Current industrial reports

C.3,/is


(1)3-1


(b1)-)~


New orders for manufactured products in Novem-
ber declined $400 million or 0.8 percent to $56.4


billion,


after


seasonal


adjustment,


the Bureau of


the Census, U.S. Department of Commerce, announced


today.


The decline in new orders was accompanied


by a decline of $600 million in shipments to $56.3
billion from $56.9 billion in October. The backlog
of unfilled orders at $89.4 billion remained virtually
unchanged from October. Manufacturers' inventorie
continued to rise with an increase of $500 million
or 0.5 percent to a total of $95.4 billion from $94.


billion


at the end of October.


The inventories


shipments ratio increased to 1.69 in November froni
1.67 in October since inventories increased while
shipments decreased.

For the 3 months ending in November, the average
monthly change in new orders was an increase of


percent


compared


increase


Chart 1- Manufacturers


New Orders


(Seasonal


ly Adjusted)
Billions of Dollars*
---- 45
40
35


.,., -- 25
,--- ,-2

20


15


emilog. scale
11lulu In -10


1965 1966 1967 1968 1969


of 0.4


percent for the 3 months ending in August and 0.2


percent


months


ending


in May. The


average monthly change in new orders for th
12 months has been an increase of 0.5percent.


e last


NEW ORDERS


orders


million or 2
$31.7 billion.


for durable


percent


goods


declined


from the October total of


The decline in new orders is less


than the $1.1 billion recorded in the advance report
on durable goods, primarily a result of more complete


figures


in the


aerospace


industry.


The primary


metals industry declined $600 million to $4.7 billion
in November and the electrical machinery industry
declined $400 million to $3.7 billion. New orders
in the transportation industry rose as gains of $700
million in aerospace offset declines of $200 million
in the automotive industry. .


Among
durables


the si
declined


supplementary


million


series,


consumer


billion,


defense products rose $300 million to $2.1 billion,


and machinery


and equipment (producers'


capital


goods) remained virtually unchanged. (SEE CHART 1)


Chart 2- Manufacturers' Shipments (Seasonally Adjusted)
Billions of Dol lars*
85
80
75
70
65
60


1966 1967 1968







2

SHIPMENTS


shipments was


attributable to a decrease of $800 million in ship-
ments of durable goods which was partially offset


an increase


nondurable


ments wa
industries
declined


s


of $200


million


in shipments


goods industries. The decline in ship-
widespread among the durable goods
but pronounced in transportation which


million


billion in October.


to $7.8


billion


from


(SEE CHART 2)


UNFILLED ORDERS


Unfilled orders of durable goods


remained
October.
products
declines


virtually


unchanged


at $86.3 billion


from


Increases in backlog for fabricated metal


transportation


most


other


industries.


industry


offset


The durable


goods unfilled orders to shipments ratio increased
to 3.08 in November from 3.04 in October. (SEE
CHART 3)


Chart 3-Manufacturers' Unfilled Orders (Seasonally Adjusted)
Billions of Dollars*


Durable Goods


Semilog. scale
1 1 J, ,L ,E I ,


liii III .1 I


I 1. J1 -l I


INVENTORIES


Chart 4- Total Inventory


(Seasonally


Adjusted)


Billions of Dollars*


Durable


goods


$500 million to $63.1


industries inventories


increased


billion from $6Q,6 billion in


October while the nondurable goods industries re-


mained virtually unchanged.


The largest dollar gain


in durables occurred in the nonelectrical machinery


industry.


Among the nondurable goods industries,


the pattern was mixed with increases in chemicals
and paper offset by declines in textiles and foods.
(SEE CHART 4)

The figures on the durable goods industries in


report


supersede those issued earlier in the


advance report on durable g


is based


on a tabulation


oods. The advance report
of early reports and is


limited to statistics on shipments, new orders, and
unfilled orders for a few broad industry categories.


present


reporting, b
preliminary.
torical data


report


lut the


t is based
estimates


on more


complete


are also considered


Final figures will appear as his-
in the report to be published for next


month.

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


Inquiries
addressed


concerning


these


figures


should


to the U.S. Department of Commerce,


Bureau of the Census, Industry Division, Washington,
D.C. 20233.


-
- --


I] I thu I,, ~ LIII It


Total


Durable Goods


L .- --


Nondurable Goods


,,,LLaJ1., *,I


- -
-


*Semilog. scale
,,I~~tl,,~ I,, I I


The decrease in manufacturers'


k
>












OF MANUFACTURERS'


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted -utn Seasonally adjusted adjustment
adjustment adjustment
Industry group Nov. Oct. Sept. Nov. Oct. Nov. Nov. Oct. Sept. Nov. Oct. Nov.
1969 1969r 1969 1969p 1969r 1968 1969 1989r 1969 1969p 1969r 1968


All manufacturing


industries:


Total.. ...... .......... ......... ..


Total,


Durable g
Stone,
Primary


including


transportation.....
total.............


oods industries,


and glass products...........


metals,


Blast furnaces


All other
Fabricated


total .. ...................
j steel mills...... .. ....
lary metals.... ....... .....


products,


Metal cans, barrels,


Machinery,


Engines


except


total..........
drums..........
k1, total.......


electric


and turbines............... ... .


Farm machinery
Construction,


and equipment............


mining,


and material


handling equipment...,................


Metalworking


General in
Electrical m
Electrical
equipment


machinery. ,...............


dustrial machinery............
achinery, total...............
transmission and distribution
and industrial apparatus.....


Household appliances, including


Comunication
Transportation '


vehicles


Aircraft,
Instruments
All other di
Nondurable go'


equipment..................


equipment,


and parts................


missiles,


relate


and parts...........
d products.........


goods industries........


ods industries,


Food and kindred


products,


Meat products....................... ...


Tobacco
Textile


Paper


products.m......................
mill products.....................


allied


products,


Pulp, paper,


Chemicals an
Industrial
Petroleum an


Rubber
All oth


d allied pr
chemicals,


oducts,
except


total......
pigments.,,


d coal products...............


and plastics
er nondurable


All manufacturing


Total,


Durable g
Primary


excluding


products,


n.e.c......


goods industries.....



industries:


transportation.....


oods industries,


metals,


Blast furnaces


Fabricated
Machinery,


Engines


total...... ...... ..... ...
, steel mills.............
products.,.**, ........ ...


electrical,


total.......


and turbines.............. ..... .


Construction,


mining,


and material


handling equipment....*.................


Metalworking


General in

Electrical mi
Electrical
equipment
Household


dustrial

achinery,
transmis
and indu
appliance


machinery ........-...

total ... .........
ssion and distribution
tstrial apparatus.....


s, inc


luding


and TV t..... ..........................
Communication equipment...........---...


Transportation
Aircraft, mi


All other


equipment,


ssiles,


durable


and parts...... ....


goods industries.,......


Shipments


56,297
48,476

31,008
1,461

5,015
2,340
2,675
3,180
294
5,575
398
601

669
318
518
3,782

720

696
1,095
7,821
4,043
3,065
1,187
2,987
25,289

8,643
1,865
436
1,763
2,290
960
4,239
1,416
2,165


56,352
48,249
31,013
4,745
2,188


56,904
48,719

31,794
1,491
5,144
2,422
2,722
3,286
307
5,572
446
607

673
340
546
3,900

729

776
1,122
8,185
4,559
2,912
1,133
3,083
25,110
8,416
1,851
423
1,841

2,285
1,004
4,178
1,416
2,065
1,542
4,360


56,821
49,244
31,699
5,300
2,571
3,437
5,635
620

690
287
526

4,097

724

777
1,310
7,577
2,490
5,653


65,434
48,186

31,742
1,478
5,016
2,329
2,687

3,135
294

5,769
679
508

695
340
528
3,873

736

783
1,063
8,248
4,781
2,735
1,212
3,011
24,692
8,259
1,786
442
1,761

2,263
954
4,120
1,397
2,138
1,424
4,285


56,127
47,989

30,934
1,452

4,851
2,200
2,651
3,136
259
5,315
411
453

633
320
491
3,891

716

762
1,108
8,138
4,439
3,012
1,204
2,947
25,193
8,633
1,839
438
1,837
2,277
956
4,025
1,345
2,153


58,383
49,943
32,361

1,604
5,024
2,316
2,708
3,371
297
5,469
413
578

657
339
541
4,064

738

868
1,114
8,440
4,973
2,773
1,176
3,213
26,022
8,677
1,920
414
1,990
2,350
1,011
4,230
1,403
2,082

1,594
4,685


52,495
44,563
28,831

1,325
4,051
1,698
2,353
2,852
261
4,968
448
339

656
343
414
3,692

715

740
1,005
7,932
4,665
2,680
1,043
2,968
23,664

7,997
1,650
420
1,863

2,077
874
3,923
1,284
1,910
1,239
4,235


Total inventories


95,365
79,963

63,114
2,473

7,983
4,247
3,736
6,553
681
13,112
977
933

2,223
1,097
1,090
9,312

1,915

2,124
2,752
15,402
4,047
9,456
2,42
5,859
32,251
7,245
735
2,233
3,443
2,630
1,039
6,597
2,267
2,194


94,916
79,558
62,631
2,449

7,925
4,234
3,691
6,478
685
12,909
945
938

2,187
1,094
1,054
9,307

1,929

2,129
2,719
15,358
4,024
9,419
2,427
5,778
32,285
7,292
777
2,240
3,524


94,211
79,082
62,036
2,458

7,937
4,255
3,682
6,434
683
12,697
931
950

2,168
1,064
1,057
9,203

1,904

2,132
2,708
15,129
3,944
9,299
2,416
5,762
32,175
7,399
794
2,225
3,564

2,513
965
6,467
2,236
2,108
1,890
6,009


94,698
79,189
62,606

2,379

8,054
4,362
3,692
6,347
619

13,046
976
911

2,219
1,100
1,082
9,151

1,898

2,014
2,743
15,509
4,161
9,445
2,406
5,714
32,092
7,590
778
2,200
3,338

2,586
1,024
6,489
2,242
2,204

1,837
5,848


New orders Unfilled orders


56,829
48,944
32,135
5,313
2,592
3,340
6,152
869

736
338
544
3,688

740

819
842
7,885
2,216

5,757


55,383
47,446
30,154
4,701
2,094

3,071
5,307
437

624
318
473

3,676

737

622
1,056
7,937
2,718
5,462


57,850
49,793
31,853
5,120
2,397

3,373

5,449
457

677
284
509
4,023

691

871
1,163
8,057
2,586
5,831


52,136
44,712
28,471
4,395
1,999
3,034

4,895
445

654
303
439

3,459

661

690
821
7,424
2,138
5,264


89,399
57,425
86,305
7,902
4,263

10,685
16,960
4,661

2,176
1,853
1,625
13,067

3,356

572
5,269
31,974
24,667
5,717


89,333
57,644
86,288
8,172
4,415
10,588

16,938
4,659

2,155
1,834
1,638
13,133

3,361

641
5,228
31,689
24,535
5,768


89,411
57,114
86,377
8,015
4,267
10,436

16,875
4,485

2,138
1,887
1,658
12,935

3,364

641
5,041
32,297
24,957
5,819


88,678
56,411
85,635
7,462
3,837

10,389
16,841
4,675

2,104
1,842
1,597
13,112

3,338

554
5,385
32,267
24,907
5,564


94,118
78,657
62,173
2,343

7,986
4,323
3,663
6,332
633
12,790
949
893

2,152
1,106
1,044
9,168

3,913

2,028
2,716
15,461
4,181
9,390
2,427
5,666
31,945
7,493
748
2,222
3,383

2,541
1,001
6,379
2,207
2,183
1,855
5,889


89,415
56,947
86,410
7,610
3,943
10,453

16,849
4,651

2,112
1,844
1,615
13,326

3,319

692
5,437
32,468
25,201
5,704


87,382
73,427
56,497
2,071
7,572
4,118
3,454
6,031
613
11,162
853
930

1,918
1,014
901
8,379

1,728

1,890
2,521
13,955
4,339
8,048
2,109
5,218
30,885
7,786
737
2,198
3,322

2,313
924
5,788
1,950
2,146
1,830
5,502


85,003
51,765
81,951
5,817
2,748
9,445

14,494
4,030

1,632
1,748
1,408
13,116

3,316

509
5,559
33,238
26,857
5,841


prim


metal


and


radio


Motor


and
urabl


metal
except


radio


It


1


I


I













Table 2.--VALUE


OF MANUFACTURERS '


Millions


AND ORDERS,

of dollars)


SERIES


*During
figures on


1968 manufacturers in ordnance, communic
shipments, orders, and total inventories


nations, ai


rcraft


and aircraft parts, and


of work performed for the Department


shipbuildi


of Defense.


ng industries began to provide aggregate
The results of these reports are included


in these new defense series.


Since there is no historic data available to develop separate seasonal factors for these reporters, the data have


been seasonally


adjusted using the factors


of these industries.


liminary.


trading-day and calendar-month variations; unfilled orders and inventories as of
the separate industry categories as follows:


end of month.


'Shipments and new orders adjusted for
2The supplementary series are regroupings


Consumer durable goods industries

Machinery and equipment industries


- Household furniture;


kitchen articles and pottery;


cutlery,


handtools,


and hardware; household


appliances; ophthalmic goods, watches, and clocks; and miscellaneous personal goods.
- Machinery, except electrical (excluding farm machinery and equipment and machine shops), electrical
machinery excluding household appliances, communication equipment and electronic components),
shipbuilding and repairing, and railroad and street car equipment.


Defense


products


industries


series )


- Based on reports for companies classified in the communication equipment, complete


aircraft,


aircraft


parts, and ordnance industries.


(Thus, this series includes significant amounts


of nondefense work in these industries and omits defense work performed in the shipbuilding
industry.)


Defense


products


,new series)


- Based


on separate reports on defense work


filed by large defense contractors in the


following industries:


ordnance, communications,


complete


aircraft, aircraft parts, and shipbuilding.


the old series in that it includes defense activity in shipbuilding


Thus, it differs


from


and excludes nondefense work in


ordnance, communications,


complete


aircraft, and aircraft parts.


Defense-Oriented Indus


The data are comparable to those pub-
tries, for the specified industries.













Table 3.--MANUFACTURERS'


(Based on seasonally


adjusted


Item and industry


Shipments:
All manufacturing


group


industries.


Durable goods industries,


Nondurable


goods industries,


Total inventories:
All manufacturing
New orders:
All manufacturing


total.


total.


industries.


industries.


Durable goods industries, total


Nondurable


goods industries


total.


Unfilled orders:


Durable


goods industries


total.


Month-to-month,1969


-1.1


+0.5


+0.8


+0.7


-0.1


+2. 2


+0.5


+0.5


Average


monthly


rates of change


3 months


+0.6


+0.6


-+0.9


+0.6


-0.3


+0.3


+0.9


+0.7


12 months


+0.6


+0.7


--+0.4


Average


+0.7


+1.2 2


1963-1968


Average
decline


-0.2


-0.7


Table 4.--RATIO


OF MANUFACTURERS'


INVENTORIES


TO SHIPMIIENTS


AND UNFILLED


ORDERS


TO SHIPMENTS,


BY INDUSTRY


(Based


on seasonally


adjusted


S- s Unfilled orders shipments ratio1
Inventories shipments ratio ,
months' backlog
Industry group
Nov. Oct. Sept. Nov. Nov. Oct. Sept. Nov
1969 1969 1969 1968 1969 1969r 1969 1968


All manufacturing industries, total.................. 1.69 1.67 1.67 1.67 2.56 2.53 2.57 2.67
Durable goods industries, total..... ... .... ........... 2.04 1.97 1.95 1.98 3.08 3.04 3.07 3.22
Stone, clay, and glass products.......................... 1.69 1.64 1.66 1.61 (NA) (NA) (NA) (NA)
Primary metals........................................... 1.59 1,54 1.58 1.80 1.58 1.59 1.60 1.47
Fabricated metals.......................... ............ .. 2.06 1.97 2.05 2.15 3.70 3.55 3.67 3.74
Machinery, except electrical............................. 2.35 2.32 2.20 2.16 3.04 3.04 2.93 2.81
Electrical machinery ................................... 2.46 2.39 2.38 2.38 3.46 3.37 3.34 3.64
Transportation equipment ................................ 1.97 1.88 1.83 1.83 5.96 5.92 6.23 6.70
Instruments and related products........................ 2.04 2.14 1.99 2.06 (NA) (NA) (NA) (NA1
Nondurable goods industries, total......................... 1.28 1.29 1.30 1.30 0.45 0.44 0.45 0.48

Food and kindred products............................. ....... 0.84 0.87 0.90 0.93 (X) (X) (X) fX
ob ordct5.12 5.30 5.03 5.34 (X) (x) (X) ,x
Tobacco products.......................................... 512 5.30 5.03 5.34 (X () (X)
Te1.95 1.91 2.02 1.92 (NA) (NA) (NA) (NA/
Textile mill products.................................... 95 191 2.02 1.92 (NA) (NA) (NA) (NA
Paper and allied products................................ 1.15 1.13 1.11 1.13 (NA) NA) (NA) (NA)
Chemicals and allied products............................ 1.56 1.56 1.57 1.42 (X) (X) (X) (X!
Petroleum and coal products............................ **1.01 1.04 0.99 I.11 (X) (X) (X) "X
Rubber and plastics products, n.e.c...................... 1.27 1.22 1.33 1.43 (X) (X) (X) (X)


(NA) Not available. Prelimin
1Excludes the following industries


vehicle assembly operations;
rubber and plastics products,


ary


Revised.


s with no unfilled


(X)
orders:


Not applicable.
Wooden containers;


glass containers;


metal


barrels


foods and related products; tobacco; apparel and related products; chemicals; petroleum and


and drums; mot
coal products;


data)


data)


GROUP














BY STAGE OF FABRICATION,B


(Millions


of dollars)


Without seasonal Without seasonal
Seasonally adjusted adjustment Seasonally adjusted adjustment
adjustment adjustment
Industry group --, --, --,-
Nov. Oct. Sept. Nov. Oct. Nov. Nov. Oct. Sept. Nov. Oct. Nov.
1969 1969 1969 1969 1969 1968 1969p 1969r 1969 1969p 1969r 1968

Total Materials and supplies

All manufacturing industries, total.. 95,365 94,916 94,211 94,698 94,118 87,382 29,011 29.152 28,860 29,030 29,167 28,204
Durable goods industries, total............ 63,114 62.631 62,036 62,606 62.173 56,497 17,139 17,104 17,023 17,192 17,296 16,730
Stone, clay, and glass products.......... 2,473 2.449 2,458 2,379 2,343 2,071 777 783 782 777 775 698
Primary metals........................... 7,983 7.925 7,937 8,054 7,986 7,572 2,759 2,802 2,831 2,903 2,917 2,924
Machinery (electrical and nonelectrical). 22,424 22.216 21,900 22,197 21,958 19,541 5,415 5,389 5,237 5,354 5,381 4,773
Transportation equipment................ 15,402 15,358 15,129 15,509 15,461 13,955 3,068 3.038 3.090 3,114 3,162 3,419
All other durable goods industries....... 14,832 14,683 14,612 14,467 14,425 13,358 5,120 5,092 5,083 5,044 5,061 4,916
Nondurable goods industries, total......... 32,251 32,285 32,175 32,092 31.945 30,885 11,872 12,048 11,837 11,838 11,871 11,474
Chemicals and allied products............ 6,597 6,526 6,467 6,489 6,379 5,788 2,325 2,269 2,232 2,299 2,236 2,053
Petroleum and coal products............. 2,194 2,156 2.108 2,204 2,183 2,146 501 504 474 492 495 450
Rubber and plastics products, n.e.c...... 1,842 1,879 1,890 1,837 1,855 1,830 604 599 600 599 603 584
All other nondurable goods Industries.... 21,618 21,724 21,710 21,562 21,528 21,121 8,442 8,676 8,531 8,448 8,537 8,387

Work in process Finished goods

All manufacturing industries, total.. 34,865 34,558 31,252 34,740 34,475 30,764 31,489 31,208 31,099 30,928 30,476 28,414
Durable goods industries, total............ 29,746 29,494 29,224 29,654 29.428 25.999 16,229 16.033 15,789 15,760 15,449 13,768
Stone, clay, and glass products.......... 413 405 396 380 373 318 1,283 1.261 1,280 1,222 1,195 1,055
Primary metals........................... 2,759 2,712 2,722 2,740 2,713 2,514 2,465 2,411 2,384 2,411 2,356 2,134
Machinery (electrical and nonelectrical). 10,717 10,542 10.495 10,692 10,522 9,366 6,292 6,285 6,168 6,151 6,055 5,402
Transportation equipment................. 10,772 10,749 10,543 10,836 10,753 9,201 1,562 1,571 1,496 1,559 1,546 1,335
All other durable goods industries....... 5,085 5,086 5.068 5,006 5,067 4,600 4,627 4,505 4,461 4,417 4,297 3,842
Nondurable goods industries, total......... 5,119 5,062 5,028 5,086 5,047 4,765 15,260 15,175 15,310 15,168 15,027 14,646
Chemicals and allied products............ 949 950 944 946 949 876 3,323 3,307 3,291 3,244 3,194 2,859
Petroleum and coal products.............. 504 492 492 499 502 454 1,189 1,160 1,142 1,213 1,186 1,242
Rubber and plastics products, n.e.c...... 303 323 323 303 325 336 935 957 967 935 927 910
All other nondurable goods industries.... 3,363 3,297 3,269 3,338 3,271 3,099 9,813 9,751 9,910 9,776 9,720 9,635

Preliminary.
Revised,


GROUP










Appendix


The following is a description of the survey and


definitions used.


me meaning
represent ar


These are provided to


of the


items


revisions fro


clarify


involved and do not
m those definitions


EXPLANATION OF TERMS

Value of Shipments--Shipments in the monthly
survey are equivalent to value of shipments as


previously employed.


reported


which


are received


receivable net selling values, f.o.b. plant, after


DESCRIPTION OF THE SURVEY


discounts


and allowances and excluding freight


charges and excise taxes.


Included in shipments


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-


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


lishments.


the ASM,


each


manufacturing


establishment provides data on employment, pay-


rolls,


shipments,


expenditures,
selected items.
information or


cost


of materials,


capital


and inventories as well as other
. The establishments do not provide


1 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 em-
ployees and a sample of the smaller ones. The


reporting
operations


unit typically


comprises


the entire


a company although many of the


larger diversified companies file separate divi-
sional type reports for their operations in different
industries.

Most of the reDorting units include mixed


A C0


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,


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 ship-


ments of the completed aircraft or ship.


In the


annual survey, therefore, the value of work done
during the year is requested rather than the value
of shipments.

The value of shipments figures developed from
the ASM contain duplication at the all manufac-
turing and industry group levels since the products
of some industries are used as materials by other


industries within the industry group.


With the ex-


ception of motor vehicles, it is not significant at


the 4-dig
industry


group


categories


level.


typically


Since


the M3-1


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


the monthly


reports are used to update the ASM


estimates by using a


link relative of matched


reports are requested to treat transfers from one
division of the cnmnanv to another ao if thov wore




UNIVERSITY OF FLORIDA

18 3 lih262h I 0 58941441it1iWII


New Orders Received and Unfilled Orders--
Orders as reported in the monthly survey are net
of cancellations during the month. They include
orders received during the period and also filled
during che 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


the monthly reports
annual establishment
: the month-to-month
in the industry are
-to-month shipments
industry.


Inventories--End-of-month inventories in the


monthly
end-of-y
responded
individual
cost if fe
different
(LIFO, F
inventori
not prec
inventori


SU1


- 'Ta,,


are identical


in definition to the


ear inventories in the ASM. In the ASM,
nts are asked to report inventories of
1 establishments at approximate current
asible; otherwise, "at book values." Since
methods of inventory valuation are used
IFO, etc.), the definition of the aggregate
es for establishments in an industry is
:ise. The figures on the change in
es from one period to the next are of


greater significance than the actual aggregates.


Inventories


are reported


cation: (a) finished gc
and (c) materials, si
inventories. In using
fabrication at the all r
industry levels as well
durable goods sectors,
finished product of onc
material for another in
fabrication. Insofar as
goods sectors and also
contain industries wit
processing, the same t
included under different


)ods; (b
applies,


r stage of fabri-
work in process;
fuel, and other


inventories by


stage of


manufacturing and 2-digit
as for the durable and non-


it should
e industry
dustry at th
the durable


the
:h
:ype


!-digit i
success
of corn


t inventory


be noted that a
may be a raw
e next stage of
and nondurable
industry groups
ive stages of
modity may be


cate


gories in


the aggregate statistics.


inose supported Dy mnaming 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 agree-
ment on the amount; otherwise, only the funds
specifically authorized to be expended are in-
cluded. 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 review
consistency,
directly in th
derived frorr
unfilled orde:
procedure is
as well as fori
unfilled order


ently.
from


eason


wing
only
ie ta
ithe
rs fo
folio
Sthe
s ar
ally


seasonally


individual company reports for
unfilled orders are estimated
bulated totals. New orders are
shipments plus net change in
r each industry category. This
wed for seasonally adjusted data
unadjusted data. Shipments and
e seasonally adjusted independ-
adjusted new orders are derived
adjusted shipments and sea-


sonally adjusted unfilled orders.


uawni-x


Current Industrial Reports Series M3-1


definition of shipments
differs from that used in
reports, it is assumed
changes in company sa
representative of the m'
of the establishments in 1