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FOR RELEASE AT 8:30 AM EDT, TUESDAY, MARCH 26, 2024 

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS, 

INVENTORIES AND ORDERS FEBRUARY 2024 

Release Number: CB 24-50 M3-1 (24)-02 

March 26, 2024 — The U.S. Census Bureau announces the February advance report on durable goods 

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in February, up following two consecutive monthly 

decreases, increased $3.7 billion or 1.4 percent to $277.9 billion, the U.S. Census Bureau announced today. 

This followed a 6.9 percent January decrease. Excluding transportation, new orders increased 0.5 percent. 

Excluding defense, new orders increased 2.2 percent. Transportation equipment, also up following two 

consecutive monthly decreases, led the increase, $2.9 billion or 3.3 percent to $90.4 billion.

Shipments

Shipments of manufactured durable goods in February, up following two consecutive monthly decreases, 

increased $3.5 billion or 1.2 percent to $282.7 billion. This followed a 0.8 percent January decrease. 

Transportation equipment, also up following two consecutive monthly decreases, led the increase, $3.4

billion or 4.0 percent to $89.8 billion.

DURABLE GOODS – NEW ORDERS

FEBRUARY 2024 $277.9 billion +1.4%°

 JANUARY 2024

(revised) $274.2 billion -6.9%°

Next release: April 24, 2024 

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, March 26, 

2024.

3.3%

1.2%

2.0%

4.3%

-5.6%

-0.1%

4.0%

-5.1%

5.4%

-0.3%

-6.9%

1.4%

-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%

Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24

DURABLE GOODS NEW ORDERS 2023-2024

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, March 26, 2024.
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Unfilled Orders

Unfilled orders for manufactured durable goods in February, up eleven of the last twelve months, 

increased $0.1 billion or virtually unchanged to $1,392.9 billion. This followed a virtually unchanged

January decrease. Transportation equipment, up fourteen of the last fifteen months, drove the increase, 

$0.6 billion or 0.1 percent to $898.1 billion.

Inventories

Inventories of manufactured durable goods in February, up seven consecutive months, increased $1.7 

billion or 0.3 percent to $528.7 billion. This followed a 0.1 percent January increase. Transportation 

equipment, also up seven consecutive months, led the increase, $1.2 billion or 0.7 percent to $170.2

billion. 

Capital Goods

Nondefense new orders for capital goods in February increased $3.5 billion or 4.4 percent to $84.3 billion. 

Shipments increased $2.2 billion or 2.7 percent to $81.9 billion. Unfilled orders increased $2.4 billion or 

0.3 percent to $845.2 billion. Inventories increased $0.7 billion or 0.3 percent to $230.4 billion. Defense 

new orders for capital goods in February decreased $1.7 billion or 12.7 percent to $11.8 billion. Shipments

increased $0.1 billion or 1.0 percent to $14.1 billion. Unfilled orders decreased $2.4 billion or 1.1 percent 

to $205.4 billion. Inventories increased $0.3 billion or 1.4 percent to $25.2 billion.

Revised January Data

Revised seasonally adjusted January figures for all manufacturing industries were: new orders, $568.6

billion (revised from $569.7 billion); shipments, $573.6 billion (revised from $572.3 billion); unfilled orders, 

$1,392.8 billion (revised from $1,395.1 billion) and total inventories, $855.4 billion (revised from $855.8

billion).

Revised and more detailed estimates, plus nondurable goods data, will be published on April 2, 2024, at

10:00 a.m. EDT. The Advance Report on durable goods for March is scheduled for release on April 24, 

2024, 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>.
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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.

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure 

avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board 

(DRB) approval number: CBDRB-FY23-0265).

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 60 percent of the total value of shipments for manufacturing establishments in the 2017

Economic Census, and these companies include roughly 61 percent of the manufacturing companies with 

$500 million or more in shipments in the 2017 Economic Census. The companies for which shipments data 

are currently reported in the M3 survey represent approximately 51 percent of the total value of 

shipments for manufacturing establishments in the 2017 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 
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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>.

Notice of Revisions and Changes Due to Updated Seasonal Adjustment Models

On May 14, 2024, monthly seasonally adjusted data for Manufacturers’ Shipments, Inventories, and Orders will be 

revised for January 2012 through March 2024. There will be no accompanying press release containing revised 

seasonally adjusted data for January through March of 2024, and historical data not seasonally adjusted will be 

unchanged. These revisions to the historical seasonally adjusted data will be based on the results of the recent 

annual review of the seasonal adjustment models. These results of the annual seasonal review will be used to 

produce seasonally adjusted data from the Manufacturers’ Shipments, Inventories, and Orders Survey, beginning 

with the April 2024 Advance Report on Durable Goods scheduled for release on May 24, 2024, and the Full Report 

scheduled for release on June 4, 2024. Please call M3 staff on (301) 763-4832 with any questions.

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

Feb Jan Dec Jan - Dec- Nov - Feb Jan Feb Change

2024 2 2024 r 2023 Feb 2 Jan r Dec 2024 2 2024 r 2023 2024 2023 2024/2023

DURABLE GOODS

 Total:

 Shipments................................ 282,668 279,182 281,317 1.2 -0.8 -0.6 272,836 257,143 259,423 529,979 512,440 3.4

 New Orders4.............................. 277,931 274,186 294,422 1.4 -6.9 -0.3 268,564 252,412 256,827 520,976 511,637 1.8

 Excluding transportation:

 Shipments................................ 192,903 192,849 192,096 0.0 0.4 -0.4 185,622 179,317 177,332 364,939 353,072 3.4

 New Orders4.............................. 187,560 186,687 187,280 0.5 -0.3 -0.2 183,402 177,374 175,178 360,776 349,573 3.2

 Excluding defense:

 Shipments................................ 266,062 262,734 265,288 1.3 -1.0 -0.5 256,203 243,246 244,855 499,449 485,113 3.0

 New Orders4.............................. 263,809 258,253 280,400 2.2 -7.9 0.0 254,963 239,670 242,493 494,633 483,892 2.2

 Manufacturing with unfilled orders:

 Shipments................................ 196,313 194,172 196,328 1.1 -1.1 -0.7 190,329 179,749 179,930 370,078 354,916 4.3

 New Orders.............................. 196,461 193,983 214,255 1.3 -9.5 -0.3 190,837 180,310 182,385 371,147 365,221 1.6

 Primary metals:

 Shipments................................ 26,640 26,390 26,581 0.9 -0.7 -0.4 26,805 26,368 25,799 53,173 52,132 2.0

 New Orders.............................. 26,720 26,356 26,772 1.4 -1.6 0.3 27,701 26,801 26,530 54,502 53,110 2.6

 Fabricated metal products:

 Shipments................................ 36,450 36,269 36,383 0.5 -0.3 0.1 35,533 34,570 33,132 70,103 66,203 5.9

 New Orders.............................. 36,240 35,963 36,400 0.8 -1.2 0.1 36,258 35,362 33,820 71,620 67,735 5.7

 Machinery:

 Shipments................................ 37,895 38,057 37,648 -0.4 1.1 -0.6 36,963 35,035 35,446 71,998 69,207 4.0

 New Orders.............................. 37,618 36,934 37,225 1.9 -0.8 -0.4 37,518 36,354 36,279 73,872 72,766 1.5

 Computers and electronic products4:

 Shipments................................ 29,765 29,720 29,646 0.2 0.2 -0.4 27,611 27,022 26,514 54,633 53,407 2.3

 New Orders.............................. 24,779 25,130 24,879 -1.4 1.0 0.1 22,717 21,937 21,339 44,654 42,159 5.9

 Computers and related products:

 Shipments................................ 2,252 2,213 2,083 1.8 6.2 -0.7 1,881 1,954 1,511 3,835 3,250 18.0

 New Orders.............................. 2,288 2,219 2,086 3.1 6.4 -0.3 1,917 1,960 1,505 3,877 3,265 18.7

 

 Communications equipment:

 Shipments................................ 3,032 3,019 3,013 0.4 0.2 -0.6 2,647 2,421 2,606 5,068 5,100 -0.6

 New Orders.............................. 2,944 2,991 3,271 -1.6 -8.6 1.4 2,671 2,271 2,617 4,942 5,087 -2.9

 Electrical equipment, appliances, 

 and components: 

 Shipments................................ 14,215 14,463 14,112 -1.7 2.5 -0.2 13,624 12,875 12,765 26,499 25,124 5.5

 New Orders.............................. 14,269 14,493 14,194 -1.5 2.1 0.1 13,842 13,331 13,299 27,173 26,380 3.0

 Transportation equipment: 

 Shipments................................ 89,765 86,333 89,221 4.0 -3.2 -1.1 87,214 77,826 82,091 165,040 159,368 3.6

 New Orders.............................. 90,371 87,499 107,142 3.3 -18.3 -0.6 85,162 75,038 81,649 160,200 162,064 -1.2

 Motor vehicles and parts:

 Shipments................................ 61,704 60,822 61,158 1.5 -0.5 0.0 61,160 56,576 58,888 117,736 114,771 2.6

 New Orders.............................. 61,742 60,630 60,950 1.8 -0.5 0.1 61,978 56,859 59,953 118,837 116,381 2.1

 

 Nondefense aircraft and parts:

 Shipments................................ 12,138 9,886 12,926 22.8 -23.5 -7.0 9,960 7,978 8,282 17,938 16,644 7.8

 New Orders.............................. 15,200 12,199 33,411 24.6 -63.5 1.0 10,023 6,376 6,942 16,399 17,128 -4.3

 Defense aircraft and parts:

 Shipments................................ 5,063 4,963 4,840 2.0 2.5 -1.2 4,865 4,171 4,266 9,036 8,248 9.6

 New Orders.............................. 4,646 4,232 4,246 9.8 -0.3 -1.2 3,904 3,696 3,638 7,600 8,526 -10.9

 All other durable goods: 

 Shipments................................ 47,938 47,950 47,726 0.0 0.5 -0.5 45,086 43,447 43,676 88,533 86,999 1.8

 New Orders.............................. 47,934 47,811 47,810 0.3 0.0 -0.6 45,366 43,589 43,911 88,955 87,423 1.8

 Capital goods3:

 Shipments................................ 96,038 93,736 96,023 2.5 -2.4 -1.2 90,941 83,262 85,275 174,203 167,189 4.2

 New Orders.............................. 96,113 94,285 113,765 1.9 -17.1 -1.4 88,838 81,598 84,690 170,436 171,951 -0.9

 Nondefense capital goods:

 Shipments................................ 81,890 79,724 82,231 2.7 -3.0 -1.0 76,721 71,507 72,637 148,228 143,575 3.2

 New Orders.............................. 84,316 80,769 102,519 4.4 -21.2 0.1 77,448 71,191 72,745 148,639 148,816 -0.1

 Excluding aircraft:

 Shipments........................... 74,423 74,723 74,146 -0.4 0.8 0.1 71,469 68,272 68,564 139,741 135,133 3.4

 New Orders.......................... 73,872 73,325 73,617 0.7 -0.4 -0.6 72,184 69,661 70,055 141,845 140,034 1.3

 Defense capital goods:

 Shipments................................ 14,148 14,012 13,792 1.0 1.6 -2.7 14,220 11,755 12,638 25,975 23,614 10.0

 New Orders.............................. 11,797 13,516 11,246 -12.7 20.2 -13.3 11,390 10,407 11,945 21,797 23,135 -5.8

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. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Advance Report, March 26, 2024. 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

Feb Jan Dec Jan - Dec - Nov - Feb Jan Feb 2024/

2024 2 2024 r 2023 Feb 2Jan r Dec 2024 2 2024 r 2023 2023

DURABLE GOODS

 Total:

 Unfilled Orders4......................... 1,392,925 1,392,777 1,392,966 0.0 0.0 1.3 1,394,280 1,393,772 1,280,601 8.9

 Total Inventories....................... 528,734 526,990 526,285 0.3 0.1 0.2 530,447 524,969 523,637 1.3

 Excluding transportation:

 Unfilled Orders4......................... 494,861 495,319 496,674 -0.1 -0.3 0.0 495,792 493,232 499,993 -0.8

 Total Inventories....................... 358,561 358,032 358,555 0.1 -0.1 0.0 360,327 357,332 360,102 0.1

 Excluding defense:

 Unfilled Orders4........................... 1,155,032 1,152,400 1,152,074 0.2 0.0 1.8 1,156,853 1,153,313 1,045,455 10.7

 Total Inventories....................... 498,238 496,848 496,401 0.3 0.1 0.2 500,001 495,063 494,748 1.1

 Manufacturing with unfilled orders:

 Unfilled Orders......................... 1,392,925 1,392,777 1,392,966 0.0 0.0 1.3 1,394,280 1,393,772 1,280,601 8.9

 Total Inventories....................... 427,550 426,385 426,033 0.3 0.1 0.2 427,986 424,498 421,982 1.4

 Primary metals:

 Unfilled Orders......................... 38,676 38,596 38,630 0.2 -0.1 0.5 39,640 38,744 38,744 2.3

 Total Inventories....................... 45,811 45,448 45,599 0.8 -0.3 -0.3 45,900 45,289 47,163 -2.7

 Fabricated metal products:

 Unfilled Orders......................... 129,351 129,561 129,867 -0.2 -0.2 0.0 128,189 127,464 127,956 0.2

 Total Inventories....................... 64,666 64,631 64,644 0.1 0.0 -0.2 64,833 64,580 64,908 -0.1

 Machinery: 

 Unfilled Orders......................... 135,162 135,439 136,562 -0.2 -0.8 -0.3 136,198 135,643 141,916 -4.0

 Total Inventories....................... 95,422 95,372 95,407 0.1 0.0 0.4 95,998 94,552 94,290 1.8

 Computers and electronic products4:

 Unfilled Orders......................... 135,125 135,226 135,009 -0.1 0.2 0.0 135,272 135,386 134,250 0.8

 Total Inventories....................... 55,484 55,388 55,545 0.2 -0.3 0.2 55,448 55,427 55,414 0.1

 Computers and related products:

 Unfilled Orders......................... 1,314 1,278 1,272 2.8 0.5 0.2 1,314 1,278 1,298 1.2

 Total Inventories....................... 3,499 3,512 3,566 -0.4 -1.5 2.5 3,439 3,379 3,564 -3.5

 

 Communications equipment:

 Unfilled Orders......................... 17,698 17,786 17,814 -0.5 -0.2 1.5 18,001 17,977 17,780 1.2

 Total Inventories....................... 4,972 4,966 4,983 0.1 -0.3 -0.7 4,953 4,877 5,016 -1.3

 Electrical equipment, appliances, 

 and components: 

 Unfilled Orders......................... 43,909 43,855 43,825 0.1 0.1 0.2 43,869 43,651 43,671 0.5

 Total Inventories....................... 26,050 26,019 26,287 0.1 -1.0 -0.8 26,419 26,037 26,279 0.5

 Transportation equipment: 

 Unfilled Orders......................... 898,064 897,458 896,292 0.1 0.1 2.0 898,488 900,540 780,608 15.1

 Total Inventories....................... 170,173 168,958 167,730 0.7 0.7 0.9 170,120 167,637 163,535 4.0

 Motor vehicles and parts:

 Unfilled Orders......................... 34,757 34,719 34,911 0.1 -0.5 -0.6 36,225 35,407 36,551 -0.9

 Total Inventories....................... 54,984 54,591 54,321 0.7 0.5 0.1 55,501 54,504 54,170 2.5

 

 Nondefense Aircraft and parts:

 Unfilled Orders......................... 650,512 647,450 645,137 0.5 0.4 3.3 649,569 649,506 531,199 22.3

 Total Inventories....................... 81,331 80,817 79,977 0.6 1.1 1.3 80,876 79,867 77,012 5.0

 Defense Aircraft and parts: 

 Unfilled Orders......................... 71,082 71,499 72,230 -0.6 -1.0 -0.8 71,282 72,243 67,580 5.5

 Total Inventories....................... 14,028 14,055 14,007 -0.2 0.3 0.6 14,060 13,987 13,943 0.8

 All other durable goods: 

 Unfilled Orders......................... 12,638 12,642 12,781 0.0 -1.1 0.7 12,624 12,344 13,456 -6.2

 Total Inventories....................... 71,128 71,174 71,073 -0.1 0.1 -0.2 71,729 71,447 72,048 -0.4

 Capital goods3:

 Unfilled Orders......................... 1,050,633 1,050,558 1,050,009 0.0 0.1 1.7 1,049,379 1,051,482 938,648 11.8

 Total Inventories....................... 255,530 254,495 253,845 0.4 0.3 0.6 255,314 251,977 248,219 2.9

 Nondefense capital goods:

 Unfilled Orders......................... 845,188 842,762 841,717 0.3 0.1 2.5 844,927 844,200 733,885 15.1

 Total Inventories....................... 230,377 229,684 229,233 0.3 0.2 0.6 230,243 227,334 224,505 2.6

 Excluding aircraft: 

 Unfilled Orders.................... 267,605 268,156 269,554 -0.2 -0.5 -0.2 268,761 268,046 275,581 -2.5

 Total Inventories................... 163,201 163,140 163,452 0.0 -0.2 0.3 163,466 161,945 161,263 1.4

 Defense capital goods:

 Unfilled Orders......................... 205,445 207,796 208,292 -1.1 -0.2 -1.2 204,452 207,282 204,763 -0.2

 Total Inventories....................... 25,153 24,811 24,612 1.4 0.8 0.3 25,071 24,643 23,714 5.7

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. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) 

approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Advance Report, March 26, 2024. 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>.