Table 4. VALUE OF MANUFACTURERS’ INVENTORIES FOR INDUSTRY GROUPS
(

Millions of dollars)
Seasonally adjusted Not seasonally adjusted
Industry Monthly Percent Change Monthly Percent
change
May Apr. Mar.|  Apr-| Mar.-|_— Feb.~ May Apr. Mar. May| May
1994” 1994" 1994] = May| Apr. Mar. 1994” 1988 1994 1993} 94/93
All manufacturing industries : 382,556} 380,645] 379,772 40.5 +02 -0.1} 385,363} 382,017] 379,434] 383,932 +0.4
Manufacturing industries
with unfilled orders... . see 254,072 | 252,342] 251,291 40.7 +0.4 -0.2| 256,938] 253,616] 250,539] 254,302 +10
without defense capital goods 357,502 | 355,126] 354,182] +07] +03] +02] 360,140] 356,387] 353,981] 354,937} +15
Durable goods industries .... . 240,713 | 239,164] 238,195 40.6 40.4 -0.3} 243,004] 240,081] 238,002] 239,823 413
With unfilled orders 220,724] 219,041} 217,988] +0.8} +05 -0.2} 223,103} 219,878} 217,191] 220,543] +12
Stone, clay, and glass products... 7,493 7,501 7,546 0.1 06} +05 7,653 7,674 7,702 7,878 29
Primary metais : 19,573] 19,527} 19,552] 40.2 -0.1 0.0} 19,595] 19,499] 19,401] 19,250] -+1.8
Blast furnaces, steel mills... 9,563 9,477 9,496 +0.9 0.2 0.6 9,448 9,281 9,297 9,352 +10
Iron and steel foundries . . 1,481 1,460 1,455 +14 +03 +17 1,524 1,504 1,498 1,425 +69
Nonferrous and other primary
metals... 2. ees 8,529 8,590 8,601 -0.7 01] +05 8,623 8,714 8,606 8473] +18
Fabricated metal products . 23,048 22,949 22,850 +0.4 +0.4 -13 23,317 23,152 23,079 23,418 0.4
Industrial machinery and equipment . 48,155] 47,888] 47,478 +0.6 40.9 +1.0] 48,672] 47,946] 47,000] 45,262 4715
Engines and turbines ... . 3,680 3,583 3,538 42.7 H13 +h 3,771 3,608 3,430 3,615 +43
Farm and garden machinery o 2,378 2,422 2,412 “18 +04 “12 2,283 2,390 2,516 2,072] +10.
Construction, mining and
material handling equipment. . 5,762 5,741 5,702 +0.4 +07 +19 5,837 5,823 5,790 5,928 -15
Metalworking machinery ... . 5,400 5,393 5,266 +0.1 $2.4 0.5 5,449 5,443 5,200 5,199 44.8
Computer and office equipment . . . 11,807] 11,834] 11,682 02] +13] +20] 11,996] 11,683) 11,150] 10,319] +163
Electronic and other
electrical equipment .........-- 36,072] 35,519] 35,004 +16 +15 +08] 36,947] 35,924] 34,871 33,335] +108
Electrical transmission and
distribution equipment and
industrial apparatus bees 4,315 4,280 4,268 +08 +03 +0.7 4,408 4,348 4,259 4,459 Ll
Household appliances . . on 2,583 2,577 2,577 40.2 0.0 -18 2,805 2,762 2,690 2,831 0.9
Electric lighting and
wiring equipment ............ 2,928 2,933 2,972 -0.2 13 0.4 3,001 2,976 2,976 2,937 42.2
Household audio and
video equipment ........... 1,065 1,061 10st} +04] +10] +14 1,088 1,037 1,006 1,105
Communications equipment. 10,608} 10,259] 9944] +34] 43.2) 41.7] 10,894] 10,377 9,867 8,470
Electronic components sees 11,278} 11,163} 10981] +10] +17) 41.2] 11,357] 11,145] 10,886] 10,079
Transportation equipment .. . . . 61,027] 60,557] 60,399 +0.8 +03 -15} 60,949] 60,423 60,516] 65,573
Motor vehicles and parts . 12,056] 11,744] 11,654] +2.7]  +0.8) 40.2] 11,685] 11,547] 11,663] 11,089
Aircraft, missiles,
space vehicles, and parts. ...... | 44,836] 44,678] 44,569] +04] = ++0.2 22] 45,138] 44, 747 44,625] 50,138
Shipbuilding and tanks 1,609 1,624 1,632 0.9 -0.5 42.8 1,635 1,616 1,822
Instruments and related produ - | 22,005] 21,815] 21,816] +09 0.0 09] 22303} 21 ou 21,661} 23,071
Search and navigation equipment 5,758 5,692 5661] +12] +05 “17 5,818 5717 5,558 6,126
Measuring and controlling devices 6,482 6,452 6476] +05 04) +01 6,560 6,480 6,470 6,677
Medical instruments and supplies 6,239 6149] 6,134] +15] 40.2] +0.1 6,326 6,153 6,087 6,418
Photographic goods .. . a 2,725 2,727 2,746 -0.1 0.7 3.5 2,780 2,770 2,743 3,044
All other durable goods 23,340} 23,408] 23,550 03 -0.6 -0.1] 23,568] 23,529] 23,772] 22,036
Nondurable goods industries ....... | 141,843] 141,481] 141,577 +03 -0.1 40.2] 142,359] 141,936] 141,432] 144,109 -12
With unfilled orders ........ 33,348] 33,301] 33,303] +0.1 0.0] +02] 33,835} 33,738] 33,348] 33,759] +0.2
Food and kindred Products 30,603} 30,441] 30,357) +05] =40.3] +11] 29,510] 29,682] 29,833] 28,927] +2.0
Meat products -.............. 3,418 3,355 3,258] +19] 43.0 -0.2 3,483 3,441 3,304 3,130] +113
Dairy products .......... 2,697 2,718 2,699 0.8 40.7 0.2 2,783 2,768 2,631 2,959 5.9
Beverages 5,321 5,308 5319} +02 0.2 -0.9 5,326 5,337 5,306 5,341 -03
All other foods, except fe ‘fats and oils 17,195 17,150 17,184 +03 0.2 +14 15,974 16,184 16,616 16,100 08
Tobacco products : 6,023 5,982 6104} +0.7 20) 432 5,842 6,021 6,187 6528] -10.5
Textile mill products ........... 9,645 9,675 9,690 -03 02) +04 9,982 9,924 9,726 9,622) +3.7
Broadwoven fabrics and
other textiles... tees : 5,397 5,415 5,406 03 +02 +0.1 5,937 5,556 5,439 5,504 +0.6
Paper and allied products eee 13,501 13,466 13,459 +03 +0.1 0.0 13,748 13,739 13,630 13,768 0.1
Pulp, paper, and
paperboard mill products ...... 5,806 5,823 5,834 0.3 0.2 +0.6 5,893 5,926 5,921 5,735 42.8
Paperboard containers and boxes . . 3,188 3,178 3,161 +03 +0.5 +0.2 3,204 3,214 3,201 3,241 -ld
Miscellaneous converted
paper products ............ 4,507 4,465 4,464, +09 0.0 10] 4,651 4,599 4,508 4,792 29
Chemicals and allied products 34,138] 34,072) 34,031} 40.2] +01 05} 34,349] 34,386] 34,379] 35,239 25
Industrial chemicals . +e . 16,134 16,075 16,061 +04 +0.1 “15 16,118 16,076 16,183 17,218 64
Drugs, soaps, and toiletries. . : 13,597 13,583 13,557 +0.1 +0.2 +03 13,910 13,705 13,444 13,736 +13
Petroleum and coal products 10,247] 10,179] 10,207} +0.7 -03| +03] 10,426] 10,126 9992] 11748] -113
Rubber and plastics products : 12,362 12,367 12,399 0.0 0.3 0.1 12,474 12,516 12,573 12,197 423
All other nondurable goods . . . 25,324] 25,299] 25,330 +0.1 0.1 0.2] 26,028} 25,542] 25,112] 26,080 0.2

* Preliminary. ‘ Revised.
See note at end of table 2 relating to survey variability.


10 Total Manufacturing
New Orders and Shipments

Three Month Moving Averages
Billions of Dollars

320 320
New Orders

300} - - ------- 2 errr erect Shipments |-1 300

280 280

260 260
240 240
220 it 1 1 L it 1 L 1 L L i 1 L 220
May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May
May. 1992 - May. 1994
Total Manufacturing
Ratio of Unfilled Orders and
Inventories to Shipments

V/S Ratios UO/S Ratios
2.5 4.2
2.4 4.1
2.3 4
2.2 3.9
2.1 3.8

2 3.7
1.9 3.6
1.8 3.5
1.7 3.4
1.6 3.3
1.5 3.2
1.4 3.1
1.3 3
1.2 it 1 1 1. it 1. 1 it 1 1 i L i 2.9

May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May
May. 1992 - May. 1994
Note: All Charts based on seasonally
adjusted current dollars.


Table 6. VALUE OF MANUFACTURERS’ UNFILLED ORDERS AND TOTAL INVENTORIES
FOR TOPICAL SERIES‘
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted
Industry Monthly Percent Change Monthly Percent
i change
May Apr. Mar. | Apr- | Mar- | Feb- May Apr. Mar, May | May
1994” 1994" 1994 | May | Apr. | Mar. 1994" 1994" 1994 1993 | 94/93
UNFILLED ORDERS
All manufacturing industries 448,467 | 447,337 | 446,398 +03 40.2 0.0 | 452,322 | 451,901 | 450,254 | 464,950 27
Market categories :
Automotive equipment : 1,970 1,974 1,966 02] +04] +08 1,988 2,012 1,992 1,696 | +172
Home goods and apparel. . . . 10,845 | 10,462 | 10,408 | +3.7] +05 | +18] 11,279 | 10,820 | 10,462 | 10,698 45.4
Consumer staples . 1,478 1,445 1,425 423 +14 +16 1,406 1,421 1,407 1,372 42.5
Machinery and equipment +++ | 180,648 | 181,652 | 181,989 -06 02 -0.3 | 181,327 | 182,292 | 182,352 | 188,226 3.7
Business supplies . . . - 5,758 5,646 5,602 | +20] +08 | +23 5,865 5,659 5,671 5,651 43.8
Construction materials
and supplies vanes 14,785 | 14,698 | 14,639 | +06] +04} +425 | 15,044] 14,894] 14,711 | 15,179 -09
Defense products . + + | 107,518 | 107,273 | 108203 | +02] -09 -19 | 107,932 | 108,304 | 110,011 | 119,295 -9.5
Other materials, supplies and
and intermediate products . . . 125,465 | 124,187 | 122,166 +1.0 +17 +1.7 | 127,481 | 126,499 | 123,648 | 122,833 +3.8
Durable goods industries
Nondefense capital goods * . . 198,901 | 199,657 } 199,715 0.4 0.0 -0.2 | 199,257 | 200,031 | 200,014 | 206,395 3.5
Excluding aircraft and parts . . 81,637 | 81,460 | 79,812 | +02] +21 | +284 81,993 | 81,834] sort | 71,595 | +145
Defense capital goods‘ ........ | 113,419 | 113,228 | 113,900 | +02] -06 -1.9 | 113,954 | 114,394 | 115,681 | 125,813 94
Durables excluding capital goods 112,083 | 110,796 | 109,653 +12 +1.0 +19 | 114,461 | 113,382 | 111,160 } 109,524 44.5
Miscellaneous series :
Producers’ durable equipment . . 210,286 | 210,518 | 210,401 -0.1 +0.1 +0.2 | 211,364 | 211,554 }| 211,022 | 211,792 0.2
Household durable goods ....... 5,872 5,460 5,647 +75 3.3 40.5 6,168 5,829 5,679 5,655 49.1
Information technology industries 33,293 | 33,492 | 33,032 0.6 | +14] +19 | 33,768 | 33,385 | 32,824 | 31,932 45.7
Health care equipment
and products see 7,042 7,123 7,298 “11 24 24 7,043 7,123 7,298 8319 | 15.3
TOTAL INVENTORIES
All manufacturing industries. . 382,556 | 380,645 | 379,772 | +05] +02 -0.1 | 385,363 } 382,017 | 379,434 | 383,932 +04
Market categories :
Automotive equipment ......... 6,106 6,033 6,062 | +12] -05 03 6,030 $,992 6,187 6,121 -15
Home goods and apparel ....... | 30,688 | 30,693 | 30.778 00] -03 -0.1 | 31,967 | 31,177 | 30,681 | 31,232 424
Consumer staples ....... : 58,043 | 57,773 | 57,788 | +0.5 00] +07 | 57,352 | 57,221 | $7,071 | 58.659 22
Machinery and equipment ..... . 91,626 | 90,237 | 89,367 | +15] +10] +03 | 92,862 | 90,595 | 89,073 | 89,281 +4.0
Business supplies : ++ | 21,052 | 21,036 | 21,046 | +01 0.0 03 | 21,150 | 21,218 | 21,071 | 21,756 28
Construction materials
and supplies tee oa 24,328 | 24,273 | 24,462 +02 0.8 -0.1 24,666 | 24,587 | 24,861 23,648 +43
Defense products . : 23,989 | 24,439 | 24,543 -18 0.4 -2.6 | 24,178 | 24,580 | 24,439 | 27,498 | -12.1
Other materials, supplies and
and intermediate products 126,724 | 126,161 | 125,726 | +04] +03 -0.1 | 127,158 | 126,647 | 126,081 | 125,737 +11
Durable goods industries
Nondefense capital goods ° | 86,568 | 85,212 | 84,223 | +16 { +12 87,860 | 85,527 | 83,622 | 84,065 +45
Excluding aircraft and parts : 59,899 59,294 58,570 +1.0 +12 61,004 59,642 57,862 55,773 49.4
Defense capital goods * . . ++ | 25,054 | 25,519 | 25,590 -18 0.3 E 25,223 | 25,630 | 25,453 | 28,995 -13.0
Durables excluding capital goods 129,091 | 128,433 | 128,382 40.5 0.0 -0.2 | 129,921 | 128,924 | 128,927 | 126,763 42.5
Miscellaneous series :
Producers’ durable equipment - | 146,983 | 145,129 | 144,240 +13 40.6 +0.1 | 148,684 | 145,692 | 143,955 | 143,661 43.5
Household durable goods . . . 13,527 | 13,546 | 13,616 -0.1 0.5 -0.8 | 13,934 | 13,673 | 13,576 | 13,767 H12
Information technology industries 32,274 | 32,022 | 31,650 | +08] +12] +09 | 32,887 | 32064 | 31,012 | 29581 | +112
Health care equipment
and products ............. 13,625 ] 13,525 | 13,496 | +0.7} +02] +02 | 13,880 | 13,596 | 13,390 } 13,873 40.1

See footnotes at end of table 5.
See note at end of table 2 relating to survey variability.


Table 5. VALUE OF MANUFACTURERS’

FOR TOPICAL SERIES!
(Millions of dollars)

SHIPMENTS AND

‘W ORDERS

Seasonally adjusted

Not seasonally adjusted ?

Monthly Percent Change Monthly Percent Year to date
Industry change
May} Apr. | Mar. | Apr- | Mar.-{ Feb.-| May} Apr.] Mar.|_ May | May
soar] 1984] 1994 May | Apr.| Mar.| 1994? 1984'| 1908] 1993] 943] 1994] 1993
SHIPMENTS
All manufacturing industries 275,682| 274,243] 274,497] +05] 0.1] +1.0] 278,633] 272,953] 288,084] 256,332]  +8.7] 1,349,284 |1,258,724
Market categorie
Automotive equipment . . 13,423) 13,627] 13,588] -1.5] +03] -2.8] 14,949] 14,722] 14,561] 12,809] +16.7) 71,552] 61,343
Home goods and apparel 19.265] 18,951] 18,952] +1.7] 0.0] +3.9} 18,002] 17,759] 19,498} 16,209] +11.1] 89,094] 82,325
Consumer staples 57,518] 58,275] 58,011] -1.3] +05] -0.5] 57,225] 56,146] 59,071] 55,987] +2.2] 281,308] 275,808
Machinery and equipment 48,202] 47,967] 48,649] +05] -1.4] +1.3] 48,682] 47,402} 53,795} 43,4291 +12.1] 236,964] 211,682
Business supplies 20,730] 20,591] 20,464) +0.7| +0.6f +1.7] 20,907] 21,119] 20,875] 19,496) +7.2| 100,826] 96,214
Construction materials
and supplies ...... 17,691] 17,690} 17,778] 0.0} -0.5] +2.0} 18,226] 17,839] 18,096] 16,906} +7.8] 85,708] 79,119
Defense products 7,241) 7,346) 7,438) -1.4] -1.2] +15] 7,008) 6,936] 7,815] 7,375] -5.0] 35,011] 36,822
Other materials, supplies and
and intermediate products . 91,612] 89,796] 89,617] +2.) +0.2| +14] 93,634] 91,030} 94,373] 84,121] +113] 448,821] 415,411
Durable goods industries
Nondefense capital goods * 36,133] 35,873| 36,431] +0.7]  -1.5]  +1.8] 34,965} 34,101] 41,231] 31,782] +10.0] 173,429] 157,095
Excluding aircraft and parts 31,816) 31,288] 30,898] +1.7] +1.3] -0.6 30,827] 29,650] 34,997) 26,319] +171] 150,186} 130,202
Defense capital goods * . . --| 6,776) 6,952] 7,139] -2.5|  -2.6 +29 6,499] 6,471) 7,467] 7,189] -9.6] 32,830] 35,593
Durables excluding capital goods . | 105,314] 104,107] 103818] +12) +03) +0.3) 109°628| 106663] 109°511| 959926] +143| 523,618] 466,690
Miscellaneous series :
Producers’ durable equipment 95,292] 94,821] 95,251] +05} -0.5]  +0.4) 97,733] 95,067] 104,113] 86,279] +13.3) 473,988} 421,363
Household durable goods 8,171] 8,000] 7,884) 42.1] +15) +25] 7,808] 7,701] 8,407] 6,888] +134] 38,057] 34,962
Information technology industries . | 17,390] 17,389] 17,304) 0.0] +0.5| +2.6 16,197] 15,441] 19,642] 13,826] +17.1] 80,306] 68,643
Health care equipment
and products 8,507] 8,483} 8,494} +03} -0.1] 43.1) 8,018] 8,147] 8,897] 7,407] +8.2] 41,044] 39,484
NEW ORDERS
All manufacturing industries 276,812| 275,182] 274,691] +06] +0.2}  +1.1] 279,054} 274,600] 289,574} 250,090] +11.6] 1,363,248 ]1,251,488
Market categories :
Automotive equipment . . 13,419] 13,635] 13,603} -1.6} +0.2} -2.7} 14,926] 14,742] 14,559} 12,866} +16.0) 71,639] 61,454
Home goods and apparel 19,648] 19,005] 19,134] +3.4] -0.7] +4.91 18,460] 18,117] 19,851] 16,188] +14.0) 91,710] 84,433
Consumer staples $7,552] 58,295 58,033] -1.3] +0.5|  -0.4| 57,210] 56,160] 59,083] 55,980] +2.2) 281,238] 275,741
Machinery and equipment . 47,198] 47,629] 48,085] -0.9]  -0.9|  -0.2). 47,718] 47,341] 52,921] 41,347] +15.4] 238,068] 202,403
Business supplies... . . 20,841} 20,636] 20,590] +1.0] +02] +2.0] 21,112} 21,108] 21,126] 19,479] +8.) 101,323] 96,177
Construction materials
and supplies 17,778) 17,749) 18,135] +0.2] -2.1] +3.5 18,376] 18,022] 18,593] 17,032] +7.9] 86,877] 79,971
Defense products 7,486] 6,416] 5,395] +16.7] +189] -19.3] 6,636] 5,229] 6,532) 4,521] +46.8] 32,034] 32,781
Other materials, supplies and
and intermediate products 92,890} 91,817] 91,716] +12] +0.1] +34) 94,616] 93,881] 96,909] 82,677] +14.4] 460,359] 418,528
Durable goods industries
Nondefense capital goods ? 35,377] 35,815] 36,127] -1.2| -0.9]  -0.7] 34,191] 34,118] 40,273} 29,221] +17.0] 175,349] 146,306
Excluding aircraft and parts ....] 31,993] 32,936] 33,080] -2.9] -0.4] +3.3) 30,986] 31,373] 36,525} 26,202) +183] 156,521] 131,537
Defense capital goods‘ ....... 6,967] 6,280] 4,902) +10.9] +28.1) -20.1] 6,059] 5,184] 6,059] 4,297] +41.0] 29,646] 31,626
Durables excluding capital goods. | 106,601] 105,250] 105,877] +13] -0.6] +2.4] 110,707] 108,885] 111,982] 95,234] +162] 534,927] 473,053
Miscellaneous series
Producers’ durable equipment 95,060] 94,938] 95,581] +0.1] -0.7]  +0.6] 97,543] 95,599] 104,121] 84,116] +16.0] 479,209] 414,781
Household durable goods 8,583] 7,813] 7,912) +9.9]  -1.3) 43.7] 8,147] 7,851) 8,467] 6,733] +21.0] 39,390) 36,191
Information technology industries 17,191] 17,849} 17,914] -3.7] -0.4]-+5.7] 16,580] 16,002] 20,216] 14,345] +15.6] 81,988] 69,459
Health care equipment
and products. 8,426] 8,308) 8,315] +14) -0.1] +3.1) 7,937] 7,972) 8,719] 7,534) +5.3] 40,599) 39,352

” Preliminary. ‘ Revised.

’ Topical series are regroupings of the separate industry categories.

? Shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-month variations.

* Nondefense capital goods industries include : ordnance and accessories; steam, gas and hydraulic turbines; internal combustion engines; construction, mining, and material
handling equipment; metalworking machinery; special industry machinery; general industrial machinery; computer and office equipment, refrigeration, heating and service

industry machinery; electrical transmission and distribution equipment; electrical industrial apparatus; communications equipment; aircraft, missiles, space vehicles, and engines

and parts; ships and tank components; railroad equipment; and search and navigation equipment.

* Defense capital goods industries include :
and tank components; and search and navigation equipment.

See note at end of table 2 relating to survey variability

ordnance and accessories; communications equipment; aircraft, missiles, space vehicles, and engines and parts; ships, tanks


Table 8. RATIOS OF MANUFACTURES’ INVENTORIES TO SHIPMENTS AND
UNFILLED ORDERS TO SHIPMENTS, BY INDUSTRY GROUP
(Based on seasonally adjusted data)

Inventory / Shipments ratio Unfilled Orders / Shipments ratio!
Industry May Apr. Mar. Feb. May Apr. Mar. Feb.
1994" 1984" 1994 1994 1994" 1994" 1994 1994
All manufacturing industries... . 139 139 138 1.40 3.01 3.04 3.03, 3.07
Durable goods industries. . . : 1.62 1.63 162 1.63 3.61 3.64 3.63, 3.69
Stone, clay, and glass products 112 13 113 119 121 121 118 1.25
Primary metals. . 1.55 159 1.60 161 197 1.98 197 1.90
Fabricated metal products... . . . 1.53 1.53 152 1.56 147 1.46 1.45 1.44
Industrial machinery and equipment 1.79 181 1.79 178 234 234 227 2.22
Electronic and other
electrical equipment ......... 1.62 1.60 1.63 1.63 2.12 2.14 215 2.16
Transportation equipment . . . 1.63 1.60 135 158 1138 41 10.95 11.47
Instruments and related products . - 2.00 2.00 2.02 2.03 441 452 4.62 467
Nondurable goods industries Lu Lil Lit 112 0.77 0.77 0.76 0.74
Food and kindred products 0.88 0.87 0.84 0.84 (X) (xX) (X) (X)
Tobacco products 2.29 1.86 2.77 1.84 (xX) (xX) (xX) (X)
Textile mill products . 156 1.60 158 1.60 (NA) (NA) (NA) (NA)
Paper and allied products . . . 121 124 124 124 (NA) (NA (NA) (NA)
Chemicals and allied products 122 123 1.23 1.28 ® & & (xX)
Petroleum and coal products 087 0.86 0.87 0.88 %) &) fea) (X)
Rubber and plastics products . 131 133 133 1.38 (Xx) (X) (X) &®

Preliminary. ‘Revised. (X) Not applicable. (NA) Not available

' Excludes the following industries with no unfilled orders : Wood and lumber products; glass containers; metal cans, barrels and drums; farm and garden machinery;
motor vehicle assembly operations; other transportation equipment; foods and related products; tobacco; knitting mill products; apparel and related products; chemicals;
petroleum and coal products; and rubber and plastics products.

Table 9. RE IONS TO PREVIOUSLY PUBLISHED MONTHLY PERCENT CHANGES
(Based on seasonally adjusted data)
Shipments New orders Unfilled orders Inventories

Industry
May May May May
May? | 1993- May? | 1993- May? | 1993- May? | 1993-
May! | 1989-| Apr. | May! | 1989-] Apr. | May! | 1989-] Apr. | May! | 1989- | Apr.
1994 | 1993 | 1994] 1994} 1993] 1994] 1994] 1993 | 1994] 1994] 1993 | 1994
All manufacturing industries ® 01 0.1 (0) 04 02 (ea) 01 O1 (e9) 02 O41
Durable goods industries . . . 0.1 01 02 02 08 03 O.1 O1 01 (%) OL 01
Stone, clay, and glass products . ) 05 05 (X) 05 12 &) 04 08 &® 03 02
Primary metals... . - 0.6 03 04 0.6 14 09 0.1 05 05 (xX) 01 02
Fabricated metal products . . : (X) 04 04 (X) 0.6 0.6 () 0.2 03 (xX) 03 03
Industrial machinery and equipment .| 9.5 05 05 0.1 09 06 02 oO. O1 (x) 02 02

Electronic and other

electrical equipment 02 02 03 0.1 03 10 0.0 0.0 04 (e.9) 01 02
Transportation equipment 0.0 04 04 0.1 28 07 0.0 02 01 (x) 02 02
Instruments and related products . . (xX) 12 03 (xX) 0.6 23 (xX) 0.0 04 (X) 0.2 03
Nondurable goods industries : & 01 Ol () 0.1 0.2 (Xx) 0.6 04 (X) 0.1 0.1
Food and Kindred products»... . . (x) 07 03 & ® &) (x) ® (e9) &) 08 Ol
Tobacco products . . cr M04) 34 02 & (X) (X) & & (&) (xX) 03 1
Textile mill products . . &) 08 05 (x) | NA) | (NA) (x) | @NA)] (NAY (xX) 02 Oo
Paper and allied products . . . () 01 03 (| (NA) | (NA) OM] way] (Na) &) Ol 0.1
Chemicals and allied products o (xX) 02 02 (xX) (xX) (Xx) (X) (X) (X) (x) O41 0.2
Petroleum and coal products . (xX) 0.5 0.6 (xX) (X) (xX) (xX) (xX) (Xx) (xX) 0.6 0.4
Rubber and plastics products . (x) 0.9 03 (X) (X) ie) e9) (X) (X) e9) 0.5 0.1

Capital goods industries
Nondefense : -0.5 0.6 04 04 21 0.6 0.0 01 0.1 (xX) 0.1 0.1
Defense .... 05 17 04 -10] 10.1 53 0.0 03 03 &) 05 02

(X) Not applicable. (NA) Not available

Note : The five year and the twelve month revisions are the differences between the month-to-month percent changes of the preliminary and final estimates. The
monthly averages are the simple averages of the absolute values of the differences for the months specified. The advance to final percent change revisions for the
durable goods industries are shown in the advance report for the month.

' The current month revisions are the difference between the advance percent change and the percent change as shown in this publication.
? Average for this month for the last five years.
See note at end of table 2 relating to survey variability.


CURRENT INDUSTRIAL REPORTS

oe,
By

U. S. Department of Commerce
Economics and Statistics Administration
BUREAU OF THE CENSUS

Manufacturers’ Shipments,

Inventories, and Orders

May 1994
M3-1-(94)-05
For Wire Transmissions 10:00 a.m. E.D.T. June 30, 1994

Steve Andrews or Gloria Cable
(301)763-2502 or (301)763-2575

Summary

New orders for manufactured goods in May increased
$1.6 billion or 0.6 percent to $276.8 billion, the Department
of Commerce, Bureau of the Census reported today. This
follows a 0.2 percent April increase. Year-to-date new
orders for 1994 are 8.4 percent above the same period a
year ago.

Shipments increased $1.4 billion or 0.5 percent to
$275.7 billion, following a 0.1 percent decrease in April.
This is the third increase in the last four months. Year-to-
datc shipments for 1994 are 6.8 percent above the same
period a year ago.

Unfilled orders increased $1.1 billion or 0.3 percent to
$448.5 billion, the fourth increase in the last five months.
The unfilled orders-to-shipments ratio decreased from 3.04
in April to 3.01 in May, the lowest in nearly thirty years.

Inventories increased $1.9 billion or 0.5 percent to
$382.6 billion, following a 0.2 percent increase in April. This
is the fourth increase in the last five months. The
inventories-to-shipments ratio remained at 1.39 in May.

New Orders

New orders for durable goods in May increased $1.6
billion or 1.1 percent to $148.9 billion, following a 0.3
percent increase in April. This is the third consecutive
monthly increase and the ninth in the last ten months.

All major groups except industrial machinery and
equipment, electronic and other electrical equipment, and
stone, clay, and glass products increased. Transportation
cquipment had the largest increase, up $0.8 billion or 2.1
percent to $36.7 billion, as an increase in aircraft and parts
more than offset declines in railroad equipment and motor
vehicles and parts. Primary metals increased $0.7 billion or
5.3 percent to $13.3 billion, following a 5.1 percent decrease
in April. Electronic and other electrical equipment had the
largest decrease, down $1.1 billion or 4.9 percent to $22.2
billion, primarily due to communications equipment and
clectronic components. This follows an 8.7 percent increase
in April.

New orders for nondurable goods remained at $127.9
billion as increases, led by paper and allied products, offset
decreases, led by tobacco products. This follows six
consecutive monthly increases.

Shipments
Shipments of durable goods in May increased $1.3

billion or 0.9 percent to $148.2 billion, the third increase in
the last four months. All major groups except transportation

Note: All figures in text are in seasonally adjusted current dollars

equipment increased. Industrial machinery and equipment
had the largest increase, up $0.5 billion or 2.0 percent to
$26.9 billion, with increases in nearly all categories. Primary
metals increased $0.4 billion or 3.0 percent to $12.7 billion,
the fourth consecutive monthly increase. Transportation
equipment decreased $0.5 billion or 12 percent to $37.4
billion, following a 2.5 percent decline in April.

Shipments of nondurable goods increased $0.1 billion
or 0.1 percent to $127.5 billion, the seventh consecutive
monthly increase. The largest increases were in chemicals
and allied products, up $0.3 billion or 1.0 percent to $28.1
billion, and paper and allied products, up $0.3 billion or 2.5
percent to $11.2 billion. Tobacco products had the largest
decrease, down $0.6 billion or 18.2 percent to $2.6 billion.

Unfilled Orders

Unfilled orders for durable goods in May increased
$0.7 billion or 0.2 percent to $4344 billion, the second
consecutive monthly increase. Industrial machinery and
equipment, up for the eleventh consecutive month, had the
largest increase, up $1.1 billion or 1.9 percent to $58.7
billion, with nearly half the increase in computer and office
equipment. Primary metals increased $0.6 billion or 2.4
percent to $24.9 billion, the sixth consecutive monthly
crease. Transportation equipment decreased $0.7 billion
or 0.3 percent to $209.1 billion, primarily due to shipbuilding
and tanks. This is the twenty-fourth decrease in the last
twenty-five months. Instruments and related products
decreased $0.7 billion or 1.5 percent to $48.5 billion, the
twelfth decline in the last thirteen months. Unfilled orders
for nondurable goods increased $0.4 billion or 1.7 percent to
$24.1 billion, the seventh increase in a row.

Inventories

Inventories for durable goods in May increased $1.5
billion or 0.6 percent to $240.7 billion, the fourth increase in
the last five months. Electronic and other electrical
equipment had the largest increase, up $0.6 billion or 1.6
percent to $36.1 billion, the seventeenth increase in the last
nineteen months. Transportation equipment increased $0.5
billion or 0.8 percent to $61.0 billion, primarily due to motor
vehicles and parts. Industrial machinery and equipment
increased $0.3 billion or 0.6 percent to $48.2 billion, the
fourteenth consecutive monthly increase. Nondurable goods
inventories increased $0.4 billion or 0.3 percent to $141.8
billion, the third increase in the last four months.

By stage of fabrication, finished goods increased 0.4
ercent in durables and were unchanged in nondurables.
ork in process increased 0.7 percent in both durables and
nondurables. Materials and supplies increased 0.8 percent
in durables and 0.5 percent in nondurables.

“The advance report on durable
Superintendent of Documents, U.S. Government Printing Office,
of Commerce's ontine Economic Bulletin Board (N8-1) (

is available from Dialog Information Services, Inc. (1
763-2074) can provide content information and gencral guidance.

for June is scheduled for July 27, 1994 at 8:30 am. and the full report on August 3, 1954 at 10:00 a.m. For sale by the

fashington, DC 20402. ‘This report is also available the day of issue through the ent
(202-482-3870) and through the Census Bureau’s online information service~CENDATA. ATA
'334-2564) and CompuServe (1-800-848-8199). The CENDATA staff at the Bureau of the Census (301-


Nondefense Capital Goods 11
New Orders and Shipments
Three Month Moving Averages
Billions of Dollars

New Orders

38 - ----- <2 - rere Shipments |] 38

May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May
May. 1992- May. 1994

Defense Capital Goods
New Orders and Shipments
Three Month Moving Averages

Billions of Dollars
11 11

New Orders

10

May = Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May
May. 1992 - May. 1994

Note: All Charts based on seasonally
adjusted current dollars.


Table 7. VALUE OF MANUFACTURERS’ INVENTORIES, BY STAGE OF FABRICATION,

BY INDUSTRY GROUP
(Millions of dollars)

Seasonally adjusted

Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent
change
May Apr. Mar. | Apr.- | Mar.- | Feb May Apr. Mar. May | May
1994" 1994" 1994 | May | Apr. | Mar. 1994” 1994" 1994 1993 } 94/93
MATERIALS AND SUPPLIES
All manufacturing industries 122,099 | 121,281 | 120,565 | +0.7 | +06 | +02 | 121,568 | 120,787 | 119,957 | 120,645 +08
Durable goods industries... ... « 70,158 | 69,576 | 68,780 | +08] +12 0.0 | 69,766 | 68,899 | 68,047 | 67,985 426
Stone, clay, and glass products . 2535 | 2570 | 2586 | +06] -06] +17} 2572 | 2537 | 2,568 | 2,477 438
Primary metals bees 6023 | 3937 | S918} +14] +03 | +09] 5,855 5.763 | 5.705 51995 23
Fabricated metal products : 7814} 7.775 | 7.693 | +05] +11 18 | 7712 | 7643 | 7687 ] 7.5: 425
Industrial machinery and equipment 15235 | 14965 | 14.484] 418] +33 703 | 15308 | 14892 | 14,264 | 14,549 +52
Electronic and other
electrical equipment 1162s | 11432 | nasi} 447] the | +16 | 11,736 | ast | bigs | 10.461 | +122
Transportation equipment : 10935 | 10.924} 10819 | +01] +10] -13 | 10935 | 10,975 | 10,844 ] 12,070 94
Instruments and related products . . 6.741 67 | 6.710} +04 00} +05 787 | 6,720 | 6,682 | 6,874 13
Lumber, furniture and
miscellaneous durable goods 9200 | 9,262 | 9,319 07] 06] 0.1 8,861 3918 | 9,109 | 8,036 | +103
Nondurable goods industries . sio41 | 51,705 | 51,785 | +05} -02 | +06 | 51,802 | 51,888 | 51,910 | 52,660 “16
Food and kindred products 9/935 | "9/901 9968 | +03 | -07 | +05 | 9834 | 9,977 } 10,045 | 9,951 “12
Tobacco products. . 3127 | S120 | si92 | +01] -14] +19 | 5000 | si60] 5310 | 5,176 34
Textile mill products 3775 | 21758 | 2756 | +06) +01 | +33] 2849 | 2,792 | 2,780 | 2,698 +56
Paper and allied products 6667 | 6642 | 6668 | +04] -04] +10 | 6637 | 6655 | 6,735 | 6,715 “12
Chemicals and allied product 11291 | 11250 | 11202 | +04 | +04] -05 | 11309 ] 11,248 } 11,160 | 11,707 34
Petroleum and coal products “1 | 2996 | 2975 | 2954 | +07] 40.7] +02 | 3,067 "984 | 2,877 326 78
Rubber and plastics products. . - 43538 | 4544 | 4;572 01] 06) +06} 4519} 4546 | 4,563 | 4,408 42:5
Apparel, printing and publishing
and leather goods ....... 3612] sis | 3473] +14] +05 | +02] 8587 | 8,526 | 8440 | 8,679 “ll
WORK IN PROCESS
All manufacturing industries 129,011 | 128,164 | 128,492 | +0.7] -03 | -0.1 | 129,462 | 128,335 | 128,449 | 129,714 02
Durable goods industries... .. 105,654 | 104,959 | 105,075 | +07) -0.1 02 | 106,175 | 105,016 | 103,070 | 106,735
Stone, clay, and glass products . . 1,063 1,069 1,041 06 | +27 22 1,097 1117 1,089 1154
Primary metals -.. 2... 7239 | 77234] 7272] +01 | -05 07 | 7277 | 7268 | 7309 | 7,002
Fabricated metal products 0... . | 7489 | 734s | 71435 | +20] -12 | -09 | 7,527 | 7337 | 7,489 | 7,688
Industrial machinery and equipment 18641 | 18:834 | 19,033 “10 | -10 | +28 | 18,731 | 18,780 | 18,820 | 17,447
Electronic and other
electrical equipment .. . 14858 | 14,550] 14469] +421] +06] +10] 15,118 | 14,691 | 14,460 | 14,010
Transportation equipment ..... . 42077 | 41.707 | 41546 | +09] +04] -18 | 41991 | 41525 | 41,724 | 44,887
Instruments and related products 9293 | 9243 | 9265] +05) -02] -12} 9367 | 9,257 | 9,133 | 9,921
Lumber, furniture and
miscellaneous durable goods 4994 | 4977] 5,014 | +03 +19 | 5,067 | 5,041 5,046 | 4,626
Nondurable goods industries 23,357 | 23,205 | 23,417 | +0.7 40.6 | 23,287 | 23319 | 23,379 | 22,979 +13
Food and kindred products 4010 | “4,020 | 4,002 0.2 +16 721 37886 | 4.013 | 3,469 472
Tobacco products 169 191 179 | -115 49.8 12 157 162 142 9.2
Textile mill products . . - 2,550 | 2,362 | 2,607 05 05 | 2,595 | 2,585 | 2,604 | 2,522 429
Paper and allied producis 1213 1)188 1178 | +2.1 +15 1:23 1,206 1,187 1:225 02
Chemicals and allied products 5488 | 51430 | 5.652 | +11 +01 51585 | 5.489 | 5,574 | 5,644 -10
Petroleum and coal products 2237 | 2230} 2280 | +03 +05 | 2261 2262 | 2262 | 2,710 | -16.6
Rubber and plastics products. . - 1.780 1,769 1765 | +06 05 1.767 1.768 1,747 1,685 +49
Apparel, printing and publishing
and leather goods . . bees 5,910 | 5,815 } 5,754] +16 +08 | 6,007 | 5,966] 5,830 | 5,582 +76
FINISHED GOODS
All manufacturing industries 131,446 | 131,200 | 130,715 | +02] +04 |  -04 | 134,333 | 132,895 } 131,028 | 133,573 +0.6
Durable goods industries ........ 64,901 | 64,629 | 64,340] +04] +04] -06 | 67,063 | 66,166 | 64,885 | 65,103 +3.0
Stone, clay, and glass products 33845 | 3,862 | 3.919 04) -15 . 3984 | 4020 | 4,045 | 4,247 62
Primary metals -.... . . 6311 6356 | 6,362 07) 01 61463 | 6,468 | 6,387 | 6,253 43.4
Fabricated metal products |... . 7745 | 7,829 | 7,722 Ll} +14 3.078 | 8,172 | 7,903 | 8,207 “16
Industrial machinery and equipment 14279 | 14089 | 13,961 | +13] +09 14,633 | 14274 | 13,916 | 13,266 | +103
Electronic and other
electrical equipment 9589 | 9,537 | 9,284 | +05] +427 10,093 | 9,782 | 9,223 | 8,864 | +13.9
Transportation equipment . . so1s | 7926 | 034 | +11 {  -13 8.023 | 7923 | 7.948 | 8,616 69
Instruments and related products 5971 51861 siga1 ] +19} +03 6149 | 5957] 51846 | 6,276 -2.0
Lumber, furniture and
miscellaneous durable goods 9,146 | 9,169 | 9,217 03 | 08 9640 | 9,570 | 9,617 | 9,374 42.8
Nondurable goods industries 66,545 | 66,571 | 66,375 0.0) +03 -0.1 | 67,270 | 66,729 | 66,143 | 68,470 -18
Food and Kindred products 16658 | 16520 | 16387 | +08] +08] +13 | 15,956 | 15,819 | 15,775 | 15,507 429
Tobacco products L 727 671 733 | +83) -85 | +117 113 704 715 1210 | -41.1
Textile mill products... - 4320 | 4355 | 4,327 08 | +06] -07 | 4538 | 4547 | 4342 | 4,402 +31
Paper and allied products 5,621 5,636 | 5,613 703 | +04 | -16 | 5888 | 5,878 | 5,708 828 +10
Chemicals and allied products 17359 | 17,392 | 17,177 702] +13] -08 | 17,455 | 17,649 | 17,645 | 17,888 24
Petroleum and coal products sola | 4974 | 43973 | +08 oo] +02 | 5098 | 4880 | 4,853 3712 | -10.7
Rubber and plastics products. . - 6.044 | 6,054 | 6,062 02) 0.1 0.4 | 6188 | 6202 | 6263 | 6,104 +14
Apparel, printing and publishing
and leather goods... .. a 10,802 | 10,969 | 11,103 as} 12} -10} 11,434 | 11,050 } 10,842 | 11,819 33

” Preliminary.‘ Revised

See note at end of table 2 relating to survey variability.


Table 3. VALUE OF MANUFACTURERS’

UNFILLED ORDERS FOR INDUSTRY GROUPS
(Millions of dollars)

Seasonally adjusted

Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent
change
May Apr. Mar.| Apr-| Mar-| Feb May Apr. Mar. May| = May
1994" 1994" 1994] = May} = Apr.|— Mar. 1994? 194° 1994 1993} 94/03
All manufacturing industries . . . 448,467] 447,337] 446,398] +03] +02 0.0] 452,322] 451,901] 450,254] 464,950 2.7
Manufacturing industries
without defense capital goods 335,048] 334,109] 332,498] +03] +05) +0.7] 338,368] 337,507] 334,573] 339,137 02
Durable goods industries. . 424,403 | 423,681] 423,268 40.2 +0.1 0.1] 427,672] 427,807] 426,855] 441,732 32
Stone, clay, and glass products 7,548 7,535 7379) +02) 42.1 0.2 1,736 7,546 7,198 7,625| +15
Primary metals... . 24,934 24,347 24,058 42.4 +12 +4.4 25,975 25,516 25,395 23,721 49.5
Blast furnaces, steel! mills 10,905} 10,864] 10,629] +04] +22) «423 11,276] 11,462] 11.321] 10,794] +45
Iron and steel foundries ....... 3,456 3,355 3,347 +3.0 +0.2 43.5 3,470 3,354 3,404 2,901 +19.6
Nonferrous and other primary
metals 10,573] 10,128] 10,082] +44] +05] -+7.0} 11,229] 10,700] 10,670] 10,026] + +12.0
Fabricated metal produc 20,461} 20,280} 20,301] +0.9 0.1] +22] 20,561) 20,483] 20,580] 22,151 12
Industrial machinery and equipment 58,701 57,624| 56,008 +19 42.9 42.4] 59,030] 57,885 56,341 50,824] +16.1
Engines and turbines : 9,947 9,866 9919] +08 0.5 0.7 9,525 9,522] 9,771 9,454] +08
Construction, mining and
material handling equipment . 6,454] 6,383 6170) +14] 435} 43.1 6,512 6,527 6,363 5,833] +116
Metalworking machinery 8,767 8,690 8,524 +09 +19 +5.7 8,767 8,690 8,524 6,668} 431.5
Computer and office equipment 8,837 8,334 7,795 +6.0 46.9 $5.0 9,305 8,244 7,582 7,806|  +19.2
Electronic and other
electrical equipment : 47,253| 47,356] 46,134 02} 426] 40.1] 47,577] 48,151] 46,083] 42,896] +10.9
Electrical transmission and
distribution equipment and
industrial apparatus 6,103 6,127 6,085 04] 40.7 0.0] 6,103 6,143 6,093 5,822] +48
Electric lighting and
wiring equipment 3,402 3,353 3,302] +15] 415] +02 3,402 3,353 3,302 3,143] +82
Communications equipment 14,891] 15,306] 15,213 27] 406) +408] 14843] 15,316] 15,158] 12,900] +15.1
Electronic components : 17,290] 17,135} 16,232} +09] +5.6/ +11] 17,688] 17,878] 16,173] 16,183] +9.3
Transportation equipment ... . . 209,143} 209,841] 211,775 -03 -09 -12] 209,928] 211,119} 213,227] 231,301 92
Aircraft, missiles,
space vehicles, and parts. 180,196 | 180,204] 181,875 09 -19] 180,835] 181,264] 183,220] 203,014] -10.9
Shipbuilding and tanks 17,423] 17,924] 18,313 21 -18] 17.458] 17,925] 18,248] 20,364] -14.3
Instruments and related products 48,476 | 49,210] 49,963 1S -15] 48,416] 49,290] 50,463 S5,11S] 12.2
Search and navigation equipment 31,362] 31,933] 32,526 -18 2.7] 31,306} 32,029] 33,017] 36,883] 15.1
Measuring and controlling devices 9,240 9,336 9,227 +12 42.7 9,240 9,336 9,227 9,162 40.9
Medical instruments and Supplies 7,013 7,094 7,269 24 24 7,013 7,094 7269 8,290]  -15.4
All other durable goods . . 7,887 7,488 7,650 21) +07 8,449 7817 7,568 8,099] +43
Nondurable goods industries... . . 24,064] 23,656] 23,130] +1.7] +23] = 43.0] 24,650] += 24,094] 23,399] 23,218) +6.2

? Preliminary. ‘ Revised.

See note at end of table 2 relating to survey variability.


Table 2. VALUE OF MANUFACTURERS’ NEW ORDERS FOR INDUSTRY GROUPS
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted’
Monthly Percent Change Monthly Percent Year to date
Industry change

May} Apr.] Mar. | Apr.- | Mar.-| Feb-| May | Apr. | Mar.]| May | May
1994°| 1994'| 1994] May] Apr.| Mar.| 19947] 1994] 1994] 1993] 94/93] 1994" | 1993

All manufacturing industries... . . 276,812] 275,182| 274,691] +0.6]  +0.2} | +1.1] 279,054] 274,600] 289,574] 250,090] +11.6} 1,363,248 1,251,488

Manufacturing industries

with unfilled orders ....... -| 150,007] 148,093] 147,393] +13] +0.5] +1.5] 148,358] 146,266} 157,907] 128,019] +15.9} 733,243] 656,228
without defense capital goods . 269,845} 268,902| 269,789] +0.4] -0.3| +1.6] 272,995] 269,416] 283,515] 245,793) +11.1] 1,333,602 1,219,862
Durable goods industries . «| 148,945} 147,345] 146,906] 41.1] +0.3]  +0.7] 150,957] 148,187] 158,314] 128,752) +17.2] 739,922] 650,985
With unfilled orders ........ -} 118,401] 116,817] 116,148] +14] 40.6, +1.3] 117,053] 115,106] 125,510] 99,259] +17.9) 579,470} 510,913
Stone, clay, and glass products -- | 6,702] 6,820] 6,666} -1.7) +2.3) +4.5{ 7,021) 7,216} 6,495] 6,214] +13.0] 32,259] 28,274

Primary metals rs 13,251] 12,581} 13,259) +53 <5] +6.0) 13,443] 12,715] 14,607) 10,946] +22.8 66,349| 60,727
Blast furnaces, steel mills . 5,750] 5,790} 5,766] -0.7] +04) +0.7) 5,666} 5,823] 6,257) 5,041] +124 29,800] 28,580

Iron and steel foundries ...... 1,261} 1,166] 1,300) 8.1] -10.3} +2.8) 1,354) 1,175] 1,434) 1,063) +27.4 6,388] 5,334
Nonferrous and other prim:
metals... . on 6240} 5,625] 6,193) +10.9) -9.2) +12.1] 6,423] 5,717] 6,916] 4,842) +32.7] 30,161] 26,813

Fabricated metal products : : 15,196] 14,960] 15,514] +16] -3.6f  +4.1) 15,362] 14,841] 16,542) 14,111 +8.9] 74,916] 68,644
Industrial machinery and equipment . | 28,005] 28,012| 27,827] 0.0] +0.7| +2.6 27,794) 27,380] 31,311] 23,211} +19.7) 136,182] 114,687

Engines and turbines. . : 1823] 1,647} 1,678| +10.7]  -1.8) 8.9) 1,734] 1,380) 1,731] 1,309) +32.5] 7,675) 6,543
Construction, mining and
material handling equipment 2,736] 2,808] 2,794] -2.6) +05} -1.7| 2,759] 2,885] 3,061) 2,647 44.2] 14,167] 12,721
Metalworking machinery... . - 2973] 3,006] 3,180] -1.1] —-5.5} +102} 2,999] 2,808} 3,439] 2,355) +27.3] 14,778] 11,808
Computer and office equipment 7,703) 7,728] 7,732) -0.3} -0.1) +10.7] 7,224] 6,489) 9,300) 5,882) +22.8] 34,497] 28,141
Electronic and other
electrical equipment ......... -| 22,211] 23,360] 21,487] -4.9}  +8.7] +2.5] 21,293] 23,293] 21,796] 17,817] +19.5] 108,428} 90,404
Electrical transmission and
distribution equipment and
industrial apparatus ...........] 2,541] 2,604] 2,570] -2.4) +1.3) -4.7] 2,537) 2,624) 2,771) 2,312] -+9.7) 13,174] 12,069
Electric lighting and
wiring equipment . . . . on 1,813] 1,828] 1,739) 0.8) +5.1]  -0.4 1,817] 1,761] 1,838) 1,733) +48 8,784 8,370
Communications equipment --| 4390] 5,038) 4,788] -12.9) +5.2} +0.8] 4,142] 4,765] 5,103} 3,658] +13.2] 21,991] 16,825
Electronic components ......... 8,083} 8,524] 7,788] -5.2) +9.5] +14.1] 7,754] 9,219] 7,509] 5,939] +30.6| 40,356] 32,132
Transportation equipment . . . 36,704] 35,933] 36,268] +2.1] -0.9] -3.3) 39,053] 37,631] 40,242] 32,169) +21.4) 192,831] 164,666
Aircraft, missiles,
space vehicles, and parts. . . 7,974] 6,588] 6,093] 421.0] 48.1) -19.3] 7,171] 5,924] 7,846] 5,130] +39.8] 37,814] 32,079
Shipbuilding and tanks ........ 574] 628-559] -8.6] +123] +39] 576] +649] G09) 308] $87.0] 2,888) 3,863
Instruments and related products - | 10,254] 10,146] 10,049} +11] +1.0]  -8.4) 10,044] 9,187] 10,675} 9,751 43.0] 49,675] 50,866
Search and navigation equipment 1,935} 1,929] 1,463) +0.3) 431.9] -48.3] 1,743] 1,296) 1,545} 2,027) -14.0 8,824] 12,705
Measuring and controlling devices .] 3,068] 3,243] 3,447] -5.4] -5.9]_ +102) 3,068) 3,141) 3,736} 2,723 +12.7) 15,961] 14,155
Medical instruments and supplies .] 2,881] 2,756] 2,781] +45] -0.9)  +0.7/ 2,807) 2,666) 2,966] 2,843 -1.3] 13,999] 13,996
All other durable goods ........ 16,622} 15.533] 15,836] +7.0] -1.9}  +1.8) 16,947] 15,924] 16,646] 14,533] +166) 79,282) 72,717
Nondurable goods industries ...... .| 127,867} 127,837] 127,785] 0.0} 0.0] +1.5] 128,097] 126,413] 131,260] 121,338} — +5.6| 623,326] 600,503
With unfilled orders ...... 31,606] 31,276) 31,245] +11} +0.1]  +1.9} 31,305] 31,160] 32,397) 28,760] +8.8) 153,773} 145,315

” Preliminary. * Revised.

' Shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-month variations.

(n) When new orders for a prior month are negative because of cancellations, the percentage change calculation is algebraically negative, even though there is a net dollar
increase from the prior month to the current month.

Note : Estimates of manufacturers’ shipments, inventories and orders are subject to survey variability and revision. Since the survey panel is not a probability sample,
estimates of sampling variability cannot be calculated. Further details on survey design, methodology, and data limitation are contained in our most recent annual benchmark
publication, Current Industrial Reports: M3-1(92), "Manufacturers’ Shipments, Inventories, and Orders: 1982-1992."


Table 1. VALUE

OF MANUFACTURERS’ SHIPMENTS
(Millions of dollars)

FOR INDUSTRY GROUPS

Seasonally adjusted

Not seasonally adjusted’

Monthly Percent Change Monthly Percent | Year to date
Industry change
May} Apr.| Mar. | Apr. | Mar.-| Feb-| May | Apr. Mar. | May | May
1904 | 1994°| 1994] May] Ape] Mar] 19947] 1994'| 1994] 1993 04193 | 1994" | 1993
All manufacturing industries . 275,682| 274,243| 274,497 +0.5] -0.1] _ +1.0] 278,633] 272,953] 288,084] 256,332] — +8.7] 1,349,284 |1,258,724
Manufacturing Industries
with unfilled orders... . 148,877 147,154] 147,199} +12] 0.0] +1.3} 147,937] 144,619] 156,417] 134,261] +10.2] 719,279} 663,464
without defense capital goods . . . | 268.906] 267,291] 267/358] +0.6] 0.0} +0.9) 272,134] 266,482 280,617| 249,143] +9.2) 1,316,454 1,223,131
Durable goods industries 148,223} 146,932] 147,388] +09] -0.3]_ +0.8| 151,092] 147,235] 158,209] 134,897] +120] 729,877] 659,378
With unfilled orders : 117,679] 116,404] 116,630] +11] -0.2| +1.4| 117,188] 114,154] 125,405] 105,404] +112] 569,425] 519,306
Stone, clay, and glass products 6689] 6.664] 6,681] +04] 0.3] +5.6 6,831] 6,868] 6,578] 5,837) +17.0] 31,342] 27,041
Primary metals. . : 12,664] 12:292| 12243] +3.0] +04] +08] 12,984] 12,594] 12,778] 11,409] +13.8] 61,922] $7,682
Blast furnaces, steel mills . . S709] 51555| 5,522] +2.8) +0.6f 1.7] 5,852| 5,682] 5,785] 5,287] +10.7) 28,236) 26,208
Iron and steel foundries 1160] 1.158} 1.188] +02] -2.5) +20) 1,238) 1,225] 1,250] 1,043) +18.7] 5,961] 5,263
Nonferrous and other primary
metals........ 2. 5,795] 5,579] 5,533] +39) +08] +32) 5,894] 5,687] 5,743] 5,079] +16.0] 27,725) 26,211
Fabricated metal products ...... 15015] 14981] 15,082] +0.2| 0.7] +15] 15,284] 14,938] 15,955] 14,445] +5.81 74,4011 69,254
Industrial machinery and equipment . | 26,928] 26.396] 26,513] +2.0] -0.4| +0.6 26,649] 25,836] 30,651] 23,026] +15.7] 130,130 113,982
Engines and turbines : 1'742} 1700] 1,752) +25] -3.0] +09) 1,731] 1,629} 2,025) 1,478) +17.1] 8,289) 7,145
Farm and garden machinery... . 1319] 1/740] 1/852] +45] -6.0| +10.7} 2,207) 2314] 2,408] 1,795] +23.0) 10,303] 8,654
Construction, mining and
material handling equipment. . 2,665) 2,595] 2,607} +27] -0.5] 2.0] 2,774] 2,721] 2,865] 2,568] $8.0) 13,446] 12,487
Metalworking machinery 2/306] 2:840] 2.720) +2.0] +4.4| +1.5] 2922] 2,642] 2,979] 2,579] +13.3] 13,346] 12,473
Computer and office equipment 7200] 7.189) 7361] +02] -2.3| +35] 6,163] 5,827] 8,986] 5,201] +18.5] 32,443] 27,456
Electronic and other
electrical equipment . 22,314) 22,138] 21,431] +08) 43.3) +07] 21,867] 21,225] 22,657] 18,435] +18.6] 105,289) 89,595
Electrical transmission and
distribution equipment and
industrial apparatus 2,565] 2,562] 2,568] +0.1] 0.2} -0.8] 2,577] 2,874] 2,798] 2,371] +8.7] 12,841] 11,799
Household appliances . . 11382] 18ai] 1840] +01] 42.2) +1.7| 1,923) 1,932] 1,991] 1,637] +175] 9,020] 7,836
Electric lighting and
wiring equipment 1,764] 1,777] 1,732} 0.71 42.6 -0.3] 1,768] 1,710] 1,831] 1,674] -+5.6) 8,619} 8,207
Household audio and
video equipment . 1,068 1,018] 951] +49] 47.01 -4.0) 867] =~ 818} 904] 722) +20.1] 4,304) 3,913
Communications equipment 4.805] 41945] 4,670] -2.8| +59] +3. 4,613] 4,607] 5,064) 3,654] +263] 22,180] 17,347
Electronic components . . 7928] 7.621] 7,613} +4.0] +01) +38} 7,944] 7,514] 7,969] 6,546] +214) 37,772) 31,631
Transportation equipment . 37402) 37,867| 38,852] -1.2|  -2.5] +0.2] 40,244] 39,739} 41,840] 36,797] +9.4) 196,379] 179,211
Motor vehicles and parts . . 26719] 26851] 26.777] -0.5|  +0.3] -3.1] 29,893] 28,940] 28,774] 25,065] +19.3] 142,170] 120,869
Aircraft, missiles,
space vehicles, and parts. 7,982] 8,259] 9,537) -3.4| -13.4 +12.6 7,600] 7,880] 10,315] 9,335) -18.6} 41,004) 46,241
Shipbuilding and tanks 1075| 1017) 902) +5.7| +127} -12.8] 1,043] 9721942} 931] +12.0) 4,726] 4,713
Instruments and related products . 10988| 10,899] 10,803] +0.8] +0. 0.6) 10,918] 10,360] 11,436] 10,480] +4.2] 52,653] 51,338
Search and navigation equipment 2'506| 2,522] 2360] 0.6 +69 8.4] 2,466] 2.284] 2,509] 2,691] -8.4) 11,808] 12,977
Measuring and controlling devices 3164] 3.134] 3,206] +10 -2.2) +4.1) 3,164] 3,032] 3,495] 2,904] +9.0) 15,553] 14,181
Medical instruments and supplies 21962) 2931] 2.960] +11] -1.0] +0.) 2,888 2,841] 3,145] 2,716] +63] 14,442] 14,129
Photographic goods 1977] 1.943] 1/923] +17] +1.0f  -0.3] 2,009] 1,834) 1,911] 1,828] +9.9] 9,071] 8,414
All other durable goods . 16223] 15,695| 15,783| +34] -0.6 +09] 16,315] 15,675] 16,314) 14,468} +128] 77,761] 71,275
Nondurable goods industries 127,459] 127,311] 127,109} +0.1] +02] +1.2} 127,541} 125,718] 129,875] 121,435] +5.0] 619,407] 599,346
With unfilled orders . . . 31,198| 30.750] 30,569] +15] +0. +0.8| 30,749] 30,465] 31,012] 28,857] +6.6) 149,854] 144,158
Food and kindred products 34'808] 34.890] 35,987] -0.2| -3.0] +0.9] 35,192] 33,898] 36,861] 34,023] +3.4] 172,790] 165,979
Meat products 7743] ~7:390] 8.026] -19] -1.7|_ -1.5] 8,029] 7,749] 8,009) 8,258) -2.8] 39,253) 38,585
Dairy products . 4612) 4'578] 4.805] +0.7] -4.7] +19] 4,718] 4,532] 4,868] 4,576) +3.1) 22,859] 21,773
Beverages “| sis7] si170] s.2uif 03] -0.8] +13) 5,647] 5,134] 5,183] 5,342] +5.7] 24,865] 23,287
All other foods, except fi “fats and oils | 15483] 15,527] 16.045] -0.3| -3.2} +1.7] 14,988] 14,758] 16,901] 14,180] +5.7) 76,661] 73,868
Tobacco products . 2627] 3212) 2203) -18.2| +458) -31.5] 2.651] 2,703) 2,671] 2,842) -6.7) 13,284] 12,502
Textile mill products . . ei7i| 6.046] 6131] +21] -14} +17} 6,182] 5,869] 6,373] 5,812) +64] 29,327) 28,314
Broadwoven fabrics and
other textiles . 3,815{ 3,714] 3,811] 42.7] 25] 42.0] 3,918] 3,635] 4,025] 3,689] +6.2) 18,430] 18,025
Paper and allied products 11166] 107894] 10,863] +251 +03] -0.1) 11,095] 10,667] 11,096] 10,728] +3.4] 53,974] 53,612
Pulp, paper, and
paperboard mill products . . 4394) 4.248] 4271) 43.4 -0.5]  -0.4] 4381) 4,149) 4,361] 4,355] +0.6} 21,283] 21,699
Paperboard containers and boxes 2'304]  2'872| 2.793] +0.8] +28] +15} 2.929] 2.922 2,822) 2,677) +94) 13,945] 13,232
Miscellaneous converted
paper products... . . 3,878] 3,774] 3,799] +2.8]  -0.7]_ 1.0] 3,785] 3,596] 3,913] 3,696] +2.4] 18,746] 18,681
Chemicals and allied products 28.072) 27,792| 27.723] +1.0| +0.2} +4.0] 28,492] 28,983] 29,346] 25,920) -+9.9] 138,572] 131,084
Industrial chemicals 14,638 14.256} 14,162) +27) +07] +2.6 14,945] 14,721] 14,782] 13,4761 +10.9] 71,385] 67,796
Drugs, soaps, and toiletries 10.213} 10229] 10.193] -02} +04) +4] 9,427] 9,763] 10,593] 8,623) +9.3] 48,961) 46,713
Petroleum and coal products . . 11717] 11'ggo] 11-712 -1.4] +14} +10) 12,036] 11,586] 10,618] 13,139] 8.4] 54,547) 61,599
Rubber and plastics products 91434] 9300] 9296] +14] 0.0] +3.5] 9,692] 9,514] 9,773) 8,765) +10.6) 46,299) 43,414
All other nondurable goods 23:467| 23297| 23/194] +0.7| +0.4] +29} 22,201} 22,498| 23,137] 20,206] +9.9] 110,614} 102,842

¥ Preliminary. * Revised

* Shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-month variations.

See note at end of table 2 relating to survey variability.