Current industrial reports

FOR RELEASE: December 4, 1968


NEW ORDERS

New orders for manufactured products increased
substantially to $53.9 billion in October from the
revised September figure of $51.9 billion, after
seasonal adjustment, the Bureau of, the Census,
U.S. Department of Commerce, announced today. In
the durable goods sector, orders increased $1.9
billion to $30.3 billion. Increases occurred in most
industry groups particularly primary and fabricated
metals, machinery, and transportation. The increase
in seasonally adjusted new orders in transportation
of $.7 billion is, however, significantly less than the
$1.4 billion originally noted in the October advance
report on durable goods. This change resulted
from the application of more current seasonal
factors to the automotive assembly industry where
orders are equal to shipments. This moderation
in new orders in transportation was partially offset
by greater gains in other durable goods industries
reflecting more complete reporting. New orders
for the supplementary series on machinery and
equipment reached $6.5 billion in October compared
with $5.9 billion in September. Orders for the new
defense products series rose $.5 billion to $2.4
billion in October. New orders for the nondurable
goods industries remained at approximately their
September level. (SEE CHART 1)







SHIPMENTS

Manufacturers' shipments at $52.6 billion in
October rose $1.1 billion. As with new orders,
the increase in shipments was primarily in the
durable goods sector. Increases occurred in most
major industry groups with more substantial gains
in transportation equipment and primary metals.
However, the increase in shipments in the trans-
portation equipment sector is less than that noted
in the advance report as a result of the application
of more current seasonal factors to the automotive
assembly industry. (SEE CHART 2)


Chart 1- Manufacturers' New Orders (Seasonally Adjusted)
~~~~~_______~~~_____Billions of Dollars*


-
-^^"- '


I I
1965

Chart 2-


Durable Goods


K-I


*.-'


N aG
^--- d--ura-- -o
Nondurable Goods


1.1 .~ .1.4


*Semilog. scale
I


Manufacturers' Shipments (Seasonally Adjusted)
^~_____________ nBillions of Dollars*



r" TnMi


1966 1967









Chart 3-Manufacturers' Unfilled Orders (Seasonally Adjusted)
~~~~~______~~~~_____Billions of Dollars*


UNFILLED ORDERS

Unfilled orders of $81.9 billion held by durable
goods manufacturers at the end of October registered
a $1.3 billion increase over the $80.6 billion at the
end of September. All industry groups shared in
this increase. The unfilled orders to shipments
ratio decreased to 2.64 in October from 2.67 in
September. (SEE CHART 3)


Chart 4-


INVENTORIES

Total inventories held by all manufacturers at
the end of October increased $.5 billion to $87.6
billion from the $87.1 billion at the end of Sep-
tember. As the result of the moderate increase
inm minventories and a more substantial increase min


shipments,
creased to 1
September.
stories was
goods and ni
occurred in
sectors. (SE


the in
.67 in
The $.
about
ondurab


ventories-shipments ratio de-
October compared with 1.69 in
5 billion increase in total inven-
equally divided between durable
)le goods industries. Increases


all stages of fabrication for both these
E CHART 4)


~.11


uuraole uooas


11111


Total Inventory (Seasonally Adjusted)


*Semilog. scale
| I, I, t 1


Billions of Dollars*


1966 1967


I nni ,~ at, ~.nn ,~a,, .1, nt.. n A La


I A l











Table 1.--VALUE OF MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS, BY INDUSTRY GROUP
(Millions of dollars)

Without seasonal Without seasonal
Seasonally adjusted adjustment1 Seasonally adjusted adjustment
Indus try group
Oct. Sept. Aug. Oct. Sept. Oct. Oct. Sept. Aug. Oct. Sept. Oct.
1968p 1968r 1968r 1968p 1968r 1967 1968p 1968r 1968r 1968P 1968r 1967


All manufacturing industries:
Total...............................
Total, excluding transportation.....
Durable goods industries, total.............
Stone, clay, and glass products...........
Primary metals, total.....................
Blast furnaces, steel mills.............
All 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, including radio
and TV.................................
Communication equipment................
Transportation equipment, total...........
Motor vehicles and parts................
Aircraft, missiles, and parts...........
Instruments and related products..........
All other durable goods industries........


Nondurable goods industries,
Food and kindred products,
Meat products...........


Tobacco
Textile


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


products.........
mill products....


Paper and allied products,
Pulp, paper, etc........


total.....


Chemicals and allied products, total......
Industrial chemicals, except pigments...
Petroleum and coal products...............
Rubber and plastics products, n.e.c.......
All other nondurable goods industries....


All manufacturing industries:
Total...............................
Total, excluding transportation.....
Durable goods industries, total.............
Primary metals, total.....................
Blast furnaces, steel mills.............
Fabricated metal products.................
Machinery, except electrical, total.......
Engines and turbines....................
Construction, mining, and material
handling equipment.....................
fetalworking machinery..................
General industrial machinery............
Electrical machinery, total..............
Electrical transmission and distribution
equipment and industrial apparatus....
Household appliances, including radio
and TV.................................
Coammuication equipment.................
Transportation equipment, total...........
Aircraft, missiles, and parts..........
All other durable goods industries........


Shipments


52,590
44,997
28,993


23,597


24,469


24,546


46,694
41,012


Total inventories


56,685


56,069


1,792


56,292
1,998


________New orders Unfilled orders


30,310


28,381


3,122
5,056
425

709
313
494
4,171

575

866
1,488
7,233
2,521
5,593


81,889


80,572


13,234


81,318


9,127


I a I I


79,114


8,174


f H


I















Tit! 2.--VALP OF AV'inACTUR!'" 3HIPENTS, INVrErTOPIES, AND ORDERS, FOR MARKET CATEGORIES AND SUPPLEMENTARY SERIES

(Millions of dollars)


S Without seasonal o Without seasonal
Seasonally adjusted au e Seasonally adjusted d u
ad ustment adjustment

Industry group 1-------
Oct. Sept. Aug. Oct. Sept. Oct. Oct. Sept. Aug. Oct. Sept. Oct.
1968 1968r 1968r 1968 j1968r 1967 1968p 1968r 1968 1968p 1968r 1967


All manufacturing


industries


Durable goods inaustrie:, to
Nondurable goods Indcutries,


groups arranged


total..


toi.al.
tot-al.


!TarMct


..


categories:
Hone goods and apparel..
Consumer staples:.........
Equipment and defense pro
A*utcmti............. .
Autc otive equipment2...
Construction materials, s
interiedi a'e produ t....
Other material: * in:ermediate roOue ... -.


Supplementary series:
Cons'Tner durable CoKI InduS
Machinery and equipment indu
Defense products industries
De:'er:" e croxue*s (:new series


All marnff~cturing industry~


excert


uwpliest,


Ce a ;nd.
. ..- ..


ly


*' '











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

(Based on seasonally adjusted data)
Month-to-month-1968 Average, 1962-1967 Average monthly rates of change
3 months 6 months 12 months
Item and industry group e A -
Sept.- Aug.- July- Average Average July- April- Oct. ]97-
Oct. Sept. Aug. rise decline Oct. Oct. t. 196-
1968 1968 .
Shipments:
All manufacturing industries........... +2.2 +3.2 -3.1 +1.3 -1.0 +0.8 +1,3 *1.2
Durable goods industries, total.......... +3.6 +4.3 -4.9 +2.1 -1.9 +1.0 +1.3 +1.4
Nondurable goods industries, total....... +0.6 +2.0 -1.0 +0.9 -0.5 +0.5 +1.3 +1.0
Total inventories:
All manufacturing industries........... +0.6 +0.5 +1.0 +0.7 -0.2 +0.7 +0.7 +0.5
New orders:
All manufacturing industries........... +4.0 +3.3 +0.1 +1.8 -1.5 +2.5 +1.6 +1.0
Durable goods industries, total.......... +6.8 +3.8 +1.5 +3.0 -2.5 +4.0 +1.8 +2.2
Nondurable goods industries, total....... +0.5 +2.7 -1.7 +1.0 -0.6 +0.5 +1.3 +1.0
Unfilled orders:
Durable goods industries, total......... +1.6 +0.5 +0.6 +1.3 -0.7 +0.9 -0.1 +0.2


Table 4.--RATIO OF MANUFACTURERS' INVENTORIES TO SHIPMENTS AND UNFILLED ORDERS TO SHIPMENTS, BY INDUSTRY GROUP

(Based on seasonally adjusted data)

Inr si. rUnfilled orders shipments ratio1
Inventories shipments ratio (months' backlog)
(months' backlog)
Industry group
Oct. Sept. Aug. Oct. Oct. Sept Aug. Oct.
1968p 1968 1968 1967 1968 1968 1968 1967

All manufacturing industries, total?2................. 1.67 1.69 1.74 1.79 2.64 2.67 2.79 2.94
Durable goods industries, total?.............................. 1.96 2.02 2.09 2.15 3.18 3.24 3.38 3.54
Stone, clay, and glass products.......................... 1.49 1.51 1.55 1.60 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.76 1.89 2.03 1.97 1.38 1.43 1.51 1.71
Fabricated metals ........................................ 2.07 2.14 2.18 2.05 3.51 3.54 3.53 3.48
Machinery, except electrical............................. 2.15 2.21 2.30 2.47 2.83 2.84 2.95 3.34
Electrical machinery..................................... 2.41 2.40 2.41 2.35 3.72 3.65 3.65 3.88
Transportation equipment.,............................... 1.83 1.92 1.99 2.11 6.75 7.06 7.64 8.08
Instruments and related products...................... 2.13 2.07 2.13 2.39 (NA) (NA) (NA) (NA)
Nondurable goods industries, total........................ 1.31 1.31 1.33 1.39 0.48 0.48 0.50 0.53
Food and kindred products................................ 0.95 0.95 0.96 1.00 (X) (X) (X) (X)
Tobacco products......................................... 5.25 5.40 5.40 5.61 (X) (X) (X) (X)
Textile mill products................................. 1.92 1.88 1.99 1.88 (NA) (NA) (NA) (NA)
Paper and allied products.............................. 1.12 1.10 1.15 1.25 (NA) (NA) (NA) (NA)
Chemicals and allied products............................ 1.44 1.43 1.43 1.54 (X) (y) (X) (X)
Petroleum and coal products............................ 1.12 1.11 1.11 1.10 (X) (X) (X) (X)
Rubber and plastics products, n.e.c...................... 1.35 1.42 1.46 1.45 (X) (X) (X) (X)


(NA) Not available.


~Pre1iminary.


(X) Not applicable.


1Excludes the following industries with no unfilled order: Wooden containers; glass containers; metal cans, barrels and drums; motor
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.
2July 1968 Inventories-Shipments ratio revised to 1.67.
3July 1968 Inventories-Shipments ratio revised to 1.97.
4July 1968 Inventories-Shipments ratio revised to 1.89.










OF MANUFACTURERS' INVENTORIES, BY STAGE OF FABRICATION, BY INDUSTRY GROUP


(Millions of dollars)
Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
Industry group
eOct. Sept. Aug. Oct. Sept Oct. Oct. Sept I Aug. Oct. Sept Oct.
1968 1968r 1968 1968 1968 1967 1968968 1968 1968 p 1968P 1967 17
Total Materials and supplies

All manufacturing industries, total.. 87,614 87,109 86,713 86,926 86,409 81,329 28,304 28,215 28,289 28,334 28,248 26,779
Durable goods industries, total............ 56,685 56,458 56,069 56,292 56,141 52,506 16,743 16,704 16,781 16,946 16,988 15,621
Stone, clay, and glass products.......... 2,087 2,029 2,003 1,998 1,964 1,865 686 664 667 679 666 629
Primary metals..................*......... 7,450 7,502 7,433 7,507 7,488 7,646 2,848 2,876 2,853 2,961 2,952 2,928
Machinery (electrical and nonelectrical). 19,673 19,715 19,622 19,438 19,482 18,767 4,816 4,850 4,867 4,815 4,860 4,751
Transportation equipment................. 13,866 13,889 13,761 13,984 14,016 12,379 3,380 3,436 3,496 3,516 3,603 3,022
All other durabl- goods industries....... 13,609 13,323 13,250 13,365 13,191 11,849 5,013 4,878 4,898 4,975 4,907 4,291
Nondurable goods industries, total......... 30,929 30,651 30,644 30,634 30,268 28,823 11,561 11,511 11,508 11,388 11,260 11,158
Chemicals and allied products............ 5,872 5,793 5,751 5,738 5,693 5,393 2,066 2,034 2,022 2,035 2,015 1,937
Petroleum and coal products.............. 2,113 2,083 2,066 2,140 2,113 1,967 452 443 427 443 443 393
Rubber and plastics products, n.e.c...... 1,733 1,733 1,748 1,712 1,703 1,571 550 542 542 554 553 561
All other nondurable gods industries.... 21,211 21,042 21,079 21,044 20,759 19,892 8,493 8,492 8,517 8,356 8,249 8,267

Work in process Finished goods

All manufacturing industries, total.. 30,563 30,451 30,273 30,478 30,335 28,469 28,747 28,443 28,151 28,114 27,826 26,081
Durable goods industries, total............ 25,814 25,772 25,544 25,745 25,631 24,090 14,128 13,982 13,744 13,601 13,522 12,795
Stone, clay, and glass products.......... 318 304 304 293 289 273 1,083 1,061 1,032 1,026 1,009 963
Primary metals........................... 2,462 2,486 2,469 2,459 2,452 2,605 2,140 2,140 2,111 2,087 2,084 2,113
Machinery (electrical and nonelectrical). 9,297 9,305 9,311 9,271 9,252 8,956 5,560 5,560 5,444 5,352 5,370 5,060
Transportation >quipient................. 9,150 9,128 8,981 9,153 9,108 8,208 1,336 1,325 1,284 1,315 1,305 1,149
All other durable goods industries....... 4,587 4,549 4,479 4,569 4,530 4,048 4,009 3,896 3,873 3,821 3,754 3,510
Nondurable goods industries, total......... 4,749 4,679 4,729 4,733 4,704 4,379 14,619 14,461 14,407 14,513 14,304 13,286
Chemicals and allied products............ 886 872 866 884 876 810 2,920 2,887 2,863 2,819 2,802 2,646
Petroleum and coal products.............. 447 451 447 455 458 434 1,214 1,189 1,192 1,242 1,212 1,140
Rubber and plastics products, n.e.c...... 308 303 315 310 308 283 875 888 891 848 842 727
All other nondurable goods industries.... 3,108 3,053 3,101 3,084 3,062 2,852 9,610 9,497 9,461 9,604 9,448 8,773


~Preliminary.

































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UNIVERSITY OF FLORIDA

Ni ii I i I IIMiiii I II II
3 1262 08589 3682
U.+. ULrAKIM.NI OF COMMERCE


U.S. DEPARTMENT OF COMMERCE
BUREAU OF THE CENSUS


WASHINGTON. D.C.


C,
*

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