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FOR RELEASE AT 8:30 AM EDT, THURSDAY, JUNE 25, 2020

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS, 

INVENTORIES AND ORDERS MAY 2020

Release Number: CB 20-96 M3-1 (20)-05

Statement Regarding COVID-19 Impact: Due to recent events surrounding COVID-19, many businesses are 

operating on a limited capacity or have ceased operations completely. The Census Bureau has monitored 

response and data quality and determined estimates in this release meet publication standards. For more 

information on the compilation of this month's reports, see < M3 COVID-19 FAQs>.

June 25, 2020 — The U.S. Census Bureau announces the May advance report on durable goods 

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in May increased $26.6 billion or 15.8 percent to $194.4

billion, the U.S. Census Bureau announced today. This increase, up following two consecutive monthly 

decreases, followed an 18.1 percent April decrease. Excluding transportation, new orders increased 4.0

percent. Excluding defense, new orders increased 15.5 percent. Transportation equipment, also up 

following two consecutive monthly decreases, led the increase, $20.9 billion or 80.7 percent to $46.9

billion.

DURABLE GOODS – NEW ORDERS

MAY 2020 $194.4 billion +15.8%°

APRIL 2020

(revised) $167.8 billion -18.1%°

Next release: July 27, 2020

Data adjusted for seasonal variation but not for price changes.

°Statistical significance is not measurable for this survey. The Manufacturers' Shipments, 

Inventories, and Orders estimates are not based on a probability sample, so the sampling 

error of these estimates cannot be measured nor can the confidence intervals be computed.

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories and Orders, June 25, 

2020.

May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20

% Change -1.5% 0.1% 2.5% 0.5% -0.9% -0.1% -2.6% 2.8% -0.2% 2.0% -16.7% -18.1% 15.8%

-19.0%

-18.0%

-17.0%

-16.0%

-15.0%

-14.0%

-13.0%

-12.0%

-11.0%

-10.0%

-9.0%

-8.0%

-7.0%

-6.0%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%

16.0%

DURABLE GOODS NEW ORDERS 2019-2020

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, 

June 25, 2020.
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Shipments

Shipments of manufactured durable goods in May, up following two consecutive monthly decreases, 

increased $8.4 billion or 4.4 percent to $198.5 billion. This followed an 18.6 percent April decrease. 

Transportation equipment, also up following two consecutive monthly decreases, led the increase, $5.0

billion or 12.1 percent to $46.5 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in May, up following two consecutive monthly decreases,

increased $0.8 billion or 0.1 percent to $1,108.6 billion. This followed a 1.5 percent April decrease. 

Transportation equipment, also up following two consecutive monthly decreases, led the increase, $0.3

billion or virtually unchanged to $760.0 billion.

Inventories

Inventories of manufactured durable goods in May, up three consecutive months, increased $0.3 billion or 

0.1 percent to $425.1 billion. This followed a virtually unchanged April increase. Transportation 

equipment, up twenty-two of the last twenty-three months, drove the increase, $1.3 billion or 0.9 percent 

to $144.1 billion. 

Capital Goods

Nondefense new orders for capital goods in May increased $13.4 billion or 27.1 percent to $62.8 billion. 

Shipments increased $0.3 billion or 0.4 percent to $63.5 billion. Unfilled orders decreased $0.7 billion or 

0.1 percent to $624.0 billion. Inventories increased $1.1 billion or 0.6 percent to $191.2 billion. Defense 

new orders for capital goods in May increased $2.2 billion or 19.9 percent to $13.3 billion. Shipments

decreased less than $0.1 billion or 0.1 percent to $12.4 billion. Unfilled orders increased $0.9 billion or 0.5 

percent to $180.0 billion. Inventories decreased $0.1 billion or 0.4 percent to $21.0 billion.

Revised April Data

Revised seasonally adjusted April figures for all manufacturing industries were: new orders, $382.5 billion 

(revised from $384.3 billion); shipments, $404.8 billion (revised from $406.8 billion); unfilled orders, 

$1,107.8 billion (revised from $1,107.6 billion) and total inventories, $685.8 billion (revised from $686.5

billion).

Revised and more detailed estimates, plus nondurable goods data, will be published on July 2, 2020, at

10:00 a.m. EDT. The Advance Report on durable goods for June is scheduled for release on July 27, 2020 at

8:30 a.m. EDT. View the full schedule in the Economic Briefing Room: <www.census.gov/economicindicators/> The full text and tables of this release can be found at www.census.gov/m3>.
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EXPLANATORY NOTES

Figures in text are adjusted for seasonality, but not for inflation. Figures on new and unfilled orders 

exclude data for semiconductor manufacturing. 

“Virtually unchanged” indicates that the change is less than 0.05 percent for a percent increase or 

decrease.

Description of the survey

This report is compiled from results of the U.S. Census Bureau’s Manufacturers’ Shipments, Inventories, 

and Orders (M3) survey, which is a voluntary survey authorized by Title 13 of the United States Code. This 

survey provides statistics on a calendar-month basis for manufacturers' value of shipments, new orders 

(net of cancellations), end-of-month order backlog (unfilled orders), end-of-month total inventory (at 

current cost or market value), and inventories by stage of fabrication (materials and supplies, work-inprocess, and finished goods). Data published from the M3 survey are based on a panel of approximately 

5,000 reporting units that represent approximately 3,100 companies and provide an indication of monthto-month change for the Manufacturing Sector. These reporting units may be divisions of diversified large 

companies, large homogenous companies, or single-unit manufacturers in 92 industry categories, which 

are combined into 65 publication levels due to the small monthly panel size. The survey methodology 

assumes that the month-to-month changes of the total operations of the reporting units in the M3 panel 

effectively represent the month-to-month movements of all establishments that make up the category. 

The companies for which shipments data are currently reported or imputed in the M3 survey represent 

approximately 64 percent of the total value of shipments for manufacturing establishments in the 2012 

Economic Census, and these companies include almost two-thirds of the manufacturing companies with 

$500 million or more in shipments in the 2012 Economic Census. The companies for which shipments data 

are currently reported in the M3 survey represent approximately 57 percent of the total value of 

shipments for manufacturing establishments in the 2012 Economic Census. Statistics based on the M3 

panel differ from the results that would be obtained from a complete enumeration of all manufacturing 

companies. The M3 panel is not based on a probability sample; therefore, the sampling errors that are 

normally provided with sample surveys cannot be measured. Nonsampling errors are attributable to many 

sources. The use of company or divisional reports to estimate the monthly change for establishments is 

one source of nonsampling error. The use of primarily large companies to represent the month-to-month 

movement of all companies is another potential source. Any corrections will be published in the full 

report. Corrections received after the full report will be released in the next month’s advance report. Any 

revisions made later than two months will be reflected in the annual benchmark publication. Additional 
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survey documentation can be found on our web site: 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.

BENCHMARK NOTICE

Revised historical data from the Manufacturers’ Shipments, Inventories, and Orders (M3) Survey were

issued on May 15, 2020. These revisions result from

• benchmarking the M3 shipments and inventories data to the 2017 Economic Census data on a 

2017 NAICS basis;

• incorporating the unfilled orders to shipments ratios obtained for 2017 and 2016 from the 

Manufacturers’ Unfilled Orders (M3UFO) Survey by applying these ratios to the respective 2017 

Economic Census data and 2016 ASM shipments data;

• adjusting the new orders data to be consistent with the benchmarked shipments and unfilled 

orders data;

• correcting the seasonal adjusted new order data derived from the monthly estimate of 

shipments plus the change in unfilled orders between the current and prior period for January 

2002;

• correcting monthly data for late receipts, reclassifications of reported data, and revisions to 

previously reported data;

• updating the seasonally adjusted data based on the results of benchmarking and the recent 

annual review of the seasonal adjustment models. 

These revisions spanned the seasonally adjusted data for January 2007 through March 2020 and the data 

not seasonally adjusted for January 2012 through March 2020. An updated Press Release contains revised 

monthly tables for January 2020 through March 2020. Please call M3 staff on (301) 763-4832 with any 

questions.

RESOURCES

API

The Census Bureau’s application programming interface (API) lets developers create custom apps to reach 

new users and makes key demographic, socio-economic and housing statistics more accessible than ever 

before.

<www.census.gov/developers/>
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FRED Mobile App

Receive the latest updates on the nation’s key economic indicators by downloading 

the FRED App <https://fred.stlouisfed.org/fred-mobile/> for both Apple and 

Android devices. FRED, the signature database of the Federal Reserve Bank of St. 

Louis, now incorporates the Census Bureau’s 13 economic indicators.

###
Table 1. Durable Goods Manufacturers' Shipments and New Orders 1

[Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.]

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly Year to Date

Item Percent

May Apr Mar Apr - Mar - Feb - May Apr May Change

2020 22020 r

2020 May 2

Apr r Mar 2020 22020 r

2019 2020 2019 2020/2019

DURABLE GOODS

 Total:

 Shipments................................ 198,490 190,117 233,588 4.4 -18.6 -5.5 198,012 188,959 256,822 1,097,501 1,237,187 -11.3

 New Orders4.............................. 194,419 167,831 205,020 15.8 -18.1 -16.7 187,589 166,373 238,659 1,043,342 1,208,121 -13.6

 Excluding transportation:

 Shipments................................ 151,955 148,590 160,124 2.3 -7.2 -1.4 151,403 147,529 168,133 770,881 800,506 -3.7

 New Orders4.............................. 147,569 141,911 154,618 4.0 -8.2 -1.8 147,204 142,489 162,511 755,778 787,489 -4.0

 Excluding defense:

 Shipments................................ 184,380 175,848 219,890 4.9 -20.0 -5.7 184,264 175,565 242,639 1,029,403 1,169,596 -12.0

 New Orders4.............................. 179,572 155,495 187,630 15.5 -17.1 -17.5 175,990 155,616 226,236 970,813 1,139,596 -14.8

 Manufacturing with unfilled orders:

 Shipments................................ 147,643 144,134 168,051 2.4 -14.2 -2.5 147,416 142,609 179,069 791,940 861,492 -8.1

 New Orders.............................. 148,444 126,721 144,175 17.1 -12.1 -18.1 141,215 124,318 165,216 760,408 855,435 -11.1

 Primary metals:

 Shipments................................ 16,960 16,683 18,963 1.7 -12.0 -2.8 17,293 17,406 21,280 93,832 104,450 -10.2

 New Orders.............................. 17,249 15,817 18,451 9.1 -14.3 -4.8 17,212 16,433 20,726 93,254 104,906 -11.1

 Fabricated metal products:

 Shipments................................ 28,204 27,405 30,848 2.9 -11.2 -3.2 28,634 27,690 33,242 148,552 156,942 -5.3

 New Orders.............................. 28,139 26,199 30,341 7.4 -13.7 -3.5 28,983 26,792 33,498 149,704 160,019 -6.4

 Machinery:

 Shipments................................ 28,834 28,350 30,824 1.7 -8.0 -1.7 29,026 28,415 33,913 150,347 160,794 -6.5

 New Orders.............................. 28,832 28,517 30,991 1.1 -8.0 -1.7 28,745 28,863 32,737 153,390 162,868 -5.8

 Computers and electronic products4:

 Shipments................................ 28,752 28,614 28,465 0.5 0.5 -0.7 26,991 26,138 27,142 135,262 134,055 0.9

 New Orders.............................. 23,950 23,785 23,792 0.7 0.0 -0.5 22,403 22,094 22,611 114,135 113,359 0.7

 Computers and related products:

 Shipments................................ 1,839 1,768 1,763 4.0 0.3 -2.5 1,645 1,450 1,532 8,042 7,470 7.7

 New Orders.............................. 1,807 1,734 1,734 4.2 0.0 -3.9 1,613 1,416 1,502 7,939 7,458 6.4

 

 Communications equipment:

 Shipments................................ 3,789 3,751 3,747 1.0 0.1 2.7 3,433 3,405 3,323 17,182 16,356 5.1

 New Orders.............................. 3,767 3,715 3,639 1.4 2.1 0.6 3,241 3,458 3,226 17,327 16,732 3.6

 Electrical equipment, appliances, 

 and components: 

 Shipments................................ 10,401 10,030 11,158 3.7 -10.1 0.4 10,265 9,845 11,172 52,022 52,730 -1.3

 New Orders.............................. 10,560 10,163 11,128 3.9 -8.7 -0.7 10,481 10,168 11,309 53,434 53,825 -0.7

 Transportation equipment: 

 Shipments................................ 46,535 41,527 73,464 12.1 -43.5 -13.4 46,609 41,430 88,689 326,620 436,681 -25.2

 New Orders.............................. 46,850 25,920 50,402 80.7 -48.6 -43.2 40,385 23,884 76,148 287,564 420,632 -31.6

 Motor vehicles and parts:

 Shipments................................ 28,286 22,320 47,955 26.7 -53.5 -19.1 28,430 23,275 62,425 218,174 305,669 -28.6

 New Orders.............................. 28,209 22,121 47,796 27.5 -53.7 -19.5 28,292 22,638 62,214 218,171 305,450 -28.6

 

 Nondefense aircraft and parts5:

 Shipments................................ 3,451 4,350 10,733 -20.7 -59.5 12.2 3,350 3,807 10,684 34,172 58,834 -41.9

 New Orders.............................. 3,072 -8,601 -16,052 (NA) (NA) -284.2 -851 -9,938 1,288 -9,531 43,974 -121.7

 Defense aircraft and parts:

 Shipments................................ 3,989 4,213 3,833 -5.3 9.9 -12.8 3,887 3,704 4,835 19,608 22,720 -13.7

 New Orders.............................. 4,156 3,921 6,026 6.0 -34.9 35.8 2,412 3,516 2,995 19,102 22,414 -14.8

 All other durable goods: 

 Shipments................................ 38,804 37,508 39,866 3.5 -5.9 -0.2 39,194 38,035 41,384 190,866 191,535 -0.3

 New Orders.............................. 38,839 37,430 39,915 3.8 -6.2 -0.1 39,380 38,139 41,630 191,861 192,512 -0.3

 Capital goods3:

 Shipments................................ 75,930 75,660 84,915 0.4 -10.9 0.3 74,174 72,260 86,273 391,892 421,586 -7.0

 New Orders.............................. 76,165 60,553 62,023 25.8 -2.4 -29.8 68,777 57,238 75,220 358,649 414,867 -13.6

 Nondefense capital goods:

 Shipments................................ 63,500 63,223 72,923 0.4 -13.3 0.8 61,932 60,460 73,852 332,109 362,643 -8.4

 New Orders.............................. 62,841 49,441 46,151 27.1 7.1 -35.4 57,739 47,450 63,544 292,197 353,913 -17.4

 Excluding aircraft:

 Shipments........................... 62,371 61,252 65,298 1.8 -6.2 -1.3 60,771 58,897 67,120 312,787 323,742 -3.4

 New Orders.......................... 62,729 61,342 65,608 2.3 -6.5 -1.3 60,991 59,675 65,239 319,347 327,678 -2.5

 Defense capital goods:

 Shipments................................ 12,430 12,437 11,992 -0.1 3.7 -3.1 12,242 11,800 12,421 59,783 58,943 1.4

 New Orders.............................. 13,324 11,112 15,872 19.9 -30.0 -5.7 11,038 9,788 11,676 66,452 60,954 9.0

r Revised data due to late receipts and concurrent seasonal adjustment. 

1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of 

shipments and new orders include adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, 

as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 

2 Based on advance sample. Estimates of manufacturers' shipments, inventories, and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response and 

nonreporting. Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations, see http://www.census.gov/manufacturing/m3. 

3

 The Capital Goods Industries include Nondefense : small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry, and other machinery; photographic 

equipment; metalworking machinery; turbines and generators; other power transmission equipment; pumps and compressors; material handling equipment; all other machinery; electronic computers; computer storage devices; other computer 

peripheral equipment; communications equipment; search and navigation equipment; electromedical, measuring, and control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; 

railroad rolling stock; ships and boats; office and institutional furniture; and medical equipment and supplies. Defense Capital Goods include : small arms and ordnance, communications equipment, aircraft; missiles, space vehicles, and parts, ships and 

boats, and search and navigation equipment. 

4

 Estimates and percent changes of shipments and inventories for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals. Estimates and percent changes for new orders and unfilled 

orders exclude semiconductor industry data. 

5

 (NA) - New Orders month-to-month percent change is not provided for Nondefense aircraft and parts because the denominator has a negative value. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Advance Report, June 25, 2020. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 2. Durable Goods Manufacturers' Unfilled Orders and Total Inventories 1

[Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.]

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly Percent

Item Change

May Apr Mar Apr - Mar - Feb - May Apr May 2020/

2020 2 2020 r 2020 May 2Apr r Mar 2020 2 2020

 r

2019 2019

DURABLE GOODS

 Total:

 Unfilled Orders4......................... 1,108,567 1,107,766 1,125,179 0.1 -1.5 -2.1 1,110,610 1,116,811 1,158,203 -4.1

 Total Inventories....................... 425,080 424,828 424,651 0.1 0.0 0.5 427,444 426,528 416,222 2.7

 Excluding transportation:

 Unfilled Orders4......................... 348,571 348,085 349,891 0.1 -0.5 -0.2 352,649 352,626 354,006 -0.4

 Total Inventories....................... 281,002 282,047 282,055 -0.4 0.0 0.5 282,742 283,341 285,430 -0.9

 Excluding defense:

 Unfilled Orders4........................... 886,654 886,590 902,070 0.0 -1.7 -3.0 889,331 893,383 950,762 -6.5

 Total Inventories....................... 399,868 399,507 399,600 0.1 0.0 0.5 402,084 401,198 391,397 2.7

 Manufacturing with unfilled orders:

 Unfilled Orders......................... 1,108,567 1,107,766 1,125,179 0.1 -1.5 -2.1 1,110,610 1,116,811 1,158,203 -4.1

 Total Inventories....................... 346,946 346,715 346,421 0.1 0.1 0.6 349,369 348,323 337,942 3.4

 Primary metals:

 Unfilled Orders......................... 30,554 30,265 31,131 1.0 -2.8 -1.6 30,881 30,962 31,392 -1.6

 Total Inventories....................... 34,863 35,516 35,896 -1.8 -1.1 1.1 34,970 35,563 36,710 -4.7

 Fabricated metal products:

 Unfilled Orders......................... 72,316 72,381 73,587 -0.1 -1.6 -0.7 73,602 73,253 75,993 -3.1

 Total Inventories....................... 53,492 53,384 53,273 0.2 0.2 0.1 53,756 53,596 54,008 -0.5

 Machinery: 

 Unfilled Orders......................... 96,787 96,789 96,622 0.0 0.2 0.2 97,771 98,052 99,136 -1.4

 Total Inventories....................... 71,090 71,179 71,479 -0.1 -0.4 0.5 71,355 71,454 72,416 -1.5

 Computers and electronic products4:

 Unfilled Orders......................... 118,610 118,540 118,496 0.1 0.0 0.0 119,242 119,608 117,936 1.1

 Total Inventories....................... 44,225 44,209 43,995 0.0 0.5 0.6 44,861 44,499 44,387 1.1

 Computers and related products:

 Unfilled Orders......................... 1,905 1,937 1,971 -1.7 -1.7 -1.5 1,905 1,937 1,979 -3.7

 Total Inventories....................... 3,928 3,882 3,779 1.2 2.7 1.5 3,993 3,718 3,731 7.0

 

 Communications equipment:

 Unfilled Orders......................... 25,620 25,642 25,678 -0.1 -0.1 -0.4 25,734 25,926 25,814 -0.3

 Total Inventories....................... 5,226 5,246 5,222 -0.4 0.5 1.8 5,363 5,260 5,288 1.4

 Electrical equipment, appliances, 

 and components: 

 Unfilled Orders......................... 21,766 21,607 21,474 0.7 0.6 -0.1 22,195 21,979 20,901 6.2

 Total Inventories....................... 19,770 19,885 19,718 -0.6 0.8 -0.3 20,046 20,167 20,109 -0.3

 Transportation equipment: 

 Unfilled Orders......................... 759,996 759,681 775,288 0.0 -2.0 -2.9 757,961 764,185 804,197 -5.7

 Total Inventories....................... 144,078 142,781 142,596 0.9 0.1 0.6 144,702 143,187 130,792 10.6

 Motor vehicles and parts:

 Unfilled Orders......................... 20,347 20,424 20,623 -0.4 -1.0 -0.8 20,745 20,883 21,684 -4.3

 Total Inventories....................... 40,266 39,986 39,750 0.7 0.6 -0.4 40,120 39,932 39,223 2.3

 

 Nondefense Aircraft and parts:

 Unfilled Orders......................... 517,890 518,269 531,220 -0.1 -2.4 -4.8 516,271 520,472 575,444 -10.3

 Total Inventories....................... 74,812 73,668 73,993 1.6 -0.4 1.2 75,609 74,210 63,999 18.1

 Defense Aircraft and parts: 

 Unfilled Orders......................... 85,475 85,308 85,600 0.2 -0.3 2.6 84,531 86,006 79,872 5.8

 Total Inventories....................... 12,327 12,285 12,195 0.3 0.7 -0.2 12,422 12,327 11,969 3.8

 All other durable goods: 

 Unfilled Orders......................... 8,538 8,503 8,581 0.4 -0.9 0.6 8,958 8,772 8,648 3.6

 Total Inventories....................... 57,562 57,874 57,694 -0.5 0.3 0.5 57,754 58,062 57,800 -0.1

 Capital goods3:

 Unfilled Orders......................... 803,997 803,762 818,869 0.0 -1.8 -2.7 805,030 810,427 859,299 -6.3

 Total Inventories....................... 212,279 211,269 210,813 0.5 0.2 0.6 213,990 211,887 202,051 5.9

 Nondefense capital goods:

 Unfilled Orders......................... 624,015 624,674 638,456 -0.1 -2.2 -4.0 624,752 628,945 691,568 -9.7

 Total Inventories....................... 191,245 190,156 189,971 0.6 0.1 0.7 192,903 190,807 181,364 6.4

 Excluding aircraft: 

 Unfilled Orders.................... 216,635 216,277 216,187 0.2 0.0 0.1 218,694 218,474 217,351 0.6

 Total Inventories................... 128,991 128,929 128,366 0.0 0.4 0.6 129,927 129,085 128,771 0.9

 Defense capital goods:

 Unfilled Orders......................... 179,982 179,088 180,413 0.5 -0.7 2.2 180,278 181,482 167,731 7.5

 Total Inventories....................... 21,034 21,113 20,842 -0.4 1.3 -0.2 21,087 21,080 20,687 1.9

r Revised data due to late receipts and concurrent seasonal adjustment. 

1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and 

new orders include adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, 

based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 

2

 Based on advance sample. Estimates of manufacturers' shipments, inventories, and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors 

of coverage, response and nonreporting. Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations, 

see http://www.census.gov/manufacturing/m3. 

3

 The Capital Goods Industries include Nondefense : small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry, 

and other machinery; photographic equipment; metalworking machinery; turbines and generators; other power transmission equipment; pumps and compressors; material handling equipment; all other machinery; 

electronic computers; computer storage devices; other computer peripheral equipment; communications equipment; search and navigation equipment; electromedical, measuring, and control instruments; 

electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and boats; office and institutional furniture; and medical equipment and 

supplies. Defense Capital Goods include : small arms and ordnance, communications equipment, aircraft; missiles, space vehicles, and parts, ships and boats, and search and navigation equipment. 

4

 Estimates and percent changes of shipments and inventories for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals. Estimates and percent 

changes for new orders and unfilled orders exclude semiconductor industry data. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Advance Report, June 25, 2020. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.