U.S. Department of Commerce | | | |
BUREAU OF THE CENSUS
Washington, D.C. 20233

Official Business
Penalty for Private Use, $300

POSTAGE AND FEES PAI
US DEPARTMENT OF COMMERC

COM-20:

First Class Mail

NOTICE

Revised historical data for Manufacturers’ Shipments,
Inventories, and. Orders will be issued in mid-June. The primary
purpose of the revision is to benchmark the data to the 1989 and
1990 Annual Survey of Manufactures. Less significant revisions
will reflect the addition of data received too late to include in
the monthly press releases, corrections for misclassified
reports, and updating the trading day adjustment methodology.
Revisions related to benchmarking affect all industry categories.

Any questions regarding this announcement can be answered by
calling Steve Andrews on (301) 763-2502.



UNITED STATES DEPARTMENT OF ECONOMICS

COMMERCE | st.
N EWS WASHINGTON, D.C. 20230 me CENSUS

—=4
Bureau of the Census For Release 8:30 A.M. EST
Steve Andrews or Kathy Menth April 23, 1992
(301) 763-2502 or (301) 763-2575 CB92-131

M3-1(92)-03

ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS AND ORDERS
March 1992
(All figures in text below are in seasonally adjusted current dollars)

New Orders

New orders for manufactured durable gc ods in March increase‘ $2.0 billion or 1.6 percent to $122.6 billion, the Department
of Commerce, Bureau of the Census reported today. The March increase follows virtually no change in February and a 2.4 percent
increase in January. Excluding transportation, new orders were up $0.1 billion or 0.1 percent.

Transportation equipment was up $1.9 billion or 6.3 percent to $31.8 billion, primarily due to aircraft and parts and has
increased for three consecutive months. Electronic and other electrical equipment increased $0.3 billion or 1.5 percent to $17.2
billion. Industrial machinery and equipment was up $0.2 billion or 1.1 percent to $20.9 billion. Primary metals declined $0.6 billion
or 5.6 percent to $10.4 billion.

Shipments

Shipments of durable goods in March increased $0.4 billion or 0.3 percent to $125.7 billion, following increases of 3.0
percent in February and 1.5 percent in January. This is the eleventh increase in the last twelve months. Excluding transportation
equipment, shipments were up $0.6 billion or 0.7 percent to $92.4 billion. Electronic and other electrical machinery increased $0.4
billion or 2.2 percent to $17.7 billion and industrial machinery and equipment was up $0.3 billion or 1.7 percent to $21.2 billion.
Transportation equipment was down $0.3 billion or 0.8 percent to $33.3 billion, as a decrease in aircraft and parts more than offset
increases in motor vehicles and parts and railroad and other transportation equipment.

Unfilled Orders

Unfilled orders for durable goods in March decreased $3.1 billion or 0.6 percent to $480.6 billion, and is at the lowest level
since $479.6 billion in August 1989. This is the seventh consecutive monthly decline. Excluding transportation, unfilled orders
decreased $1.6 billion or 0.7 percent to $214.0 billion. Transportation equipment was down $1.5 billion or 0.5 percent to $266.6
billion, and is at the lowest level since $262.1 billion in February 1990. Electronic and other electrical equipment was down $0.5
billion or 1.0 percent to $46.7 billion. Primary metals, down $0.4 billion or 1.9 percent to $19.9 billion, has declined in six of the
last seven months. Industrial machinery and equipment, down $0.3 billion or 0.6 percent to $52.3 billion, has declined in five of
the last six months, and is at the lowest level since $51.9 billion in December 1987.

Capital Goods Industries

New orders for nondefense capital goods in March increased $2.5 billion or 8.1 percent to $33.5 billion, with large increases
in aircraft and parts. The March increase follows a 2.2 percent decrease in February and a 9.4 percent increase in January.
Shipments were up $0.4 billion or 1.2 percent to $33.1 billion. Unfilled orders, led by aircraft and parts, increased $0.4 billion or
0.2 percent to $240.4 billion. Excluding aircraft and parts, nondefense new orders increased 1.2 percent, shipments were up 2.0
percent, and unfilled orders declined 0.5 percent.

New orders for defense were ‘1p $0.5 billion 9° 7.8 percen: ts $6.9 billior, primarily due to search and navigation equipment
and communication equipment. The March increase follows decreses of 18.6 percent in February and 20.0 percent in January.
Shipments decreased $05 billion or 5.6 percent to $8.4 billion, folowing increases of 6.0 percent in February and 0.1 percent in
January. Unfilled orders, down $1.5 billion or 1.1 percent to $140.3 billion, has declined six of the last seven months and is at the
lowest level since $140.1 billion in November 1984.

(SEE BACK PAGE FOR UPCOMING REVISIONS)

‘This report presents advance information on two key business indicators: durable goods manufacturers’ shipments and orders. Revised and more detailed estimates
pl 4 ill be publi

il 30, 1992. ‘on durable goods for April is scheduled for May 27, 1992. ‘This



Table 1. DURABLE GOODS MANUFACTURERS’ SHIPMENTS AND ORDERS
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted!
Item Monthly Percent Change Monthly Percent
change
b Jan | Feds] Jan] Dec. Feb, Mar,
Bee] ee i) Mee] eB] | Be] 1991 | Mar.92/91
DURABLE GOODS
a hipments 125,657 125, 121,615 +03 +3.0 +15 133,845 122,049 +97
i : : / ;
x 120,613 120,567 +16 0.0 +24 131, 120,276 +9.0
Uetiied orders’ | 480°568 ey | Ages 06 -1.0 33 | dassse , 508443 “49
Facluding defense
Shipments. 117,257 116,398 413,221 +07 +28 +16 125,179 115,188 113,055 +10.7
New orders spe | 114353| 112%6| 413] 413| Fae] 126i 114333 | 113439] “+94
Unfilled ord 340,241 Ls 343,915 04 0.6 O1 341,285 342,370 357,136 44
Woonona 105,002 | 104777| 10247] +02| +22] +24] 112057] 102734] 104992] +67
New orders 101,931 100,096 101,426 +18 13 +24 110,032 99,464 103,933 +59
a pments 19.740 108} 1068} -14| +29] +27| 1.084] 10908] 10650] +41
jew orders, 10364 | 10975 | 10099] 56] +a7| 4231 avis! 11250] 10591] +56
Uaniled orders 19913] 20289] 20204] 19] $04) 2B] 201678 | 20/577 | 217246 37
Industrial and
Semen, 21190 | 20841] 20888] +27] 02] +23] 20x] — 20, 296 | +32
orders 30874| 20652] 21002} 411] 17| +58) wie] Iss] Rt +34
Unfilled orde 2/304 | 52,620) 52/809 | 06) +04] +02) S220 | © 53062) 56/013 68
Blectronic and other
clectrical 17334] 17,094] +22] 414 18,643 | 17,026] 17,443 +69
New order 17247| 16381 | 17384] +15 21 17. 16,621 +89
Unfilled orde: ‘i 47,197 47540 -10 07 k 4TS4S 49,722 5S
Transportation 33295] 33573| 30788] 08] +901 +38] as6s6| 33,783] 29, +220
Rumen ee | Ben] BHF) 683) T33) tis) See] Soe] 387) tes
Uitiiled orders 76 x Tiger | “0. 13} "04 268/695 | 2831149 53
CAPITAL GOODS INDUSTRIES
Total :
game | agi} agam| 03] #32) 419 3oes0| 43,738] 442
Shipments a bist} 37310 3a +80 54| +20 44,455 351654 42494 +46
New orders, 380706 386.1 03] Ti] 62] sezais | 383/527} 4057839 $8
Nondefense :
33,094 32,714 31,909 +12 +25 +24 36,898 31,331 34,744
Shipments - 33,455 30/950 fies +81 221 +94 36,729 29°70: 34/963 +51
Aa pore :| 20379 | olor | 241;7@2] +02 07) “1 | 240267} 240/436 | 2547532
Pecluding aircraft and parts: | 26492) 5.902 | 60s +20/ 04! 417] z9sr| 24902] aassa| +34
Shipméats 26098 | 25°79] 26490) +12] 26) +45) 28600] 2473) dote4] = 492
New orders, - waa | 79835) s0018} 05] 02 3} 79329 | 80253] Bel T6, 15
400 | 896 56| +60] +01] 8665) 8358) 8,994 36
Shipments bet 6,360 best 78 18.6 -20.0 T7126 5,953 7531 +26
New orders,» + 10327 | 141869] sadaos| | 18) “04 | 142157 | 143091 | 1517307 61

(NA) Not available. " Revised. P Preiiminary.
Shipments and new orders ave the flals forthe period and are acted for ading day and calendar-month valine; unfied order are a of he end ofthe ped and are not acted

for rading-day oF calender-month variations.

2 Based on advance sample.

3the Capita Goods Incusties include Nondefense orinance and accarsoas, oa engines a ui, combustion engine, cancion mining and materi handing equipment,
metalworking machinery, sy Y.9 ster and office equlpment, ing and sty ‘electrical
Gastocton equipment, sectical Indust apparsttecsommunicalon scuipmen Comploteacrafy isles, andspace veilce,alreh misao, and space while angines and pars, ships and
lank components, ralload equipment, and search and navigalion equipment.

nee capital goods Include ; ordnance, communication equipment, alreraf, miaelles, space vehicles, and parts, ships, tanks and tank components, search and navigation equipment.

Table 2. AVERAGE REVISIONS TO PREVIOUSLY PUBLISHED MONTHLY PERCENT CHANGES
(Based on seasonally adjusted data)

Shipments New Orders Unfilled Orders
Industry Year ago Mar. | Mar. 1051-| Year ago] ___Mar.] Mar. 1991-| Year ago Mar] Mar. 1997-
Mar, 1991 |_ 1987-1991 | Feb. 1992 | Mar. 1991| 1987-1991] Feb. 1992| Mar. 1991] 1987-1991] Feb. 1992
Durable goods O1 0.2 0.1 16 08 OS 04 02 01
Primary metals. 12 0.7 04 22 15 08 0.4 0.4 03
Industrial machin Ty 07 10 04 06 09 07 OS OS 0.
Electronic and other

electrical equipment . 0.2 05 0.3 16 15 1.0 0.6 04 04
‘Transportation equipmes 15 OS 04 6.2 a1 10 08 03 On
Nondefense cay ital goods 1a 08 OSs 49 19 17 04 03 02
Defense capital gc 11 07 0.6 14 5.6. 21 On 0.3 01

Note : The revisions are the differences between the month-to-month percent changes of the advance and final estimates. The monthly averages are the simple averages of the differences, without
teoard to sian. for the months specified.


Billlons of Dollars

Total Durable Goods

New Orders and Shipments
Three Month Moving Averages

150 150
140 4 140
130 130
120 120
110 + -- + 110
100 tL L i 1 I 1 1 i at L i i 1 100
Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar
Mar. 1990 - Mar. 1992
NonDefense Capital Goods
New Orders and Shipments
Three Month Moving Averages

Billions of Dollars

45 45

New Orders

40h Shipments. || 49

Mar May = Jul

1 L L 1 1 i 1 4 1 LI 95

Sep Nov Jan Mar May Jul Sep Nov Jan Mar

Mar. 1990 - Mar. 1992