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NOTICE

Revised historical data for Manufacturers’ Shipments,
Inventories, and Orders will be issued in mid-June. The

primary purpose of the revision is to benchmark the data to the
1991 Annual Survey of Manufactures. Less significant revisions
will reflect the addition of data received too late to include
in the monthly press releases, corrections for misclassified
reports, and updating the trading day adjustment methodology.
Revisions related to benchmarking affect all industry categories.

Any questions regarding this announcement can be answered by
calling Steve Andrews on (301) 763-2502.



UNITED STATES DEPARTMENT OF ECONOMICS

COMMERCE | oskiio.
N EWS WASHINGTON, D.C. 20230 menCENSUS

Bureau of the Census For Release 8:30 A.M. EDT
Steve Andrews or Kathy Menth May 26, 1993
(301) 763-2502 or (301) 763-2575 CB93-102
M3-1(93)-4

ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS AND ORDERS
April 1993
(All figures in text below are in seasonally adjusted current dollars)

New Orders

New orders for manufactured durable goods in April increased $0.1 billion to $130.3 billion, the Department of
Commerce, Bureau of the Census reported today. This follows a 3.7 percent decrease in March and a 2.3 percent increase
in February. Year to date, new orders for 1993 are 10.4 percent above the same period a year ago.

Electronic and other electrical equipment had the largest increase, up $1.1 billion or 5.9 percent to $19.2 billion,
primarily due to electronic components and communications equipment. Instruments and related products also had a large
increase. Industrial machinery and equipment had the largest decrease, down $1.1 billion or 4.8 percent to $22.6 billion,
primarily due to computers and office equipment and engines and turbines. This follows a 1.0 percent increase in March.
Primary metals decreased $0.8 billion or 6.8 percent to $11.4 billion, primarily due to blast furnaces and steel mills.
Transportation equipment declined 0.1 percent to $32.4 billion, as declines in motor vehicles and parts and shipbuilding and
tanks more than offset an increase in aircraft and parts.

Shipments

Shipments of durable goods in April decreased $2.6 billion or 1.9 percent to $132.8 billion, the first decrease since
January. This follows a 1.0 percent increase in March. Except for stone, clay, and glass products, all major groups declined.
Industrial machinery and equipment had the largest decrease, down $1.4 billion or 5.8 percent to $22.7 billion, primarily due
to computer and office equipment. This follows a 4.4 percent increase in March. Transportation equipment decreased $0.8
billion or 2.1 percent to $35.6 billion, with declines in all industries.

Unfilled Orders

Unfilled orders for durable goods in April decreased $2.5 billion or 0.6 percent to $444.8 billion, the lowest level since
November 1988. This is the second consecutive monthly decrease. Transportation equipment had the largest decrease, down
$3.1 billion or 13 percent to $235.2 billion, primarily due to aircraft and parts and shipbuilding and tanks. This is the fifth
decline in the last six months. Excluding transportation equipment, unfilled orders increased $0.6 billion. Electronic and other
electrical equipment increased $0.3 billion or 0.7 percent to {28 billion, following a 2.2 percent decline in March. Instruments
and related products also had a large increase.

Capital Goods Industries

Defense - New orders were up $0.2 billion or 2.9 percent to $7.1 billion, following a 8.9 percent increase in March.
Shipments decreased $0.3 billion or 3.4 percent to $7.6 billion, following a 0.3 percent decrease in March. Unfilled orders,
down for the third month in a row, decreased $0.4 billion or 0.4 percent to $125.8 billion, the lowest level since February 1984.

Nondefense - New orders increased $0.4 billion or 1.2 percent to $31.2 billion, following a 10.8 percent decrease in
March. Shipments were down $1.6 billion or 4.6 percent to $32.9 billion, following a 4.5 percent increase in March. Unfilled
orders, down $1.7 billion or 0.8 percent to $213.1 billion, have declined in twelve of the last thirteen months and are at the
lowest level since November 1989. Excluding aircraft and parts, new orders decreased $0.5 billion or 1.7 percent, shipments
decreased $1.5 billion or 5.3 percent, and unfilled orders increased $0.6 billion or 0.9 percent.

(SEE BACK PAGE FOR UPCOMING REVISIONS)

‘This report presents advance information on two key business indicators: durable goods manufacturers’ shipments and orders. Revised and more detailed
estimates plus nondurable goods and inventory data will be published June 4, 1993. The advance report on durable goods for May is scheduled for June
23, 1993. ‘This report is available on the day of issue through the Department of Commerce's online Economic Bulletin Board (N-8-1) (202-482-3870) and



Table 1. DURABLE GOODS MANUFACTURERS’ SHIPMENTS AND ORDERS
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted’
Item Monthly Percent Change Monthly Percent
change
Apr, Mar. Feb. | Mar; | Feb- | —Jan~ Apr Mar. Ag;
19833 1993 1993 | Apr? | Mar’ | — Feb. 1993* 193° 1993 | Apr.93/92
DURABLE GOODS
Total :
Shipments. 132,838 | 135,410 | 134,104 ag] +10] +28] 132,769 | 144,073 | 123,510 475
New orders’: 130,300 | 130,246 | 135/209 0.0 -3.7| +23 | 130,750 | 138:705 | 122/551 467
Unfilled ordei 444,775 | 447/313 | 432,477 06 si] +02 | 447:122 | 4a914i | 475,894 ~6.0
Excluding defense :
Shipments 125,270 | 127,872 | 126,244 +l +11 125,692 | 135,950 | 115,613 48.7
orders ©1212 2 123,179 | 123323 | 128/849 “011 43) 445 | 124727 | 131115 | 115,782 477
Vatied Siders 2222222! 318990 | 3217081 | 325,330 -13 320,612 | 321/577 | 336,637 48
With unfilled orders :
Shipments. : 108,634 | 106,626 -22| +19] +23] 104215 | 115,825] 99,421 +48
New orders 103,470 | 107,731 | +03 40) 41:7 | 102; 110/547 | 98,462 43:8
Primary metals :
Shipments. - 11,392 | L416] 11,418 + oo} +27] 11643] 11,723] 11,372 +24
New orders.) | 11374 | 12210 | 12307 68 08) -1:6| 11689 | 12'432 | 11263, +38
Untitled orders’ || 23486 | 23,504 | 22:710 Ol} 435] +41 | 23970 | 23192 213540 | +113
Ingustrial machinery and equipment:
ts. 22,658 | 24,047 | 23,036 +0. 22,138 | 27,412 | 20116 | +101
22611 | 23,747 | 231521 410] 418] 23% 26500} 19,720] +116
515134} Siigt | $1,481 0} 51067} 51176 | 52897 35
Electronic and other
electrical equipment :
Shipments... .. 18,890 | 19,055 | 18,660 0.9 +55] 18,079 | 20,080 | 16,508 49.5
New orders 195169 | 18102 | 18044] +59] +03 -44 | 18883 | 18,706 | 16,801 | +124
Unfilled orders 42.784 | 42505 | 43,458. | +0.7 22) 14] 43;449 |  42;645 | 42,404 425
‘Transportation equipment :
pme vee 35,570 | 36,321 | 36,218 2.1 403] 42 36,883 | 38,705 | 33,610 +97
NeWrorders.”” 32441 | 32,477 | 36,427 O1 | -108] +96 | 33573 | 351537 | 33,839 -08
Unfilled orders : 235,190 | 238,319 | 242/163 13 -16| 40.1 | 236,065 | 239/375 | 264972 -109
CAPITAL GOODS INDUSTRIES!
Total:
Shipments . . 40,479 | 42,332 | 40,857 44] 436] +12] 38628] 46872] 37,659 42.6
New orders 38321 | 37750 | 40.927 | +15 78) +45 | 351855 | 425171 | 35,666 40.5
Unfilled orders 338,922 | 3413080 | 345,662 06 +13 0.0 | 330584 | 342/357 | 372/013 87
Nondefense :
Shipments 32,911 | 34,494 -46| +45] +09] 31,551 | 38,749 | 29,762 +6.0
New orders. -- 317200 | 30/827 | 34567 | +12 | -108] +139 | _29'832 | 34491 | 28/897 43.2
Unfilled orders’: Dol) 2137137 | 214gag | 218; -08 -17| 40.7 | 213,074 | 214:793 | 232756 85
Excluding aircraft and parts:
Shipments 27,341 | 28,882 | 27,644 53 | +45] +18] 25,998] 32,426] 23,740 49.5
New orders - silicic} 27967 | 281459 | 28/306 17 | +05] +28] 26616} 31412] 23312] +142
Unfilled orders sie] 73,646 | 73020 | 73443. | +09 06] +0.9| 73,583 | 72'965 | 75,050 20
Defense :
Shipments 7,568 7,838 7,860 42.5 7,077 8,123 7,897
New orders’ | || T7121 6'923 6360} +29 277 6,023 7,680 6.769
Unfilled orders’: 12,785 | 126,232 | 127,147 04 “12 | 126,10 | 127,564 | 139,257

(NA) Not available. * Revised,

* Shipments and new orders are the tals forthe period and are adjusted for trading-day and calendar-month variations; unfilled orders are as of the end of the period and are not adjusted for trading-day or calendar-momth variations

2 Based on advance sample

The Capital Goods Industries include Noniefense = odnance and acess, scam egies and tutines, internal combustion engines, contruction mining an material handing equipment, metalworking machinery, speci industry
‘machinery, general industrial machinery, computer and office equ ‘efigeration, heating and service industry machinery, electrical ion and ion equipm industrial apparatus,

ipmen.
Complee aie, mae, an space Wohin aera msi, and space YEN coges nd party shige an an compere, alloal eqpmens and seach am vipa equip
Defense capital goods include : ordnance, ‘communication equipment, aircraft, missles, space vehicles, and parts, ships, tanks and tank components, search and navigation equipment.

Table 2. AVERAGE REVISIONS TO PREVIOUSLY PUBLISHED MONTHLY PERCENT CHANGES
(Based on seasonally adjusted data)

Shipments ‘New Orders Unfilled Orders

Industry Year ago ‘Apr. | Apr. 1992-| Year ago ‘Apr. | Apr. 1992-| _ Year ago ‘Apr. | Apr. 1992-

Apr. 1992 | 1988-1992 | Mar. 1993 | Apr. 1992] 1988-1992 | Mar. 1993| Apr. 1992] 1988-1992 | Mar. 1993

Durable goods ..... - 01 Ol 02 01 03 04 0.0 01 01

Primary metals... 0.1. Ol 03 04 03 07 07 02 03 03

Industrial machinery and equipment . 04 07 06 03 16 08 00 03 02
Electronic and other

electrical equipment ...... 05 05s 03 07 05 09 Ol 02 04

Transportation equipment | 2) 121) 00 02 04 03 05 06 Ol 0.0 00

Nondefense capital goods ....... 00 07 06 02 10 14 0.0 0.0 ou

Defense capital 9 : 01 05 05 02 20 21 on Ol ou

Note: The revisions are the differences between the month-to-month percent changes of the advance and final estimates. The monthly averages are the simple averages of the differences, without regard to
for the months specified


Total Durable Goods 3
New Orders and Shipments

Three Month Moving Averages
Billions of Dollars
150 150

New Orders
140 Po = Shipments |~| 140
130 130
120 120
110 110
100 L 1 L L L L L i L L L L L 100
Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr
Apr. 1991 - Apr. 1993
Nondefense Capital Goods
New Orders and Shipments

Three Month Moving Averages
Billions of Dollars
45 45

New Orders

40 ~~ - er eer ee eres Shipments |] 40

25 bo n L n r 1 n n 1 n m n Hl

25

Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr

Apr. 1991 - Apr. 1993

Note: All Charts based on seasonally
adjusted current dollars.