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:
January 1974
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:
AA00008477:00075

Related Items

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

Full Text
~Ci4Y-~


CURRENT


INDUSTRIAL


manufacturers'
Inventories,


REPORTS


Shipments,
and Orders


January 1974


FOR RELEASE:


March 5, 1974


SERIES:


M3 1(74)-1


SUMMARY


groups
dustries


registered increases with the foods in-
accounting for $690 million of the


New orders
January increase
to $80.93 billion fi
after seasonal ad
$3.70 billion or
from $75.36 bil
orders increased
to $117.66 billion


for manufactured p
d $4.12 billion or 5
rom $76.81 billion in
Ijustment. Shipments
4.9 percent to $79.
lion in December.
I $1.88 billion or 1
x at the end of Januar


products in
.4 percent
December
increased
.05 billion
Unfilled
.6 percent
ry. Manu-


facturers' inventories increased $1.23 billion
or 1.0 percent to $122.10 billion at the end
of January. The inventories to shipments ratio
decreased from 1.60 to 1.54.


total.


UNFILLED ORDERS


Unfilled orders of durable goods increased
$1.61 billion or 1.4 percent to $112.56 billion
at the end of January as increases in electrical
machinery ($875 million), nonelectrical ma-
chinery ($460 million), aerospace industries ($380
million) and fabricated metal products ($380
million) were partially offset by a decline in
primary metals ($920 million .


For the 3
average month
increased 1.4
percent increa
October and a
months ending i


months ending in January, t
to month change in new orde
percent compared with a 1
se for the 3 months ending
0.8 percent increase for the
n July.


INVENTORIES


he
rs
.2
in
3


NEW ORDERS


Inventories of durable goods increased $810
million and nondurable goods increased $415
million between the end of January and December.
At the all manufacturing level, materials and
supplies increased $930 million, work in process
inventories decreased $55 million; and finished
goods increased $350 million.


New
billion
due to
billion)
lion).
househo
million
creased
defense


orders fc
or 4.8
increasesE
and the
Among
Ild dural
and the
$1.47 b
segmen


r durable goods increased $1.99
percent in January primarily


Sin electrical machinery ($
aerospace industries ($950
the supplementary series,
les industries increased
capital goods industries
millionn as the defense and
ts increased $1.05 billion


il.04
mil-
the
$200
in-
non-
and


$425 million respectively.


SHIPMENTS


SCHEDULED RELEASE DATES


The figures on the durable goods industries


in this report sup
the advance report
report is based on
the estimates are
Final figures will a
report to be publ
advance report on


ersede
on dur
more
also c
appear
ished
durable


those issued earlier in
able goods. The present
complete reporting, but
consideredd preliminary.
as historical data in the
for next month. The
e goods for February is


scheduled for release on March 21, 1974 and
the full report is scheduled for release on
April 1, 1974.


Shipments of durable goods increased $1.72
billion or 4.3 percent to $41.93 billion in January.
This increase was led by motor vehicles and parts
($525 million), aerospace industries ($295 mil-
lion) and primary metals ($255 million). Ship-


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,








OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


All manufacturing
tries:


excluding


indus-


traits-


portation... ..........


Durable g

Stone, c

Primary


oods industries,


total.


lay, and glass products.


metals,


Blast furnaces
Nonferrous met


All other primary


Fabricated


total.........
, steel mills.
als...........


metals....


metal products


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


Metal


, barrels,


drums...S***....*...... ....


Machinery,


Engines


except


electrical


and turbines........


Farm machinery and equipment.


Construction
material hi
Metalworkin
General ind
Electrical ma
Electrical
distribute
industrial
Household a


)n, mining, and
handling equipment.


us
,chi


machinery......
trial machinery
winery total...


transmission and
on equipment and
apparatus.......
ppllances........


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


Communication


equipment.....


Transportation equipment, 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


goods


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


Nondurable


goods


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

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


Tobacco
Textile

Paper a


products.


industries


products


........... ..
3t*S.g..*eee.
....a.g...,.. U

........ U...


mill products..


nd allied


products,


total..........a....... ......


Pulp, paper
Paperboard


on etca.le.......
containers..***


All other paper containersa.

Chemicals and allied products,


Industrial


cheacials,


except


pigments.aa.......a**** ..


Drugs,

Petroleum
Rubber an


aoap,


and toiletries.


and coal products...


d plastics


products,


nUe.cSo..Crn...*ee* agade*...
All other nondurable goods
industries..**..........*.*..*


Shipments


Seasonally adjusted


79,054

69.028


2,880

467


1,275
625

650


4,272


37,127


12,781
2,924
1,112

582
2.825


6.299


75,355

66,199

40,203

2,048

6,687
3,181
2,586
920


4,730

504


6,630
546
614

1,372
402
605
5,387


1,046
733
509
1,152

9,156
5,490

2,583

370


1,226
608

618


4,339


35.152


6.140


77,019

66,395


5.895


Without


seasonal


adjustment


73.706


2,504

411


1,143
591

552


3,791


34,853


5.851


71.571


2,923

411


1,218
584

634


3,844


33.524


5,463


63,764

53.980


2.346


122,096

103,724

80,252

2.819


2,741

2,650

,992


120,870

102,637

79,441

2.813


1,454


7,512


41.429


7.268


118,435

100.672


A
I....,


Without


seasonal


jJtustment'


103,862

80,113

2.819


7.333


102,142


* s u -- .



Jan




92,144

70 625

2,467

9,734
5,300
3,394
1,040


7,764

681.


14,498
1,242
1,258

2,857
1,139
1,251
10,454


2,298


GaOUP









T, INVENTORIES,


(Millions


of dollars)


Industry


group


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


Intal,


excluding


portation.......


Durable g

Primary


oods industries,


indus-


trans-


total.


metals


Blast furnaces


Nonferrous

Fabricated m

Machinery, e


fligines


total.........

. steel mills.


metals..........

etal products.....


xcept


electrical,


and turbines........


Construction,


mining,


material handling equipment.


Metalworking


machinery..,....


General industrial machinery.


Electrical

Electric
distribu
industry
Household


machinery,


total...


transmission and
Lon equipment and
l apparatus.......
appliances........


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


Comaunicatlon

Transportation


~~~t.....

equipment,


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


Aircraft, aS
parts.*....
Shipbuilding


sales,


and railroad


equipment.o...........*...


All other durable


goods


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

Nondurable goods industries,
total....... ......h 3.......l

Industries with unfilled
orders.......................


Industries


without


unfilled


New orders


Unfilled


orders


S Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment1
adjustment -- *adj ustment-


3.259


7.740


76,811


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


4,877


7,063

596

1,451
426
617

5,822



1.147
616
496
1,400


10,542


3,071

827


7,001


35,120


8,778

26,342


5,067


7,059

826

1,325
500
672

5,614



1,265
660
467
1,158


8,747


2,640

546


6,928


33,581


8,257

25,324


4,102

5,935

590

1,108
370
456

4,722



927
554
310
1,061


10,422


2,728

357


6,293


28,870


7,443

21,427


117,662

85,416

112,559

13.922


115,785

84,339

110,953

14,844

9,884
2,787

15,122


22,002

5.781


20,593



5,858
113
671
6,513


32,246


19,688

7,777


7,836


5,103


5,103
S


114,324

82,939

109,606

14.934


19,706



5,422
121
761
6,328


31,385


19,765

7,241


7,646


4,718


4.718


118,350

85,966

113,350

14.629


15,471


22,592


83.296


- Represents
1Adjusted to


~Pre1imtnar~.


and calendar-month









OF MANUFACTURERS'


SHIRRENTS,


INVE?4TOJ1IES,


(Millions


AND ORDERS,
of dollars)


FOR MARKET


CATFflORIES


AND SUPPLEMENTARY


SERIES


Without seasonal Without seasonal
Seasonally adjusted adjustment, Seasonally adjusted adjustment
adjustment' adjustment
Industry group ---
Jan, Dec. Nov. Jan. Dec. Jan. Jan. Dec. Nov. Jan. Dec. Jan.
1974 1973r 1973 1974p 1973r 1973 1974p 1973r 1973 1974p 1973r 1973

Shipments Total inventories


All manufacturing industries, total.. 79,054 75,355 77,019 73,706 71,571 63,764 122,096 120,870 118,435 122,307 120,312 108,572

Durable goods industries, total........... 41,927 40,203 41,896 38,853 38,047 35,061 80,252 79,441 77,645 80,113 78,835 70,625
Nondurable goods industries, total......... 37,127 35,152 35,123 34,853 33,524 28,703 41,844 41,429 40,790 42,194 41,477 37,947

Industry groups arranged by market
categories:
Home goods and apparel................... 7,137 6,961 7,178 6,310 6,257 5,729 13,319 13,231 13,065 13,126 12,780 11,759
Consumer staples......................... 15,324 14,746 14,915 14,445 14,548 12,222 16,099 16,024 15,808 16,457 16,337 14,706
Equipment and defense products, except
automotive.............................. 11,011 10,636 10,690 10,076 10,763 8,790 31,480 31,140 30,582 31,459 31,007 27,574
Automotive equipment..................... 7,260 6,724 7,980 7,096 5,876 7,578 7,401 7,305 7,038 7,501 7,316 6,234
Construction materials, supplies, and
intermediate products................... 6,327 6,314 6,301 5,375 5,749 4,858 10,246 10,220 10,019 10,203 10,062 8,900
Other materials and supplies and
intermediate products................... 31,995 29,974 29,955 30,404 28,378 24,587 43,551 42,950 41,923 43,561 42,810 39,399

Supplementary series:2
Household durable goods industries....... 3,179 3,143 3,260 2,819 2,988 2,511 6,358 6,263 6,112 6,255 6,083 5,521
Capital goods industries..............,,.. 12,659 12,208 12,320 11,554 12,484 10,281 35,482 35,103 34,541 35,365 34,921 31,012
Nondefense............................. 11,018 10,661 10,713 10,109 10,787 8,787 29,801 29,488 29,033 29,704 29,337 25,877
Defense*............................... 1,641 1,547 1,607 1,445 1,697 1,494 5,681 5,615 5,508 5,661 5,584 5,135

New orders Unfilled orders


All manufacturing industries, total.. 80,928 76,811 79,441 77,438 73,590 66,527 117,662 15,785 114,324 118,350 114,623 88,077

Durable goods industries, total............ 43,532 41,546 44,315 42,318 40,009 37,657 112,559 10,953 109,606 113,350 109,886 83,941
Nondurable goods industries, total......... 37,396 35,265 35,126 35,120 33,581 28,870 5,103 4,832 4,718 5,000 4,737 4,136

Industry groups arranged by market
categories:
Home goods and apparel................... 7,204 6,858 7,274 6,367 6,105 5,647
2,965 2,881 2,978 2,850 2,783 2,259
Consumer staples......................... 15,339 14,749 14,911 14,459 14,551 12,224
Equipment and defense products, except
automotive.............................. 12,506 11,221 12,253 11,919 11,514 9,64857940 56,386 55,636 58,227 56,309 45,44
Automotive equipment.................... 7,318 6,887 8,018 7,169 6,016 7,803
Construction materials, supplies, and
intermediate products................... 6,644 6,897 6,558 5,779 6,234 5,119 14,482 14,165 13,581 14,334 13,928 10.352
Other materials and supplies and
intermediate products................... 31,917 30,199 30,427 31,745 29,170 26,086 42,275 42,353 42,129 42,939 41,603 30,024

Supplementary series:,
Household durable goods industries....... 3,216 3,015 3,358 2,848 2,836 2,423 2,293 2,254 2,379 2,195 2,168 1,765
Capital goods industries................. 14,382 12,912 14,124 13,701 13,211 11,366 64,393 62,671 61,968 64,581 62,434 51,121
Nondefense............................ 11,993 11,569 11,970 11,402 11,607 9,754 42,390 41,419 40,511 42,403 41,111 31,284
Defense ............................... 2,389 1,343 2,154 2,299 1,604 1,612 22,003 21,252 21,457 22,178 21,323 19,837


wDuring 1
gate figures
included in
variations;


968 manufacturers


on shipments,


the defense


unfilled


in ordnance,


orders,


series,


orders


commuflic


nations


and total inventories
PPrellminary. rR


and inventories


, aircraft
of work pe


evised.


as of end of month.


and aircraft


formed


'Shipments


2The


parts,


and shipbuilding


for the Department


and new orders


supplementary


series


of Defense.
adjusted fo


industries


began to provide


The results of these


hr trading-day


are regroupings


aggre-


reports


and calendar-month


of the separate


categories


as follows:


Household


durable


apjil I ances;


Capital


goods


Products
Nondefense
excludingn
equipment


Defense


goods


ophthalmic
industries
d series)


products -
L household


industries
goods, wa


- Household


tches,


- The capital
categories.


Machinery,
appliances


communication


products


communications,


go


except


equipment,


- Based on separate


aircraft


and aircra


furniture;


and clocks; an
ods industries


electrical


and electronic


aircraft
reports o
ft parts,


kitchen


articles


d miscellaneous


series


(excluding
components ,


and aircraft
n defense wor


and pottery;


personal


cutlery,


handtools,


and hardware:


household


goods.


is comparable to the previous

farm machinery and equipment a
and the nondefense portions of


parts,


Producers'


Capital


nd machine shops),
shipbuilding and


Goods and the Defense


electrical
repairing


machinery
and railroad


and ordnance.


k filed by large


and shipbuilding.


defense


contractors


The data are comparable


in the following


to those published


industries:


annually in the


ordnance,
MA-175,


of Defense-Oriented


industry










Table 3.--MANUFACTURERS'


(Based


on seasonally


adjusted


Month-to-month Average monthly rates of change Average. 1968-1973

Dec. 3 months 12 months
Item and industry group 1973- Nov.- Oct.-
Dec. Nov. Average Average
Jan. 1973 1973 Oct. 1973- July- Apr.- Jan. 1973- rise decline
1974 Jan. 1974 Oct. 1973 July 1973 Jan. 1974


Shipments:
All manufacturing industries,......... +4.9 -2.2 +2.3 +1.7 40.9 +1.3 +1.2 .1.3 -1.1

Durable goods industries, total........ +4.3 -4.0 +0.8 +0.4 +0.7 +1.8 +0.9 +1.9 -1.5
Nondurable goods industries, total..... +5.6 +0.1 +4.2 +3.3 +1.2 +0.7 +1.6 +1.1 -0.8

Total inventories:
All manufacturing industries......... +1.0 +2.1 +1.0 +1.4 +1.0 +1.0 +1.0 +0.6 -0.1
New orders:
All manufacturing industries......... +5.4 -3.3 +2.2 +1.4 +1.2 +0.8 +1.2 +1.7 -1.3
Durable goods industries, total........ +4.8 -6.2 +0.6 -0.3 +1.1 +1.1 +0.9 +2.5 -2.1
Nondurable goods industries, total..... +6.0 +0.4 +4.2 +3.5 +1.3 +0.5 +1.6 +1.1 -0.8
Unfilled orders:
Durable goods industries, total........ +1.4 +1.2 +2.3 +1.6 +2.5 +3.2 +2.5 +1.4 -1.0











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

Without seasonal Without seasonal
Seasonally adjusted au eSeasonally adjusted
adjus tent adJus tment
Industry group
Jan. Dec. Nov. Jan. Dec. Jan. Jan. Dec. Nov. Jan. Dec. Jan.
1974 1973 1973 1974 1973r 1973 1974p 1973 1973 1974p 1973r 1973

Total Materials and supplies

All manufacturing industries, total.. 122,096 120,870 18,435 122,307 .20,312 108,572 41,339 40,407 39,312 41,550 40,807 34,480
Durable goods industries, total............ 80,252 79,441 77,645 80,113 78,835 70,625 25,025 24,423 23,444 24,968 24,564 20,238
Stone, clay, and glass products.......... 2,819 2,813 2,737 2,819 2,752 2,467 1,017 1,003 968 1,013 1,007 810
Primary metals............................ 9,347 9,356 9,226 9,494 9,503 9,734 3,598 3,586 3,494 3,663 3,762 3,374
Machinery (electrical and nonelectrical). 29,736 29,262 28,667 29,543 29,034 24,952 8,609 8,359 8,076 8,563 8,360 6,596
Transportation equipment................. 18,372 18,233 17,763 18,445 18,170 16,428 3,931 3,888 3,594 3,947 3,941 3,080
All other durable goods industries....... 19,978 19,777 19,252 19,812 19,376 17,044 7,870 7,587 7,312 7,782 7,494 6,378
Nondurable goods industries, total......... 41,844 41,429 40,790 42,194 41,477 37,947 16,314 15,984 15,868 16,582 16,243 14,242
Chemicals and allied products............ 7,285 7,268 7,208 7,333 7,283 7,053 2,864 2,772 2,706 2,882 2,788 2,452
Petroleum and coal products.............. 2,741 2,626 2,548 2,754 2,672 2,272 600 552 567 611 562 503
Rubber and plastics products, n.e.c...... 2,650 2,627 2,574 2,658 2,641 2,391 998 986 939 985 990 677
All other nondurable goods industries.... 29,168 28,908 28,460 29,449 28,881 26,231 11,852 11,674 11,656 12,104 11,903 10,610

Work in process Finished goods

All manufacturing industries, total.. 42,595 42,649 41,935 42,575 42,117 38,346 38,162 37,814 37,188 38,182 37,388 35,746
Durable goods industries, total............ 35,995 36,078 35,519 35,977 35,694 32,380 19,232 18,940 18,682 19,168 18,577 18,007
Stone, clay, and glass products.......... 384 403 394 385 380 348 1,418 1,407 1,375 1,421 1,365 1,309
Primary metals........................... 3,456 3,450 3,405 3,523 3,440 3,546 2,293 2,320 2,327 2,308 2,301 2,814
Machinery (electrical and nonelectrical). 13,497 13,407 13,203 13,453 13,289 11,369 7,630 7,496 7,388 7,527 7,385 6,987
Transportation equipment................. 12.803 12,761 12,589 12,829 12,682 11,988 1,638 1,584 1,580 1,669 1,547 1,360
All other durable goods industries....... 5,855 6,057 5,928 5,787 5,903 5,129 6,253 6,133 6,012 6,243 5,979 5,537
Nondurable goods industries, total........ 6,600 6,571 6,416 6,598 6,423 5,966 18,930 18,874 18,506 19,014 18,811 17,739
Chemicals and allied roducts............ 1,114 1,095 1,119 1,108 1,102 1,049 3,307 3,401 3,383 3,343 3,393 3,552
Petroleum and coal products.............. 706 653 591 695 644 482 1,435 1,421 1.390 1,448 1,466 1,287
Rubber and plastics products, n.e.ec...... 424 417 416 425 423 404 1,228 1,224 1,219 1,248 1,228 1,310
All other nondurable goods industries.... 4,356 4,406 4,290 4,370 4,254 4,031 12,960 12,828 12,514 12,975 12,724 11,590


PPrelmlinary.
rRevised.


data)









Table 5.--RATIO OF MANUFACTURERS' INVENTORIES TO SHIPMENTS AND UNFILLED ORDERS TO SHIPMENTS, BY INDUSTRY GROUP


(Based


on seasonally adjusted data)


o t ratiUnfilled orders shipments ratio1
Inventories shipments ratio
(months' backlog)
Industry group
Jan. Dec. Nov. Jan. Jan. Dec. Nov. Jan.
1974P 1973r 1973 1973 1974P 197gr 1973 1973


All manufacturing industries,


total


Durable goods industries, total...............


Stone, clay, anid glass products


Primary


metals....


Fabricated metals..........
Machinery, except electrical
Electrical machinery........
Transportation equipment....
Instruments and related prod


Nondurable goods industries, total... ..


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


Chemicals
Petroleum
Rubber and


4.
4~
tt
*4


and allied products
and coal products..
plastics products,


* .
*4t~4

S....
* 8*~
9*~*4
n.e.


1.54


1.54


(NA) Not available.


~Pre1Aminory.


Not applicable.


,ccludes


the following


industries


with no unfilled order:


Wooden


containers;


glass containers; metal cans, barrels


and drums; motor


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


; tobacco; apparel and related products; chemicals; petroleum and coal products; and








Appendix


The following is a descriptionofthe surveyand
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 1 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 performed by
employees of the plant; and value of research and
development performed at the plant. In the aircraft
industry and shipbuilding, the value of work done
in a given year varies considerably from the value
of shipments because of the long lead time between
the input of the materials and labor and the ship-
ments of the completed aircraft or ship. In the
annual survey, therefore, the value of work done
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 OF FLORIDA

iiiHIII l111111 II IIIll IIH 11111111111 II
8 3 1262 08589 4482


definition


of shipments


in the monthly reports


New Orders Received


and Unfilled Orders--


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


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

Inventories are reported by 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 forthedurable 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.


Orders as reported in the monthly
of cancellations during the month
orders received during the period
during the period as well as those o
for future delivery. They also i
sales value of contract change do
increase or decrease the sales v


filled
only


orders to which they relate.
those supported by binding 1


e


survey are net
They include
and also filled
rders received
include the net
cuments which
alue of the un-
Orders include
gal documents


such as signed contracts, or letter contracts In
case of letter contracts the full amount of the sales
value is included if the parties are in substantial
agreement onthe amount; otherwise, only the funds
specifically authorized to be expended are in-
cluded. The respondent is instructed to deduct
the sales value ofparitial or complete cancellation
of existing orders.

Unfilled orders include orders as defined above
that have not yet passed through the sales account.
Generally, unfilled orders at the end of the re-
porting period are equal to unfilled orders at the
beginning of the period plus net new orders
received less net sales.
While both new orders and unfilled orders are


used in reviewing individual compa
consistency, only unfilled orders
directly in the tabulated totals. N
derived from the shipments plus
unfilled orders for each industry c
procedure is followed for season IIl
as well as for the unadjusted data.
unfilled orders are seasonally adju


ny reports for
are estimated
ew orders are
net change in
category. This
y adjusted data
Shipments and
sted independ-


ently. Seasonally adjusted neworders are derived
from seasonally adjusted shipments and sea-
sonally adjusted unfilled orders.


- lW