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 1968
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:
AA00008477:00205

Related Items

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

Full Text
1',,15S: m3-~1r) I

i- "' J 3 ( 1


t ^.APR 1977



BUREAU OF THE CENSUS 1 //;


CURRENT INDUSTRIAL REPORTS

manufacturers' Shipments,

Inventories, and Orders


January 1977
For Release March 3, 1977 2:00 P.M.
Series: M3-1 (77)-1


All figures in text below are in seasonally adjusted current dollars


Shipments of all manufacturing industries declined by 1
percent or $1.4 billion in January to $103.9 billion while in-
ventories rose by one-half of one percent or $0.9 billion to
$167.7 billion, the Department of Commerce, Bureau of the
Census reported today. New orders for manufactured products
declined by 2 percent or $2.3 billion, but exceeded shipments
by $1.4 billion resulting in the fifth consecutive rise in the
backlog of unfilled orders. The January decline in shipments
and new orders follow substantial December increases: $4.7
billion or 5 percent for shipments, and $6.1 billion or 6 percent
for new orders.
The January decrease in new orders and shipments resulted
from decreases in durable goods which were heavily influenced
by the transportation equipment industries. After the largest
automotive increase in six years, shipments of motor vehicles
and parts declined in January by $1.2 billion or 12 percent to
$8.8 billion. Although the January decline offset much of the
December increase in this industry, January shipments of motor
vehicles and parts remain 10 percent or $0.8 billion above the
November shipments level of $8.0 billion. Since new orders are
essentially equal to shipments in this industry, the shipments
decline contributed about half of the overall decline in new
orders. The aircraft and parts industry also followed an un-
usually large December increase with a $1.6 billion or 41 per-
cent decline in new orders in January.
New orders recorded by manufacturing industries other than
the transportation equipment industries rose $0.6 billion or
nearly 1 percent. The new orders received by the primary metals
producers rose nearly 10 percent or $0.7 million to $7.9 billion.
Blast furnaces and steel mills, after recording several declines in
mid-1976, reported a 6 percent or $0.2 billion increase in new
orders to $4.0 billion. New orders for nonelectrical machinery
rose 3 percent or $0.3 billion to $10.1 billion.


The $0.6 billion or 1 percent rise in shipments by nondurable
goods industries was substantially the result of a $0.4 billion or
6 percent rise in shipments of petroleum products to $7.9 bil-
lion and a $0.2 billion or 2 percent rise in shipments of food
products to $14.9 billion. The January increase in manufactur-
ing inventories was entirely due to an increase in durable goods
industries. Inventories held by motor vehicles and parts pro-
ducers rose $0.4 billion or 6 percent to $6.7 billion and inven-
tories held by blast furnaces and steel mills rose $0.2 billion or 2
percent to $10.2 billion. Most of the remaining increase was
attributable to an increase in the lumber and wood products
industries. Inventories held by nondurable goods manufactures
were virtually unchanged in every industry.
When the basic industries are recast into supplemental cate-
gories, nondefense capital goods industries showed a $0.5 billion
or 3 percent rise in new orders to $14.8 billion and a $0.3
billion or 2 percent decline in shipments to $13.9 billion. As
new orders exceeded shipments by $0.9 billion, the backlog of
unfilled orders for nondefense capital goods industries rose 1
percent to $78.9 billion. The substantially more volatile defense
capital goods industries recorded a $2.3 billion or 58 percent
decline in new orders to $1.7 billion while shipments remained
unchanged at $2.4 billion. The backlog of unfilled orders for
defense industries fell by $0.7 billion or 2 percent to $31.5
billion.



SCHEDULED RELEASE DATES

The advance report on durable goods for February is scheduled
for release on March 21, 1977, and the full report is scheduled
for release on March 30, 1977.


Address inquiries concerning these figures to U.S. Department of Commerce, Bureau of the Census, Industry Division, Washington, D.C. 20233, or call
William Menth, (301) 763-2502.
For sale by the Subscriber Services Section (Publications), Bureau of the Census, Washington, D.C. 20233, or any U.S. Department of Commerce district
office. Postage stamps not acceptable; currency submitted at sender's risk. Remittances from foreign countries must be by international money order or
by a draft on a U.S. bank. Price 30 cents per copy, $3.60 per year.










Table 1.--VALUE OF MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS, BY INDUSTRY GROUP

(Millions of dollars)

Shipments Total inventories


Industry group Seasonally adjusted Without smeasonal Seasonally adjusted Without seasonal
adjustment' adjustment'

Jan. Dec. Nov. Jan. Dec. Jan. Jan. Dec. Nov. Jan. Dec. Jan.
1977 1976r 1976r 1977P 1976r 1976 1977P 1976r 1976r 1977P 1976r 1976


All manufacturing indus-
tries:
Total...................
Total, excluding trans-
portation ..............

Durable goods industries, total.

Stone, clay, and glass products.

Primary metals, total.........
Blast furnaces, steel mills.
Nonferrous and
other primary metals.......

Fabricated metal products
total ........................
Metal cans, barrels, and
drums.......................

Machinery, except electrical,
total........................
Engines and turbines........
Farm machinery and equipment.
Construction, mining, and
material handling equipment.
Metalworking machinery......
General industrial machinery

Electrical machinery, total...
Electrical transmission and
distribution equipment and
industrial apparatus.......
Household appliances ........
Radio and TV ................
Communication equipment .....

Transportation equipment, total
Motor vehicles and parts....
Aircraft, missiles, and
parts ......................
Shipbuilding and military
tank vehicles .............

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

All other durable goods
industries ...................

Nondurable goods industries,
total ...... .....................

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

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

Paper and allied products,
total ........................
Pulp, paper, etc.............
Paperboard containers.......
All other paper containers'..

Chemicals and allied product ;,
total ......... ...............
Industrial chemc ials, ,ax,' p
pigments....................
Drugs, soap, and toilet ri.

Petroleum and ,oal products ...
Rubber and plastics psrluvct ,
n.e.c ........................
All other nondurable g*odIs
industries ...................
See footnotes at ea nd of tabhl.


103,927

91,240

53,573

2,638

7,297
3,474

2,978


6,746

566


9,828
919
967

1,696
518
800

6,501


1,320
878
440
1 647

12,687
8,806

2,242

759


2,269
1,.391
690






50,154


14,948
1,801
1, >4 3

70:)


Cal

3,1 1
1 91 1


-105,277

91,008

55,520

2,703

7,298
3,583

2,910


6,961

569


9,666
830
956

1,726
576
850

6,700


1,231
902
465
1,820

14,269
10,036

2,729

654


2,198
1,283
747


5,725


49,757


14,711
3,815
1,354

753
3, 30 2


;>,296a
1 2796
1,008
1 18


100,596

88,891

51,427

2,569

7,283
3,714

2,751


6,610

556


9,407
861
854

1,660
550
809

6,273


1,163
879
444
1,649

11,705
8,004

2,310

648


2,123
1,256
714


5,457


49,169


14,773
3,639
1,380

640
3,143


4,153
1,
1,809
1,003
1,341


8,827

3,114
2,1 )7

7 154


97,136

85,027

49,509

2,281

6,947
3,463

2,707


6,157

488


9,195
827
913

1,640
485
713

5,969


1,186
719
383
1,634

12,109
8,604

2,200

685


2,074
1,327
574


4,777


47,627


14,311
3,797
1,353

b668
2,938


4,164
1,862
969
1,333


8,086(

2,86 3
1995

7,792

2,(, f25


98,444

86,448

50,726

2,320

6,752
3,357

2,694


6,505

479


9,405
993
752

1,531
605
856

6,565


1,224
825
484
1,883

11,996
7,925

2,771

659


2,197
1,260
780


4,986


47,718


14,703
3,845
1,335

751
3,097


4,011
1 ,746
948
1, 117


7,9t61


2,o31


87,424

77,786

43,210

2,112

6,544
3,517

2,326


5,779

489


7,997
659
781

1,480
495
706

5,134


976
665
403
1,285

9,638
6,535

1,932

553


1,845
1,115
580


4,161


44,214


13,981
3,798
1,172

647
2,885


3,846
1,697
953
1,196


7,677



'.,91.
1,95,

a ,402

2,)7


167,709

148,134

106,811

4,236

17,243
10,174

6,125


13,282

1,147


24,272
1,949
2,337

5,500
1,574
2,555

14,043


2,899
1,442
821
4,153

19,575
6,679

10,213

1,195


4,640
2,865
1 ,292


9,520


60,898


15,697
1,228
1,817

3,469
5,275


5,211
2,011
1 ,349
1,851


11,15t,

3. 844
3, 90(6

1,035


91104
9.110


166,856

147,610

105,988

4,194

17,130
9,980

6,178


13,173

1,109


24,320
1,917
2,323

5,623
1,555
2,472

14,112


2,884
1,504
816
4,239

19,246
6,301

10,251

1,200


4,574
2,816
1,269


9,239


60,868


15,648
1,261
1,829

3,508
5,2%3
3


5,200
2,004
1,357
1,839


11,042

3,890


148

3,888

9,181


167,114

147,068

106,128

4,130

17,178
10,072

6,126


13,183

1,085


23,845
1,805
2,252

5,737
1,531
2,463

14,009


2,817
1,537
849
4,224

20,046
6,974

10,391

1,240


4,581
',863
1,234


9,156


60,986


15,694
1,3.42
1,7 43

3,630
5,17o






1,8 '


169,523

149,557

107,628

4,250

17,657
10,560

6,149


13,186

1,134


24,410
1,945
2,393

5,588
1,576
2,562

14,068


2,912
1,494
764
4,240

19, 966
6,879

10, 347

1 ,211


4.577
2,851
1,253


9,514


S1,895


16,293
1,236
2,042

1,774
5.247






1, 8 '


13, 188 13,404

3,819 1,9.44
3,81 3,8S 7

5, 4.

3,81 3. f ,

9,198 9.00,


167,560

148,206

105,767

4,114

17,294
10,309

6,030


12,946

1,000


24,328
1,922
2,309

5,657
1,541
2,420

13,977


2,882
1,505
781
4,217

19,354
6,376

10,231

1,255


4,535
2,853
1,206


157,298

138,071

100,464

3,860

15,648
8,825

5,956


12,915

1,166


23,467
1,642
2,328

5,676
1,655
2,391

12,684


2,516
1,379
822
3,843

19,227
6,237

10,503

1,216


4,328

1,226


9,219 8,335


61,793 56,834


lt,,.11
1, ~,
19a

1, '.6
.119


I1,026
1,.228
1,448

4,5
.488


2,012 1,873

1,877 1,a6t


13, 2.1 1 ., 3t

3,9 I33


5.142 21



8,935 8,6)









Table 1.--VALUE OF MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS, BY INDUSTRY GROUP-Continued

(Millions of dollars)


Industry group


All manufacturing indus-
tries:2
Total...................
Total, excluding trans-
portation ..............

Durable goods industries, total2

Primary metals, total.........

Blast furnaces, steel mills.
Nonferrous and other
primary metal products .....

Fabricated metal products.....

Machinery, except electrical,
total ........................

Engines and turbines ........
Construction, mining, and
material handling equipment.
Metalworking machinery ......
General industrial machinery.

Electrical machinery, total...

Electrical transmission and
distribution equipment and
industrial apparatus.......
Household appliances........
Radio and TV ................
Communication equipment .....

Transportation equipment,
total2 .......................

Aircraft, missiles, and
parts 2.....................
Shipbuilding and military
tank vehicles ..............

All other durable goods
industries ...................

Nondurable goods industries,
total..........................

Industries with unfilled
orders......................
Industries without unfilled
orders .......................


- Represents zero.


'Adjusted for trading-day al
2See footnote 2 on table 2.


New orders


Seasonally adjusted


Jan.
1977p


105,346

92,688

55,013

7,943

4,047

3,002

6,816


10,111

835

1,732
643
1,073

6,949




1,413
952
443
1,817


12,658


2,330

434


10,536


50,333


11,826

38,507


107,634

92,054

57,497

7,252

3,808

2,629

7,072


9,822

557

1,762
677
873

7,139



1,300
938
487
2,143


15,580


3,924

822


10,632


50,137


12,266

37,871


Preliminary. Revised.


Without seasonal
adjus tme nt t


-r F I


101,461

89,270

52,424

7,529

3,650

3,080

6,805


9,336

747

1,674
763
715

6,408



1,157
909
452
1,792


12,191


2,882

553


10,155


49,037


11,243

37,794


Jan.
1977P




99,248

86,679

51,430

7,602

3,803

2,970

6,238


9,404

642

1,688
573
993

6,386




1,308
783
364
1,831


12,569


2,483

583


9,231


47,818


11,261

36,557


De .
1976r




100,227

86,937

52,298

6,948

3,738

2,496

6,482


9,448

1,006

1,503
663
808

6,786



1,264
862
515
2,010


13,290


86,841

77,683

42,307

6,368

3,489

2,332

5,674


7,936

770

1,379
461
513

5,071



836
719
393
1,420


9,158


3,980 1,584

696 173


9,344


47,929


11,540

36,389


8,100


44,534


9,891

34,643


Unfill d orders


Seasonally adjus


Jan .
1977P


177,107

124,382

168,934

16,649

10,566

5,003

23,372


44,283

16,449

6,432
3,035
6,673

23,699




5,984
366
549
10,844


52,725


34,834

9,810


8,206


8,173


8,173


175,686

122,933

167,494

16,004

9,993

4,980

23,302


44,001

16,533

6,396
2,910
6,400

23,251



5,890
292
546
10,674


52,753


34,746

10,134


8,183


8,192


8,192


ted


Nov.
1976r


173,333

121,888

165,519

16,051

9,768

5,261

23,192


43,843

16,806

6,360
2,809
6,378

22,812



5,822
256
524
10,351


51,445


33,553

9,967


8,176


7,814


7,814


Without easo.
adj ust mnt '

Jan Dec .
19771' 1976r


176,564

123,105

168,557

16,393

10,302

4,998

23,170


44,064

16,406

6,387
2,977
6,673

23,486




5,974
324
506
10,839


53,459


35,297

9,862


7,985


8,007


8,007


174,453

121,45t

166,639

15,740

9,963

4,736

23,090


43,854

16,590

6,339
2,890
6,393

23,071



5,853
261
525
10,642


52,997


35,014

9,963


7,887


7,814


7,814


nd calendar-month variations.


nal


Jan.
1976




169,660

119,722

161,822

14,343

9,226

3,896

23,388


45,239

16,067

7,633
2,582
6,686

21,019



5,812
255
443
9,079


49,938


32,988

9,359


7,895


7,838


7,838










", 2.--VALUE OF MANUFACTURERS SHIPMENrTS, INVEN11)RIES, AND ORDERS, FOR MARKET



wI t 6out seaso- |
Se,. nally ,l,,,.,,ila ,adjusle nt


Kuble goodss industries, toal .........
rible g ,ds industry, e s, total .....,

nto [i oup arranged by ma rke,1

I n coII ds l and apparel ..................
ller stapl es ... ....................
E irint and deh,,I-t pr, du<,t- ept
,ut > at q,,e .......o .......................
9 t,, mt, ye lqulpment ............... ......
(sructl mat trials, sup ts. I and
lt ledat e routs ................
Other m trialss 1and supply d
int medIlat pr ducts ...................

Suppl-mentary ,,Is
1ousehold durable o a ndust ls.......
(apItal god nif ls tnr.es...............
N ,nd fns ....... .... .. ...........
I,: ense .... .......... .. ..... ..........




All manufl luring indu strle t,talZ

Durable goods indu ti ,s. ttalz..._ ........
I r 1dl,, u0do i, dustr1,5 t .........1


I nd- t try groups arranged by M.-rt

E, g ds and ,apparel ...................
'ins umer st ......... ...... ....... .


Euiptmednt ud In products p.. ...



t, mC ld to p...... ....................

S,.;Jle -tary n
-0- ch l1 dur.bl,, i:ned, od-s I I .1
lm t l ou i- pd- tr- .... ... ........
i n? d a ........ ... ........
Sf er 1 d ....................u
II) 1l n e*. .. .. .


53,573
50,354




8,474
18,547

14,433


Dec Novr D'c. Jan.
1970 976 1976r 1976

Shipments

105,277 100,596 97,136 98,444 87,424

55,520 51,427 49,509 5(),726 43,210
49,757 49,169 47,627 47,718 44,214



8,4t2 8,431 7,395 7,36 6 b,921
18,405 18,297 17,611 18,296 17,048

14,888 14,004 13,510 14,675 11,738


8,505 7,069





3,263 2,886
15,639 15,165
13,350 12,836
2 289 2,329

N- -rde-rs


101,461

52,424
49,037



8.433
18,274

14,086
9,628

8,721

42,319


3,284
16,064
12,878
3,186


8,436 8,898

43,503 42,913


3,326 3,319
16,255 16,671
13,876 14,208
2,379 2,46t




105,346 107,634

55,013 57,497
50,333 50,137



8,658 8,470
18,580 18,398

14,023 16,38t
10,719 11,8009

8,516 9,075

44,850 43,505


3,495 3,314
16,424 18,303
14,755 14,305
1,66 9 3,998


CATGIORLES AND SUPPLEMENTARY SERIES


W11thut a. na
adjut t-nt


Total Itn\ t -ris


167,709

106,811
60,898


6,582


40,830 37,481 67,949


3,063 2,74 6,942
16,552 13,006 43,40(
13,995 11,077 36,783
.557 1,92 _6.,61)


100,227 86,841

52,298 42,307
47,929 44,5134


177,107

168,931
8,173


7,537 7,256 6 *
17 ,667 18.295 17 *

13,560 15,992 1 I I
10,243 9,469 .

7,161 8,100 6,490 18,

43,080 41,115 37, 24, 54,


3,014 ,964 2,760 2,
15,824 17,733 12,168 110,
13,796 13.695 10,613 78,
2,028 4038 155 5 31,


166,856

105,988


167,114 169,523167,5b0 157,298

106,18 107,628105,767 100,464
60,986 61,895 61,793 56,834


14,078| 14,039 14.143
23,184 23,129 23,367

39,112 39,300 38,943
8,859 8,430 8,993

14,527 14,161 13,983


I 67,797 67,685


13,975 13,797 12904
23,821 23,784 22,3 78

39,375 39, 10 38,297
9,040 8,482 8,124

14,507 14.038 13,429

68,8051 68,249, 62.16


6,923 6,996 6,931 6,855 6,374
43,562 43,124 43,698 43,48 4 034
36,880 36,277 36,981 36,778 35,641
6,682 6,847 6,717 6,706 ,393




175,686 173,333 170,564174,453 169,660

167,494 165,519 168,5571166,639 161,822
8,192 7,814 8,007 7.814 7,838


521 3,302 3,303 3,327 3,130 1 3,111


421


101,296 99,712 101,563 101,.83 98.357


18,014 17,8 6 17.956 17.863 18,933

53,074 52,482 53,718 2,.177 49.,59


2,644 2.6,01 2,603 2,477 2,477
110,253 108,62 i110,6821190 107,432
78,022 77,925 787951 77 78649
32.231 30,.98 31,887 32.18 1 8 83


-During 1968 manufacturers in ordnance, -ommunications, aircraft and aircraft parts, and shipbuilding industries began to proved aggre-
gate figures on shipments, orders, and total inventories of work performed for the Department of Defense. The results of these r1,por!s are
inc luded in these new defense series. Since there are n hi st oric data available to develop separate seasonal Iactors for tht*s reporters,
p r
the data have been seasonally adjusted using the factors of these Industries. Preliminary. Revised. 'Shipments and new orders
ad ousted for trading-di, and .taleltndar-aonth variations; unfilled orders ,iand inventories as of end ,4, ,iouith. 2Th, 1l lowing ( dta reflect
revised shipments, new orders, and unfilled orders data:


Ship ments

;1a Is- l a I Iy Aithurt eas.-a Seias na.Ily
ad jusIe d adjustment adjusted


Neu orders

without seasonal
adjlustment


Unf ll4 d 1 l *rdtv

a..ason a lly Ithout seasonal
ad julsted : .d Iustment


All mi g., t tal..

Durables, total ......
Tr a sp rtatIon..... I
A i vr tt iIand
parts ...........
Non-iurable s, total,.
Foods and kindred
prod t- s.........

M ipital gN", s .....


(X) Not vniIllnble.


97,682 100,708 101,820 99, 646 100.n19 103,112 172,.8 1 2,4 | 172.731

(X) (X) W (X 50,993 51,449 53,01t 1s.,522 165.0.0 1: h.998
(X) 19X) (X1) 11,431 12, ..42 12, .5 50,958 1, 72 51,9

( ) 5(N ()) M 1,519 2, 3,54 32982 3.1,774 3.5 >
48, 15 41,300 9, 951 (X) (X) j I ) )

14,07 15,02. 15,289 1X0 X 1X) (.) IX) M

<\1 I x) t') 17,203 15,112 17, 38 108,19 108,83 108,93t
1X) X) I \) 2,901I 2,671 ,1001 29,800, | 0 1.70, 10,239
2 .1i


All manufacturing idus, ti t tal 103,927


Sea.sonal ly ad used


, t ,


1


r.









Table 3.--MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS MONTH-TO-MONTH AND IONG TERM PERCENT CHANGES

(Based on seasonally adjusted data)


Month-to-


Item and industry group )ec. 1976- Nov.
Jan. 1977 Dec. 1'


Shipmen ts:
All manufacturing industries .........

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

Total inventories:
All manufacturing industries .........
New orders:
All manufacturing industries .........
Durable goods industries, total........
Nondurable goods industries, total.....
Unfil led orders:
Durable goods industries, total........


mon th


- Oct.-
976 Nov. 1976


-1.3 +4.7 3.0

-3.5 .8.0 +*4.4
+1.2 +1.2 1 .6


-0.2 .0.3


*6.1 [ 1.8
'9.7 +2.8
+2.2 +0.8


+1.2 +0.6


Average monthly rai'ts of change

3 months 12 months

Oct. 1976- July- Apr.- Jan. 1976-
Jan. 1977 Oct. 1976 July 1976 Jan. 1977



+2.1 -0.6 +0.3 +0.9

+3.0 -1.2 +0.6 +1.1
+1.3 +0.5 +0.1 +0.6


+0.2 +0.9 +0.8 +0.6


+1.9 +0.2 +0.1 +1.1
+2.7 -0.1 +0.6 +1.6
+1.1 +0.4 -0.3 +0.6


+0.9 0.1 +0.3 +0.4


Table 4.--VALUE OF MANUFACTURERS' INVENTORIES, BY STAGE OF FABRICATION, BY INDUSTRY GROUP

IMillions of dollarsI


Industry group


All manufacturing industries, total..
Durable goods industries. total............
Stone, clay, and glass products..........
Primary metals...........................
Machinery (electrical and nonelectrical .
Transportation equipment..................
All other durable goods industries.......
Nondurable goods industries, total.........
Chemicals and allied products ............
Petroleum and coal products..............
Rubber and plastics products, n.e.c......
All other nondurable goods industries....



All manufacturing industries, total..
Durable goods industries, total.............
Stone, clay, and glass products..........
Primary metals...........................
Machinery 'electrical and nonelectricall.
Transportation equipment .................
All other durable goods industries.......
Nondurable goods industries, total.........

Chemicals and allied products ............
Petroleum and coal products ..............
Rubber and plastics products, n.e.c......
All other nondurable goods industries....

PPrel iminary.
revised.


Seasonally adjusted


Jan. Dec. Nov. J
1977 p l976r 1976 1

Total


167,709
106,811
4,236
17,243
38,315
19,575
27,442
60,898
13,156
5,035
3,945
38,762


166,856

105,988
4,194
17,130
38,432
19,246
26,986
60,868
13,042
5,148
3,888
38,790


167,114

106,128
4,130
17,178
37,854
20,046
26,920
60,986
13,088
5,053
3,855
38,990


169,523
107,628
4,250
17,657
38,478
19,966
27,277
61,895
13,404
4,982
3,962
39,547


167,560

105,767
4,114
17,294
38,305
19,354
26,700
61,793
13,241
5,142
3,936
39,474


157,298

100,464
3,860
15,648
36,151
19,227
25,578
56,834
12,096
4,472
3,763
36.503


y adjusted Without seasonal
adjustment

ec. Nov. Jan. Dec. Jan.
76 1976 1977P 197 1976

Materials and supplies


61,037
35,274
1,440
8,067
10,836
4,991
9,940
25,763

5,252
1,868
1,524
17,119


60,520

34,494
1,402
7,975
10,757
4,580
9,780
26,026
5,388
1,868
1,627
17,143


61,163

35,320
1,360
7,864
11,013
5,264
9,819
25,843
5,256
1,808
1,632
17,147


62,067
35,696
1,439
8,275
10,877
5,115
9,990
26,371

5,343
1,837
1,519
17,672


61,654

35,055
1,409
8,197
10,803
4,738
9,908
26,599
5,380
1,816
1,649
17.754


57,680

33,940
1,369
7,444
10,707
4,935
9,485
23,740
4,954
1,398
1,338
16.050


Work in process Finished goods


52,354
43,226
658
5,854
16,438
12,030
8,246

9,128
2,204
1,071
683
5,170


52,235
43,056
646
5,822
16,306
12,194
8,088
9,179
2,151
1,142
692
5,194


52,176
43,005
640
5,967
16,112
12,160
8,126
9,171
2,169
1,158
706
5,138


52,662
43,451
661
5,964
16,532
12,208
8,086

9,211
2,216
1,047
710
5,238


51,784
42,679
607
5,738
16,219
12,163
7,952
9,105
2,141
1,135
698
5,131


49,396
41,000
553
5,170
15,499
11,996
7,782
8,396
1,916
1,024
612
4,844


54,318
28,311
2,138
3,322
11,041
2,554
9,256

26,007
5,700
2,096
1,738
16,473


54,101
28,438
2,146
3,333
11,369
2,472
9,118
25,663
5,503
2,138
1,569
16,453


53,775
27,803
2,130
3,347
10,729
2,622
8,975
25,972
5,663
2,087
1,517
16,705


54,794
28,481
2,150
3,418
11,069
2,643
9,201

26,313
5,845
2,098
1,733
16,637


54,122
28,033
2,098
3,359
11,283
2,453
8,840
26,089
5,720
2,191
1,589
16,589


50,222
25,524
1,938
3,034
9,945
2,296
8,311
24,698
5,226
2,050
1,813
15,609


Average, 1970-1975


Average Average
ri se decl ine










T.1,bl. 5-.--RATIO OF MANUFACTURERS INVENTORIES TO SHIPMENTS AND UNFI,.LED ORDERS TO SHIIiENTS, BY INDUSTRY GROUP
Ba.i d ,in seasonally ad us ted data'


Invent oris hi points ratl i


Unfilled orders shipments ratio
miont hs hacklog


Industry gr-up


Jan.
1977P


I1 mnan it :i

Durable Is indu t ries tot l................. .........

Stm lay, and glass product ................. ..........
Prim.rv metal ............. ................... ... ...
1.1-br u I mc'tols .............. ........... ........ .... .
Machine ry, except electric al ............... ...............
El ect ri tc l machinery .....................................
SI i p t t t i n qu ipment ...... ................. .........
In trtun nts ituld relatJ ,d pritduct .........................

Nondu rabtl goodS industries, tt l n ......................

F-od and kindred products.................................
T, baI < t i. products .........................................
"ist ill mill products ......... ...........................
Paper and allied products. ...............................
ChemiciIs and allied products ...........................
Petroll m nl d coal prodi ts .................... ........ .
Rubb-r and plastics products, n.o.c......................


1.61 1.58

1.99 1.91
1.61 1.55
2.36 2.35
1.97 1.89
2.47 2.52
2.16 2.11
1.54 1.35
2.04 2.08

1.21 1.22

1.05 1.06
4.93 4.66
1.62 1.59
1.20 1.21
1.54 1.51
0.64 0.69
1.38 1.38


Nov.
19761


Jan.
1976


Jan.
1977P


3.35
4.02

0.95
2.28
3.78
5.00
3.65
8.79
1.63

0.75
(X)
IX)
(NA)
(NA)
(x)
(X)
(X)


Nov.
1976b


Jan .
1976


3.53

4.26
1.19
2.13
4.08
5.83
3.74
9.03
1.62

0.79
(X)
(X)
(NA)
(NA)
(x)
(X)
(X)


NAI Not available. P'rliminary. r v d.rei X!s Not applicable.
'Excludes the following industries with no unfilled orders Wood and lumber products; glass containers; metal cans, barrels and drums:
motor vehicles assembly operations; foods and related products; tobacco; apparel and related products; chemicals; petroleum and coal
products. and rubber and plastics products, n.e.c.


.. .









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 defini-
tions previously employed.


DESCRIPTION OF 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 Manufac-
tures (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 establishments. In the ASM,
each manufacturing establishment provides data on employ-
ment, payrolls, shipments, cost of materials, capital expendi-
tures, and inventories as well as other selected items. The estab-
lishments 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 approximately
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 sur-
vey. The survey methodology assumes that the month-to-month
changes of the reporting units classified in each industry cate-
gory 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 establishments in the
industry for contract work performed for others, resales, re-
ceipts 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 ship-


building, the value of work done in a given year varies consider-
ably 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, there-
fore, 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 con-
tain 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 excep-
tion 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 duplica-
tion 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 cus-
tomers. Although this definition of shipments in the monthly
reports differs from that used in the annual establishment re-
ports, it is assumed that the month-to-month changes in com-
pany 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 book values." Since different methods
of inventory valuation are used (LIFO, FIFO, etc.), the defini-
tion of the aggregate inventories for establishments in an indus-
try is not precise. The figures on the change in inventories from
one period to the next are of greater significance than the actual
aggregates.
Inventories are reported by stage of fabrication: (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 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 statistics.


New Orders Received and Unfilled Orders-Orders as re-
ported in the monthly survey are net of cancellations during the
month. They include orders received during the period andalso
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 con-
tracts, or letter contracts. In case of letter contracts the full
amount of the sales value is included if the parties are in sub-
stantial agreement on the amount; otherwise, only the funds
specifically authorized to be expended are included. The re-
spondent 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


UNIVERSITY OF FLORIDA
II III I I I I 111111111BD B IBI 1 MI 1 B lB lB IBB1 I
3 1262 08589 4888
the beginning of the period plus net new orders received less net
sales.
While both new orders and unfilled orders are used in review-
ing 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 seasonally adjusted data as well as for the unadjusted data.
Shipments and unfilled orders are seasonally adjusted inde-
pendently. Seasonally adjusted new orders are derived from
seasonally adjusted shipments and seasonally adjusted unfilled
orders.