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:
December 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:
AA00008477:00074

Related Items

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

Full Text

A UNITED STATES
DEPARTMENT OF
COMER C
PUBLUCATIO


U. S. DEPARTMENT OF COMMERCE Social pa,'


CURRENT


Manufacturers'
Inventories,


1973


oi.Statistics Administration BUREAU OF THE CENSUS


INDUSTRIAL


FOR RELEASE: January 31, 1974


2:99


SUMMARY


orders


for manufactured


December decreased $2.78 billion or
to $76.66 billion from $79.44 billion in
after seasonal adjustment. Shipments
$1.47 billion or 1.9 percent to $75.55 b
$77.02 billion in November. Unfilled
creased $1.11 billion or 1.0 percent
billion at the end of December. Manu
inventories increased $2.16 billion or


produ


I

'-p

cts~*


1.5 percent
November
decreased
million from
orders in-
to $115.44
ifacturers'
1.8 percent


to $120.59 billion at the end of December. The
inventories to shipments ratio increased from
1.54 to 1.60.


For the 3 months ending in December, the
average month to month change in new orders
increased 0.7 percent compared with a 0.1
percent decrease for the 3 months ending in
September and a 1.2 percent increase for the
3 months ending in June.

NEW ORDERS

New orders for durable goods decreased
$2.95 billion or 6.6 percent in December pri-
marily due to decreases in motor vehicles and
parts' ($1.13 billion), aerospace industries ($585
million) and shipbuilding and railroad equipment
industries ($680 million). Exclusive of the trans-
portation industries, new orders in December for
durable goods declined $505 million or 1.5
percent.
SHIPMENTS

Shipments of durable goods decreased $1.58
billion or 3.8 percent to $40.32 billion in Decem-
ber. Virtually all of this decrease was attributable
to the motor vehicles and parts industry ($1.25


SERIES:


illion)P1914
creased $1
billion. Al


M3-1(73)-12


p rents of nondurable goods in-
*illion or 0.3 percent to $35.23
Sthe nondurable goods, increases
($310 million) and petroleum and


dctMLSprJtas ($120 million) were partially offset
8f^Sl'neases in other sectors of nondurables.
UNFILLED ORDERS

Unfilled orders of durable goods increased
$1.05 billion or 1.0 percent to $110.66 billion
at the end of December. This increase was led
by nonelectrical machinery ($660 million) and
fabricated metal products ($295 million).


INVENTORIES


Inventories of durable goods increased $1.46
billion and nondurable goods increased $695
million between the end of December and
November. At the all manufacturing level,
materials and supplies increased $915 million,
work in process inventories increased $720
million and finished goods increased $520 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 January is
scheduled for release on February 22, 1974 and
the full report is scheduled for release on
March 5, 1974.


For an explanation of terms used
report see appendix following table 5.


in this


tIt should be noted that new orders for the
motor vehicles industry are not reported as such
.* |.H^ _* _


Inquiries concerning these figures should be
addressed to the U.S. Department of Commerce,
^rio nrln Trnr P~rnnnmr~r\r ,-nit-icrirc, A/rlminicrrar-irnn


Shipments,
and Orders


December


REPORTS









OF MANUFACTURERS' SHIPMENTS, INVENTORIES, AND


(Millions


of dollars)


Industry


group


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


Total, excluding
portation.......


Durable g

Stone, c

Primary


goods industries,


indus-


trans-

..total....
total.


elay, and glass products.


metals,


t


Blast furnaces,
Nonferrous meta


All other primary


Fabricated


otal..--,..--
steel mills.
Lls...........


metals....


metal products


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


Metal


Machinery,


cans, barrels,


except


electrical,


total......................,e


Engines


and turbines.......


Farm machinery and equipment.


Construction,


mining,


material handling equipment.


Metalworking


General ind
Electrical ma
Electrical
distribute
industrial
Household a


machinery......


us trial
chinery,


machinery
total...


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


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


Communication


equipment.....


Transportationequipment, total


Motor vehicles


Aircraft,


Shipbuilding


and parts....


missiles,


and railroad


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


Instruments
products, t
Scientific


and related


and engineering..


All other instruments


related


products...


All other durable


and
..... *5


goods


industries..,........ .... ..


Nondurable


goods industries,


total..............c ...........


Food and kindred


products,


total......m..........
Meat products.......
Fats and oils.......


Tobacco
Textile

Paper a


products......
mill products..


nd allied


*Se.a at
* te*,.
....**t

...s U..
cc.....


products,


total.............,........t


paper


Paperboard
All other

Chemicals an


Industrial


, containersc.........
containers*..***.


paper

d alli


containers..

ed products,


cheincials,


except


pigments..................4


Drugs, s

Petroleum
Rubber and


oap,


and toiletries.


and coal products..,


plastics


products,


n.e.c.........*.*.. a.*.*..


All other nondurable


goods


Shipments


Total inventories


iWithout seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment1
Adjustment adjusteCnt


75,548

66,454

40,321

2,183


41,896,

2,162

6,792
3,367
2,*5
. 930


6,614
521
654

1,324
381
573
5,382


1,022
680
575
1,125

10,624
6,668

2,775

428


1,232
608

624


4,376


35,123


75.269


2,178


6,353
573
500

1,293
353
575
5,372


998
687
524
1,139

10,809
6,932

2,655

405


1,245
603

642


4,232


33.702


5,687


5.521


76.387


42,&356~
~ 4<
2,1.36

6,3834
3,067
2,428


1.736


120,591

102,606

79,104

2.791


118,435

100,672

77,645

2,737


40,790


10,432
1,163
741


117,224

99,458

76,951

2.720


8.513


- I .~ .. -


120,037

102,115

78,511

2,730


8.678


117,842


1,7ae

1,387


7,185


40,668


10,904
1,177
810


107,415


m K










, INVENTORIES S,


Millions


of dollars)


Industry


group


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


Total, excluding
portation......


Durable g

Primary


goods industries


metals,


Blast furnaces,


Nonferrous

Fabricated m

Machinery, e
total..,,.a

Engines an


Construction,


total.


indus-


trans-


Total.

..ep .* .


steel mills.


metals...


etal products.....


xcept


electrical


,d turb*nes***......*****
d turbines.........


mliiing,


material handling equipment.


Metalworking


machinery......


General industrial machinery.


Electrical ma

Electrical
distribute
industrial
Household a


ehinery,


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
total.,,....

Industrie
orders.,
Industrie
orders..


goods industries,


s with unfilled
*9..***** *m..S*5***S.:


s
*


without


unfilled


New orders


Unfilled


orders


Without seasonal Without seasonal
Seasonally adjusted atu seasna Seasonally adjusted adjUstment
adjustment adjustment


v.v
2,511

5,020


7,306

739

1,491
390
656

5,516



1,233
740
381
1,105


9,134


2,307

543


7,863


35,290


8.564


4,997


7,313

710

1,558
461
561

5,788



1,175
670
653
1.176


11,573


2,893

1,221


7,914


35,126


8,687

26,439


5,135


7,174

711

1,505
489
689

5,816



1,097
674
530
1,152


11,368


3,156

462


7,676


33,721


8,465

25,256


73,420


78,91


4,849


6,889

676

1,397
423
555

5,748



1,150
637
629
1,110


11,880


2,847

1,228


7.684


115,436

84,012

110,655

14,771

9,894
2,707

14,910


21.981


5,782


114,324

82,939

109,606

14,934

10,051
2,816

14,614


21,321

5.583


2,233

19,706



5,422
121
761
6,328


31,385


19,765

7,241


7,646


4,718


4,718


1


11,897

81,460

07,185

14,996

10,309
2,730

14,329


82,976

109,590

14,219

9,458
2,623

14,818


21,850

5,765


112,600

81,266

107,921

13,770

9,086
2,647

14,491


21,191

5,572


- Represents


zero.


~Preliminary.


Revised.


and calendar-month variations.









Table 2.--VALUE


OF MANUFACTURERS'


ShIPMENTS,


AND SUPPLEIENTARY


(Mxllions


AND ORDERS,
of dollars)


PX~R MARICn


SERIES


Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
adjustment' adjustment
Industry group
Dec Nov. Oct. Dec Nov. Dec. Dec Nov oct. Dec Nov Dec.
1973 1973r 1973 1973P 1973r 1972 1973 1973 1973 1973 19735 1972

Shipments Total inventories


All manufacturing industries, total.. 75,548 77,019 75,269 71,739 76,387 63,675 120,591 18,435 117,224 120,037 117,842 107,415

Durable goods industries, total............ 40,321 41,896 41,567 38,163 41,356 34,636 79,104 77,645 76,951 78,511 77,154 69,803
Nondurable goods industries, total........ 35,227 35,123 33,702 33,576 35,031 29,039 41,487 40,790 40,273 41,526 40,688 37,612

Industry groups arranged by market
categories:
Home goods and apparel................... 7,064 7,178 6,878 6,351 7,225 5,709 13,210 13,065 13,146 12,758 12,580 11,450
Consumer staples......................... 14,797 14,915 14,479 14,592 15,104 12,748 16,065 15,808 15,638 16,376 16,110 14,704
Equipment and defense products, except
automotive.............................. 10,560 10,690 10,222 10,690 10,392 9,318 31,122 30,582 30,302 30,990 30,507 27,242
Automotive equipment..................... 6,848 7,980 8,306 5,811 8,120 6,458 7,074 7,038 7,021 7,087 7,062 6,090
Construction materials, supplies, and
intermediate products................... 6,358 6,301 6,112 5,778 6,194 5,029 10,239 10,019 9,764 10,083 9,828 8,795
Other materials and supplies and
intermediate products................... 30,121 29,955 29,272 28,517 29,352 24,413 42,881 41,923 41,353 42,743 41,755 39,134

Supplementary series:2
Household durable goods industries....... 3,197 3,260 3,152 3,040 3,292 2,690 6,239 6,112 6,210 6,060 5,955 5,406
Capital goods industries................. 12,240 12,320 12,096 12,523 12,255 10,965 35,059 34,541 34,200 34,878 34,502 30,619
Nondefense............................. 10,646 10,713 10,386 10,776 10,603 9,251 29,452 29,033 28,669 29,302 28,962 25,604
Defense .............................. 1,594 1,607 1,710 1,747 1,652 1,714 5,607 5,508 5,531 5,576 5,540 5,015

New orders Unfilled orders


All manufacturing industries, total.. 76,660 79,441 77,758 73,420 78,917 65,814 115,436 114,324 111,897 114,279 112,600 85,314

Durable goods industries, total............. 41,370 44,315 44,037 39,830 43,845 36,730 110,655 109,606 107,185 109,590 107,921 81,345
Nnndurable goods industries, total......... 35,290 35,126 33,721 33,590 35,072 29,084 4,781 4,718 4,712 4,689 4,679 3,969

Industry groups arranged by market
categories:
Home goods and apparel................... 6,988 7,274 6,948 6,222 7,220 5,629
2s909 2,978 2,885 2,803! 2,928 2,339
Consumer staples......................... 14,800 14,911 14,488 14,596 15,113 12,754
Equipment and defense products, except
automotive.............................. 11,158 12,253 11,203 11,457 11,607 10,200 035 e414 44,359
56381 55,636 54,035 56304 55414 44,359
Automotive equipment..................... 6,797 8,018 8,307 5,934 8,326 6,560
Construction materials, supplies, and
intermediate products................... 6,734 6,558 6,630 6,060 6,315 5,322 13,958 13,581 13,232 13,727 13,445 10,091
Other materials and supplies and
intermediate products................... 30,183 30,427 30,182 29,151 30,336 25,349 42,188 42,129 41,654 41,445 40,813 28,525

Supplementary series:2
Household durable goods industries....... 3,095 3,358 3,220 2,910 3,280 2,631 2,280 2,379 2,281 2,189 2,318 1,853
Capital goods industries................. 12,952 14,124 13,488 13,258 13,756 12,176 62,676 61,968 60,165 62,440 61,705 50,036
Nondefense............................. 11,600 11,970 11,595 11,639 11,750 10,041 41,461 40,511 39,253 41,154 40,289 30,317
Defensev............................... 1,352 2,154 1,893 1,619 2,006 2,135 21,215 21,457 20,912 21,286 21,416 19,719


.During 1968
gate figures on
included in the
variations; unf


manufacturers
shipments, or


defense


killed


serie


orders


in ordnance,


ders, a
's.


communications,


nd total inventories
PPreliminary. r


and inventories


aircraft


of work
evised.


as of end of month.


and aircraft


performed


'Shipments


parts,


and shipbuildin


for the Department


new orders


supplementary


series


of Defense
adjusted


g industries be
e. The results
for trading-day


are regroupings


of the


gan to


of these


provide


aggre-


reports


and calendar-month


separate


industry


categories


as follows:


Household


durable


appliances;:


Capital


goods


Products
Nondefense
(excludin
equipment


Defense


goods


ophthalmic
industries
d series)


products -
, household


industries
goods, wa


- Household


tches


- The capital
categories.


Machinery,
appliances


communication


products


communications,


- Based o
aircraft


equipme
n separa
and air


eNcept


furniture;


and clocks;


goods


industries


electrical


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


kitchen


articles


and miscellaneous


series


(excluding
components ,


nd aircraft
defense wor


nd


Shipments of Defense-Oriented Industries, for the


and pottery;


personal


is comparable


cutlery,


handtools,


and hardware;


household


goods.


to the previous


farm machinery and equipment
and the nondefense portions


parts,


Producers'


and machine


of shipbuilding


Capital

shops), c


Goods and the Defense


loctrical


and repairing a


machinery
.nd railroad


and ordnance.


k filed by large


shipbuilding.
specified in


The data
dustries.


defense


contractors


are comparable to tho


in the follow
se published


ing industries:
annually in the


ordnance,
MA-175,










Table 3.--MANUFACTURERS'


AND LONG TERM PERCENT


(Based


on seasonally


adjusted


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

3 months12mnh
Item and industry group 3 onths 12 months
Nov.- Oct.- Sept.- Average Average
Dec. Nov. Oct. Sept.- June- Mar.- Dec. 1972- rise decline
1973 1973 1973 Dec. 1973 Sept. 1973 June 1973 Dec. 1973

Shipments:
All manufacturing industries......... -1.9 +2.3 +3.0 +1.1 +0.7 +0.9 +1.0 +1.3 -1.

Durable goods industries, total........ -3.8 +0.8 +3.5 +0.2 +0.8 +1.0 +0.8 +1.9 -1.
Nondurable goods industries, total..... +0.3 +4.2 +2.4 +2.3 +0.5 +0.7 +1.2 +0.9 -0.7

Total inventories:
All manufacturing industries......... +1.8 +1.0 +1.0 +1.3 +0.9 +0.9 +1.0 +0.5 -0.1
New orders:
All manufacturing industries......... -3.5 +2.2 +3.5 +0.7 -0.1 +1.2 +0.9 +1.8 -1.5
Durable goods industries, total........ -6.6 +0.6 +4.2 -0.6 -0.6 +1.6 +0.7 +2.8 -2.4
Nondurable goods industries, total..... +0.5 +4.2 +2.6 +2.4 +0.5 +0.6 +1.2 +1.0 -0.6
Unfilled orders:
Durable goods industries, total........ +1.0 +2.3 +2.4 +1.9 +2.4 +3.5 +2.6 +1.0 -1.1











Table 4.--VALUE OF MANUFACTURERS' INVETORIES, 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
Dec. Nov. Oct. Dec. Nov. Dec. Dec. Nov. Oct. Dec. Nov. Dec.
1973 1973r 1973 1973 1973r 1972 1973p 1973r 1973 1973 1973r 1972

Total Materials and supplies

All manufacturing industries, total.. 120,591 18,435 117,224 120,037 117,842 107,415 40,229 39,312 38,836 40,636 39,286 34,320
Durable goods industries, total........... 79,104 77,645 76,951 78,511 77,154 69,803 24,107 23,444 23,064 24,253 23,441 20,162
Stone, clay, and glass products.......... 2,791 2,737 2,720 2,730 2,626 2,410 997 968 936 1,001 962 809
Primary metals........................... 9,314 9,226 9,222 9,459 9,255 9,828 3,601 3,494 3,376 3,776 3,593 3,456
Machinery (electrical and nonelectrical). 29,231 28,667 28,266 29,006 28,492 24,567 8,398 8,076 7,932 8,402 7,975 6,514
Transportation equipment.............,.... 17,985 17,763 17,766 17,922 17,884 16,162 3,583 3,594 3,624 3,634 3,665 3,075
All other durable goods industries....... 19,783 19,252 18,977 19,394 18,897 16,836 7,528 7,312 7,196 7,440 7,246 6,308
Nondurable goods industries, total......... 41,487 40,790 40,273 41,526 40,688 37,612 16,122 15,868 15,772 16,383 15,845 14,158
Chemicals and allied products........... 7,226 7,208 7,185 7,243 7,092 7,064 2,771 2,706 2,681 2,788 2,682 2,433
Petroleum and coal products............... 2,653 2,548 2,474 2,699 2,617 2,340 577 567 542 587 567 512
Rubber and plastics products, n.e.c...... 2,613 2,574 2,578 2,627 2,559 2,394 974 939 919 976 956 716
All other nondurable goods industries.... 28,995 28,460 28,036 28,957 28,420 25,814 11,800 11,656 11,630 12,032 11,640 10,497

Work in process Finished goods

All manufacturing industries, total,. 42.655 41,935 41,405 42,121 41,897 37,655 37,707 37,188 36,983 37,280 36,659 35,440
Durable goods industries, total........... 36,039 35,519 35,082 35,659 35,529 31,812 18,958 18,682 18,805 18,599 18,184 17,829
Stone, clay, and glass products.......... 406 394 389 383 363 314 1,388 1,375 1,395 1,346 1,301 1,287
Primary metals........................... 3,413 3,405 3,455 3,402 3,395 3,491 2,300 2,327 2,391 2,281 2,267 2,881
Machinery (electrical and nonelectrical). 13,276 13,203 12,983 13,157 13,245 11,146 7,557 7,388 7,351 7,447 7,272 6,907
Transportation equipment................. 12,823 12,589 12,576 12,746 12,639 11,757 1,579 1,580 1,566 1,542 1,580 1,330
All other durable goods industries....... 6,121 5,928 5,679 5,971 5,887 5,104 6,134 6,012 6,102 5,983 5,764 5,424
Nondurable goods industries, total......... 6,616 6,416 6,323 6,462 6,368 5,843 18,749 18,506 18,178 18,681 18,475 17,611
Chemicals and allied products............ 1,056 1,119 1,126 1,063 1,107 1,068 3,399 3,383 3,378 3,392 3,303 3,563
Petroleum and coal products.............. 649 591 536 640 593 471 1,427 1,390 1,396 1,472 1,457 1,357
Rubber and plastics products, n.e.c...... 438 416 421 445 415 405 1,201 1,219 1,238 1,206 1,188 1,273
All other nondurable goods industries.... 4,473 4,290 4,240 4,314 4,253 3,899 12,722 12,514 12,166 12,611 12,527 11,418

PPreliminary.


data)











OF MANUFACTURERS


(Based


on seasonally


adjusted


Unfilled orders shipments ratio'
Inventories shipments ratio ot ,
*months* backloge

Industry group
Dec. Nov. Oct. Dec. Dec. Nov. Oct. Dec.
1973p 1973r 1973 1972 1973p 1973r 1973 1972


All manufacturing


industries


Durable goods industries, total.

Stone, clay, and glass product
Primary metals .. ... ...,.....
Fabricated metals..... .......
Machinery, except electrical..
Electrical machinery..........
Transportation equipment......
In'trunents and related produce

Nondurable goods industries, tot

Food and kindred products.....
Tobacco products.......... ....
Textile mill products.........
Paper and allied products.....


Chemicals
Petroleum


and allied products.
and coal products...


total.


* 9 9 ****** **mt999944 99* ** ** *

s. ..t. -...., *. *. .* *

S9 C' 4* 91999 ** *~ *9I *t* ** J
* 9* t**~ C 9 *9 4 9 C m *** *><
*69*..............*9 99999w 9.* .mm


* 991 >~~ mm* *9t *
....m..... ...... ......... ..
......... 9. ..... m. ......
ts....me.m ...m.m 9. .emW .C.I *


* 9** *9*9~~* 99m.*#,.. .inI...
* *mI~* 9*****~ C *9...m -9


Rubber and plastics products,


1.18


1.16


1.19


(NA) Not available.


~Preliininary.


'Excludes the following industries with


rRevis~.
1W unfilled


(X)
order


Not applicable.
Wooden containers;


glass containers;


metal


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.


data


motor


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 universeofabout 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 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


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 theplant. 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


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.


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

3 1262 08569 4334


definition of shipments in
differs from that used in the
reports, it is assumed that
changes in company sales
representative of the month
of the establishments in the


the monthly reports
annual establishment
the month-to-month
in the industry are
-to-month shipments
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, "atbook values. Since
different methods of inventory valuation are used
(LIFO, FIFO, etc.), .the definition of tife aggregate
inventories for establishments in an industry is
not precise. The figures on the change in in-
ventories from one period to the' dext 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 asthoseorders received
for future delivery. They also include the net


sales
incre
filled
only
such
case
value


value of contract change documents
ase or decrease the sales value of th
orders to which they relate. Orders in
those supported by binding legal docui
as signed contracts, or letter contract
of letter contracts the full amount of the
is included if the parties are in subst


which
ie un-
iclude
ments
ts In
sales
antial


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 f:r
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 seasonally adjusted 0ta
as well as for the unadjusted data. Shipments d
unfilled orders are seasonally adjusted independ-
ently. Seasonally adjustedneworders are derived
from seasonally adjusted shipments and sea-
sonally adjusted unfilled orders.


-a1