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:
February 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:
AA00008477:00076

Related Items

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

Full Text


CURRENT INDUSTRIAL REPORTS


Manufacturers' Shipments,

Inventories, and Orders


Febru


FOR RELEASE:. April 1, 1974


10 A.M.


SERIES:


M3-1 (74)-2


SUMMARY
New orders for manufactured products in Feb-
ruary increased $1.19 billion or 1.5 percent to
$80.27 billion from $79.08 billion in January after
seasonal adjustment. Shipments increased $725
million or 0.9 percent to $77.91 billion from $77.19
billion in January. Unfilled orders increased $2.36
billion or 2.0 percent to $120.04 billionat the end of
February. Manufacturers' inventories increased
$2.27 billion or 1.8 percent to $124.84 billion at
the end of February. The inventories to shipments
ratio increased from 1.59 to 1.60.
For the 3 months ending in February, the average
month to month change in new orders increased 0.4
percent compared with a 1.5 percent increase for
the 3 months ending in November and a 0.7 percent
increase for the 3 months ending in August.
NEW ORDERS
New orders for durable goods increased $960
million or 2.3 percent to $43.41 billion in February.
The February increase in new orders was attribut-
able primarily to increases in primary metals in-
dustries ($620 million), nonelectrical machinery
($410 million) and fabricated metal products ($340
million). These increases were partially offset by
a decrease in the transportation equipment indus-
tries ($420). Among the supplementary series, the
capital goods industries increased $445 million with
the nondefense sector increasing $720 million and
the defense sector decreasing $275 million.

SHIPMENTS
Shipments of durable goods increased $235 mil-
lion or 0.6 percent to $41.03 billion in February,.
The February increase in shipments was led by the
aerospace industries ($185 million), electrical ma-
chinery ($115 million) and primary metals ($105
million). These increases, as well as smaller in-
creases in other industries, were partially offset by
a decline in the motor vehicles and parts industry
($360 million). Shipments of nondurable goods in-
creased $485millionor 1.3percent to $36.88 billion.,


^ UNFILLED RDERS
'jlilled orders oft rble goods increased $2.39
billion or .1 per $115.00billionatthe end of
Februf'1CV 9bYwdry increase was led by non-
electricdP-anaokhnbry ($800 million), fabricated
metal products ($685 million) and electrical ma-
chinery ($625 million), partially offset by decline
in primary metals ($290 million).


INVENTORIES

Inventories of durable goods increased $1.26
billion and nondurable goods increased $1.00 billion
between the end of February and January. At the
all manufacturing level, materials and supplies in-
creased $1.18 billion, work in process inventories
increased $780 million and finished goods increased
$305 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 re-
port 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 March is scheduled for re-
lease on April 19, 1974 and the full report is
scheduled for release on April 30, 1974.

This report contains data on an unadjusted and
seasonally adjusted basis. However, the data are
not adjusted for price changes. For an explanation
of terms used in this report see appendix following
table 5.

Inquiries concerning these figures should be
addressed to the U.S. Department of Commerce,
Social and Economic Statistics Administration,








, AND ORDERS, BY INDUSTRY GE0UP


(Millions


of dollars)


Industry


group


All manufacturing
tries:


Total..
Total,


e~ccluding


indus-


trans-


portation......


Durable g

Stone,

Primary


oods industries,


clay, and glass products.,


metals,


Blast furnaces


Nonferrous


total......it.
, steel mil4s.


metals......


All other primary


Fabricated


metals


metal products


total................S.......


Metal


cans, barrels,


drums...., 4,*.... *.... ...


Machinery,


except


electrical,


Engines


Farm machinery and equipment,.


Construction,


mining,


material handlingequipment.


Metalworking


General ind
Electrical ma
Electrical
distribute
industrial
Household a


machinery......


lustrial
chinery,


machinery
total...


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


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


Communication


equipment.....


Transportation equipment,


Motor vehicles


Aircraft,


total


and parts....


missiles,


parts......................
Shipbuilding and railroad
equipment..-o....o....a...

Instruments and related
products, total....,.........
Scientific and engineering..


All other instruments
related products....

All other durable good
industries............


Nondurable


* 4 U S S

S
4*iS~SS


goods industries


total...... .. .... .... o........

Food and kindred products,
total...o....*......i... ..**
Meat products............***
Fats and oils......s...,...

Tobacco products..............
Textile mill products........


Paper and allied


Pulp,


paper


Paperboard


products,


, etc..... ...- ..
containers....-.


All other paper


Chemicals


Industrial


containers..


products


, except


and allied


cheincials


pigments..................


Drugs,

Petroleum
Rubber an


soap,


and toiletries.


and coal products...


d plastics


All other nondurable


products,


goods


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


Shipments


Total inventories


Without seasonal Without seasonal
Seasonally adjusted adjustmenta Seasonally adjusted adjustmentW
adjustment1 adjustment'


2,998

399


1,272
618

654


4,317


36.882


6.316


2.125


IO

. 514


6,649
530
683

1,217
408
600
5,529


1,090
714
520
1.186


6,687


920,
1


,2.58
,2826
S4961


6.454


71,925

62,999


5.685


2,644

413


1,138
615

523


3,948


31,349


10,380
2,501
763

478
2.451


124,835

106,347

81,805

2,836


122,570

104,231

80,541

2.865


120,870

102,637

79,441

2.813


1,454


7,512


41.429


7.268


125,414

106,796

82,062

2,904

9,586
4,696
3,585
1,305


9,075

918


2,057


122,837

104,365

80,460

2,865


1,531


7,694


42,377


7.309


109,737

93,198

71,453

2,505


I


7.110











OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


11 manufacturing
tries:


Total.
Total,


excluding


indus-


trans-


portation.


Durable g

Primary


goods industries,


metals,


Blast furnaces


Nonferrous

Fabricated m

Machinery, e


Engines


total.


total....**....

- steel mills.


metals..........

'etal products.....


electrical,


and turbines........


Construction,


mining,


material handling equipment.


Metalworking


machinery. .,...


General industrial machinery.


Electrical ma

Electrical
distribute
industrial
Household a


ichinery,


total...


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


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


Communication

Transportation


equipment.....

equipment,


total............ 4..........*


Aircraft,


missiles,


parts ,. .... .. ....*** ...* .


Shipbuilding


and railroad


equipment....*.............


All other durable


goods


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


Nondurable


goods


industries


total.................U...*..**

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


Industries


without


unfilled


orders..................... ..s


New orders


Unfilled


orders


n a Without seasonal Without seasonal
Seasonally adjusted d Seasonally adjusted ad.us.mnt
Sadj ustment adjustment


5,485


7,497

685

1,397
506
643

6,273



1,268
744
522
1,292


9,863


3,363

658


7,715


36,858


8,981

27,877


5,144


7,087

597

1,402
414
665

6,269



1,310
726
554
1,425


10,283


3,180

808


7,714


36,624


9,033

27.591


5,237


7,308

742

1,543
497
628

5,399



1,241
712
381
1,036


9,218


2,307

545


7,787


35,265


8,601

26.664


3,763
2,943

5,373


7,833

653

1,521
517
706

6,224



1,345
732
514
1,194


10,507


3,381

732


7,620


37,316


9,147

28,169


4,752


6,925

591

1,407
375
626

5,654



1,122
610
486
1,302


10,016


3,003

811


6,988


34,382


8,479

25.903


4.526


514

1,270
407
556

5,507



1,127
646
606
1,084


11,012


2,755

440


7,202


31,579


8,143

23,436


87,183

115,002

13.742


16,169


23,239

6,043

4,812
2,165
2,353

21,086



6,031
115
598
6,520


32,853


20,223

8,047


7,913


5,034


5.034


117,677

85,398

112,616

14,033

8,701
3,106

15,486


22,438

5.847


115,785

84,339

110,953

14,844

9,884
2,787

15,122


22,002

5.781


121,993

88,982

116,935

15,484


20,969



6,024
117
564
6,546


33,011


20,258

8,039


7,959


5,058


5,058


118,369

85,952

113,411

14,743

9,345
3,152

15,457


22,571

5.889


20,434



5,787
108
615
6,547


32,417


19,934

7,730


7,789


4,958


4.958


- Represents
*'Adjusted fo


~Preliuinary.


Revised.


and calendar-month variations.


xcept












Table 2.--VALUE


OF MANUFACTURERS '


SHY ~AENTS,


INVENTORIES,


(Millions


AND ORDERS,
of dollars)


FOR MARKET


CAflflORIES


AND SUPPLIENTrARY


SERIES


Without seasonal Without seasonal
Seasonally adjusted Wihuse e Seasonally adjusted adjustment
adjustment' adjustment
Industry group
Feb. Jan. Dec. Feb. Jan. Feb. Feb. Jan. Dec. Feb. Jan. Feb.
1974 1974r 1973 1974p 1974r 1973 1974p 1974r 1973 1974 1974r 1973


All manufacturing


Durable


Nondurable

Industry g


categories:
Home goods
Consumer s
Equipment


industries


industries

, total...


goods industries,


arranged


and apparel
taples.. ...
and defense


market


products,


except


automotive......,,..


Automotive equ
Construction m
intermediate
Other material
intermediate

Supplementary se
Household dura
Capital goods


Nondefense.


lipment..
materials,


supplies,


products.....
s and supplies
products......


a.* 3 ..3..*.
and


ries:2


industries.


industries........... ....,
..............,,.*~3. 3 .. .


All manufacturing


Durable go
Nondurable

Industry g


categories:
Home goods
Consumer s
Equipment


ods industries
goods industry


arranged


and apparel
taples......
and defense


industries,

Stotal....
ies, total.


total..,

* ** *3 l
..... ..


market


products,


except


automotive. *33 *33~+SS* ~3333333*


Automotive equi
Construction ma
intermediate p
Other materials
intermediate p

Supplementary ser
Household durab
Capital goods i


trials,


supplies,


.......
and


roducts......... .........
and supplies and
roducts..................


j~s ~2


industries......,


ndustries......


Nondefense.,,.........,.....
Defense ..,........ .,... ....


During
gate figure
included in
variations;
categories


1968 manufacturers


on shipments,


the defense


unfilled


orders


in ordnance,


orders,


series.


Shipments


77,911

41,029
36,882



7,079
15,213

11,108
6,460

6,364

31,687


3,192
12,866


79,032

41,818
37,214



7,158
15,129

11,391
6,982

5,951

32,421


3,176
13,218
11,594
1,624


New orders


80,269

43,411
36,858



6,983


communications,


and total inventories
PPreliminary. R


and inventories


aircraft


and aircraft


of work performed


evised.


as of end of month,


parts,


Total inventories


122,570

80,541
42,029



13,405
16,131

31,572
7,399

10,287

43,776


6,352
35,553
29,874
5,679


12.080


Unfilled


117.677


122,837

80,460
42,377



13,212
16,488

31,547
7,564

10,242

43,784


109,737

71,453
38,284



12,145
14,689

27,901
6,320

9,030

39.652


orders


785 21


2,799


59,162


14,850

45,182


2,171
66,205
43,548
22,657


industries beg
. The results
or trading-day


of the se


an to


118,369

113,411
4,958




2,835


58,186


14,364

42,984


2,191
64,471
42,279
22,192

provide


90.788


1.946


aggre-


of these reports are
and calendar-month
parate industry


335 24,835


81,805
43,030



13,552
16,471

32,161
7,336

10,361

44,954


6,517
36,189
30,362
5,827


0461120,036


46711


2.842


14,984

43,361


2,200
65,984
43,539
22,445


and shipbuilding


for the Department


'Shipments


new orders


supplementary


series


of Defense
adjusted f


are regroupings


as follows:


Household


appliance
Capital goc
Products
Nondefense
excludingn
equipment


Defense


durable


goods


ophthalmic
industries


(old series)
products M
g household


industries
goods, wa


- Household


tches,


- The capital


furniture;


and clocks;


goods


industries


kitchen


articles


and miscellaneous


series


categories.


machinery,
appliances


communication


products


communications,


Shipments


equipment,


- Based on separate


aircraft


and aircra


of Defense-Oriented


except


electrical


and electronic


aircra
reports
ft part


Industries,


ft
o


(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


s, and shipbuilding.
for the specified in


The data
dustries.


defense


contractors


are comparable


in the following


industries:


to those published annually in


ordnance,


the MA-175,


goods


total.


* 3 < 3
*. .. .. .3


roups


total


ble


goods


roups


goods


.


le













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 Jan.- 1973- Nov.- Average Average
1917----------- Average Average
Feb. Jan. Dec- Nov. 1973- Aug.- May- Feb. 1973- rise decline
1974 1974 1973 Feb. 1974 Nov. 1973 Aug. 1973 Feb. 1974


Shipments:
All manufacturing industries......... +0.9 +2.4 -2.2 .0.4 +1.8 +0.8 +1.0 +1.3 -1.1

Durable goods industries, total........ 10.6 +1.5 -4.0 -0.6 +1.9 +0.3 +0.6 +1.9 -1.,
Nondurable goods industries, total.,... +1.3 +3.5 +0.1 +1.6 +1.7 +1.4 +1.4 +1.1 -0.!

Total inventories:
All manufacturing industries........ +1.8 +1.4 +2,1 +1.8 +1.0 +1.0 +1.1 +0.6 -0.

New orders:
All manufacturing industries......... +1.5 +3.0 -3.3 +0.4 +1.5 +0.7 +1.1 +1.7 -1.
Durable goods industries, total........ +2.3 +2.2 -6.2 -0.6 +1.3 +0.2 +0.8 +2.5 -2.1
Nondurable goods industries, total ..... +0.6 +3.9 +0.4 +1.6 +1.7 +1.4 +1.4 +1.1 -0.
Unfilled orders:
Durable goods industries, total ........ +2.1 +1.5 +1.2 +1.6 +2.2 +3.0 +2.6 +1,4 -1.











Table 4.--VALUE OF MANUFACTURERS' INVENTORIES, BY STAGE OF FABRICATION, BY INDUSTRY GROUP
(Millions of dollars)
Without seasonal Without seasonal
Seasonally adjusted uten Seasonally adjusted uten
adjustment adjustment
Industry group
Feb. Jan. Dec. Feb. Jan. Feb. Feb. Jan. Dec. Feb. Jan. Feb.
1974p 1974r 1973 1974 1974r 1973 1974p 1974r 1973 1974 1974r 1973

Total Materials and supplies

All manufacturing industries, total.. 124,835 122,570 120,870 125,414 122.837 109,737 42,572 41,389 40,407 42,538 41,611 34,723
Durable goods industries, total............ 81,805 80,541 79,441 82,062 80,460 71,453 25,605 24,923 24,423 25,339 24,877 20,249
Stone, clay, and glass products.......... 2,836 2,865 2,813 2,904 2,865 2,505 1,036 1,033 1,003 1,039 1,029 814
Primary metals........................... 9,485 9,467 9,356 9,586 9,617 9,591 3,711 3,665 3,586 3,658 3,733 3,251
Machinery (electrical and nonelectrical). 30,462 29,770 29,262 30,471 29,578 25,402 8,852 8,523 8,359 8,813 8,479 6,704
Transportation equipment...........,.... 18,488 18,339 18,233 18,618 18,472 16,539 3,896 3,886 3,888 3,888 3.914 3,050
All other durable goods industries....... 20,534 20,100 19,777 20,483 19,928 17,416 8,110 7.816 7,587 7,941 7,722 6,430
Nondurable goods industries, total,........ 43,030 42,029 41,429 43,352 42,377 38,284 16,967 16,466 15,984 17,199 16,734 14,474
Chemicals and allied products........... 7,625 7,263 7,268 7,736 7,309 7,110 3,020 2,847 2.772 3,025 2,864 2,486
Petroletum and coal products.............. 2,874 2,731 2,626 2,824 2,744 2,241 659 591 552 658 601 495
Rubber and plastics products, n.e.c...... 2,747 2,702 2,627 2,789 2,714 2,431 1,030 1,009 986 1,018 997 685
All other nondurable goods industries.... 29,784 29,333 28,908 30,003 29,610 26,502 12,258 12,019 11,674 12,498 12,272 10,808

Work in process Finished goods

All manufacturing industries, total.. 43,622 42,843 42,649 43,820 42,866 38,813 38,641 38,338 37,814 39,056 38,360 36,201
Durable goods industries, total............ 36,735 36,285 36,078 36,932 36,307 32,795 19,465 19,333 18,940 19,791 19,276 18,409
Stone, clay, and glass products......... 394 389 403 403 390 348 1,406 1,443 1,407 1,462 1,446 1,343
Primary metals........................... 3,487 3,478 3,450 3,563 3,545 3,560 2,287 2,324 2,320 2,365 2,339 2,780
Machinery (electrical and nonelectrical). 13,822 13,621 13,407 13,856 13,576 11,540 7,788 7,626 7,496 7,802 7,523 7,158
Transportation equipment...........,...... 12,979 12,818 12,761 13,047 12,886 12,089 1,613 1,635 1,584 1.683 1,672 1,400
All other durable goods industries....... 6,053 5,979 6,057 6,063 5,910 5,258 6,371 6,305 6,133 6,479 6,296 5,728
Nondurable goods industries, total......... 6,887 6,558 6,571 6,888 6,559 6,018 19,176 19,005 18,874 19,265 19,084 17,792
Chemicals and' allied products............. 1,261 1,118 1,095 1,275 1,112 1,071 3,344 3,298 3,401 3,436 3,333 3,553
Petroleum and coal products............. 734 696 653 718 686 486 1,481 1,444 1,421 1,448 1,457 1,260
Rubber and plastics products, n.e.c...... 440 433 417 441 435 400 1,277 1,260 1,224 1,330 1,282 1,346
All other nondurable goods industries.... 4,452 4,311 4,406 4,454 4,326 4,061 13,074 13,003 12,828 13,051 13,012 11,633


PPrel iminary.


data)











AND UNFILLED ORDERS TO SHIPMENTS


(Based


on seasonally


adjusted


Unfilled orders shipments ratiot
Inventories shipments ratio months backlog)
(months backlog)
Industry group
Feb Jan. Dec. Feb. Feb. Jan. Dec. Feb.
1974' 1974r 1973 1973 1974' 1974r 1973 1973

All manufacturing industries, total........,.......... 1.60 1.59 1,60 1.58 2.62 2.61 2.62 2,18
Durable goods industries, total............................ 1*99 1.97 1.98 1.87 3.12 3.10 3.10 2.58
Stone, clay, and glass products.......................... 1.33 1.35 1,37 1.20 (NA) (NA) (NA) (NA)
Primary metals......... ........ .......................... 1.38 1.40 1.40 1.68 2.00 2.07 2.22 1.52
Fabricated metals........................................ 1.91 1.89 1,90 1.81 3.79 3.63 3.58 2.86
Machinery, except electrical.....................,....... 2.59 2.56 2.52 2.60 3.47 3.37 3.32 2.81
Electrical machinery..................................... 2.32 2.31 2.33 2.09 3.74 3.70 3.66 3.18
Transportation equipment................................ 1.99 1.94 1.99 1.63 5.53 5.60 5.78 4.71
Instruments and related products......................... 2.81 2.70 2.67 2.25 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.17 1.15 1.18 1.22 0.56 0.57 0.57 0.54
Food and kindred products................................ 0.83 0.83 0,88 0.93 (x) (X) (X) (X)
Tobacco products............................ ............ 4.89 4.41 4.46 4.66 (X) (X) (X) (X)
Textile mill products.....,.............................. 1.66 1.69 1.74 1.66 (NA) (NA) (NA) (NA)
Paper and allied products................................ 1.10 1.11 1.13 1.14 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1,21 1.19 1.18 1.28 (X) (X) (X) (X)
Petroleum and coal products................................ 0.72 0.73 0.72 0.85 (X) (X) (X) (X)
Rubber and plastics products, n.e.c....................... 1.50 1.48 1.50 1.42 (X) (X) (X) (X)


Not available.


'Excludes the
vehicle assembly


PPrelimina


rnevis~i.


following industries with no unfilled


(X)
order:


Not applicable.


Wooden


containers;


operations; foods and related products; tobacco; apparel and


glass containers;


metal


barrels


and drums;


related products; chemicals; petroleum and coal products;


rubber and plastics products, n.e.c,


data)


motor










Appendix


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

DESCRIPTION OF THE SURVEY

The Manufacturers' Shipments, Inventories,
and Orders survey provides monthly figures that
are comparable to the annual totals published each
year in the annual survey of manufactures (ASM).
The ASM is based on a sample of approximately
60,000 manufacturing establishments drawn from
the 5-year census universe of about 310,000 estab-
lishments. In the ASM, each manufacturing
establishment provides data on employment, pay-
rolls, shipments, cost of materials, capital ex-
penditures, and inventories as well as other
selected items. The establishments do notprovide
information on unfilled orders or new orders.
Since the ASM is establishment based, it provides
data for each of the 425 manufacturing industries
in the Standard Industrial Classification System
(SIC) and area data for industry groups.

The monthly survey M3-1 does not provide
information at the complete SIC industry detail
because of the smaller size of the reportingpanel
and the fact that most companies cannot provide
shipments, inventories, and orders data monthly
for individual establishments.

The monthly reporting panel consists of ap-
proximately 5,000 reporting units and includes
virtually all companies with 1,000 or more em-
ployees and a sample of the smaller ones. The
reporting unit typically comprises the entire
operations of a company although many of the
larger diversified companies file separate divi-
sional type reports for their operations 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 workperformedby
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




UNIVERSITY OF FLORIDA

I IIll ll II IIII 1111111hIIII
3 1262 08589 4474


definition


of shipments


in the monthly reports


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


Inventories--End-of-month inventories in the
monthly survey are identical in definition to the
end-of-year inventories in the ASM. In the ASM,
respondents are asked to report inventories of
individual establishments at approximate current
cost if feasible; otherwise, "at bookvalues." 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
of cancellations during the month.
orders received during the period
during the period as wells those o


for future delivery.


sales
incre
filled
only
such
case
value


They a


value of contract chan
ase or decrease the sa
orders to which they re
those supported by bind
as signed contracts, or
of letter contracts the fu I


is included if the parties,


ilso in
ge doc
les va


survey are net
They include
and also filled
ders received
clude the net
uments which
lue of the un-


ate Orders include
ng legal documents
better contracts In
amount of the sales
s are in substantial


agreement ontheamount;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 includeorders as defined
that have not yet passed through the sales ac
Generally, unfilled orders at the end of ti
porting period are equal to unfilled orders
beginning of the period plus net new o
received less net sales.
While both new orders and unfilled orde


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 ll
as well as for the unadjusted data.


above
count.
ie re-
at the
)rders


rs are


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


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


If Jr* ~-f