Table 4. VALUE OF MANUFACTURERS’ INVENTORIES FOR INDUSTRY GROUPS
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent

change

Jan. Dee. Nov.| Dec.-]_ Nov-|  Oct- Jan. Dec. Nov. Jan, Jan.

1996" 1995" 1995 Jan.|  Dec.] Nov. 1996" 1995" 1995 1995] 96/95

All manufacturing industries ..... 421,504} 418,527] 417,586 +0.7 +0.2 0.0} 419,165] 408,504] 416,838) 394,792 +62
Manufacturing industries

with unfilled orders ........ ++ | 284,427] 281,899] 281,141) +09] +03] +01] 281,462] 273,212] 280,250] 261,106] +7.8

without defense capital goods ..... 400,689 | 397,648] 396,707] +08] +02] +0.1] 398,931] 388,512] 395,891} 372,755] +7.0

Durable goods industries

266,270} 263,916] 263,517 40.9 +0.2 +0.1] 264,823 | 256,895] 263,591] 248,914 +64
With unfilled orders

244,543 | 242,239| 241,526 +10 40.3 40.1 | 242,493] 235,175] 241,423} 226,981 +6.8

Stone, clay, and glass products 8,242 8,234 8,326 +0.1 -Ll “Ll 8,195 8,018 8,033 7,765 +55
Primary metals 21,944 21,853 21,823 +0.4 +0.1 0.0 21,943 21,732 21,704 21,137 +38
Blast furnaces, steel mills 10,649 10,541 10,401 +10 +13 0.2 10,798 10,674 10,458 10,079 47.1

Iron and steel foundries
Nonferrous and other primary

1,656 1,651 1,632 +03 +12 0.9 1,651 1,627 1,590 1,602 43.1

metals. 9,639] 9661] 9,790] -02| 9-13] +04] «= 9,494] 9,431 9,656| 9,456} 40.4
Fabricated metal products ++ | 24,705] 24,770] 24,980] 03] = -08] = -05} 24,535] 24,166] 24,480] 24,353] 40.7
Industrial machinery and equipment : 55,216] 54,314] 54,124] 41.7] 40.4] +15] 55,175] 52,565] 54,786] 50,676] +8.9

Engines and turbines. “ 3,741 371| 3.734, -08} +10) -0.1 3,529} 3,488] 3,874] 3,614] -2.4
Farm and garden machinery... . 2,717] 2,695] 2,713} +08] = 0.7] -+5.0] = 3,016] 2,891 2,824] 3,101 27

Construction, mining and
material handling equipment.

6556] 6,518] 6,520] +06 oo] 02] 6563] 6330] 6463] 6,234] +53
Metalworking machinery

6,645 6,401 6,381 4+3.8 +03 +05 6,552 6,097 6,364 5,735 +142

Computer and office equipment... | 42918] 12.557) 121492] 429] 405] +30) 12905] 111893] 12900| 11.465] +126
Electronic and other
electrical equipment ........... 47,954] 47,412] 46,838 +11 +12 -0.5| 47,482] 45,652] 46,360] 40,849] +16.2

Electrical transmission and
distribution equipment and
industrial apparatus
Household appliances .
Electric lighting and
wiring equipment .......... : 3,291 3,290] 3,319 0.0 09} 02] 3,196] 3,109] 3,290] 3,060} -+4.4
Household audio and
video equipment ........
Communications equipment
Electronic components . .
Transportation equipment
Motor vehicles and parts .

4,644 4,874 4,902 47 0.6 0.6 4,568 4,718 4,910 4,715 31
2,700 2,719 2,718 0.7 0.0 0.5 2,684 2,496 2,573 2,830 5.2

1,823] 1,695 1667] +76
15,876] 15,667] 15510] +13
15,709] 15,327] 14897] +25,
59,561] 58,841] 58.952] +12
12,150] 11,932] 11,961] #18

06] 1,730] 1,568] 1,568] 1,287] +344
22] 15,774] 15,002] 15,245] 12,888] 422.4
+10] 15,725] 15,085] 15,037] 12,604] +24.8
07] 59,194] 57,248] 59,827] 58,234] +1.6
-04] 12,286] 11,739] 12,200] 12,270] -+0.1

Aircraft,
space v 42,674] 42,228) 42,098] +11] 40.3] = -0.7] 42,120] 40,907] 42,739] 41,461] +16
Shipb : 1,678 1,695 1710] -L0} 09] +19] 1.661 1,624 1,695 1508) +10.1
Instruments and related products .... | 23,075] 22,896] 22,782] +08] + +05| +07] 22,508] 22,223] 22,972] 21,279] +3.8
Search and navigation equipment 5,751 5,698] 5,603] +09} +171 +30] 5555] 5563] Seis] 5,333] +42
Measuring and controlling devices . 7479) 7,417] 7,429] +08] = -021 «409 97374] 7:21 7,479) 6,695] +10.1
Medical instruments and Supplies . 6.470} 6,369] 6315] +16] +09] -06] 6347] 6,230] 6413] 5,986] +6.0
Photographic goods . . an 2,526 2,544 2,564 0.7 08 -Ll 2,397 2,340 2,587 2,401 0.2

All other durable goods .

25,573 25,596 25,692 0.1 04 40.5 25,791 25,291 25,429 24,621 +48

Nondurable goods industri
With unfilled orders
Food and kindred produ
Meat products :
Dairy products -
Beverages ...
All other foods, except fats and
Tobacco products... .
Textile mill products... .
Broadwoven fabrics and

155,234} 154,611] 154,069 +04 +04 0.0} 154,342} 151,609] 153,247} 145,878 +5.8
39,884 39,660 39,615 +06 +0.1 +03 38,969 38,037 38,827 34,125] +14.2
31,546 31,594 31,541 0.2 +02 0.0 32,062 31,857 32,964 31,688 +12

4,053 4,002 3,893 +13 +2.8 +12 4,004 3,777 3,876 3,384 +18.3
2,774 2,787 2,686 0.5 +38 +0.6 2,727 2,643 2,604 2,709 +0.7
5,339 5,351 $,403 0.2 -1.0 0.2 $,318 5,313 5,474 5,270 +09
17,422 17,514 17,644 0.5 0.7 0.6 17,875 18,062 18,964 18,584 38
5,584 5,570 5,526 +03 +0.8 0.7 5,997 5,834 5,535 6,013 -0.3
10,402 10,456 10,501 0.5 04 +0.5 10,311 9,932 10,196 9,811 45.1

other textiles... . wees 5,761 5,796] 5,827] -06] = -0.5 00] 5,761 5,553] 5,740] 5,526] +43
Paper and allied products ...... ++] 16,927] 16,827] 16,672] +06] +09} +03] 16815] 16537] 16373] 13,916] +208
Pulp, paper, and
paperboard mill products ...... 7,132 7,043 6,954 +13 +13 42.4 7,146 6,964 6,854 5,477] 430.5
Paperboard containers and boxes . . 4,421 4451} 4524] 07 06] 4,359} 4,399) 4.401 3,677| +185
Miscellancous converted
Paper products 5,374] 5,333] 5,194] +0.8 -17{ 5,310] 5,174] 5,118} 4,762] 411.5

Chemicals and allied products
Industrial chemicals... . .
Drugs, soaps, and toiletries.

Petroleum and coal products . |

Rubber and plastics products.

All other nondurable goods . -

35,985 35,924 35,721 +0.2
17,774 17,893 18,009 0.7
13,449 13,311 12,993 +10

0.6 35,924 35,619 35,386 34,523 +4.1
0.5 17,934 17,974 17,776 17,154 +45
-15 13,019 12,899 12,969 12,601 +33
11,368 11,195 10,661 +15 +13 10,938 10,625 10,698 10,517 +4.0
13,979 13,913 14,075 40.5 2 0.5 13,992 13,708 13,820 13,492 43.7
29,443 29,132 29,372 +11 0.8 +02 28,303 27,497 28,275 25,918 49.2

° Preliminary. ‘ Revised.
Sce note at end of table 2 relating to survey variability.


10 Total Manufacturing

New Orders and Shipments

Three Month Moving Averages
Billions of Dollars
340 340

New Orders

320 f- --------------- 2-22-27 +--+ ---------4 Shipments | 320

300 300

280 280

260 260

Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov’ Jan
Jan. 1994 - Jan. 1996

Total Manufacturing
Ratio of Unfilled Orders and
Inventories to Shipments

/S Ratios UO/S Ratios
2.5 — 3.9
24F-- rr te vos [13.8
2.3F-------- vs [43.7
2.2F------- === 3.6
2.1fF------- 3.5
2t------- 3.4
1.9F------- 3.3
1.8F------- 3.2
1.7 3.1
1.6 3
1.5 2.9
1.4 2.8
1.3 2.7
1.2 L 1 1 1 1 1 L 1 L L L 1 1 2.6

Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan
Jan. 1994 - Jan. 1996
Note: All Charts based on seasonally
adjusted current dollars.


Table 6. VALUE OF MANUFACTURERS’ UNFILLED ORDERS AND TOTAL INVENTORIES

FOR TOPICAL SERIES'

r ns of dollars)
Seasonally adjusted Not seasonally adjusted
Industry Monthly Percent Change Monthly Percent
° change
Jan. Dec. Nov. | Dec.- | Nov- | Oct- Jan. Dec. Nov. Jan. | Jan.
1996" 1995" 1995 | Jan. | Dec. | Nov. | 1996" 195° 1995 1995 | 96/95
UNFILLED ORDERS
All manufacturing industries 474,931 | 467,045 | 463,485 | +1.7| +08] +0.1 | 475,600 | 461,357 | 457,355 | 461,083 43.1
Market categories :
Automotive equipment . . . 1,943 1,891 1909 | 427] -09] 38 1,976 1,862 1,868 | 2,205 | -104
Home goods and apparel 9,469 9,476 9,582 01 “ll 423 9,010 8,007 8,445 9,691 +7.0
Consumer staples . 1,781 1,737 rgia | 425] 42] +04 1,779 1772 1,825 1,634 489
Machinery and equipment . 200,258 | 194,554 | 190,297 | +29] +22 | +1.0 | 200,622 | 193,563 | 190,145 | 183,382 49.4
Business supplies... . 6178 | 6107 | 6.252} +12] -23] +23 | 6065] 5952] 6074 5,955 +18
Construction materials
and supplies. 15,806 | 15,710 | 15,745 | +0.6 | -0.2 -05 | 15,610 | 15,349 | 15,383 | 15,970 23
Defense products . 103,904 | 102,720 | 101,842 | +12] +09 | -08 | 104,712 | 103,389 | 100,591 | 106,976 21
Other materials, supplies and
and intermediate products ...... 135,592 | 134,850 | 136,043 | +06] -0.9 -0.5 | 135,826 | 131,463 | 133,024 | 135,270 +04
Durable goods industries :
Nondefense capital goods ° 219,028 | 212,912 | 208,911 +2.9 +19 +1.0 | 219,755 | 212,326 | 209,231 | 202,851 +83
Excluding aircraft and parts | 99,822 | 98,216 | 99,322 +16 “Ll +0.4 | 100,549 | 97,630 | 99,642 | 94,535 +64
Defense capital goods * ++ | 109,111 | 107,821 | 107,016 | +12} +08] -0.8 | 109,864 | 108,285 | 105,749 | 112,800 2.6
Durables excluding capital ‘goods 123,610 | 123,345 | 123,863 40.2 04 -0.8 | 123,446 | 118,848 | 119,734 | 120,278 42.6
Miscellaneous series :
Producers’ durable equipment .... | 235,258 | 229,893 | 225,588 423 +19 40.7 | 235,609 | 227,681 | 224,672 | 217,985 +8.1
Household durable goods ..... .. 5.983 | 6,028 5,079 07] 08] +15 , 5,119 5520 , “1
Information technology industries . 40,529 | 39,937 | 40,441 41S 12 +03 | 39,933 | 39,480 | 40,932 | 37,755 $5.8
Health care equipment
and products ........... 6,065 | 5,970} 6019] +16] -08 0.0 | 6,063 5,969 | 6,020 | 6,347 45
TOTAL INVENTORIES
All manufacturing industries ..... 421,504 | 418,527 | 417,586 40.7 +0.2 0.0 | 419,165 | 408,504 | 416,838 | 394,792 46.2
Market categories :
Automotive equipment . . 6648 | 6560] 6595] +13] -05| -05 | 6734] 6425] 6672 | 6,504 43.5
Home goods and apparel 34,328 | 34,089 | 34,209] +07] -04] +01 | 33,783 | 32,517 | 32,698 | 32,163 +5.0
Consumer staples... . . 60,296 x 59,256 | +04] +13] -02 | 60,266 | 59,558 | 60,413 | 58,567 429
Machinery and equipment . 106,425 | 104,734 | 104,309 | +16 | +04 | +0.5 | 105,776 | 101.301 | 105,281 | 95.651 | +106
Business supplies . . 24,173 | 24,018 | 23,934 | +06] +04] +03 | 23,582 | 22988 | 23,651 | 21,813 +8.1
Construction mat
and supplies. . . 26,530 | 26,490 | 26613] +02} 05 0.0 | 26,359 | 25,818 | 26,082 | 25,333 44.1
Defense products . . 20,421 | 20,568 | 20,479 07] +04] -1.7 | 19,912 | 19,815 | 20,487 | 21,394 69
Other materials, supplies and
and intermediate products ...... 142,683 | 142,025 | 142,191 40.5 0.1 40.1 | 142,753 | 140,082 | 141,554 | 133,367 47.0
Durable goods industries :
Nondefense capital goods * 101,185 | 99,721 | 99,329 +15] +04 | +05 | 100,442 | 96,221 | 100,166 | 90,350 | +112
Excluding aircraft and parts 72,746 | 71,748 | 71,439 +14 +04 +03 | 72,144 | 68,867 | 71,741 | 64,582 | +11.7
Defense capital goods * .. . 20,815 | 20,879 | 20,879 03 00 | -20 | 20,234 | 19,992 | 20,947 | 22,037 “8.2
Durables “excluding capital goods 144,270 | 143,316 | 143,309 +0.7 0.0 | +01 | 144,147 | 140,682 | 142,478 | 136,527 +56
Miscellaneous series :
Producers’ durable equipment . 167,352 | 165,686 | 165,292 +10 +0.2 +0.4 | 166,434 | 160,785 | 165,802 | 154,324 +78
Household durable goods ....... | 15,168 | 15,065 | 14976 | +07] +06] +04 | 15,045 | 14423 | 14491 | 14346 +49
Information technology industries 39,616 | 38,943 | 38,638 +17 40.8 +0.2 | 39,258 | 37,216 | 38,993 | 34,110 +151
Health care equipment
and products ............... 13,791 | 13,617 | 13,307 | +13 | +16] -11 | 13,439 | 13,256 | 13,480 | 12,854 +46

See footnotes at end of table 5.

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


Table 5. VALUE OF MANUFACTURERS’ SHIPMENTS AND NEW ORDERS
FOR TOPICAL SERIES’
(Millions of dollars)

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

Jan. Dec. Nov. | Dec.- | Nov.-} Oct- Jan. Dec. Nov. Jan. Jan.
1996" 1995" 1995 | Jan.} Dec.] Nov.] 1996? 1995" 1995 1995 | 96/95 1996" 1995

SHIPMENTS
All manufacturing industries... . . | 303,166] 305,907] 303,726] -0.9]_ +0.7|  +0.4} 273,845] 302,720} 303,919] 268,357]  +2.0] 273,845] 268,357

Market categories :
Automotive equipment . .
Home goods and apparel
Consumer staples... .
Machinery and equipment .
Business supplies
Construction materials

and supplies...
Defense products .
Other materials, supplies

14,270] 14,357] 14,303] -0.6) +04] —-0.9} 13,190] 12,758) 14,530] 13,494 -2.3 13,190} 13,494
19,138] 19,747] 19,719) -3.1] +0.1] +02) 16,496) 17,191] 20,721] 17,139] 3.8 16,496} 17,139
64,200) 63,070) 62,195} +18) +14) +0.7]| 59,582] 63,781} 63,000} 55,369) +76 59,582! 55,369
54,753] 56,635] 56,169] -3.3] +0.8] +1.8) 46,454) 62,480] 55,566) 44,799] +3.7] 46,454) 44,799
23,011} 23,097) 22,862{ -0.4) +1. +13] 21,088] 22,544) 23,298] 20,397) +34 21,088| 20,397

16,251] 16,750] 18,364] 16,619} 22.2. 16,251 16,619
5,597] 7,998] 6,617) 6,133) 8.7 5,597 6,133

18,581} 18,432) 18,516] +08] 0.5]
6,669} 6,908] 6,555} -3.5] +5.4)

and intermediate products ...... 102,544] 103,661] 103,407] -1.1]  +0.2} +0.2) 95,187) 99,218] 101,823} 94,407] +0.8| 95,187] 94,407
Durable goods industries :
Nondefense capital goods? ......| 42,353] 44,699] 44,023] -5.2] +1.5] +2.4} 34,667] 52,533] 43,044] 33,016) +5.0} 34,667] 33,016
Excluding aircraft and parts .... | 38,296] 39,733) 38,600} -3.6] +2.9| +0.7/ 31,635] 46,106] 37,803] 29,134) +8.6) 31,635) 29,134

Defense capital goods * :| 6.160] 6,359] 6,105} -3.1] +42) -29) 5,032] 7,662] 6,285] 5,542) -9.2] 5,032) 5,542
Durables excluding capital goods . | 114,452] 114.888] 114,796] -0.4}  +0.1] 0.0, 104,704] 107,414] 115,640] 104,129]  +0.6] 104,704} 104,129

Miscellaneous series :
Producers’ durable equipment . 104,617] 106,517] 105,747] -1.8] +07] +1.1] 92,108] 109,517] 106,003} 90,229] +21] 92,108] 90,229
Household durable goods .......| 8,598] 8720} 8,779) -14] -0.7| +09] 7,444] 8,117] 9,473] 7,328) +16] 7,444) 7,328
Information technology industries .] 21,755] 22,368] 21,921] -2.7| +2.0] +1.5] 17,445} 28,491] 21,921] 15,347] +13.7] 17,445] 15,347
Health care equipment

and products... 20... 00.005 9,147] 9,178] 8,953] -0.3] 42.5] +02) 8,797] 9,745] 8,884] 8,265] 46.4] 8,797) 8,265
NEW ORDERS
All manufacturing industries... .. | 311,052 309,467] 304,146] 40.5] +1.7] 0.1] 288,088/ 306,722) 303,118] 277,672] +3.8) 288,088] 277,672

Market categories :
Automotive equipment .. .
Home goods and apparel
Consumer staples... .. :
Machinery and equipment .
Business supplies
Construction materials

and supplies...
Defense products
Other materials, supplies and

and intermediate products . .

14,322] 14,340) 14,227] -0.1]  +0.8) —-1.0) 13,303} 12,753) 14,441) 13,553} 18 13,303) 13,553
19,132] 19,640) 19,934] -2.6 1.5] +2.1] 17,499] 16,753] 20,127] 18,502! 54 17,499] 18,502
64,244] 62,993] 62,202) +2.0] +13} +0.7| 59,588] 63,728) 63,012] 55,372] +76 59,588} 55,372
60,457] 60,892} 57,965} -0.7] +5. +17] 53,514] 65,898) 57,841) 47,348] +13.0 53,514] 47,348
23,082} 22,953) 23,001} +0.6] 0.2] +20} 21,201} 22,423) 23,382] 20,543) 43.2 21,201} 20,543

18,677} 18,396} 18,432) +1.5| 0.2] 2.0) 16,512] 16,715] 18,203} 17,148 3.7 16,512} 17,148
7,853} 7,787) 5,715] +0.8} +36.3)  -2.2) 6,920) 10,797, 5,426] 5,871] +17.9 6,920 5,871

103,285] 102,466] 102,670] +08} -0.2) -1.8] 99,551] 97,655] 100,686] 99,335) +0.2] 99,551] 99,335

Durable goods industries :

Nondefense capital goods? ......| 48,469] 48,700] 46,067 -0.5]  +5.7] +5.3| 42,096] 55,628] 45,796] 35,951] +17.1] 42,096] 35,951
Excluding aircraft and parts ....] 39,902) 38,627] 38,978 +33] -0.9] +0.7) 34,554) 44,094] 38,889) 32,662] +5.8] 34,554) 32,662
Defense capital goods‘ ..... :| 7450] 7,164] 5,242) 44.0] 436.7] 3.1] 6,611] 10,198] 5,005] 5,237] +26.2| 6,611] 5,237

Durables excluding capital goods . | 114,717] 114,370] 113,856] +0.3] +0.5] 3.0] 109,302} 106,528] 113,546} 109,980} -0.6} 109,302} 109,980

Miscellaneous series :
Producers’ durable equipment .
Household durable goods . .
Information technology industri
Health care equipment
and products .......-....+.. 9,242) 9,128] 8,955] +12] +191 -3.9] 8,892] 9,695 8,887] 8,290] +7.3] 8,892] 8,290

109,982] 110,822} 107,414] -0.8] +3.2) +0.2) 100,036] 112,526} 107,520] 94,500) +5.9] 100,036] 94,500
8,553 8,669} 8,868] -1.3 2.2) +23) 8,115) 7,716] 9,089 7,987) +16 8,115 7,987
22,347) 21,864 22,041) +2.2 0. 0.2) 17,898] 27,039] 22,377] 16,173] +10.7 17,898} 16,173

* Preliminary. ‘ Revised.
' Topical series are regroupings of the separate industry categories.
2 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 mati
handling equipment; metalworking machinery; special industry machinery; general industrial machinery; computer and office equipment; refrigeration, heating and ser
industry machinery; electrical transmission and distribution equipment; electrical industrial apparatus; communications equipment; aircraft, missiles, space vehicles, and eng
and parts; ships and tank components; railroad equipment; and search and navigation equipment.

“Defense capital goods industries include : ordnance and accessories; communications equipment; aircraft, missiles, space vehicles, and engines and parts; ships, t:
and tank components; and search and navigation equipment.

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


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 Jan. Dec, Nov. Oct. Jan. Dec. Nov. Oct,
1996" 1995" 1995 1995 1996? 1995" 1995 1995
All manufacturing industries .... . 1.39 137 137 138 2.85 2.75 2.75 2.78
Durable goods industries 1.63 1.59 1.60 1.60 3.44 331 331 3.34
Stone, clay, and glass products . 1.10 lil 1.13 1.16 1.13 1.14 115 1S
Primary metals ......... 151 1.50 1.48 1.47 1.98 1.96 1.92 1.88
Fabricated metal products : 152 135 158 157 140 143 147 144
Industrial machinery and eq 1.69 1.67 1.70 1.67 2.40 2.37 2.44 241

Electronic and other

electrical equipment 178 1.68 172 2.05 1.93 1.99 2.08
Transportation equipment . 1.60 151 1.35 12.69 117 10.83 11.46
Instruments and related pro 1.96 193 1.97 3.90 3.86 3.87 397

Nondurable goods industries . . Li Lit Lil 0.66 0.64 0.67 0.66
Food and kindred products 0.82 0.84 0.84 & (X) 10.9) ie.9)
Tobacco products. . 1.83 1:84 1.85 &) (x) (Xx) &)
Textile mill products - 175 172 1.72 (NA) (NA) (NA) (NA)
Paper and allied products . 126 120 119 (NA) (NA) (NA) (NA)
Chemicals and allied products 117 117 117 ® Xx) tera) fea)
Petroleum and coal products 0.83, 0.84 0.86 (x) (X) fe) (x)
Rubber and plastics products. 1.40 141 141 &) (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; chemicais,
petroleum and coal products; and rubber and plastics products.

Table 9. REVISIONS TO PREVIOUSLY PUBLISHED MONTHLY PERCENT CHANGES
(Based on seasonally adjusted data)

Shipments New orders Unfilled orders Inventories
Industry
Jan. Jan. Jan. Jan.
Jan? | 1995- Jan? | 1995- Jan? | 1995- Jan? | 1995-
Jan! | 1991-] Dec. } Jan! | 1991-| Dec. Jan! | 1991-] Dec. | Jan. | 1991-] Dec.
1996] 1995] 1995] 1996| 1995] 1995] 1996] 1995 | 1995] 1996 | 1995] _1995
All manufacturing industries... ... ~ 04 o1 Oa) 03 02 fe) 01 01 0) 0.1 OL
Durable goods industries... . sf ay 07 02 ra) 05 03 fe) 0.1 0.1 ® OL O1
Stone, clay, and glass products . . . . &) 08 06 & 10 12 ie) 07 07 & 03 Oo
Primary metals... 2... o (Xx) 0.5 04 (xX) 14 09 (X) 04 04 (X) 01 02
Fabricated metal products : {e9) 08 04 & 12 06 (x) 04 04 &) 1.0 02
Industrial machinery and equip (Xx) 1 03 (Xx) 16 06 (X) 01 0.2 ) 0.1 0.1
Electronic and other

electrical equipment . (X) 07 04 (xX) 14 0.5 & 04 03 () 0.1 0.1
Transportation equipment fe) 13 05 &) 15 13 ® 0.1 02 ) 02 03
Instruments and related pro (x) 1.0 02 (xX) 47 08 (x) 03 0.2 X) 03 0.1
Nondurable goods industries . . x) 03 01 ® 03 0.1 fea) 0.6 03 x) 0.1 0.1
Food and kindred products &{ 02] orf 68| od] el Bl a] eo] By oof 02
Tobacco products ..... (X) 14 01 (x) (x) (x) (x) (X) (xX) 0.0 0.0
Textile mill products . (x) 03 02 (xX) (NA) (NA) (xX) (NA) (NA) (X) 0.3 01
Paper and allied products . & 03 03 |] ad] (A) a] way] (aA) & 02 02
Chemicals and allied products (x) 05 02 (X) (X) (X) (xX) (x) (X) ) 03 0.2
Petroleum and coal products (&) Ml 0.1 ro) (X) (x) a) (X) ) & 0.1 0.2
Rubber and plastics products. & 12 03 &) &) & &) &) (x) 02 ol

Capital goods industries:
‘ondefense x) 08 04 fe) 1d 07 x) 0.0 0.1 fe) 0. 02
Defense .... 8 04 05 &) 86 47 & 03 02 & 03 04

(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 ofthe preliminary and final estimate, ‘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

ce
ay

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

Manufacturers’ Shipments,
Inventories, and Orders

January 1996
M3-1-(96)-1
For Wire Transmissions 8:30 a.m. E.S.T. March 5, 1996

Kathy Menth or Gloria Cable
(301)457-4804 or (301)457-4832

Summary

New orders for manufactured goods in January increased $1.6
billion or 0.5 percent to $311.1 billion, the Department of Commerce,
Bureau of the Census reported today. This follows an increase of 1.7
percent in December and declines of 0.1 percent and 0.6 percent in
November and October, respectively.

Shipments, down for the first month since October, decreased $2.7
billion or 0.9 percent to $303.2 billion, following a 0.7 percent December
increase.

Unfilled orders, up for the fifth consecutive month, increased $7.9
billion or 1.7 percent to $474.9 billion, following a 0.8 percent December
increase. This is the largest increase since the 1.7 percent increase in
December 1989. The unfilled orders-to-shipments ratio was 2.85, up from
2.75 in December.

Inventories increased $3.0 billion or 0.7 percent to $421.5 billion,
the sixteenth consecutive monthly increase and the twenty-third in the last
twenty-five months. The inventories-to-shipments ratio was 1.39, up from
1.37 in December.

New Orders

New orders for manufactured durable goods in January, up for the
second consecutive month, increased $0.4 billion or 0.2 percent to $170.6
billion. ‘This follows a 3.1 percent December increase.

Industrial machinery and equipment had the largest increase, $1.8
billion or 5.7 percent to $33.6 billion, following a 2.6 percent December
decline, Fabricated metal products, up for the first month since September,
increased $0.5 billion or 3.0 percent to $16.2 billion, following a 1.1
percent December decline. Electronic and other electrical equipment, up
four of the last five months, increased $0.1 or 0.3 percent to $27.6
billion. This follows a 5.6 percent December increase. Transportation
Squipment, down for the first month since October, had the largest decline,
$1.5 billion or 3.4 percent to $43.1 billion; large declines in aircraft and
aircraft parts, and railroad and other equipment more than offset an
increase in shipbuilding and tanks. Instruments and related products, down
for the frst month since September, decreased $0.5 billion or 4.0 percent
to $11.8 billion.

New orders for nondurable goods increased $1.2 billion or 0.8
percent to $140.4 billion, following a 0.2 percent December increase, The
largest increases were for food and kindred products, petroleum and coal
products, and paper and allied products.

Shipments

Shipments of durable goods in January, down for the first month
since October, decreased $3.0 billion or 1.8 percent to $163.0 billion. This
follows increases of 0.6 percent in December and 0.5 percent in November.

Transportation equipment had the largest decline, $1.8 billion or 4.7
percent to $37.2 billion. This follows a slight December increase and a 1.8
percent November increase. Electronic and other electrical equipment
decreased $1.4 billion or 4.8 percent to $26.9 billion. This follows
increases of 1.7 percent in December and 1.6 percent in November.

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

Instruments and related products, down for the first month since October,
declined 0.9 percent or $0.1 billion to $11.8 billion. Fal
products, up three of the last four months, increased $0.3 bil
percent to $16.2 billion. Industrial machinery and equipment, increased
$0.1 billion or 0.4 percent to $32.7 billion. “This follows a 1.9 percent
December increase

Shipments of nondurable goods, up for the third consecutive month,
increased $0.2 billion or 0.2 percent to $140.2 billion, following a 0.8
percent December increase. Food and kindred products, up for the eighth
consecutive month, had the largest increase, $0.6 billion or 1.7 percent to
$38.5 billion. Petroleum and coal products, up for the third consecutive
month, increased $0.3 billion or 2.6 percent to $13.8 billion. Apparel and
related products, and paper and allied products had the largest declines.

Unfilled Orders

Unfilled orders for durable goods in January increased $7.7 billion
or 1.7 percent to $451.7 billion, following a 1.0 percent December
increase. Like total manufacturing, this is the largest increase since
December 1989 and the fifth consecutive monthly increase.

Transportation equipment had the largest increase, $6.0 billion or 2.9
percent to $211.6 billion; led by aircraft and aircraft parts, all component
industries increased except motor vehicles and parts. This follows
increases of 2.8 percent in December and 0.4 percent in November.
Industrial machinery and equipment, up three of the last four months,
increased $0.9 billion or 1.3 percent to $73.7 billion. This follows a 1.0
percent December decline. Electronic and other electrical equipment, up
for the first month since October, increased $0.7 billion or 1.3 percent to
$55.2 billion. This follows decreases of 1.4 percent in December and 3.0
percent in November.

Inventories

Inventories of durable goods in January, up for the sixteenth
consecutive month, increased $2.4 billion or 0.9 percent to $266.3 billion,
following a 0.2 percent December increase. Industrial machinery and
equipment, up for the seventh consecutive month, had the largest increase
$0.9 billion or 1.7 percent to $55.2 billion. Transportation equipment, up
for the first month since October, increased $0.7 billion or 1.2 percent to
$59.6 billion, following a 0.2 percent December decrease. Electronic and
other electrical equipment, up thirty-six of the last thirty-nine months,
increased $0.5 billion or 1.1 percent to $48.0 billion. This follows a 1.2
percent December increase. Instruments and related products, up for the
fienth consecutive month, increased $0.2 billion or 0.8 percent to $23.1

illion.

Inventories of nondurable goods, up fourteen of the last sixteen
months, increased $0.6 billion or 0.4 percent to $155.2 billion. This
follows a 0.4 percent December increase. The largest increases were for
printing and publishing, and petroleum and coal products.

By stage of fabrication, January finished goods increased 1.0 percent
in durables and decreased ‘slightly in nondurables. Work in process
increased 1.0 percent in durables and 1.0 percent in nondurables. Materials
and supplies increased 0.7 percent in durables and 0.6 percent in
nondurables.

NOTE: THERE WILL BE NO SEPARATE JANUARY ADVANCE DURABLE GOODS PUBLICATION.

‘The release date for the February advance report for durable goods will be announced at a later date. For sale by the Superintendent of Documents, U.S. Government Printing Office,
Washington, DC 20402. This report is also available the day of issue through the Department of Commerce’ sonline Economic Bulletin Board (N-8-1) (202-482-3870)and through the Census
Bureau’s online information service--CENDATA. CENDATA is available from Dialog Information Services, Inc. (1-800-334-2564)and CompuServe (1-800-848-8199). The CENDATA,
staff at the Bureau of the Census (301-457-1305)can provide content information and general guidance.


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

52P------------------------------------- New Orders || 52

Shipments

L iL 1 L L 1 L L i 1 1 1 i
Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov’ Jan
Jan. 1994 - Jan. 1996

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

11 11
New Orders
WP ------------------------------------- | 10
Shipments
9 ------------- 22-22 - 2+ +--+ -- +--+ --- 2-2 TT 49

5 lu 1 nl i 1 n n n L i n i Ll 5

Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov’ Jan
Jan. 1994 - Jan. 1996

Note: All Charts based on seasonally
adjusted current dollars.

* U.S. GOVERNMENT PRINTING OFFICE: 1996 404~450/20051


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
Jan. Dec. Nov. | Dec.- | Nov- } Oct~ Jan. Dec. Nov. Jan. | Jan.
1996" | 1995" 1995 | Jan. | Dec. | Nov. | 1996" 195° 1995 1995 | 96/95
MATERIALS AND SUPPLIES
All manufacturing industries 138,856 | 137,954 | 138,404] 407] 03 0.0 | 139,470 | 137,855 | 138,562 | 130,218 +71
Durable goods industries... . . 31,435 | 80902 | 81.104 | +0.7] -02] -03 | 82,022 | 80,834 | 81,684 | 76,175 +77
Stone, Clay, and glass products - 2792 | 2778 | 2/863 | +05} -30] -03 | 2800 780 841 2,671 +48
Primary metals ©. ........ 6908 | 6716 | 6782 | +14] -10] 01 6908 | 6,930 | 6905 | 6,732 +26
Fabricated metal products |. : | 8330 | 839: 8477 | +16] -10 | -16] 8629 | 8534 | 8454 | 8,656 -03
Industrial machinery and equipment 18,747 | 18;670 | 18,670 | +04 0.0 | 0.2 | 18802 | 18355 | 18954] 16925 | +111
Electronic and other
electrical equipment . . 16,286 | 16,497 | 16,586 13] 05 5 | 16279 | 16,286 | 16388 | 13,779 | +18.1
Transportation equipment . . | 10437 | 10014 | 9943 | +42] +07 3 | 10,452 960 | 10,060 | 10,667 -2.0
Instruments and related products . . . 7306 | 7,243 | 7.217] +09] +04 si] 7314 | 73125 | 7,217 | 6,738 485
Lumber, furniture and
miscellaneous durable goods ... . . 10,529 | 10,590 | 10,566 | -06} +02 10,838 | 10,864 | 10,865 | 10,007 +83
Nondurable goods industries . $7,421 | 57,052 | $7300] +06] -04 97,448 | $7,021 | 56,878 | 54,043 +63
Food and kindred products . 10,640 ] 10,562 | 10510] +0.7] +05 10,978 | 10,774 | 10847 | 10,377 45.8
Tobacco products ....... 4731 | 4,713 :686 | +04) +06 5,084 | 4,970 538 023 +12
Textile mill products . - 3017 | 3,024 | 3,036 02] 04 2996 | 2960 | 2.943 | 2,896 43.5
Paper and allied products . - 3,081 8153 | 8301 09] -18 7996 | 8149 | 8.230 | 73125 | +122
Chemicals and allied produc 1701 | 11600 | 11725 | +09] -L1 11,659 | 11561 | 11671 | 11,402 423
Petroleum and coal products. 3589 | 3,503 | 3,381 | +25] +36 3380 | 3,368 | 3,285 883 | +172
Rubber and plastics products 4993 | 4979 | 5,088 | +03] 21 4976 | 4,999 | 5,031 53124 29
Apparel, printing and publis!
and leather goods .. . . 10,669 | 10,518 | 10,573] +14] -0.5 | +01 | 10,379 | 10,240 | 10,333 | 9,213 | +12.7
WORK IN PROCESS
All manufacturing industries 136,910 | 135,585 | 134967 | +10 | +05 | +05 } 135,602 | 131,105 | 135,826 | 129,318 +49
Durable goods industries... . 111,838 | 110,769 | 110216 | +10] +05 | +0.7 | 110,583 | 106,972 | 110,730 | 105,354 +5.0
Stone, clay, and glass products 301 1,293 1318 | +06] -19 | -10 | 1,267 1,205 1212 1158 49.4
Primary metals ~.... . 3410 | 8370 | 8310} +05] +07] +05] 8324] 8219) 8228 | 7679 +84
Fabricated metal products. . : | 7696 | 7835 | 7,961 18] -16 | -09]) 7661 | 7635 | 7867 | 7,749 “11
Industrial machinery and equipment’ ] 20,236 | 19/855 | 19:583 | +19] +14] +420 | 19,849 | 18,845 | 20,038 | 19,008 +44
Electronic and other
electrical equipment 18,329 | 17,840 | 17,342 | 42.7] +29 | +17 | 18,284 | 17,112 | 17,255 | 16,194 | +129
‘Transportation equipment . . . 41101 | 40,975 | 41080 | +03] -03 | -0.2 | 40,788 | 39,889 | 41,562 | 39,479 +33
Instruments and related products - 9739 | 9628 | 9563 | +12] +07] 421 | 9429] 9231 | 9,621 8,995 +48
Lumber, furniture and
miscellaneous durable goods . . . . . 5,026 | 4973 | 5,059 | +11] -17] 05] 4981 | 4,836 | 4,947 | 5,092 22
Nondurable goods industries 25,072 | 24,816 | 24,751 | +10] +03 | -01 | 25,019 | 24,133 | 25,096 } 23,964 +44
Food and kindred products 3242 | 4,230 | 4227 | +03 | +0.1 “11 s440 | 4514 | 4,591 4;239 +47
Tobacco products. . . 195 194 19. +05] +10] +110 210 191 290 192 49.4
Textile mill products 2,782 | 2,784 | 2,805 01] -07 | +13 | 2,780] 2,648 | 2,773 | 2,592 473
Paper and allied products. . . 1,633 1,582 521 | 432] +40] -12} 1632] 1549] 1468] L281 | 4274
Chemicals and allied products. 5758 | 5715 | 5649 | 08] +12] +10] 5732 | 51587 | 5674 | 5347 472
Petroleum and coal products 2315 | 22901 | 2150] +10] +66] +34 2226 | 2133 | 2145 | 2314 38
Rubber and plastics products 2039 | 2016 | 2049 | +11} -16} -06] 2079 | 1,998 | 2095 | 2,002 43.8
Apparel, printing and publishing
and leather goods .........--.. 6108 | 6,004 | 6158] +17] 25] -78} 5,920] 5,513 | 6,060 | 5,997 13
FINISHED GOODS
All manufacturing industries 145,738 | 144,988 | 144,215 | +05] +05 | -0.4 | 144,093 | 139,544 | 142,450 | 135,256 +65
Durable goods industries ......... 72,997 | 72,245 | 72,197 | +10] +0.1 -04 | 72,218 | 69,089 | 71,177 | 67,385 472
Stone, clay, and glass products - 4149 | 4163 | 4.145 03] +04] -16] 4128 | 4,033 980 | 3.936 +49
Primary metals -....... . 6.726 | 6,767 | 6,731 06 | +05] -05] 6711 6,583 | 6.571 6.726 -02
Fabricated metal products... ... | 8,479 | 8.541 8,542 -07 00] +10] 8245] 7997] 8159 | 7,948 +37
Industrial machinery and equipment | 16,233 | 15,789 | 15,871 | 428 | -05 | +428 | 16,524 | 15,365 | 15,794 | 14,743 | +12.1
Electronic and other
electrical equipment . . . 13,339 | 13,075 | 12,910] +420] +413 | -1.9 | 12,919 | 12,254 | 12,717 | 10,876 | +18.8
‘Transportation equipment fc] 8023 | 71852 | 79: 422] -10 | -48} 7954] 7399 | 8205 | 8,088 -17
Instruments and related products |: | 6,030 | 6,025 | 6,002 | +01] +04] -04| 5,765 | 5,867 | 6,134 | 5,546 43.9
Lumber, furniture and
miscellaneous durable goods . . . . 10,018 | 10,033 | 10,067 1] 03 | -02] 9972} 9,591 | 9,617 | 9,522 44.7
Nondurable goods industries ...... . 72,741 | 72,743 | 72,018 00{ +10] -03 | 71,875 | 70,455 } 71,273 | 67,871 +59
Food and kindred products. |: - 16,664 | 16,802 | 16,804 -08 00} +01 | 16644 | 16569 | 17,526 | 17,072 25
Tobacco products 658 663, 648 | -08 | +23) -74 703 673 707 798 | -119
Textile mill products | | |: 4,603 | 4,648 | 4660 | -10] -03 | +01 | 4,535 | 4,324) 4,480 | 4,323 +49
Paper and allied products. - 7213 | 7092 | 6850 | +17] +35] +4071 7187 | 6839 | 6675} 5,510 | +304
Chemicals and allied produ 18/526 | 18,609 | 18,347 04] +14] -18 | 181533 | 18,471 | 18.041 | 17,774 +43
Petroleum and coal products 5.464 | 5,401 3 +12] 453] 0. 5332 | 5,124 | 5,268 | 5,320 +02
Rubber and plastics products 6,947 6.918 6,938 +04 03 04 6.937 6711 6,694 6,366 49.0
Apparel, printing and publishi
and leather goods : 12,666 | 12,610 | 12,641 | +04] -02 | +12 {| 12,004 | 11,744 | 11,882 | 10,708 | +12.1

? 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
Jan. Dec. Nov.]| Dec] Nov-] Oct Jan. Dec. Nov. Jan} Jan.
1996" 195° 1995] Jan.|  Dec.]  Nov.} 199671995" 1995 1995] 96/95
All manufacturing industries... . 474,931] 467,045] 463,485} +17] +08] 40.1] 475,600] 461,357] 457,355] 461,083] +3.1
Manufacturing industries
without defense capital goods... .. 365,820 | 359,224] 356,469) +18] +408] +04] 365,736] 353,072] 351,606] 348,283] —+5.0
Durable goods industries ......... 451,749] 444,078] 439,790 +17 +10 +01] 453,065] 439,459} 434,714] 435,929 43.9
Stone, clay, and glass products 8,039! 8,003] 7,968] +04] +04] +04] 7,807| 7,640] 7,734] 7,914] -14
28,667} 28,538] 28328] +05] +07] +13] 29,059] 27,482) 26,569] 29,552] 1.7
+ 12,545] 12,434] 12,119] 40.9] +26] 42.6] 12,608] 11,669] 11.247] 11,634] 48.4
Iron and steel foundries. . ¥ x +14] -14] 02] 3,780] 3,540] 3,629] 3,813] -09
Nonferrous and other primary
metals 2... 2.0.20. 12,423] 12,455] 12,510] 03 +04) 12,671] 12,273] 11,693] 14,105] -10.2
Fabricated metal products - | 20921] 20981] 21,229} -03 +03] 20,860] 20,691] 20,676] 20934] -0.4
Industrial machinery and equipment. | 73,688] 72.757) 73526] +13 +1.0| 74,520] 72,402] 73,935] 69,816] +6.7
Engines and turbines .......... 10,562 10,434 10,634 +12 44.5 10,848 10,859 11,096 10,511 43.2
Construction, mining and
material handling equipment 8,531 8547] 8,442] -0.2 40.9] 8,710] 8,459] 8,304} 7,587] +148
Metalworking machinery 9,758] 9,550] 10,022} +2.2 46| 9,758] 9550] 10,022) 9,996] 2.4
Computer and office equipment 11,578] 11,675] 11,879] -0.8 +08] 10999] 11,223] 12,376] 11,287] -2.6
Electronic and other
electrical equipment ........... $5,208} 54,503] 55,254] +13] -14] 3.0] 55,362] 52,760] 54,366] 48,915] +13.2
Electrical transmission and
distribution equipment and
industrial apparatus ........... 5,687 5,729 5,801 0.7 2.0 5,691 5,679 5,816 5,998 5.1
Electric lighting and
wiring equipment ............ 3,973 3,843 3,733 43.4 21 3,973 3,843 3,733 3,785 +5.0
Communications equipment 17,848] 17,262} 17,809] +34 +0.1] 17,817] 17,257] 17,800] 15,431] +155
Electronic components .. . . 22,751| 23,056} 23,454] 1.3 48| 22,751] 21,568] 22,565] 17,736] | +283
Transportation equipment . . . - 211,642 | 205,659] 199,994] 42.9 +0.4| 211,979] 205,469] 198,737] 202,922] +45
Aircraft, missiles,
space vehicles, and parts. . 182,146] 176,906] 171,160] 43.0] +34] +0.7] 182,451] 176,929] 170,198] 169,766} +75
Shipbuilding and tanks .... 17,062} 16,381 16,407 +42 02 -12] 16,981] 16,254] 16,368] 19,649] -13.6
Instruments and related products . 45,919] 45,948] 45,601 0.1 ; +0.1] 46,377) 46,368] 45,269] 48,272} 3.9
Search and navigation equipment 28,889} 29,041] 28,662] 0.5 0.0] 29,368] 29,487] 28,366] 31,540] -6.9
Measuring and controlling devices . 10,217] 10,106} 10,082 +11 +03] 10,217] 10,106] 10,082 9,600 +6.4
Medical instruments and supplies 6,038] 5,943 991]  +1.6 40.1] 6,038] 5,943] 5,991 6317] -4.4
All other durable goods 7,665) 7,689] 7,890} -03 +03] 7,101] 6,647] 7,428] 7,604] -6.6
Nondurable goods industries ....... 23,182] 22,967] 23,695] +0.9| -3.1] +08] 22,535] 21,898] 22,641] 25,154} -10.4

° 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

Jan. Dec. Nov. | Dec.- | Nov.- | Oct. Jan. Dec. Nov. Jan. Jan,
1996" 1995" 1995] Jan.| Dec.] Nov.] 1996? 1995" 1995 1995 | 96/95 1996” 1995

All manufacturing industries... .. 311,052} 309,467] 304,146] +0.5] +1.7| -0.1 288,088] 306,722] 303,118] 277,672| +3.8| 288,088] 277,672

Manufacturing industries

with unfilled orders . . +++ | 174,301] 173,422] 168,936] +0.5}  +2.7) +0.1) 162,031] 178,307] 168,880] 153,319] +5.7} 162,031] 153,319
without defense capital goods .. . . . 303,602] 302,303] 298,904] +04) +1.1 0.0} 281,477) 296,524] 298,113] 272,435]  +3.3] 281,477] 272,435

Durable goods industries 170,636) 170,234] 165,165] +0.2
With unfilled orders +++ ++} 138,967] 138,483] 133,194] +03
Stone, clay, and glass products .....] 7,562] 7,434) 7383) +1.7
Primary metals 22... : 14,620] 14,800] 15,094} -1.2
Blast furnaces, steel mills . 6,238] 6,418] 6,524} -2.8]

158,009} 172,354] 164,347] 151,168] +4.5) 158,009} 151,168
129,056} 144,192} 132,648] 120,891 +6.8} 129,056} 120,891
6,591 6,345 7,334] 6,468) +19 6,591 6,468
15,337] 14,430) 14,771] 16,196] 53 15,337] 16,196
6,858] 6,030} 6,301 7,096) 34 6,858 7,096

Iron and steel foundries 0...) 1363] 1.270) 1.273| 473 1,481] 1,022) 1,257] 1.414] +47] Laat] ald
Nonferrous and other primary
metals... 2... 7,019) 7,112} 7,297] -1.3| 6,998] 7,378] 7,213} 7,686] 9.0] 6,998] 7,686

Fabricated metal products ........] 16,158] 15,687] 15:867|  +3.0

Industrial machinery and equipment .| 33,591 31,767] 32,624] +5.7|
Engines and turbines .......... 1991] | 1,539] 2237] +29.41
Construction, mining and
material handling equipment
Metalworking machinery

15,029} 14,937] 15,523] 15,157 -0.8 15,029] 15,157
29,558} 34,251} 32,415] 27,248) +8.5 29,558] 27,248
1,509] 2,077) 2,304) 1,450) +44 1,509 1,450

3,374 3,765) 3,447) -10.4)  +9.2} -2.1) 3,319] 3,694) 3,245) 3,404] 2.5 3,319 3,404
. 3,575} 2,895] 2,965] +23.5) -2.4) -15.6 2,979] 3,167} 3,236) 3,155 5.6 2,979 3,155

Computer and office equipment . 9,314] 9,032} 9,333) 43.1 -3.2[ +0.1] 6,787) 11,381 9,642 5,781) +17.4 6,787 5,781
Electronic and other

electrical equipment ........... 27,637) 27,549) 26,099] +0.3]  +5.6) -12.1) 26,178] 29,170] 26,550] 24,387] +73 26,178} 24,387
Electrical transmission and

distribution equipment and
industrial apparatus ........... 2,798) 2,847) 2,772) -1.7| +2.7] -7.3) 2,494] 2,757] 2,664] 2,696] 7.51 2,494] 2,696
Electric lighting and
wiring equipment ........
Communications equipment
Electronic components .. .
Transportation equipment . . .
Aircraft, missiles,

2,064} — 2,046] 1,827) +0.9) +12. 1.7] 1,859] 2,103 1,927 1,864 0.3 1,859) 1,864
6,895] 6,517] 6,629] +5.8 1.7) -2.3] 5,680) 9,024) 6,540} 5,157] +10.1 5,680) 5,157
10,365) 10,654) 9,852] -2.7] +8.1) -23.8] 11,031} 10,144] 9,747) 10,045) 49.8 11,031 10,045
43,135] 44,631) 39,746] -3.4) +123] +4.6 39,946] 44,811] 39,834] 35,592] 412.2 39,946] 35,592

chicles, and parts. .....] 12,391) 14,056) 9,719] -11.8) +44.6] 415.8] 11,017] 17,253] 9,530 5,627] +95.8] 11,017) 5,627

pbuilding and tanks ........] 1,469] 785606) +87.1) +295] +1322] 1383] ‘847]_— “agi! 1490] -7.2| 11383] —-1/490
Instruments and related products...) 11,750} 12,238 11,820] -4.0] +3. +0. 10,440] 14,028] 11,649] 103941 +04] 10:440| | 10'394
Search and navigation equipment . | 2,274] 2,809} 2.417] -19.0] +162) +107] 1,930] 3,917] 2240] 20301 5.3] 1.930] 2,039
Measuring and controlling devices .| 3,998] 4,187] 3,909] -4.s! +7.1| +21] 3,652) 4'495] 37826] 3:18) +38] 3'652| 3518,
Medical instruments and supplies .] 3.201] 3,156 3,116] +14! +13] -94| 2.965] 31446] 31093] 2.903) 42.1 2,965} 2,903
All other durable goods .......... 16,183] 16,128] 16,532} +0.3] -2.4) -1.7} 14,930] 14,382] 16,271] 15,726]  -5.1] 14,930] 15,726
Nondurable goods industries ...... .) 140,416] 139,233] 138,981] +0.8| +0.2|  +0.8| 130,079} 134,368] 138,771| 126,504] 42.8) 130,079] 126,504

With unfilled orders . . . 35,334] 34,939] 35,742) +1.1 2.2)  +2.3] 32,975] 34,115] 36,232] 32,428) +17 32,975} 32,428

* 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 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. Further
details on survey design, methodology, and data limitations 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 FOR INDUSTRY GROUPS
(Millions of dollars)

‘Seasonally adjusted ‘Not seasonally adjusted"
Monthly Percent Change Monthly Percent Year to date

Industry change

Jan.| Dec. | Nov. | Dec.-] Nov] Oct-| Jan.| Dec. Nov. | Jan. } Jan.

1996" 1995" 1995 | Jan. Dec.} Nov.| 1996? 1995" 1995 1995 | 96/95 1996” 1995

All manufacturing industries . 303,166] 305,907] 303,726] -0.9] +0.7} +0.4} 273,845) 302,720] 303,919] 268,357] +2.0] 273,845] 268,357

Manufacturing Industries
with unfilled orders .. .

. 166,415] 169,862] 168,516] 2.0] +0.8)  +1.0] 147,788] 174,305] 169,681] 144,004] +2.6| 147,788] 144,004
without defense capital goods

297,006] 299,548] 297,621 -0.8] +0.6) +0.5) 268,813} 295,058] 297,634] 262,815] +2.3) 268,813] 262,815

Durable goods industries
With unfilled orders :
Stone, clay, and glass products .

162,965} 165,946] 164,924] -1.8] +0.6) +0.5] 144,403] 167,609] 164,969] 142,687) +12] 144,403] 142,687
131,296] 134,195] 132,953] -2.2] +0.9)  +1.1) 115,450] 139,447] 133,270] 112,410) +2.7) 115,450] 112,410
7,526) 7,399) 7,352) +1.7] +0.6f +11) 6,424) 6,439) 7,371} 6,068 +5.9 6,424 6,068

Primary metals... .. 14,491] 14,590] 14,740] -0.7] -1.0f 1.0 13,760] 13,517] 14,474] 14,503} -5.1] 13,760] 14,503
Blast furnaces, steel mills . 6,127] 6,103] 6,212] +04] -1.8|  -2.1] 5.919] 5,608] 6,051] 6,113] 3.2] 5,919] 6,113
Iron and steel foundries. . 1313] 1,320] 1,281] 05} +3.0| +06] 1.241] Litt] 1,274] 1,288) = -3.6] 1,241] 1,288
Nonferrous and other primary

metals 7,051] 7,167] 7,247) -1.6|  -1.1] -0.3) 6,600} 6,798] 7,149) 7,102} -7.1] 6,600} 7,102

Fabricated metal products. «| 16,218] 15,935] 15,804) +1.8] 40.8] -1.2} 14,860] 14,922] 15,722) 14,715 +1.0 14,860] 14,715
Industrial machinery and equipment .| 32,660] 32,536] 31,926} +04) +1.9)  -0.1] 27,440] 35,784] 30,948} 24,628} +114 27,440] 24,628
Engines and turbines ....... . 1,863) 1,739 1,776) +7.1 2.1 5.1 1,520] 2,314) 1,730] 1,563 2.8 1,520 1,563
Farm and garden machinery . + 1,938 1,817 1,840) +6.7) 13) +62) 1,767] 1,455] 1,522 1,656} +6.7 1,767 1,656
Construction, mining and
material handling equipment
Metalworking machinery
Computer and office equipme
Electronic and other
electrical equipment ..........-. 26,932) 28,300] 27,835} -4.8) +1.7) +1 23,576) 30,776) 28,589] 21,604] +9.1 23,576] 21,604
Electrical transmission and
distribution equipment and
industrial apparatus . .
Household appliances .
Electric lighting and
wiring equipment ..... 6.2... 1,934 1,936} 1,908} -0.1}  +1.5) 0. 1,729 1,993] 2,008) 1,722] +04 1,729 1,722
Household audio and
video equipment .
Communications equip
Electronic components . .
Transportation equipment
Motor vehicles and parts.
Aircraft, iles,

3,390) 3,660) 3,371] -7.4) +8.6)  +2.8} 3,068) 3,539] 3,161} 2,816) +8.9 3,068 2,816
3,367) 3,367 3,447| 0.0) -2.3)  -8.4) 2,771 3,639] 3,718} 2,736] +13 2,771 2,736
9411 9,236] 9,235} +1.9] oO. 0.2] 7,011] 12,534) 9,193) 5,694) +23.1 7,011 5,694

2,840) 2,919} 2,892) -2.7] +0.9) +34] 2,482] 2,894) 2,766) 2,444 +16 2,482 2,444
1,920} 1,922 1,967) -0.1 23-13] 1,624 1,742, 1,933] 1,632} 0.5 1,624 1,632

1,108 1,203 1,257) -7.9]  -4.3) +3. 906) 1,147 1,625} 914) 0.9 906 914
6,309] 7,064} 6,615} -10.7] +68] +0.9} 5,120] 9,567] 6,579) 4,730 48.2 5,120 4,730
10,670} 11,052} 11,039} -3.5]  +0.1] +2.5} 9,848) 11,141) 11,107] 8,241) +19.5 9,848 8,241
37,152] 38,966} 38,965] -4.7] 0.0] +1.8} 33,436) 38,079) 39,254) 35,844 6.7) 33,436] 35,844
27,409] 27,513) 27,388] -0.4) +0.5] —-1.3] 25,666] 24,522) 27,931] 26,489) 3 25,666] 26,489

space vehicles, and parts. 7,151 8,310 3.1] +7.9] 5,495} 10,522] 8,471 6,753] -18.6 5,495 6,753
Shipbuilding and tanks ..... 788 gil 40.9} +4.3} 656} 961 771 780) -15.9 656 780
Instruments and related products + | 11,779] 11,891 +08) +2.7] 10,431] 12,929) 11,955] 10,140] 42.9 10,431 10,140
Search and navigation equipment . 2,426) 2,430 40.2) -2. 2,049] 2,796] 2,530] 2,206} “71 2,049 2,206
Measuring and controlling devices . 3,887) 4,163} +74 +47) 3,541 4,471 3,793) 3,167) +118 3,541 3,167
Medical instruments and supplies . 3,106} 3,204 42.9) +2. 2,870] 3,494) = 3,090] 2,878} 03 2,870 2,878
Photographic goods . . . 1,938 1,671 | -14.8) +6.1 1,599] 1,769} 2,126) 1,535 442 1,599 1,535
All other durable goods . 16,207] 16,329) 16,505) -0.7 “ld “17, 14 476 15,163} 16,656} 15,185 AT 14,476] 15,185

Nondurable goods industries .
With unfilled orders
Food and Kindred products «
Meat products ....
Dairy products -
Beverages .
All other foo
Tobacco products... .
Textile mill products .
Broadwoven fabrics and

140,201} 139,961] 138,802] +0.2] +0.8] +0.3} 129,442) 135,111} 138,950} 125,670 43.0] 129,442] 125,670
35,119] 35,667] 35,563} -1.5] +03] +0.5) 32,338] 34,858] 36,411] 31,594] 42.4 32,338] 31,594
38,487] 37,850] 37,760] +1.7] +0.2) +0.8) 35,501] 37,969] 38,232] 33,293 +6.6 35,501} 33,293

8,791 8,899] 8,914) -1.2 -0.2| 8,237) 8,799] 8,797] 7,564 +8.9 8,237 7,564
4,964) 4,960] 4,930) +01] +0.6) 4,696] 4,859] 5,058) 4,499) +44 4,696 4,499
5,670} 5,509} 5,431] +2.9] +1.4| 4,865) 5,172] 5,170) 4,474 +8.7 4,865 4,474
16,988} 16,425] 16,247) +34) +1.1 15,629] 17,082} 16,969] 14,802] +5.6 15,629} 14,802
3,044) 2,835 3,008] +7.4] 5.8) 2,648) = 2,991 3,162) 2,475 +7.0 2,648 2,475
5,933} 6,053! 6,104] -2.0} 0.8) 5,064) 5,498) 6,177) 5,525! 83 5,064 5,525

other textiles 3,674] 3,703] 3,754) 0.8] -1.4, 0.3) 3,218] 3,487] 3,711] 3,526] 8.7] 3,218] 3,526
Paper and allied products 13,482] 13,754] 13,922| -2.0) -1.2) -0.5|. 12883) 13,275] 13,724] 12,623] +2.1} 12,883] 12,623
Pulp, paper, and
paperboard mill products ...... 5.494} 5,763] 5,831] -4.7] -12) | -3.1] 5,241] 5,635) 5,791] 5,341] -1.9] 5,241] 5,341
Paperboard containers and boxes ..} 3,764] 3,710] 3,806} +1.5] -2.5| -0.1] 3,591] 3,424] 3,699] 3,304] -+5.8] 3,591] 3,394
Miscellaneous converted
paper products 4,224] 4,281| 4,285] -13]-0.1 4,051] 4.216] 4,234) 3,888] +42] 4,051) 3,888
Chemicals and allied produc 30,783] 30,790] 30,563] 0.0] +0.7 29,335] 29,606] 29,252] 28,931] +14] 29,335] 28,931
Industrial chemicals . . 15,967| 16,162) 16,157] -1.21 04 15,201] 15,036] 15,551] 16.035] -5.2] 15,201] 16,035
Drugs, soaps, and toiletries 1141] 11,014] 10,761] +1.2] +24) 10,940] 11,357] 10,684] 9.922] +103] 10,940] 9,922

Petroleum and coal products . 13,756} 13,407] 12,620) +2.6] +6.2)
Rubber and plastics products pees 9,984] 10,017 9,963} -0.3} +0.5|
All other nondurable goods ....... 24,732) 25,255} 24,862) -2.1] +1.6)

12,382) 12,957) 12,872} 11,327] +9.3 12,382] 11,327
9,382) 9,050} 9,513} 9,476) 1.0 9,382 9,476
22,247) 23,765] 26,018} 22,020) +1.0 22,247) 22,020

* 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 varial