Current industrial reports

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Material Information

Title:
Current industrial reports
Portion of title:
Manufacturers' shipments, inventories, and orders
Physical Description:
v. : ; 28-29 cm.
Language:
English
Creator:
United States -- Bureau of the Census. -- Manufacturers' Shipments, Inventories, and Orders Branch
United States -- Bureau of the Census
Publisher:
U.S. Dept. of Commerce, the Bureau of the Census :
For sale by the Subscriber Services Section (Publications), Bureau of the Census
Place of Publication:
Washington, D.C
Creation Date:
March 1975
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:
AA00008477:00083

Related Items

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

Full Text

Manufacturers'
Inventories,


Shipments,
and Orders


March


1975


FOR RELEASE: April 30,1975


P.M.


SERIES: M3-1(75)-3


SUMMARY


March.


This decrease was led by the primary metals


NI orders for manufactured products in March
a $2,266 million or 3.0 percent to $73,873
million after seasonal adjustment. Shipments decreased
million or 2.5 percent to $76,866 million in
*rp Jor 4|e sixth consecutive month, shipments
new orders. Unfilled orders decreased
$ 2 million or 2.4 percent to $123,948 million at
tf!^ivqpfotMarch. For the first time since August 1971,
manufacturers' inventories decreased, dropping $685
nllion or 0.5 percent to $151,308 million at the end
of March. The inventories to shipments ratio increased


from 1.93 to 1.97.

Fo the three months
W ias jinew orders wa
a .2 percent decrease for
iker /and a 0.8 per
months ending in Septemb
NEW(C


ending in March the average
s 1.1 percent compared with
Sthe three months ending in
cent increase for the three
er.


)RDERS


i drAers for durable goods decreased $1,482
million. or 4.0 percent to $35,541 million in March.
It decrease in new orders was chiefly attributable to
t ace industries ($794 million), fabricated
nm4;iuStries ($415 million), primary metals indus-
tO nillio), and electrical machinery industries
(fl million). These decreases were partially offset by
in ss i the motor vehicles and parts industries
4i lionn, and the shipbuilding and railroad
equipment industries ($291 million). Among the sup-
p in tar series, new orders in the capital goods
induisties decreased $763 million with the nondefense
sector decreasing $324 million and the defense sector
decreasing $439 million.


SHIPMENTS


industries ($694 million). Shipments in the nondurable
goods industries also decreased $911 million or 2.3
percent to $38,311 million.


UNFILLED ORDERS


Unfilled


orders for


durable


ds industries de-


creased $3,010 million o
million at the end of


orders was mainly
metals industries ($
industries ($481 n
chinery industries (


Inventories of dura 3
and nondurable goods in
lion between the end of Mar


manufacturing level, materials and supplies decreased
$503 million; work in process inventories decreased
$330 million and finished goods inventories increased
$148 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 March
is scheduled for release on May 21, 1975 and the full


report is scheduled for release on June


This report contains


1975.


data on an unadjusted and


Shipments of durable goods industries decreased
$1,098 million or 2.8 percent to $38,555 million in


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.


CURRENT


REPORTS


INDUSTRIAL


,


k












OF MANUFACTURERS


(Millions


of dollars)


Industry


group


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


Total, excluding
portatlon,....


Durable

Stone,

Primary


g


oods industries,


indus-


traiis-


total.


clay, and glass products.

y metals, total.........


Blast furna
Nonferrous


ces, steel mills.
metals...........


All other primary


Fabricated


total..........* .. -.. .......


Metal ca
drums..

Machinery,


metals....


metal products


ins, barrels,


S...*.*.**.*******e


.a.' z *.* *"B #* *^ *'
a Rite.v^....
h ryand equipment.
kn, mining, and
1 handling equipment.


rking machinery......


industrial


achinery,


E edtri cal m
:El4ct4ical
f't tibut
tndu ria
BUseh d
^a io ae
Colid cat

Transpoitt
Motor veM
Aircraft,


Shipbuilding
equipment...

Instruments and
products, tots
Scientific an


machinery
total...
E


transmission an
ion equipment an
1l apparatus.....
appliances......
TV e m............
(pn equipment...


and railroad
*S.....* *0*t.tt

Related
l........d engineering..
id engineering..


All other instruments


related


products...... *... .


All other durable


goods


industries..........


Nondurable


goods


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

Food and kindre
total.........
Meat products


industries,

d products,.
d products,


Fats and oils..


Tobacco
Textile

Paper a


products.....
mill products


nd allied


Pulp, paper,
Paperboard c
All other pa

Chemicals and


products,


ontainers...


per

alit


containers..

ed products,


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


Industrial chemcials,


except


pigments., ......... ..*..


Drugs,

tna+ mm.m


soap,


and toiletries.


Shipments


Total inventories


Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment


4,639

497


7,254
566
719

1,605
. 520
750
5:066
.
*


5.138


6,684


78,875

70,891

39,653

2,072


6.863


6,775


6,982


80,103


4,618


38,562


151,308

130,242

100,012

3,806

13,424


10.830


151,993

130,601

100,082

3,741

13,015
6,620
4,588
1,807


12,045

1.203


10.875


130,379

99,124

3,760

12,446
6,241
4,403
1,802


11,825

1,108


21,245
6,560

11,212

2,627


4,292
2,144

2,148


8,848


52.500


10.924


152,053

130,826

100,625

3,932

13.515


12,116

1.239


51,785


10.960


,,nd mon nwmiurcit..R 4.


152.692

131,164

100,403

3,829

13,157
6,719
4.625
1,813


11.915


21,528
6,563

11,360

2,741


4,187
2,095

2,092


8,825


52,289


11.040


127,125

108,294

83,515

3,049


9,376


7,752


GROUP


4.1RR


I












BY INDUSTRY GROUP--Continued


(Millions


of dollars)


Industry


group


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


lbtal,


excluding


portation.......


Duflble

Primary


goods industries

y metals, total.


Blast furnaces,


Nonferrous

Fabricated m

Machinery, e


Engixies


indus-


trans-
....a..

total.

a.--...


steel mills.


metals....


etal products.....


except


electrical,


and turbines.......


Construction,


mining,


material handling equipment.
Metalworking machinery......
General industrial machinery.


Electrical

Electrica
distribu
industry
Household


machinery,


total...


transmission and
.on equipment and
L apparatus.......
Lppliances........


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


Communication

Transportation


Aircraft,


L equipment.....

equipment,


missiles,


parts....b......a.....a..ir
Shipbuilding and railroad
equipment..... ...........


All other


durable


goods


industries......o............

Nondurable goods industries,
total. ... .. .. ..*.a.***.. *.


Industries


Industries


with unfilled


without


unfilled


orders.......................


- Represents
14djusted fo
2The shimen


months.
March,


zero. P
r trading-day


ts


The rebates


reported


are being


a


New orders


Unfilled


orders


Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment
adutdadjustment1ajsmn


reliminary. rRev
and calendar-month
v the motor vehicles


handled


in this


4,720


6,837

346

1,575
491
739

4,919



1,201
670
289
1,331


7,253


1,584

751


7,262


38,896


8,537

30.359


4,612


7,480

562

1,716
485
858

4,733



959
746
290
1,127


8,472


1,756

641


7,097


39,380


8,717

30,663


4,685


7,219

478

1,453
464
810

4,875



981
682
362
1,278


8,587


2,672

296


7,007


39, 633


8,793

30,840


123,948

90,624

120,236

12,377

6,588
2,760

18,983


27.983


126,939

93,197

123,246

13,560

7,481
2,882

19,253


129,671

95,977

125,873

15,033

8,459
3,178

19,369


29,046

7,040


126,158

92,822

122,385

14,165

8,090
2,973

19,069


28,217

6.924


128,797

94,866

125,089

15,148

8,813
3,081

19.187


28,598


122,546

91,010

117,429

15,774

9,847
3,377

16,470


24,393

6.447


variations.


and parts industry


way by


the manufacturers


are net of cash rebates


even though


on some automobiles


they applied


primarily


sold by dealers


to vehicles


shipped


in prior
prior to


__ -.











OF MANUFACTURERS'


TNVFNTORIES,


(Millions


AND ORDERS,
of dollars)


FOR MARKET


CATaORIES


AND SUPPLEMENTARY


SERIES


Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
adjustment Jad jus tment
Industry group
Mar. Feb. Jan. Mar. Feb. Mar. Mar. Feb. Jan. Mar. Feb. Mar.
1975p 1975 1975 1975p 1975r 1974 1975p 1975r 1975 1975p 1975r 1974

Shipments Total inventories


All manufacturing industries, total.. 76,866 78,875 79,124 80,025 80,103 81,391 151,308 151,993 151,624 152,053 152,692 127,125

Durable goods industries, total............ 38,555 39,653 40,137 40,712 40,467 42,829 100,012 100,082 99,124 100,625 100,403 83,515
Nondurable goods industries, total..--....... 38,311 39,222 38,987 39,313 39,636 38,562 51,296 51,911 52,500 51,428 52,289 43,610

Industry groups arranged by market
categories:
Home goods and apparel................... 6,596 6,546 6,481 6,925 6,649 7,778 13,551 14,085 14,558 13,494 14,005 13,636
Consumer staples......................... 16,272 16,400 16,283 16,502 16,323 15,412 19,457 19,657 19,666 19,434 19,927 16,720
Equipment and defense products, except
automotive................................... 10,966 11,363 11,086 11,645 11,671 10,951 39,216 39,093 38,634 39,487 39,259 32,945
Automotive equipment..................... 6,130 5,801 5,907 6,806 6,291 7,021 7,920 8,178 8,338 8,101 8,391 7,550
Construction materials, supplies, and
intermediate products................... 5,538 5,769 5,898 5,501 5,393 6,292 13,075 12,990 13,019 13,309 13,096 10,857
Other materials and supplies and
intermediate products................... 31,364 32,996 33,469 32,646 33,776 33,937 58,089 57,990 57,409 58,228 58,014 45,417

Supplementary series:2
Household durable goods industries...... 2,933 2,898 2,914 3,063 2,895 3,461 7,060 7,318 7,473 7,011 7,269 6,631
Capital goods industries................. 12,430 12,729 12,434 13,092 13,085 12,638 43,690 43,816 43,282 43,872 43,847 36,915
Nondefense. ............................. 10,733 10,976 10,790 11,405 11,392 11,034 36,856 37,102 36,779 37,031 37,153 30,948
Defense ............................... 1,697 1,753 1,644 1,687 1,693 1,604 6,834 6,714 6,503 6,841 6,694 5,967

New orders Unfilled orders


All manufacturing industries, total.. 73,873 76,139 74,958 77,388 78,444 83,377 123,948 126,939 129,671 126,158 128,797 122,546

Durable goods industries, total............ 35,541 37,023 36,062 38,008 38,811 44,736 120,236 123,246 125,873 122,385 125,089 117,429
Nondurable goods industries, total......--... 38,332 39,116 38,896 39,380 39,633 38,641 3,712 3,693 3,798 3,773 3,708 5,117

Industry groups arranged by market
categories:
Home goods and apparel................... 6,498 6,501 6,345 6,836 6,644 7,824
Consumer staples......................**... 16,259 16,389 16,301 16,482 16,319 15,402 2,034 2143 2,197 2'00 2,107 242
Equipment and defense products, except
automotive.............................. 10,250 10,504 10,650 10,872 10,785 11,650
Automotive equipment..................... 6,026 5,683 5,511 6,674 6,179 7,05963357 6416 65153 63618 64,527 58,681
Construction materials, supplies, and
intermediate products................... 5,310 5,561 5,795 5,501 5,201 6,743 17,234 17,461 17,670 17,299 17,298 15,235
Other materials and supplies and
intermediate products................... 29,530 31,501 30,356 31,023 33,316 34,699 41,323 43,159 44,651 43,241 44,865 45,788

Supplementary series:2
Household durable goods industries....... 2,836 2,842 2,781 2,963 2,884 3,477 1,486 1,580 1,636 1,455 1,552 2,192
Capital goods industries................. 11,354 12,117 11,712 11,930 12,489 13,403 72,524 73,598 74,208 72,717 73,881 65,648
Nondefense............................. 9,646 9,970 10,077 10,355 10,511 12,147 47,513 48,600 49,605 47,698 48,751 43,956
Defense ............................... 1,708 2,147 1,635 1,575 1,978 1,256 25,011 24,998 24,603 25,019 25,130 21,692


.During 1968
gate figures on
included in the


variations;
categories


manufacturers


shipments,


defense


unfilled


orders


in ordnance,


orders,


series.


communications,


and total inventories
PPreliminary. rR


and inventories


as of end of


aircraft and


aircraft


of work performed for


revised .
month.


'Shipments


parts, and shipbuilding


the Department
and new orders


The supplementary


series


indu


of Defense. Th
adjusted for tr
are regroupings


stories be
e results
ading-dny


gan to


provide


of these


aggre-


reports are


and calendar-month


of the separate


industry


as follows:


Household


durable


goods


industries


- Household


furniture:


kitchen


articles


and pottery;


cutlery,


handtools.


and hardware;


household


appliances;:


Capital


goods


Products (I
Nondefense p
excluding
equipment,


ophthalmic
industries
d series>


goods,


watches,


- The capital go
categories.


products Machinery, except


household


appliances


communication


equipment,


and clocks; an
ods industries


electrical


d miscellaneous


personal


series is comparable


excluding


and electronic components),


aircraft and aircraft


farm machinery


and the


parts,


goods.


to the previous


and equipment


nondefense


portions


Producers'


Capital


and machine shops),
of shipbuilding and


Goods and the Defense


electrical
repairing


machinery
and railroad


and ordnance.


Defense


products


communications,


- Based on separate


aircraft


and aircraft


reports


parts,


on defense work filed by


and shipbuilding.


large defense


The data


contractors


are comparable to those


in the following industries:


published


annually in the


ordnance,
MA-175,


Shipments of Defense-Oriented Industries,












Table 3.--MANUFACTUJRERS


(Based


on seasonally


adjusted


Month-to-month Average monthly rates of change Average, 1969-74

3 months 12 months
Item and industry group Feb.- Jan.- 1974
eDec. 1974- Average Average
Mar. Feb.
1975 1975 Jan. 1975 Dec. 1974- Sept.- June- Mar. 1974- rise decline
Mar. 1975 Dec. 1974 Sept. 1974 Mar. 1975


Shipments:
All manufacturing


Durable
Nondurab


industries...


goods industries, to
le goods industries,


Total inventories:
All manufacturing
New orders:
All manufacturing


Durable go
Nondurable


Unfilled
Durable


tal....
total.


industries.....


industries.....


ods industries,


goods


orders:
goods


industries


industries


total....
s, total.


total.


-0.5


-2.4


-3.1


-1.1


+0.2


-2.5


-1.4


+1.9


+2.5


-0.1


+0.4


+1.7


-11


Table 4.--VALUE


OF MANUFACTURERS'


INVDfrORHS


, BY STAGE OF FABRICATION,


BY INDUSTRY


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted dseSeasonally adjusted
adjustment adjustment
Industry group
Mar. Feb. Jan. Mar. Feb. Mar. Mar. Feb. Jan. Mar. Feb. Mar.
1975p 1975r 1975 1975p 1975r 1974 1975p 1975r 1975 1975p 1975r 1974


All manufacturing


Durable gooc
Stone, cl1
Primary m
Machinery


industries


industries
- total...


and glass product


etals........
(electrical


Transportation eq
All other durable


Nondurable
Chemicals
Petroleum
Rubber an


total.


. .


s..........


and nonelectrical).


uipment.................


goods industries


and allied


industries.......
s- total.........


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


and coal products..............


d plastics


All other nondurable



All manufacturing


Durable gooi
Stone, cl1
Primary m
Machinery


industries


product
goods


s, n.e.c......
industries....


industries,
- total.....


total..
. ... .


and glass products...


etals........
(electrical


and nonelectrical).


Transportation equipment.................
All other durable goods industries.......


Nondurable
Chemicals
Petroleum
Rubber an


industries,


and allied


total........ .


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


and coal products..............


d plastics


All other nondurable


products,
goods in


dustries....


Total


151,308
100,012
3,806
13,424
36,780
21,066
24,936
51,296
10,830


33,014


L51,993
100.082


151,624
99,124
3,760
12,446
36,708
21,245
24,965
52,500
10,924


3,932


33,040


152,692
100,403


127,125
83,515


30,118


Materials


54,494
34,313
1,465
6,215
11,528'
4,761!
10,344

20,181
4,423


13,525


54,818
34,103
1,499
5,862
11,505
4,838
10,399
20,715

4,541
989
1,226
13,959


and supplies


4,793


13,712


54,914
34,229
1,477
6,126
11,527
4,907
10,192
20,685
4,534
1,105
1,142
13,904


Work in process Finished goods


7,662


44,343
37,616
429
3,512
14,199
13,190
6,286
6,727'
1, 248i
776;
428!
4,275


23,811


47,602
23,567


48,249
24,307
1,841
3,141
9,628
1,960
7,737
23,942
4,809
1,982
1,588
15,563


39,499
19,882


PPreliminary.


data)


GROUP


goods


p


goods










INVENTORIES TO SHIPMENTS AND UNFILLED ORDERS TO SHIPMENTS, BY INDUSTRY GROUP


(Based


on seasonally


adjusted


n rsp rai -Unfilled orders shipments ratiot
Inventories shipments ratio
(months backlog)
Industry group
Mar. Feb. Jan. Mar. Mar. Feb. Jan. Mar.
1975p 1975r 1975 1974 1975p 1975r 1975 1974

All manufacturing industries, total.................. 1.97 1.93 1.92 1.62 2.89 2.85 2.91 2.64
Durable goods industries, total............................ 2.59 2.52 2.47' 2.04 3.49 3.44 3.50 3.15
Stone, clay, and glass products.......................... 1.89 1.81 1.75 1.37 (NA) (NA) (NA) (NA)
Primary metals........................................... 2.18 1.90 1.72 1.35 2.01 1.98 2.08 1.93
Fabricated metals........................................ 2.61 2.46 2.34 1.94 4.58 4.44 4.37 3.84
Machinery, except electrical............................. 3.09 2.99 2.97 2.54 3.86 3.84 3.93 3.47
Electrical machinery.................................... .. 3.00 2.84 2.89 2.33 3.88 3.87 3.98 3.76
Transportation equipment................................. 2.54 2.68 2.68 2.28 6.73 6.84 7.17 6.43
Instruments and related products......................... 3.05 3.18 3.18 2.76 (RA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.35 1.32 1.35 1.16 0.44 0.42 0.44 0.57
Food and kindred products............................... 0.87 0.87 0.89 0.87 (X) (X) (X) (X)
Tobacco products............................... ............ 5.63 5.02 5.09 4.76 (X) (X) (X) (X)
Textile mill products.................................... 1.85 1.97 2.09 1.72 (NA) (MA) (NA) (NA)
Paper and allied products............................... 1.63 1.51 1.52 1.13 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.62 1.58 1.61 1.19 (X) (X) (x) (X)
Petroleum and coal products.............................. 0.88 0.87 0.84 0.68 (X) (X) (X) (X)
Rubber and plastics products, n.e.c...................... 1.73 1.70 1.69 1.50 (X) (X) (X) (X)


(NA) Not available.


PPreliminary.


tExcludes the following industries with


tRevised. (X
no unfilled order:


Not applicable.
Wooden containers;


glass containers; metal cans


barrels


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)


and


drums


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 employ-
ed.


DESCRIPTION OF SURVEY

The Manufacturers' Shipments, Inventories, and
(kldrs survey provides monthly figures that are com-
rarable to the annual totals published each year in the
Aiual Survey of Manufactures (ASM). The ASM is
aed on a sample of approximately 60,000 manu-
ittring establishments drawn from the 5-year census
uitterse of about 310,000 establishments. In the ASM,
each manufacturing establishment provides data on
Employment, payrolls, shipments, cost of materials,
capital expenditures, 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
I industry groups.

The monthly survey M3-1 does not provide infor-
mation 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.

l The monthly reporting panel consists of approxi-
mately 5,000 reporting units and includes virtually all
companies with 1,000 or more employees 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
divisional 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
4km I*rv A CNN oo'+4^mn+aof Ivi ni*- A t n Crf 1. 1 a n4tlra ait / wmn-4-ntnA *


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 establishments 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
shipments 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 manufacturing and
industry group levels since the products of some
industries are used as materials by other industries
within the industry group. With the exception of
motor vehicles, it is not significant at the 4-digit SIC
group level. Since the M3-1 industry 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 establishments,
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 definition of shipments in the monthly
reports differs from that used in the annual establish-
ment reports, it is assumed that the month-to-month
changes in company sales in the industry are represen-
tative of the month-to-month shipments of the estab-
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UNIVERSITY OF FLORIDA
I11111I II IIIIIItl llH lIIIIIN IIII1
3 1262 08589 4011
8


feasible; otherwise, "at book values." Since different
methods of inventory valuation are used (LIFO, FIFO,
etc.), the definition of the aggregate inventories for
establishments in an industry is not precise. The figures
on the change in inventories from one period to the
next are of greater significance than the actual aggre-
gates.


Inventories are reported by stage of fabrication: (a)
finished goods; (b) work in process; and (c) materials,
supplies, fuel, and other inventories. In using in-
ventories by stage of fabrication at the all manu-
facturing and 2-digit industry levels as well as for the
durable and nondurable 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 sta-
tistics.


New Orders Received and Unfilled Orders-Orders
as reported in the monthly survey are net of cancella-
tions during the month. They include orders received
during the period and also filled during the period as
well as those orders received for future delivery. They


also include the net sales value of contract change
documents which increase or decrease the sales value of
the unfilled orders to which they relate. Orders include
only those supported by binding legal documents such
as signed contracts, or letter, contracts. In case ofletter
contracts the full amount of the sales value is included
if the parties are in substantial agreement on the
amount; otherwise, only the funds specifically author-
ized to be expended are included. 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 reporting
period are equal to unfilled orders at the beginning of
the period plus net new orders received less net sales.

While both new orders and unfilled orders are used
in reviewing individual company reports for consis-
tency, 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 data as well as for the unadjusted
data. Shipments and unfilled orders are seasonally
adjusted independently. Seasonally adjusted new
orders are derived from seasonally adjusted shipments
and seasonally adjusted unfilled orders.


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