363


.i ... t -_


117,746

99,876

77,175

2.625


116;496

98,627

76,399

2,599


Durable g

Stone, c

Primary


lay, and glass products.


metal products


machinery., ..a.


106,623

90,370

S69,334

2,355


2,667


10,144


Motor vehicles


Aircraft,


products...........


All other durable


Nondurable


Food and kindred


Tobacco
Textile

Paper a


pulp, paper
Paperboaard


cbaicsla


Industrial


JniS, soap, and

pt l u and coal
Ruer plastics


GROUP


I









OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


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


Total,


excluding


poartatlon.......


Durable g

Primary


goods industries,


metals,


Blast furnaces


Nonferrous

Fabricated m

Machinery, e


total..


indus-


trans-
...t...

total.

.*.....


steel mills.


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

etal products.....


xcept


electrical


total......4...........,,...


Engines


and turbines........


Construction,


mining,


material handling equipment.


Metalworking


machinery......


General industrial machinery,.


Electrical mas

Electrical
distribute
industrial
Household a


chinery,


total...


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


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


Communication

Transportation


Aircraft


Shipbuilding


equipment.....

equipment,


, missiles,


and railroad


equipment.........


All other durable


goods


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


Nondurable


Industries


Industries


goods


industries


with unfilled


without


utmfi lled


....... 4t S S ... S S ....


New orders


Unfilled


orders


S Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment'


26.453


75,129


79,349


67,075


5,101



997
600
495
1,077


10.031


2,321

299


6,971


30,248


7,976

22,272


114,417

83,085

109,703

14,989

10,100
2,819

14,625


21,362

5,587


19,713



5,430
121
773
6.299


31,332


19,743

7,208


7,682


4,714


4.714


111,897

81,460

107,185

14,996


109,410

79,532

104,716

14,857


18,857



5,170
144
677
6,265


29,878


19,148

6,390


7,484


4,694


4,694


112,688

81,407

108,013

13,820

9,130
2,650

14,502


21,232

5,577

4,235
2,037
2,184

19,672



5,395
114
710
6,406


31,281


19,637

7,136


7,506


4,675


4,675

-


110,076

79,712

105,436

13,359

8,855
2,588

14,311


20,480

5,393

4,034
1,957
2,171

19,486



5,264
132
724
6,473


30,364


19,689

6,374


7,436


4,640


4,640


- Represents
'Adjusted fo


~Preliminary.


r trading-day and









Table 2.--VALUE


OF MANUFACTURERS


8111 RAk24TS,


INVENTORIES,


(Millions


AND ORDERS,
of dollars)


FOR MARKET


CATU3ORIES


AND SUPPLEMENTARY


SERIES


-Without seasonal Without seasonal
Seasonally adjusted t Seasonally adjusted dutmen
adjustment adjustment
Industry group
Nov. Oct. Sept. Nov. Oct. Nov. Nov. Oct. Sept. Nov. Oct. Nov.
1973p 1973r 1973 1973p 1973r 1972 1973 1973r 1973 1973p 1973r 1972

Shipments Total inventories

All manufacturing industries, total.. 77,043 75,269 73,060 76,412 77,081 66,567 118,344 117,224 116,114 117,746 116,496 106.623

Durable goods industries, total............ 41,915 41,567 40,162 41,373 42,285 36,503 77,666 76,951 76,249 77,175 76,399 69,334
Nondurable goods industries, total......... 35,128 33,702 32,898 35,039 34,796 30,064 40,678 40,273 39,865 40,571 40,097 37,289

Industry groups arranged by market
categories:
Home goods and apparel..,,............... 7,145 6,878 6,683 7,196 7,491 6,585 13,202 13,146 12,929 12,713 12,784 11,263
Consumer staples......................... 14,957 14,479 13,929 15,145 15,128 12,904 15,716 15,638 15,417 16,013 15,867 14,602
Equipment and defense products, except
automotive.............................. 10,652 10,222 10,433 10,360 10,161 8,995 30,507 30,302 29,820 30,432 30,132 26,957
Automotive equipment..................... 8,044 8,306 7,898 8,179 8,706 7,734 7,037 7,021 7,084 7,062 7,024 6,131
Construction materials, supplies, and
intermediate products.................. 6,315 6,112 5,928 6,208 6,394 5,477 10,066 9,764 9,760 9,876 9,584 8,633
Other materials and supplies and
intermediate products................... 29,930 29,272 28,189 29,324 29,201 24,872 41,816 41,353 41,104 41,650 41,105 39,037

Supplementary series:2
Household durable goods industries....... 3,209 3,152 3,042 3,244 3,415 2,952 6,273 6,210 6,065 6,111 6,069 5,353
Capital goods industries................. 12,307 12,096 12,032 12,245 12,023 10,712 34,445 34,200 33,691 34,407 34,123 30,254
Nondefense............................. 10,679 10,386 10,425 10,573 10,336 9,100 28,946 28,669 28,163 28,869 28,558 25,284
Defense ............................... 1,628 1,710 1,607 1,672 1,687 1,612 5,499 5,531 5,528 5,538 5,565 4,970

New orders Unfilled orders


All manufacturing industries, total.. 79,561 77,758 75,129 79,024 79,349 67,075 114,417 111,897 109,410 112,688 110,076 83,175

Durable goods industries, total............ 44,430 44,037 42,259 43,951 44,517 36,827 109,703 L07,185 104,716 108,013 105,436 79,251
Nondurable goods industries, total......... 35,131 33,721 32,870 35,073 34,832 30,248 4,714 4,712 4,694 4,675 4,640 3,924

Industry groups arranged by market
categories:
Home goods and apparel................... 7,270 6,948 6,732 7,213 7,456 6,430 3,005 2,885 2,806 2,955 2,927 2,413
Consumer staples......................... 14,955 14,488 13,926 15,154 15,154 12,915 305 2 5 2806 2955 2927 2413
Equipment and defense products, except
automotive.............................. 12,192 11,203 11,107 11,551 11,175 9,177
Automotive equipment..................... 8,085 8,307 8,105 8,386 8,755 7,887 55,615 54,035 53,052 55,392 53,993 43,375
Construction materials, supplies, and
intermediate products.................. 6,593 6,630 6,458 6,348 6,854 5,354 13,602 13,323 12,805 13,465 13,325 9,798
Other materials and supplies and
intermediate products...,,............... 30,466 30,182 28,801 30,372 29,955 25,312 42,195 41,654 40,747 40,876 39,831 27,589

Supplementary series:2
Household durable goods industries....... 3,334 3,220 3,055 3,255 3,392 2,779 2,404 2,281 2,213 2,343 2,331 1,912
Capital goods industries................ 14,059 13,488 12,832 13,695 13,497 10,741 61,917 60,165 58,771 61,655 60,203 48,825
Nondefense............................. 11,892 11,595 11,267 11,673 11,501 9,511 40,466 39,253 38,042 40,245 39,145 29,527
Defense .......,....................... 2,167 1,893 1,565 2,022 1,996 1,230 21,451 20,912 20,729 21,410 21,058 19,298


'During 1
gate figures
included in
variations;


968 manufacturers


on shipments,


the defense


unfilled


orders


in ordnance,


orders,


series.


communications,


and total inventories
PPreliminary. r


and inventories


aircraft


and aircraft


of work performed for
ovised. 'Shipments


as of end of month.


2The


parts,


and shipbuildin


the Department
and 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 al
and calendar-month


of the separate


industry


categories


as follows:


Household


durable


appliances;


Capital


goods


Products (
Nondefense p
(excluding
equipment,


Defense


goods


ophthalmic
industries


old series)
products M
household


industry
goods,
- The c


es Household
watches, and c
capital goods i


furniture;


locks:


industries


kitchen


articles


and miscellaneous


series


and pottery;


personal


is comparable


cutlery,


handtools,


and hardware;


household


goods.


to the previous


Producers'


Capital


Goods and the Defense


categories.


achinery,
appliances


coitanunicatton


products


communications,


equipri,


- Based on separ


aircraft


and ai


except electric
and electronic
ent, aircraft a
ate reports on
rcraft parts, a


al


(excluding
components ,


nd aircr
defense
nd ship


aft


farm machinery and
and the nondefense


parts,


equipment
portions


and machine shops),
of shipbuilding and


electrical
repairing


machinery
and railroad


and ordnance.


work filed by large
building. The data


defense


contractors


are comparable


in the following


to those published


industries:


annually


ordnance,


in the MA-175,


Industries, for the specified industries.


v










Table 3.--MANUFACTURERS H


TERM PERCENT


(Based


on seasonally


adjusted


Item and industry


Shipments:
All manufacturing


Durable
Nondurab


group


industries..


goods industries, tf
2ie goods industries,


Total inventories:
All manufacturing
New orders:
All manufacturing


Durable go
Nondurable


Unfilled
Durable


*tal.
tot


..l ....
al .. ...


industries.


industries


ods industries,


tota


goods industries,


orders:
goods


industries


S. ..
1....,,.


total


, total.


Month-to-month


+2.4


+1.0


+2.3


+3.0


+1.1


Average


monthly


3 months


+1.8


+1.0


+2.2


rates of change


12 months


+1.2


+0.9


+2.7


Feb,-
May 1973


+1.0


+0.8


+3.4


Average,


+1.3


+0.5


+1.0


1967-72


Average
decline


-1.1


Table 4.--VALUE


OF MANUFACTURERS'


INVENThRI!~,


BY STAGE OF FABRICATION


BY INDUSTRY


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted Seasonally adjusted uten
adjustment adjustment
Industry group
Nov. Oct. Sept. Nov Oct. Nov. Nov Oct Sept, Nov Oct. Nov.
1973p 1973r 1973 1973 1973 1972 1973p 1973r 1973 1973 1973r 1972

Total Materials and supplies

All manufacturing industries, total.. 118,344 117,224 116,114 117,746 116,496 106,623 39,296 38,836 38,175 39,266 38,832 33,801
Durable goods industries, total........... 77,666 76,951 76,249 77,175 76,399 69,334 23,451 23,064 22,621 23,441 23,200 19,950
Stone, clay, and glass products.......... 2,736 2,720 2,702 2,625 2,599 2,355 970O 936 914 963 932 797
Primary metals...................,....... 9,203 9,222 9,323 9,233 9,185 9,716 3,478 3,376 3,355 3,575 3,493 3,388
Machinery (electrical and nonelectrical). 28,608 28,266 27,786 28,433 28,037 24,282 8,056 7,932 7,769 7,953 7,844 6,324
Transportation equlpment................. 17,748 17,766 17,690 17,870 17,869 16,253 3,575 3,624 3,667 3,646 3,704 3,165
All other durable goods Industries....... 19,371 18,977 18,748 19,014 18,709 16,728 7,372 7,196 6,916 7,304 7,227 6,276
Nondurable goods industries, total......... 40,678 40,273 39,865 40,571 40,097 37,289 15,845 15,772 15,554 15,825 15,632 13,851
Chemicals and allied products............ 7,215 7,185 7,175 7,099 7,027 6,918 2,703 2,681 2,640 2,680 2,646 2,404
Petroleum and coal products.............. 2,576 2,474 2,391 2,647 2,536 2,408 564 542 556 564 537 504
Rubber and plastics products, n.e.c...... 2,569 2,578 2,551 2,554 2,532 2,331 937 919 890 954 915 711
All other nondurable goods industries.... 28,318 28,036 27,748 28,271 28,002 25,632 11,641 11,630 11,468 11,627 11,534 10,232

Work in process Finished goods

All manufacturing industries, total.. 41,962 41,405 41,040 41,925 41,335 37,647 37,086 36,983 36,899 36,555 36,329 35,175
Durable goods industries, total............ 35,557 35,082 34,742 35,573 35,039 31,774 18,658 18,805 18,886 18,161 18,160 17,610
Stone, clay, and glass products......... 395 389 377 365 361 304 1,371 1,395 1,411 1,297 1,306 1,254
Primary metals........................,.. 3,398 3,455 3,496 3,390 3,401 3,454 2,327 2,391 2,472 2,268 2,291 2,874
Machinery {electrical and nonelectrical). 13,215 12,983 12,675 13,258 12,986 11,106 7,337 7,351 7,342 7,222 7,207 6,852
Transportation equipment................. 12,594 12,576 12,439 12,645 12,616 11,705 1,579 1,566 1,584 1,579 1,549 1,383
All other durable goods industries....... 5,955 5,679 5,755 5,915 5,675 5,205 6,044 6,102 6,077 5,795 5,807 5,247
Nondurable goods industries, total......... 6,405 6,323 6,298 6,352 6,296 5,873 18,428 18,178 18,013 18,394 18,169 17,565

Chemicals and allied products........,.. 1,126 1,126 1,127 1,114 1,107 1,039 3,386 3,378 3,408 3,305 3,274 3,475
Petroleum and coal products............... 585 536 524 587 545 496 1,427 1,396 1,311 1,496 1,454 1,408
Rubber and plastics products, n.e.c...... 417 421 408 416 419 387 1,215 1,238 1,253 1,184 1,198 1,233
All other nondurable goods tndustries.... 4,277 4,240 4,239 4,235 4,225 3,951 12,400 12,166 12,041 12,409 12,243 11,449


PPreliminary.


data)


GROUP









OF MANUFACTURERS U


(Based


on seasonally adjusted data)


ne shp t Unfilled orders shipments ratio'
Inventories shipments ratio
(months' backlog)
Industry group
Nov Oct. Sept. Nov. Nov Oct 1 Sept. Nov.
1973 1973r 1973 1972 1973p 1973r 1973 1972

All manufacturing industries, total.................. 1.54 1,56 1,59 1.61 2.53 2.52 2.57 2.17
Durable goods industries, total..................,........ 1.85 1.85 1.90 1.92 3.00 2.97 3.02 2.57
Stone, clay, and glass products..,...,................ 1.26 1.25 1.32 1.22 (NA) (NA) (NA) (A
Primary metals........................................... .......... 1.35 1.37 1.49 1.81 2.20 2.23 2,37 1.49
Fabricated metals........................................ 1.87 1.83 1.96 1.93 3.46 3.45 3,56 2.95
Machinery, except electrical............................. 2.51 2.54 2.56 2.85 3.28 3.25 3.17 2.89
Electrical machinery..................................... 2.28 2.25 2.24 2.08 3.67 3.59 3.57 3.17
Transportation equipment................................. 1.65 1.64 1.65 1.61 5.18 5.09 5.02 4.69
Instruments and related products......................... 2.53 2.48 2.54 2.25 (HA) (HA) (iA) (NA)
Nondurable goods industries, total......................... 1.16 1.19 1.21 1.24 0.54 0.56 0.60 0.51
Food and kindred products................................ 0.85 0.87 0.88 0.94 (X) (X) (X) (X)
Tobacco products......................................... 4.54 4.52 4.82 4.54 (X) (X) (X) (X)
Textile mill products................................... 1.71 1.74 1.78 1.73 (NA) (HA) (NA) (HA)
Paper and allied products................................. 1.10 1.10 1.12 1.17 (NA) (HA) (NA) (NA)
Chemicals and allied products............................ 1.23 1.26 1.29 1.38 (X) (X) (X) (X)
Petroleum and coal products.............................. 0.75 0.78 0.77 0.89 (X) (X) (I) (x)
Rubber and plastics products, n.e.c..................... 1.43 1.47 1.50 1.41 (X) (X) (X) (X)


Not available.


~Preliminary.


'bExcludes the following industries with


no unfilled


order:


Not applicable.
Wooden containers;


glass containers;


metal


barrels


and drums;


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


chemicals:;


petroleum and coal products;


motor


GROUP









Appendix


The following is a descriptionofthe 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 310,000estab-
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 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 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 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 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 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 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
net sales to outside customers. Although this
7




UNIVERSITY OFP LORIDA

8 3 1262 u8S8I 4185


definition of shipments in the monthly reports
differs from that used in the annualestablishment
reports, it is assumed that the month-to-month
changes in company sales in the industry are
representative of the month-to-month shipments
of the establishments in the industry.


Inventories--End-of-month inventories in the
monthly survey are identical in definition to the
end-of-year inventories in the ASM. In the ASM,
respondents are asked to report inventories of
individual establishments at approximate current
cost if feasible; otherwise, "atbookvalues. Since
different methods of inventory valuation are used
(LIFO, FIFO, etc.), the definition of the aggregate
inventories for establishments in an industry is
not precise. The figures on the change in in-
ventories from one period to the next are of
greater significance than the actual aggregates.

Inventories are reported by stage of fabri-
cation: (a) finished goods; (b) work in process;
and (c) materials, supplies, fuel, and other
inventories. In using inventories by stage of
fabrication at the all manufacturing and 2-digit
industry levels as well as for the durable and non-
durable goods sectors, it should be noted that a
finished product of one industry may be a raw
material for another industry at the next stage of
fabrication. Insofar as the durable and nondurable
goods sectors and also the 2-digit industry groups
contain industries with successive stages of
processing, the same type of commodity may be
included under different inventory categories in
the aggregate statistics.


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 fullamountofthe 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 of partial or complete cancellation
of existing orders.

Unfilled orders include orders as defined above
that have not yet passed through the sales account.
Generally, unfilled orders at the end of the re-
porting period are equal to unfilled orders at the
beginning of the period plus net new orders
received less net sales.
While both new orders and unfilled orders are
used in reviewing individual company reports for
consistency, only unfilled orders are estimatSe
directly in the tabulated totals. New orders are
derived from the shipments plus net change in
unfilled orders for each industry category. This
procedure is followed for seasonallyadjusteddata
as well as for the unadjusted data: Shipments and
unfilled orders are seasonally adjusted indepeid-
ently. Seasonally adjusted neworders are derived
from seasonally adjusted shipments and sea-
sonally adjusted unfilled orders.