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FOR RELEASE AT 8:30 AM EDT, FRIDAY, MAY 24, 2019

MONTHLY ADVANCE REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND

ORDERS APRIL 2019

Release Number: CB 19‐70 M3‐1 (19)‐04

May 24, 2019 — The U.S. Census Bureau announces the April advance report on manufacturers’

shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in April decreased $5.4 billion or 2.1 percent to $248.4 billion,

the U.S. Census Bureau announced today.  This decrease, down two of the last three months, followed a

1.7 percent March increase.  Excluding transportation, new orders were virtually unchanged.  Excluding

defense, new orders decreased 2.5 percent.  Transportation equipment, also down two of the last three

months, drove the decrease, $5.4 billion or 5.9 percent to $85.4 billion.

Shipments

Shipments of manufactured durable goods in April, down three of the last four months, decreased $4.0

billion or 1.6 percent to $253.3 billion.  This followed a 0.5 percent March decrease.  Transportation

equipment, down four consecutive months, led the decrease, $3.7 billion or 4.1 percent to $85.8 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in April, down two of the last three months, decreased

$0.7 billion or 0.1 percent to $1,179.1 billion.  This followed a 0.1 percent March increase.  Transportation

DURABLE GOODS – NEW ORDERS

APRIL 2019 $248.4 billion             ‐2.1%°   

MARCH 2019  

(revised) $253.8 billion             +1.7%°

Next release: June 26, 2019

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 24,

2019.

May‐18 Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19

% Change 0.8% ‐0.1% ‐0.9% 4.2% 1.5% ‐4.4% 0.6% 1.1% 0.5% ‐2.6% 1.7% ‐2.1%

‐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%

DURABLE GOODS NEW ORDERS 2018‐2019

Seasonally Adjusted,   Month‐To‐Month Percentage Change

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

May 24, 2019.
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equipment, also down two of the last three months, led the decrease, $0.4 billion or 0.1 percent to $810.6

billion.

Inventories

Inventories of manufactured durable goods in April, up nine of the last ten months, increased $1.8 billion

or 0.4 percent to $422.6 billion.  This followed a 0.3 percent March increase.  Transportation equipment,

also up nine of the last ten months, led the increase, $1.5 billion or 1.1 percent to $136.1 billion.   

Capital Goods

Nondefense new orders for capital goods in April decreased $3.9 billion or 5.0 percent to $74.0 billion.  

Shipments decreased $2.4 billion or 3.0 percent to $75.9 billion.  Unfilled orders decreased $2.0 billion or

0.3 percent to $705.3 billion.  Inventories increased $0.9 billion or 0.5 percent to $185.9 billion.  Defense

new orders for capital goods in April increased $0.7 billion or 4.8 percent to $14.7 billion.  Shipments

increased $0.3 billion or 2.6 percent to $12.8 billion.  Unfilled orders increased $1.9 billion or 1.2 percent

to $159.2 billion.  Inventories increased $0.1 billion or 0.6 percent to $23.4 billion.

Revised March Data

Revised seasonally adjusted March figures for all manufacturing industries, based on updated seasonal

adjustment models, were: new orders, $503.5 billion (revised from $506.2 billion); shipments, $507.1

billion (revised from $508.5 billion); unfilled orders, $1,179.8 billion (revised from $1,181.1 billion) and

total inventories, $691.3 billion (revised from $690.7 billion).

Revised and more detailed estimates, plus nondurable goods data, will be published on June 4, 2019, at

10:00 a.m. EDT.  The Advance Report on durable goods for May is scheduled for release on June 26, 2019

at 8:30 a.m. EDT.  View the full schedule in the Economic Briefing Room: <www.census.gov/economic‐

indicators/> 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
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(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‐in‐

process, 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 month‐

to‐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

survey documentation can be found on our web site:  

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

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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NEW TIME SERIES

Beginning with the release of June 2018 data on July 26, 2018, historical estimates of the Monthly Advance

Report on Manufacturers’ Shipments, Inventories and Orders are available on a seasonally adjusted basis

as well as a not seasonally adjusted basis at: <https://www.census.gov/econ/currentdata/>.   

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.

Notice of Revisions and Changes Due to Updated Seasonal Adjustment Models

On May 16, 2019, monthly seasonally adjusted data for Manufacturers’ Shipments, Inventories, and

Orders, based on the North American Industry Classification System, were revised for January 2002

through March 2019.  There was no accompanying press release containing revised seasonally adjusted

data for January through March of 2019, and historical data not seasonally adjusted were unchanged.   

These revisions to the historical seasonally adjusted data were based on the results of the recent annual

review of the seasonal adjustment models.  Based on this review, the lists of series that are seasonally

adjusted and not seasonally adjusted were updated.  Three unfilled orders series and one total inventories

series that have been adjusted are no longer seasonally adjusted.  Conversely, two stage of fabrication

series that have not been adjusted are now seasonally adjusted.  These changes were implemented on

May 16, 2019 and were used to produce seasonally adjusted data from the Manufacturers’ Shipments,

Inventories, and Orders Survey, beginning with the April 2019 Advance Report on Durable Goods released

on May 24, 2019 and the full report scheduled for release on June 4, 2019.

###
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

2019 2 2019 r 2019 Apr 2 Mar r Feb 2019 2 2019 r 2018 2019 2018 2019/2018

DURABLE GOODS

   Total:               

               Shipments................................ 253,302 257,328 258,592 ‐1.6 ‐0.5 0.0 251,736 272,938 243,975 999,971 960,233 4.1

               New Orders4

.............................. 248,395 253,762 249,569 ‐2.1 1.7 ‐2.6 244,930 278,963 245,152 990,386 970,610 2.0

         Excluding transportation:

               Shipments................................ 167,501 167,825 168,963 ‐0.2 ‐0.7 0.7 167,659 174,339 162,948 652,024 632,849 3.0

               New Orders4

.............................. 163,018 163,001 163,901 0.0 ‐0.5 ‐0.3 165,604 172,821 163,307 647,032 635,187 1.9

         Excluding defense:

               Shipments................................ 238,355 242,836 244,179 ‐1.8 ‐0.6 0.4 238,309 256,485 231,458 943,965 910,068 3.7

               New Orders4

.............................. 231,298 237,175 236,896 ‐2.5 0.1 ‐2.1 230,978 257,330 233,548 932,412 920,799 1.3

    Manufacturing with unfilled orders:

               Shipments................................ 176,248 178,624 179,655 ‐1.3 ‐0.6 ‐0.4 173,592 190,341 167,448 692,756 665,147 4.2

               New Orders.............................. 175,522 179,237 175,106 ‐2.1 2.4 ‐3.7 170,626 199,957 172,254 699,442 690,871 1.2

    Primary metals:

               Shipments................................ 21,016 21,116 21,408 ‐0.5 ‐1.4 0.8 21,777 21,976 21,732 85,193 82,986 2.7

               New Orders.............................. 20,864 21,042 21,455 ‐0.8 ‐1.9 0.4 21,767 22,425 22,392 86,724 86,025 0.8

    Fabricated metal products:

               Shipments................................ 33,324 33,698 33,907 ‐1.1 ‐0.6 0.5 33,790 34,400 32,677 131,493 125,529 4.8

               New Orders.............................. 33,278 33,145 33,668 0.4 ‐1.6 ‐2.1 34,804 34,752 34,631 135,286 132,115 2.4

    Machinery:

               Shipments................................ 32,881 32,966 33,439 ‐0.3 ‐1.4 0.4 33,642 35,765 32,539 131,048 127,385 2.9

               New Orders.............................. 32,603 32,560 33,221 0.1 ‐2.0 0.8 33,662 35,265 33,063 132,777 131,088 1.3

    Computers and electronic products 4

:

               Shipments................................ 28,101 27,787 28,074 1.1 ‐1.0 1.7 25,752 29,331 24,359 104,469 99,201 5.3

               New Orders.............................. 23,946 24,047 23,555 ‐0.4 2.1 ‐0.5 22,041 27,113 21,158 90,491 86,392 4.7

         Computers and related products:

               Shipments................................ 1,836 1,750 1,849 4.9 ‐5.4 3.4 1,523 1,913 1,598 6,207 6,203 0.1

               New Orders.............................. 1,822 1,752 1,841 4.0 ‐4.8 0.7 1,509 1,915 1,608 6,227 6,331 ‐1.6

         Communications equipment:

               Shipments................................ 3,838 3,835 3,813 0.1 0.6 0.2 3,479 4,346 3,117 13,992 12,457 12.3

               New Orders.............................. 3,704 3,920 3,556 ‐5.5 10.2 ‐3.5 3,320 4,559 3,244 14,100 13,407 5.2

    Electrical equipment, appliances,    

       and components:                   

               Shipments................................ 11,566 11,549 11,547 0.1 0.0 0.8 11,365 12,016 10,972 44,248 42,806 3.4

               New Orders.............................. 11,687 11,585 11,531 0.9 0.5 1.3 11,580 12,157 11,087 45,179 43,598 3.6

    Transportation equipment:    

               Shipments................................ 85,801 89,503 89,629 ‐4.1 ‐0.1 ‐1.1 84,077 98,599 81,027 347,947 327,384 6.3

               New Orders.............................. 85,377 90,761 85,668 ‐5.9 5.9 ‐6.7 79,326 106,142 81,845 343,354 335,423 2.4

         Motor vehicles and parts:

               Shipments................................ 60,244 62,356 61,706 ‐3.4 1.1 0.1 61,374 67,168 58,910 246,683 230,625 7.0

               New Orders.............................. 60,020 62,119 61,880 ‐3.4 0.4 ‐0.1 60,499 67,146 58,446 246,944 231,112 6.9

         Nondefense aircraft and parts:

               Shipments................................ 10,991 13,083 13,549 ‐16.0 ‐3.4 ‐1.4 9,148 15,476 9,181 46,025 46,666 ‐1.4

               New Orders.............................. 9,182 12,254 11,367 ‐25.1 7.8 ‐29.2 5,277 18,286 11,528 40,576 55,242 ‐26.5

         Defense aircraft and parts:

               Shipments................................ 4,769 4,516 4,636 5.6 ‐2.6 ‐14.0 4,005 5,201 3,653 17,214 16,055 7.2

               New Orders.............................. 5,456 5,590 4,697 ‐2.4 19.0 ‐6.8 4,895 6,728 3,418 18,745 13,493 38.9

    All other durable goods:           

               Shipments................................ 40,613 40,709 40,588 ‐0.2 0.3 0.2 41,333 40,851 40,669 155,573 154,942 0.4

               New Orders.............................. 40,640 40,622 40,471 0.0 0.4 ‐0.3 41,750 41,109 40,976 156,575 155,969 0.4

    Capital goods3

:

               Shipments................................ 88,763 90,805 91,393 ‐2.2 ‐0.6 ‐0.6 84,865 99,425 81,889 346,326 332,956 4.0

               New Orders.............................. 88,684 91,896 86,489 ‐3.5 6.3 ‐7.3 82,317 107,886 84,161 347,918 346,940 0.3

           Nondefense capital goods:

               Shipments................................ 75,919 78,286 78,985 ‐3.0 ‐0.9 0.1 73,120 85,263 70,780 297,791 289,990 2.7

               New Orders.............................. 73,958 77,840 75,890 ‐5.0 2.6 ‐5.9 70,695 89,138 74,125 297,340 303,914 ‐2.2

                Excluding aircraft:

                    Shipments........................... 69,390 69,378 69,821 0.0 ‐0.6 0.3 68,094 74,692 65,378 269,282 259,944 3.6

                    New Orders.......................... 68,766 69,396 69,166 ‐0.9 0.3 0.3 68,179 75,630 66,515 273,000 266,074 2.6

           Defense capital goods:

               Shipments................................ 12,844 12,519 12,408 2.6 0.9 ‐5.0 11,745 14,162 11,109 48,535 42,966 13.0

               New Orders.............................. 14,726 14,056 10,599 4.8 32.6 ‐16.5 11,622 18,748 10,036 50,578 43,026 17.6

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 24, 2019. 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 2019/

2019 2 2019 r 2019 Apr 2 Mar r Feb 2019 2 2019 r 2018 2018

DURABLE GOODS

   Total:                   

               Unfilled Orders 4......................... 1,179,098 1,179,824 1,179,211 ‐0.1 0.1 ‐0.4 1,186,320 1,189,286 1,162,136 2.1

               Total Inventories....................... 422,579 420,750 419,350 0.4 0.3 0.4 424,949 419,780 404,268 5.1

         Excluding transportation:

               Unfilled Orders 4......................... 368,492 368,794 369,439 ‐0.1 ‐0.2 ‐0.2 374,336 372,551 364,258 2.8

               Total Inventories....................... 286,491 286,158 285,137 0.1 0.4 0.0 287,753 285,816 274,908 4.7

         Excluding defense:

               Unfilled Orders 4

........................... 977,333 980,209 981,691 ‐0.3 ‐0.2 ‐0.3 984,037 987,528 982,309 0.2

               Total Inventories....................... 394,800 393,137 391,968 0.4 0.3 0.4 397,094 392,182 377,555 5.2

    Manufacturing with unfilled orders:

               Unfilled Orders......................... 1,179,098 1,179,824 1,179,211 ‐0.1 0.1 ‐0.4 1,186,320 1,189,286 1,162,136 2.1

               Total Inventories....................... 344,681 343,028 341,635 0.5 0.4 0.3 346,618 341,787 329,071 5.3

    Primary metals:

               Unfilled Orders......................... 31,529 31,681 31,755 ‐0.5 ‐0.2 0.1 32,634 32,644 30,917 5.6

               Total Inventories....................... 36,533 36,431 36,661 0.3 ‐0.6 ‐0.1 36,401 36,242 34,274 6.2

    Fabricated metal products:

               Unfilled Orders......................... 85,772 85,818 86,371 ‐0.1 ‐0.6 ‐0.3 87,357 86,343 83,960 4.0

               Total Inventories....................... 54,880 54,978 54,886 ‐0.2 0.2 0.2 55,136 54,986 52,501 5.0

    Machinery:     

               Unfilled Orders......................... 104,366 104,644 105,050 ‐0.3 ‐0.4 ‐0.2 105,529 105,509 105,040 0.5

               Total Inventories....................... 71,748 71,624 70,934 0.2 1.0 ‐0.2 72,165 71,710 68,208 5.8

    Computers and electronic products4

:

               Unfilled Orders......................... 118,116 118,090 117,651 0.0 0.4 0.0 119,336 119,207 115,008 3.8

               Total Inventories....................... 43,375 43,397 43,231 ‐0.1 0.4 ‐0.2 43,683 42,893 43,630 0.1

         Computers and related products:

               Unfilled Orders......................... 2,215 2,229 2,227 ‐0.6 0.1 ‐0.4 2,215 2,229 2,006 10.4

               Total Inventories....................... 3,734 3,869 3,834 ‐3.5 0.9 3.6 3,674 3,729 3,611 1.7

         Communications equipment:

               Unfilled Orders......................... 25,935 26,069 25,984 ‐0.5 0.3 ‐1.0 26,201 26,360 26,009 0.7

               Total Inventories....................... 5,574 5,544 5,482 0.5 1.1 0.3 5,589 5,461 5,373 4.0

    Electrical equipment, appliances,    

        and components:                   

               Unfilled Orders......................... 19,525 19,404 19,368 0.6 0.2 ‐0.1 19,886 19,671 19,824 0.3

               Total Inventories....................... 20,237 20,171 20,079 0.3 0.5 1.2 20,503 20,265 18,658 9.9

    Transportation equipment:    

               Unfilled Orders......................... 810,606 811,030 809,772 ‐0.1 0.2 ‐0.5 811,984 816,735 797,878 1.8

               Total Inventories....................... 136,088 134,592 134,213 1.1 0.3 1.1 137,196 133,964 129,360 6.1

         Motor vehicles and parts:

               Unfilled Orders......................... 27,054 27,278 27,515 ‐0.8 ‐0.9 0.6 27,453 28,328 26,994 1.7

               Total Inventories....................... 38,049 37,758 37,839 0.8 ‐0.2 1.2 38,126 37,663 35,624 7.0

         Nondefense Aircraft and parts:

               Unfilled Orders......................... 591,927 593,736 594,565 ‐0.3 ‐0.1 ‐0.4 592,739 596,610 601,686 ‐1.5

               Total Inventories....................... 69,139 68,223 67,988 1.3 0.3 1.3 70,181 67,815 66,555 5.4

         Defense Aircraft and parts:       

               Unfilled Orders......................... 83,364 82,677 81,603 0.8 1.3 0.1 83,720 82,830 69,932 19.7

               Total Inventories....................... 13,400 13,197 13,335 1.5 ‐1.0 0.1 13,425 13,140 12,748 5.3

    All other durable goods:           

               Unfilled Orders......................... 9,184 9,157 9,244 0.3 ‐0.9 ‐1.2 9,594 9,177 9,509 0.9

               Total Inventories....................... 59,718 59,557 59,346 0.3 0.4 0.0 59,865 59,720 57,637 3.9

    Capital goods3

:

               Unfilled Orders......................... 864,538 864,617 863,526 0.0 0.1 ‐0.6 868,789 871,337 863,077 0.7

               Total Inventories....................... 209,246 208,205 206,757 0.5 0.7 0.2 210,474 207,360 199,703 5.4

           Nondefense capital goods:

               Unfilled Orders......................... 705,336 707,297 707,743 ‐0.3 ‐0.1 ‐0.4 708,969 711,394 716,736 ‐1.1

               Total Inventories....................... 185,867 184,963 183,735 0.5 0.7 0.2 187,044 184,076 177,409 5.4

                Excluding aircraft:               

                    Unfilled Orders.................... 220,560 221,184 221,166 ‐0.3 0.0 ‐0.3 223,063 222,978 220,620 1.1

                    Total Inventories................... 129,041 128,983 128,099 0.0 0.7 0.0 129,348 128,403 122,993 5.2

           Defense capital goods:

               Unfilled Orders......................... 159,202 157,320 155,783 1.2 1.0 ‐1.1 159,820 159,943 146,341 9.2

               Total Inventories....................... 23,379 23,242 23,022 0.6 1.0 0.3 23,430 23,284 22,294 5.1

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 24, 2019. 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>.