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FOR RELEASE AT 8:30 AM EDT, THURSDAY, MAY 28, 2020

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS, 

INVENTORIES AND ORDERS APRIL 2020

Release Number: CB 20-73 M3-1 (20)-04

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>.

May 28, 2020 — The U.S. Census Bureau announces the April advance report on durable goods 

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in April decreased $35.4 billion or 17.2 percent to $170.0

billion, the U.S. Census Bureau announced today. This decrease, down three of the last four months, 

followed a 16.6 percent March decrease. Excluding transportation, new orders decreased 7.4 percent. 

Excluding defense, new orders decreased 16.2 percent. Transportation equipment, also down three of the 

last four months, led the decrease, $23.9 billion or 47.3 percent to $26.6 billion.

DURABLE GOODS – NEW ORDERS

APRIL 2020 $170.0 billion -17.2%°

MARCH 2020

(revised) $205.3 billion -16.6%°

Next release: June 25, 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, May 28, 

2020.

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

% Change -4.7% -1.5% 0.1% 2.5% 0.5% -0.9% -0.1% -2.6% 2.8% -0.2% 2.0% -16.6% -17.2%

-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%

DURABLE GOODS NEW ORDERS 2019-2020

Seasonally Adjusted, Month-To-Month Percentage Change

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

May 28, 2020.
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Shipments 

Shipments of manufactured durable goods in April, down three of the last four months, decreased $41.5 

billion or 17.7 percent to $192.3 billion. This followed a 5.5 percent March decrease. Transportation 

equipment, also down three of the last four months, led the decrease, $31.4 billion or 42.7 percent to 

$42.1 billion. 

Unfilled Orders 

Unfilled orders for manufactured durable goods in April, down two consecutive months, decreased $17.5 

billion or 1.6 percent to $1,107.8 billion. This followed a 2.1 percent March decrease. Transportation 

equipment, also down two consecutive months, led the decrease, $15.5 billion or 2.0 percent to $759.9 

billion. 

Inventories 

Inventories of manufactured durable goods in April, up two consecutive months, increased $0.7 billion or 

0.2 percent to $425.6 billion. This followed a 0.6 percent March increase. Transportation equipment, up 

twenty-one of the last twenty-two months, led the increase, $0.4 billion or 0.3 percent to $143.0 billion. 

Capital Goods 

Nondefense new orders for capital goods in April increased $3.8 billion or 8.2 percent to $50.1 billion. 

Shipments decreased $9.2 billion or 12.6 percent to $63.8 billion. Unfilled orders decreased $13.7 billion 

or 2.2 percent to $624.8 billion. Inventories increased $0.2 billion or 0.1 percent to $190.3 billion. 

Defense new orders for capital goods in April decreased $4.9 billion or 30.8 percent to $11.0 billion. 

Shipments increased $0.5 billion or 3.9 percent to $12.5 billion. Unfilled orders decreased $1.5 billion or 

0.8 percent to $178.9 billion. Inventories increased $0.3 billion or 1.4 percent to $21.1 billion. 

Revised and Recently Benchmarked March Data

Revised seasonally adjusted March figures for all manufacturing industries were: new orders, $441.6 

billion (revised from $445.0 billion); shipments, $470.1 billion (revised from $472.2 billion); unfilled orders, 

$1,125.3 billion (revised from $1,126.5 billion) and total inventories, $690.0 billion (revised from $690.6 

billion). 
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Revised and more detailed estimates, plus nondurable goods data, will be published on June 3, 2020, at 

10:00 a.m. EDT. The Advance Report on durable goods for May is scheduled for release on June 25, 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>.

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 
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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 

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. 
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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/> 

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

Apr Mar Feb Mar - Feb - Jan - Apr Mar Apr Change

2020 2 2020 r 2020 Apr 2 Mar r Feb 2020 2 2020 r 2019 2020 2019 2020/2019

DURABLE GOODS

 Total: 

 Shipments................................ 192,326 233,796 247,276 -17.7 -5.5 0.8 191,213 250,302 246,801 902,043 980,365 -8.0

 New Orders4

.............................. 169,966 205,345 246,195 -17.2 -16.6 2.0 168,958 229,679 239,157 858,722 969,462 -11.4

 Excluding transportation:

 Shipments................................ 150,221 160,263 162,454 -6.3 -1.3 -0.2 149,267 168,773 162,674 621,440 632,373 -1.7

 New Orders4

.............................. 143,332 154,831 157,451 -7.4 -1.7 -0.3 144,181 165,858 159,678 610,575 624,978 -2.3

 Excluding defense:

 Shipments................................ 178,004 220,093 233,075 -19.1 -5.6 0.9 177,761 235,289 233,897 847,635 926,957 -8.6

 New Orders4

.............................. 157,561 187,956 227,531 -16.2 -17.4 0.1 158,010 207,849 226,002 797,601 913,360 -12.7

 Manufacturing with unfilled orders:

 Shipments................................ 146,457 168,244 172,283 -12.9 -2.3 0.4 144,934 181,604 171,181 647,123 682,423 -5.2

 New Orders.............................. 128,970 144,485 176,028 -10.7 -17.9 2.1 126,974 165,115 167,978 622,207 690,219 -9.9

 Primary metals:

 Shipments................................ 17,062 19,057 19,505 -10.5 -2.3 -0.5 17,827 20,352 21,186 77,077 83,170 -7.3

 New Orders.............................. 15,985 18,541 19,376 -13.8 -4.3 -1.1 16,661 19,948 21,069 76,382 84,180 -9.3

 Fabricated metal products:

 Shipments................................ 27,979 30,839 31,864 -9.3 -3.2 0.3 28,273 31,789 31,882 120,493 123,700 -2.6

 New Orders.............................. 26,703 30,350 31,455 -12.0 -3.5 -1.4 27,453 32,200 32,741 121,386 126,521 -4.1

 Machinery:

 Shipments................................ 28,522 30,825 31,367 -7.5 -1.7 -1.7 28,599 33,888 32,729 121,519 126,881 -4.2

 New Orders.............................. 28,856 30,963 31,521 -6.8 -1.8 -0.1 29,170 33,846 32,671 124,929 130,131 -4.0

 Computers and electronic products4

:

 Shipments................................ 28,533 28,426 28,659 0.4 -0.8 0.2 26,076 30,516 26,437 108,209 106,913 1.2

 New Orders.............................. 23,672 23,751 23,920 -0.3 -0.7 0.2 22,040 27,045 22,295 91,678 90,748 1.0

 Computers and related products:

 Shipments................................ 1,751 1,763 1,809 -0.7 -2.5 -2.6 1,450 2,041 1,447 6,397 5,938 7.7

 New Orders.............................. 1,717 1,734 1,804 -1.0 -3.9 -2.7 1,416 2,012 1,435 6,326 5,956 6.2

 Communications equipment:

 Shipments................................ 3,746 3,748 3,649 -0.1 2.7 0.5 3,410 4,403 3,236 13,754 13,033 5.5

 New Orders.............................. 3,703 3,641 3,619 1.7 0.6 -1.0 3,466 4,402 3,236 14,094 13,506 4.4

 Electrical equipment, appliances, 

 and components: 

 Shipments................................ 10,336 11,234 11,118 -8.0 1.0 1.8 10,142 11,939 10,692 42,129 41,558 1.4

 New Orders.............................. 10,409 11,293 11,210 -7.8 0.7 2.1 10,404 12,147 10,895 43,376 42,516 2.0

 Transportation equipment: 

 Shipments................................ 42,105 73,533 84,822 -42.7 -13.3 2.8 41,946 81,529 84,127 280,603 347,992 -19.4

 New Orders.............................. 26,634 50,514 88,744 -47.3 -43.1 6.4 24,777 63,821 79,479 248,147 344,484 -28.0

 Motor vehicles and parts:

 Shipments................................ 22,624 47,994 59,307 -52.9 -19.1 1.5 23,605 52,221 60,679 190,115 243,244 -21.8

 New Orders.............................. 22,600 47,884 59,397 -52.8 -19.4 1.4 23,198 52,000 60,059 190,479 243,236 -21.7

 Nondefense aircraft and parts5

:

 Shipments................................ 4,485 10,761 9,570 -58.3 12.4 17.7 3,928 13,077 9,420 30,978 48,150 -35.7

 New Orders.............................. -8,513 -16,024 8,716 (NA) -283.8 -0.5 -9,791 -10,762 5,624 -8,498 42,686 -119.9

 Defense aircraft and parts:

 Shipments................................ 4,244 3,833 4,397 10.7 -12.8 -7.9 3,710 4,347 4,179 15,727 17,885 -12.1

 New Orders.............................. 4,055 6,026 4,436 -32.7 35.8 0.7 3,530 7,633 5,079 16,704 19,419 -14.0

 All other durable goods: 

 Shipments................................ 37,789 39,882 39,941 -5.2 -0.1 -0.3 38,350 40,289 39,748 152,013 150,151 1.2

 New Orders.............................. 37,707 39,933 39,969 -5.6 -0.1 -0.3 38,453 40,672 40,007 152,824 150,882 1.3

 Capital goods3

:

 Shipments................................ 76,286 84,992 84,686 -10.2 0.4 1.2 72,869 94,085 82,082 318,415 335,313 -5.0

 New Orders.............................. 61,074 62,164 88,311 -1.8 -29.6 7.4 58,015 77,700 79,114 290,820 339,647 -14.4

 Nondefense capital goods:

 Shipments................................ 63,825 72,995 72,313 -12.6 0.9 1.7 61,017 81,025 70,735 270,822 288,791 -6.2

 New Orders.............................. 50,087 46,293 71,483 8.2 -35.2 1.5 48,050 57,874 68,176 235,229 290,369 -19.0

 Excluding aircraft:

 Shipments........................... 61,824 65,370 66,157 -5.4 -1.2 -0.6 59,431 71,620 65,065 252,638 256,622 -1.6

 New Orders.......................... 61,944 65,750 66,453 -5.8 -1.1 -0.6 60,231 72,474 65,000 259,083 262,439 -1.3

 Defense capital goods:

 Shipments................................ 12,461 11,997 12,373 3.9 -3.0 -1.8 11,852 13,060 11,347 47,593 46,522 2.3

 New Orders.............................. 10,987 15,871 16,828 -30.8 -5.7 43.4 9,965 19,826 10,938 55,591 49,278 12.8

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 April 2020 for Nondefense aircraft and parts because the denominator has a negative value. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, April Advance Report, May 28, 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

Apr Mar Feb Mar - Feb - Jan - Apr Mar Apr 2020/

2020 2 2020 r 2020 Apr 2 Mar r Feb 2020 2 2020 r 2019 2019

DURABLE GOODS

 Total: 

 Unfilled Orders4......................... 1,107,809 1,125,296 1,149,055 -1.6 -2.1 0.3 1,117,226 1,135,186 1,172,056 -4.7

 Total Inventories....................... 425,574 424,876 422,492 0.2 0.6 -0.1 427,354 423,924 414,174 3.2

 Excluding transportation:

 Unfilled Orders4

......................... 347,949 349,965 350,705 -0.6 -0.2 -0.1 352,665 353,456 355,318 -0.7

 Total Inventories....................... 282,578 282,311 280,772 0.1 0.5 -0.3 283,851 282,078 285,466 -0.6

 Excluding defense:

 Unfilled Orders4

........................... 886,623 902,193 929,638 -1.7 -3.0 -0.1 893,665 909,121 962,855 -7.2

 Total Inventories....................... 400,211 399,824 397,442 0.1 0.6 -0.1 401,995 398,846 389,550 3.2

 Manufacturing with unfilled orders:

 Unfilled Orders......................... 1,107,809 1,125,296 1,149,055 -1.6 -2.1 0.3 1,117,226 1,135,186 1,172,056 -4.7

 Total Inventories....................... 347,256 346,667 344,408 0.2 0.7 0.0 349,011 345,707 336,136 3.8

 Primary metals:

 Unfilled Orders......................... 30,050 31,127 31,643 -3.5 -1.6 -0.4 30,764 31,930 31,946 -3.7

 Total Inventories....................... 35,759 36,014 35,504 -0.7 1.4 0.0 35,776 35,879 37,046 -3.4

 Fabricated metal products:

 Unfilled Orders......................... 72,329 73,605 74,094 -1.7 -0.7 -0.5 73,343 74,163 75,737 -3.2

 Total Inventories....................... 53,474 53,277 53,225 0.4 0.1 -0.4 53,741 53,314 54,234 -0.9

 Machinery: 

 Unfilled Orders......................... 96,927 96,593 96,455 0.3 0.1 0.2 98,138 97,567 100,312 -2.2

 Total Inventories....................... 71,241 71,497 71,133 -0.4 0.5 -0.2 71,479 71,607 72,202 -1.0

 Computers and electronic products4

:

 Unfilled Orders......................... 118,506 118,494 118,477 0.0 0.0 0.1 119,616 119,357 118,157 1.2

 Total Inventories....................... 44,208 44,007 43,740 0.5 0.6 -0.7 44,593 43,489 44,155 1.0

 Computers and related products:

 Unfilled Orders......................... 1,937 1,971 2,000 -1.7 -1.5 -0.2 1,937 1,971 2,009 -3.6

 Total Inventories....................... 3,838 3,779 3,724 1.6 1.5 -1.7 3,709 3,595 3,580 3.6

 Communications equipment:

 Unfilled Orders......................... 25,636 25,679 25,786 -0.2 -0.4 -0.1 25,929 25,873 25,911 0.1

 Total Inventories....................... 5,258 5,223 5,129 0.7 1.8 0.3 5,264 5,200 5,221 0.8

 Electrical equipment, appliances, 

 and components: 

 Unfilled Orders......................... 21,636 21,563 21,504 0.3 0.3 0.4 22,030 21,768 20,764 6.1

 Total Inventories....................... 19,886 19,818 19,783 0.3 0.2 -0.5 20,139 19,931 20,114 0.1

 Transportation equipment: 

 Unfilled Orders......................... 759,860 775,331 798,350 -2.0 -2.9 0.5 764,561 781,730 816,738 -6.4

 Total Inventories....................... 142,996 142,565 141,720 0.3 0.6 0.4 143,503 141,846 128,708 11.5

 Motor vehicles and parts:

 Unfilled Orders......................... 20,648 20,672 20,782 -0.1 -0.5 0.4 21,112 21,519 21,895 -3.6

 Total Inventories....................... 40,112 39,748 39,902 0.9 -0.4 0.3 40,096 39,644 39,072 2.6

 Nondefense Aircraft and parts:

 Unfilled Orders......................... 518,222 531,220 558,005 -2.4 -4.8 -0.2 520,498 534,217 584,840 -11.0

 Total Inventories....................... 73,705 73,964 73,104 -0.4 1.2 0.4 74,342 73,456 62,284 19.4

 Defense Aircraft and parts: 

 Unfilled Orders......................... 85,411 85,600 83,407 -0.2 2.6 0.0 86,014 86,194 81,712 5.3

 Total Inventories....................... 12,297 12,195 12,217 0.8 -0.2 0.4 12,327 12,125 12,025 2.5

 All other durable goods: 

 Unfilled Orders......................... 8,501 8,583 8,532 -1.0 0.6 0.3 8,774 8,671 8,402 4.4

 Total Inventories....................... 58,010 57,698 57,387 0.5 0.5 -0.3 58,123 57,858 57,715 0.7

 Capital goods3

:

 Unfilled Orders......................... 803,721 818,933 841,761 -1.9 -2.7 0.4 810,678 825,532 870,352 -6.9

 Total Inventories....................... 211,435 210,939 209,478 0.2 0.7 0.0 212,118 209,945 198,995 6.6

 Nondefense capital goods:

 Unfilled Orders......................... 624,788 638,526 665,228 -2.2 -4.0 -0.1 629,071 642,038 701,876 -10.4

 Total Inventories....................... 190,292 190,096 188,604 0.1 0.8 0.1 191,009 189,006 178,486 7.0

 Excluding aircraft: 

 Unfilled Orders.................... 216,377 216,257 215,877 0.1 0.2 0.1 218,579 217,779 219,232 -0.3

 Total Inventories................... 128,953 128,491 127,638 0.4 0.7 -0.2 129,092 127,932 127,773 1.0

 Defense capital goods:

 Unfilled Orders......................... 178,933 180,407 176,533 -0.8 2.2 2.6 181,607 183,494 168,476 7.8

 Total Inventories....................... 21,143 20,843 20,874 1.4 -0.1 -0.3 21,109 20,939 20,509 2.9

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, April Advance Report, May 28, 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>.