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:
November 1972
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:
AA00008477:00084

Related Items

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

Full Text

A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION


LURII


a
0
I S


ufacturers'
lventories,


Shipments,
and Orders


1972


t*.. .*


COMMERCE Social and Economic Statistics Administration BUREAU OF THE CENSUS


FOR RELEASE:


January 3, 1973


SERIES:


M3-1 (72)-11


UNFILLED ORDERS


SUMMARY


New orders for manufactured products in
Nvember increased $2.57 billion or 3.9 percent
t&6.03 billion from $65.45 billion min October,
after seasonal adjustment. Shipments in November
i j|eased $2.02 billion or 3.1 percent to $66.74
btltrn Unfilled orders increased $1.29 billion
o j .6 percent to $84.20 billion at the end of
NIemraber. Manufacturers' inventories increased
s$ aflhion or 0.5 percent to $106.52 billion at
e nd of November. The inventories to ship-
eits ratio decreased from 1.64 to 1.60.
SiPor the 3 months ending in November, the
average month-to-month change in new orders
was a 1.8 percent increase compared with a 1.3
jeccunt increase for the 3 months ending in
August and a 1.2 percent increase for the 3 months
eSing in May.
e. dn :m


NEW ORDERS

|gw orders for durable goods increased $1.14
bilon or 3.1 percent to $37.90 billion. In-
remases in new orders were reported for non-
electrical machinery ($385 million); primary


Unfilled orders for durable goods increased
$1.07 billion or 1.3 percent to $80.24 billion at


machinery ($540 million), electrical machinery
($245 million), and primary metals ($185million).

INVENTORIES


nonelectrical


Inventories of durable goods and nondurable
goods manufacturers increased $440 million and
$75 million respectively in November. At the
all manufacturing level, materials and supplies
increased $305 million, goods in process in-
creased $125 million, and $85 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 advance
report is based on a tabulation of early reports
and is limited to statistics on shipments, new


orders,


and unfilled


- industry categories.


orders


for a few broad


The present report is based


on more complete reporting, but the estimates


are also considered preliminary.


Final figures


of November,


led by


metals ($275
($195 million
million).


million
); and


n); stone, clay and glass
electrical machinery ($145


will appear as historical data in the report to be
published for next month. The advance report
on durable goods for December is scheduled for
release on January 22, 1973 and the full report
is scheduled for release on January 31, 1973.


For an explanation of terms used in this
it see appendix following table 5.


Shipments of durable goods increased $750
million or 2.1 percent to $36.84 billion in
Nqember. Shipments of nondurable goods in-
creased $1.26 billion or 4.4 percent to $29.90
billion, led by the foods industry ($525 million).


re-


Inquiries concerning these figures should be
addressed to the U.S. Department of Commerce,
Social and Economic Statistics Administration,
Bureau of the Census, Industry Division,
Washington, D.C. 20233.


CURRENT


November


SHIPMENTS


REPORTS


INDUSTRIAL










OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


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


indus-


g


portation......


Durable

Stone,

Primar


r


oods industries,


trans-

total.
total.


clay, and glass products.

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


Blast furnaces, s
Nonferrous metals
All other primary


teel mills.
.metals......
metals....


Fabricated metal products
total...................
Metal cans, barrels, an
drums*.................


Machinery,


except


electrical,


total................,.,.....
Engines and turbines........
Farm machinery and equipment -


Construction,


mining,


material handling equipment.


Metalworking


General
Electrical
Electric


machinery......


industrial
machinery,


machinery
total...


transmission


distribution equipment and
industrial apparatus.......
Household appliances........
Radio and TV................


Communication


equipment.....


Transportation equipment,


Motor vehicles


Aircraft,


total


and parts....


missiles,


parts......................
Shipbuilding and railroad
equipment............. .....


Instruments
products, t
Scientific
All other
related p


and related
otal..............
and engineering..
instruments and
roducts.o.........


All other durable


goods


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


Nondurable


goods


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

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


Tobacco
Textile


industries


products,
**.*..*******


products.....
mill products


Paper and allied


products,


total........................
Pulp, paper, etc............
Paperboard containers.......
All other paper containers..

Chemicals and allied products,
total.........................


Industrial


chemcials,


except


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


Drugs,

Petroleum
Rubber an'


soap,


and toiletries.


and coal products...


d plastics


Shipments


Total inventories


Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
adjustment1 adjustments


28.866


66,500

57,191

36,649

2,175


2,177

544


1,112
515

597


4,271


29,851


10,033
2,242
631

551
2,511


2,430
997
704
729


4,877


2,281


2,109

603


1,130
576

554


4,459


29,853


9,839


4.960


7,641
5,059

1,795

580


999
472

527


3,538


26.630


106,520

89,848

69,769

2,376


9,366

2,220


Oct.
1972r


106,008

89,522

69,330

2.385


6.801


7,425

672


13,700
1,309
1,196

2,531
1,178
1,168
10,237


6,751


106,005
i ~ /
89,195

69,355

2,268


6.720


105,311

88,682

68,840

2,259


101,183 ,

86,077


GROUP










OF MANUFACTURERS'


(Millions


of dollars)


Industry


group


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


Total,


excluding


indus-


trans-


portation


Durable g

Primary


oods industries,


total.


metals,


Blast furnaces


Nonferrous

Fabricated m

Machinery, e


fligines


total* *m*.*.*

. steel mills


metals.....


metal products.....


except


electrical


and turbines......


mining,


Construction,


material handling equipment.


Metalworking


............


General industrial machinery.


Electrical ma

Electrical
distribute
industrial
Household a
Radio and T
Communicati

Transportation


Lchinery,


total...


transmission and
on equipment and
Sapparatus......
ppliances........
V. ..... .........
on equipment.....

n equipment,


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


Aircraft


missiles


parts................. ......
Shipbuilding and railroad
equipment..................


All other durable


goods


industries...,*.****..,* ** .


Nondurable goods


industries,


total...................***.***.


Industries


with unfilled


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


Industries


without


orders....en

- Represents


unfilled


New orders


Unfilled


orders


Without seasonal S ajseI Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment
adj ustmentt adj ustment*


68,027

59,137


Oct.
1972r


3,554


6,074

479

957
450
561

5,174



984
665
466
1,304


8,990


2,228

634


7,240


28,695


7,710

20,985


3,691


6,006

547

894
449
549

5,025



1,066
673
498
1,125


8,758


2,275

848


7,512


28,925


7,784

21,141


67,549


30,093


8,394

21,699


3,660


6,039

454

921
456
535

5,243



979
687
527
1,251


9,477


2,162

676


7,746


29,956


8,213

21,743


3,097


4,913

380

720
323
455

4,235



782
550
422
1,036


7,773


1,843

520


6,357


26,686


7,109

19,577


84,197

59,255

80,242

8,521

5,391
2,061

10,038


-.-,-_--


16,564

5,534


6,486


3,732


3,732


Lb,4M

5,531


6,647


3,674


3,674


7,959


10,015


14,898

4,101


9,426


12,509

3,429

2,313
970
1,230

14,402



3,826
130
478
6,271


21,167


14,049

4,834


5,971


3,051


3.051


~Preliminary.


and calendar-month









Table 2.--VAIDE


SHIPUMI2S,


I NVYTORIES,


(Millions


AND ORDERS,
of dollars)


FOE MA1tK~~ CAT3 GRIn


AND SUPPISTAJY


sum


elthout seasonal Without seasonal
Seasonally adjusted itu easonl Seasonally adjusted 'd isent
adjustment" adjustment
Industry group
Nov. Oct. Sept. Nov. Oct. Nov. Nov. Oct. Sept. Nov. Oct. Nov.
1972p 1972 1972 1972p 1972r 1971 1972P 1972r 1972 1972P 1972r 1971


All manufacturing


Durable go
Nondurable

Industry g


ods industries
goods industry


arranged


industries,

, total....
ies, total.


total.

...... ..
-.0 **m.q


by market


categories:


Home good
Consumer
Equipment


s and apparel...........
staples......... .......


and defense


Automotive equi
Construction ma
intermediate p
Other materials
intermediate p

Supplementary ser
HBousehold durab
Capital goods 1i


terials,


products,


except


supplies,


roducts......o.
and supplies and
products. ..........-......

les:2


industries.......


ndustries......


Nondefense.................
Defense*. ......................


All manufacturing


Durable go
Nondurable

Industry g


ods industries
goods industry


arranged


industries,

, total....
ies, total.


* ....
* 5~ C ~ C C


total..

...o -, b
* C .* .. *


market


categories:


Home good
Consaer
Equipment


s and apparel...........
staples .................


and defense


Automotive equi
Construction ma
intermediate p
Other materials
intermediate p

Supplementary ser
Household durab
Capital goods i


products,


..* ....o
except

..and
and


pment...........


roducts...,....*.........,,
and supplies and
roduets...................

ies:2


goods industries5.......


ndustries................


lbndefense...*... .... ..........
Defense*...............................


*During


1968 manufacturers


in ordnance,


Shipments


66,741

36,838
29,903



6,881
12,735

9,382
6,678

5,857

25.208


63,903

35,037
28,866



6,419
12,233

9,032
6,060

5,612

24,547


3,000
10,632
8,815
1,817


5,725

24.878


67,035

37,182
29,853



7,092
12,745

9,253
7,004


11,568


4,951

21,276


2,597
9,525
7,754
1,771


Total inventories


106,520

69,769
36,751



11,572
14,372

27,810
5,856

8,561

38,349 I


5,462
31,174
25,261
5,913


106, 008

69,330
36,678


105,441

68,834
36.607


69,355
36,650



11,130
14,662

27,755
5,892

8,368

38,198


5,313
31,141
25,180
5,961


New orders Unfilled orders


12,125


25,007


communications,


65,776

36,851
28,925



6,523
12,225

10,050
6,094

5,790

25,094


3,113
11,762
9,519
2,243


aircraft


37,456
30,093


12.886


67.748


and aircraft


57,542

30,856
26,686



5,987
11,584

7,893
5,807

4,790

21,481


2,615
9,644
7,786
1,858


parts,


84.197


2.698


28.936


and shipbuilding


industries


83,268


2,625


42,718


9,640

28,285


2,143
49,098
28,810
20,288

began to


105,311

68,840
36,471



11,227
14,45p

27,363
5,817

8,415


provide


101,183


aflre-


terials,


supplies,


gate figures
included In
variations;


on shipments,


the defense


unfilled


orders,


series -


orders


and total inventories of
Preliminary. rRevis


and inventories


as of end of month.


work performed


for the Department


'Shipments


-The


and


new orders


supplementary


series


of Defense.
adjusted fo


The results
r trading-day


are regroupings


of these reports a
and calendar-month


of the separate


industry


categories


as follows:


Household


durable


goods


industries


- Household


furniture;


kitchen


articles


and pottery;


cutlery,


handtools,


and hardware;


household


appliances;


Capital


goods


ophthalmic
industries


goods,


watches,


- The capital


and clocks;


goods


industries


and miscellaneous


series


personal


is comparable


goods.


to the previous


Producers


Capital


Goods and the Defense


Products
Nondefense
excludingn


(old series)"
products M
g household


categories.


machinery,
appliances


except


electrical


and electronic


(excluding


components)


farm machinery and equipment
and the nondefense portions


and machine


shops),


of shipbuilding


electrical


and repairing


machinery
nd railroad


equipment,


Defense


communication


products


communications,


- Based o
aircraft


equipment, a
n separate re
and aircraft


ircraf
ports
parts


t and aircraft
on defense wor


,


parts,.


and ordnance.


k filed by large


and shipbuilding.


The data


defense


contractors


are comparable


in the following


to those published


industries:


annually


ordnance,


in the MA-175,


Industries, for the specified industries.


groups


e


le


groups


le










Table 3.--MANUJFACTURERS


SHIPMENTS,


INVETORIES,


AND ORDERS MONTk-TO-MONTH


AND LONG TERM PERCENT


CHANGE


(n~sM.


on seasonally


adjusted


Item and industry


Shipments:
All manufacturing


Durable
Nondurab


group


industries....


goods industries, to
'le goods industries,


Total inventories:
All manufacturing
NW orders:
All manufacturing


Durable
Noraturab


Thdilled


Ital........
total.....


industries.........

industries........


goods industries, to
le goods industries,


*tal.......
total.....


orders:


Durable goods


industries


total.


Month-to-month


+2.4


Average monthly


3 months

May 1972-
Aug. 1972


+0.8


+1.8


rates of change


Feb.-May
1972


+1.2


+0.2


12 months

Nov.1971-
Nov. 1972


+1.2


Average


Average
rise


+1.3


+0.5


+0.8


1966-1971


Average
decline


-1.2


-0.2


-1.1


Table 4.--VALUE


OP MA2EUPACFURE ES'


IN VENICE IX S


BY STAGE OF FABRICATION


BY INDUSTRY


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted tut sean Seasonally adjusted adjustment
adjustment adjustment
Industry group ---
Nov. Oct. Sept. Nov. Oct. Nov. Nov. Oct. Sept. Nov. Oct. Nov.
1972p 1972 1972 19729 7272r 1971 1972p 1972r 1972 1972p 1972r 1971

Total Materials and supplies

All manufacturing industries, total... 06,520 L06,008 05,441 106,005 105,311 101,183 33,683 33,379 33,179 33,745 33,446 32,661
Durable goods industries, total,.......... 69,769 69,330 68,834 69,355 68,840 65,461 19,935 19,701 19,468 19,954 19,835 19,144
Stone, clay, and glass products.......... 2,376 2,385 2,367 2,268 2,259 2,180 789 794 791 784 789 757
Primary metals.....e.... ................ 9,614 9,664 9,761 9,698 9,665 9,248 3,451 3,440 3,457 3,568 3,583 3,529
Machinery (electrical and nonelectrical). 24,321 24,009 23,937 24,120 23,793 23,274 6,533 6,389 6,346 6,463 6,350 6,179
Transportation equipment................. 16,672 16,486 16,326 16,810 16,629 15,106 2,905 2,900 2,822 2,951 2,950 3,007
AnI other durable goods industries....... 16,786 16,786 16,443 16,459 16,494 15,653 6,257 6,178 6,052 6,188 6,163 5,672
Nondurable goods industries, total......... 36,751 36,678 36,607 36,650 36,471 35,722 13,748 13,678 13,711 13,791 13,611 13,517
Chemicals and allied products............ 6,829 6,801 6,751 6,720 6,651 6,520 2,328 2,309 2,331 2,319 2,288 2,254
Petroleumn and coal products.............. 2,262 2,261 2,272 2,295 2,297 2,343 518 520 539 512 517 528
Rubber and plastics products, n.e.c...... 2,260 2,255 2,256 2,254 2,226 2,112 636 642 641 648 643 644
All other nondurable goods industries.... 25,400 25,361 25,328 25,381 25,297 24,747 10,266 10,207 10,200 10,312 10,163 10,091

Work in process Finished goods

All manufacturing industries, total.. 37,799 37,675 37,081 37,760 37,617 34,916 35,038 34,954 35,181 34,500 34,248 33,606
Durable goods industries, total............ 32,235 32,070 31,529 32,243 32,042 29,631 17,599 17,559 17,837 17,158 16,963 16,686
Stone, clay, and glass products....... .301 301 304 278 278 274 1,286 1,290 1,272 1,206 1,192 1,149
riJay etals................. 3,297 3,350 3,394 3,316 3,308 3,111 2,866 2,874 2,910 2,814 2,774 2,608
Machinery (electrical and nonelectrical). 10,789 10,697 10,635 10,786 10,679 10,392 6,999 6,923 6,956 6,871 6,764 6,703
Transportation equipment.....*........... 12,539 12,348 11,998 12,627 12,449 10,689 1,228 1,238 1,506 1,232 1,230 1,410
All other durable goods industries......0 5,309 5,374 5,198 5,236 5,328 5,165 5,220 5,234 5,193 5,035 5,003 4,816
Nondurable goods industries, total.....,... 5,564 5,605 5,552 5,517 5,575 5,285 17,439 17,395 17,344 17,342 17,285 16,920
Chemicals and allied products........... 1,050 1,034 1,027 1,040 1,027 992 3,451 3,458 3,393 3,361 3,336 3,274
petroleum and coal products.............. 479 502 499 476 505 491 1,265 1,239 1,234 1,307 1,275 1,324
Rubber and plastics products, n.e.c...... 356 358 344 358 361 330 1,268 1,255 1,271 1,248 1,222 1,138
All other nondurable goods industries.... 3,679 3,711 3,682 3,643 3,682 3,472 11,455 11,443 11,446 11,426 11,452 11,184

P Teliminary.
Revised.


Current Industrial Reports Series MS-1


GROUP









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


(Based


on seasonally adjusted data)


inventories shipments ratio Unfilled orders shipments ratio1
Inventories shipments ratio
(months' backlog)
Industry group
Nov. Oct. Sept. Nov. Nov. Oct. Sept. Nov.
1972P 1972r 1972 1971 1972P 1972r 1972 1971


All manufacturing industries, total.................. 1.60 1.64 1.65 1,77 2.11 2.12 2.14 2.15
Durable goods industries, total............................ 1.89 1,92 1.96 2.14 2.52 2.52 2.57 2.60
Stone, clay, and glass products.......................... 1.08 1.12 1.14 1.29 (NA) (NA) (NA) (NA)
Primary metals.......................................... 1.65 1.68 1.73 2.01 1.46 1.45 1.48 1.31
Fabricated metals........... ..................... 2.15 2.14 2.11 2.25 3.27 3.23 3.25 3.29
Machinery, except electrical............................. 2.36 2.38 2.38 2.70 2.54 2.51 2.46 2.49
Electrical machinery..................................... 2.04 2.12 2.15 2.31 2.99 3.09 3.06 3.42
Transportation equipment................................. 1.89 1.88 2.00 2.07 5.50 5.26 5.68 5.49
Instruments and related products......................... 2.42 2.40 2.41 2.51 (NA) (NA) (NA) (NA)
Nondurable goods industries, total......................... 1.23 1.28 1,27 1.34 0.49 0.49 0.48 0.44
Food and kindred products................................ 0.95 0.99 0.97 1.03 (X) (X) (x) (x)
Tobacco products......................................... 4.36 4.37 4.53 4.35 (X) (X) (x) (x)
Textile mill products.................................... 1.58 1.74 1.56 1.77 (HA) (NA) (NA) (HA)
Paper and allied products................................ 1.13 1.16 1.17 1.29 (KA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.35 1.39 1.39 1.49 (X) (X) (x) (x)
Netroleum and coal products.............................. 0.92 0.95 0.93 1.07 (X) (X) (x) (X)
Rubber and plastics products, n.e.c...................... 1.46 1.47 1.42 1.52 (X) (X) (X) (x)


(NA) Not available.


1Excludes


the following


~Pre1iminary.


industries


with


-Revised.
no unfilled


(x)
order:


Not applicable.
Wooden containers;


glass containers;


metal cans


, 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.


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 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 tnit 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 anid 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 materialsbyother
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







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, "atbookvalues. "Since
different methods of inventory valuation are used
(LIFO, FIFO, etc.), the definition of the aggregate
inventories for establishments in an industry is
not precise. The figures on the change in inm-
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.


111111 IIlII III 1111
3 1262
New Orders Received and Unfi
Orders as reported in the monthly
of cancellations during the month.


UNIVERSITY OF FLORIDA


II I III IIII II I11111 1
08589 4219
lled Orders--
survey are net
They include


orders received during the period and also filled
during the period as well as those orders received
for future delivery. They also include the net
sales value of contract change documents which
increase or decrease the sales value of the un-
filled orders to which they relate. Orders include
only- those supported by binding legal documents
such as signed contracts, or letter contracts. In
case of letter contracts the full amount of the sales
value is included if the parties are in substantial
agreement on the amount; otherwise, only the funds
specifically authorized to be expended are in-
cluded. The respondent is instructed to deduct
the sales value 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 there-
porting period are equal to unfilled orders at the
beginning of the period plus net new orders
received less net sales.
While both new orders and unfilled orders are
used in reviewing individual company reports for
consistency, only unfilled orders are 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 seasonallyadjusteddata
as well as for the unadjusted 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.