UNITED STATES DEPARTMENT OF ECONOMICS

AND
COMMERCE | wits
ADMINISTRATION
Rl =sS WASHINGTON, D.C. 20230 BORTENSUS

Bureau of the Census For Release 8:30 A.M. EDT
Steve Andrews or Kathy Menth June 24, 1992
(301) 763-2502 or (301) 763-2575 (CB92-175
M3-1(92)-05

ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS! SHIPMENTS AND ORDERS
May 1
(All figures in text below are in seasonally adjusted current dollars)
New Orders

New orders for manufactured durable goods in May decreased $3.0 billion or 2.4 percent to $119.5 billion, the
Department of Commerce, Bureau of the Census reported today. The May decline follows increases of 1.9 percent in April
and: 2.1 percent in March. Excluding defense, new orders were down $0.7 billion or 0.6 percent to $113.7 billion.

Except for stone, lay. and glass products, all major ind groups declined. Transportation equipment had the
largest decline, down $2.1 billion or 6.2 percent to $30.9 billion, due to aircraft and parts and shipbuilding and tanks.
Instruments and related products and electronic and other electrical machinery also had large declines.

Shipments

Shipments of durable goods in May decreased $1.2 billion or 1.0 percent to $122.3 billion, following a small decline
in April. The largest decrease occurred in transportation equipment, down $0.5 billion or 1.4 percent to $32.0 billion, with
decreases in all categories except motor vehicles and parts. Instruments and related products and fabricated metal products
also had large decreases. Primary metals increased $0.1 billion or 0.7 percent to $11.2 billion.

Unfilled Orders

Unfilled orders for durable goods in May decreased $2.7 billion or 0.6 percent to $470.3 billion, and are at the lowest
level since $467.2 billion in May 1989. This is the ninth consecutive monthly decline. Transportation equipment had the largest
decline, down $1.1 billion or 0.4 percent to $262.6 billion. Industrial machinery and equipment, down $0.6 billion or 1.1
percent to $52.3 billion, has declined in seven of the last eight months and is at the lowest level since $51.8 billion in December
1987. Primary metals, down $0.2 billion or 1.0 percent to $20.6 billion, has declined in eight of the last nine months, and is
at the lowest level since $20.3 billion in May 1987. Instruments and related products and fabricated metal products also had
large ines.

Capital Goods Industries

New orders for nondefense capital goods in May increased $0.4 billion or 1.4 percent to $30.3 billion. The May
increase follows a 7.1 percent decrease in April. Shipments were down 1.0 percent, following a 3.3 percent decline in April.
Unfilled orders decreased $0.3 billion or 0.1 percent to $232.4 billion, and are at the lowest level since $231.5 billion in August
1990. Excluding aircraft and parts, nondefense new orders increased 0.7 percent, shipments were up 0.1 percent, and unfilled
orders declined 0.5 percent.

New orders for defense were down $2.3 billion or 27.7 percent to $5.9 billion, with large decreases in aircraft and
parts and shipbuilding and tanks. The May decrease follows a 20.7 percent increase in April. Shipments decreased $0.5 billion
or 6.3 percent to $7.9 billion, following a 1.1 percent increase in April. Unfilled orders, down $2.0 billion or 1.4 percent to
$136.3 billion, have declined in eight of the last nine months, and are at the lowest level since $135.5 billion in October 1984.

The data in this press release are consistent with the revised historical series released June 19, 1992. A report which
includes these data from 1982 through 1991 may be obtained by calling (301) 763-2502. All historical data from January 1958
through March 1992 on tape may be purchased from the Data User Services Division (301) 763-4100.

‘This report presents advance information on two key business indicators: durable goods manufacturers’ shipments and ordess. Revised and more detailed
estimates plus nondurable poods and inventory data will be published July 2, 1992. The advance report on durable goods for June is scheduled for

July 24, 1992. This report is available’ on the day of issue through the Department of Commerce’s online Economic Bulletin Board (N-8-1) (202-377-3870)
and through the Census Bureau’s online information service-CHNDATA. Further information about accessing CENDATA can be obtained from Dialog
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Table 1. DURABLE GOODS MANUFACTURERS’ SHIPMENTS AND ORDERS
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted!
Item Monthly Percent Change Monthly Percent
change
Mi Apr. Mar. Aprs Mar.- Feb.- May Apr. Mi
gone 1982! 1993 | May? | Apr | Mar. 1998 1982 1991 | Mayo2/01
DURABLE GOODS
Total:
Shipments . 261| 123473] 123503) -1.0 oo| +12] 124913) 123504] 120778] +34
New orders 119,531 122,515 120,187 24 +19 +21 121,653 122,674 117,446 +36
Unfilled orders ,27¢ }73,006 473; 06 02 07 472,763 476,023 494,828 4S
defense

Stipmeas . 114,408 115,091 115,209 0.6 O1 +17 117,131 115, 112,680 +4
113,658 114,389 113,457 0.6 +08 +16 116,687 115,886 108,934 +71

artes orders 333; 969 334,719 335,421 0.2 0.2 OS 136, 336,750 346,219 2S

ith unfilled orders.
we ones 99,754 101,055 101,311 13 0.3 +14 99,991 99,415 97,967 +21
New orders 97,024 97,995 31 +21 +24 731 8,585, 94,635, +2.2
Primary met metals
Shipments . 11,189 11,109 10,948 +07 +15 11 11,402 11,372 10,983 +38
New orders 10,984 11,053 10,632 0.6 +40 5.2 11,042 1,263 10,604 +41
Unfilled orders 20,625 20,830 20,886 1.0 03 1S 21,180 21,540 21,751 2.6
Shipments and 20537| 20619] 281) 04] 12] +41] 20072] 20,116} 19901] +09
19,961 20,139 20,623 09 23 +33 19,575 19; 720 20,230 3.2
Uatutes ‘orders 52,265 52,841 53,321 Ald 09 45 12,400 52) 897 56,067 65
Hlectronic and other
ctectrical equipment 7089} 17,187] 17,249 06 04 2.6| 16826] 16508] 16,432 +24
New orders . 16,943 17,170 16,738 13 +26 +10 16,764 16,801 16,041 +45
Unfilled orders 41,686 41,832 41,849 03 0.0 12 42,342, (2,404 44,690 53
s ‘equipment :
480 32,617 14 0.4 0.0 393, 33,605 32,348 +63
SiFent Boo | 30% S343] 493] 3388) BSR 178 | +112
Unfilled ordes 263,722 201, 04 +02 13,049 264,983 274,019 40
CAPITAL GOODS INDUSTRIES?

Total ipments 33,439| 39,280] 40244] 2.1 24) +15] 37576] 37,663 | 37,943, “1.0
Neb orders” 36,195 38,017 38/893, 48 23) +93 34,606 35,679 34'576 +01
Neer ee: N7 370.978 | 372241] 06] 03} oa] 3691082) 3721022 | 3897049. SI
Dec eateend 30586 | 30; 31950] -10} =-33] +33] 29,794] 29,763 | 29,845 02

Nev orders 303 29) 32163 | +14 71) +92 i 28/891 064 | — +13.7
Rew erers,. 232427 | 232691 | 233698] 0.1] 04] = F0T] © 232%595 | 232749 | 240,440 33
“a mene and parts : 24963] 24847] 25,310] +01 +41{ 2447] 23,740] 23,811 +14
ee 7 460 }, 284 25,018 +0.7 +23 23,854 23,312 23,578 +12
Rew orders, 74/589 | 74992 555 05 04] 74757] 75,050] 79.866 “64
7,853 8,382, 8, 294 6.3 +11 S51 7,782, 7,900 8,098 3.9

5,873 8,126, 6,730 277 +20.7 +99 4,966, 6,788 8,512 417

136,307 138,287 138}543 14 0.2 <1. 136,457 139,273 148,609 8.2

(NA) Not available. " Revised.

1 shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-month variations; unfilad orders are as of the end of the petiod and are not adjusted

{or trading-day or calendar-month variations.
2 Based on advance sampie.

3 The Capital Goods industries include Nondefense : ordnance and accessories, steam engines and turbines, internal combustion engines, construction mining and material handiing equipment

metalworking mi
distribution equi

inery, special industry machinery, general industrial machinery,

tank components, railroad equipment, and search and navigation equipment.

Defense capital goods include =

‘computer and office equipment, refrigeration, heating and service industry machinery, electrical transmission
i, olecvealIndustzal apparatisccommunjealion squisment complete alc, missles, and apace vehicles, alcrat mises, ers space vehicle engines and parts, ships and

‘ofdnance, communication equipment, aitcraf, missiles, space vehicles, and pars, 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 May | May 1951-] Year ago May] May 1991-} Year ago May] May 1557-
May 1991 | 1987-1991 | Apr. 1992| May 1991| 1987-1991 | Apr. 1992| May 1991| 1987-1991 | Apr. 1992
Durable 0.1 0.3 02 0.2 0.2 05 0.0 0.0 01
Primary metals . 08 0.5 03 2.0 12 0.7, 0.7 04 0.3
Industrial machinery and equi 0.2 1d 06 OS 13 08 0.2 03 0.2

Electronic and other

electrical equipment o 0.0 0.5 03 03 1.0 11 01 01 03
‘Transportation equipment . 01 02 04 04 06 05 01 02 0.0
Nondefense pie se goods . 0.2 0.7 OS 68 19 14 08 03 01
Defense capital goods . . . 0.2 0.2 05 14 13 18 0.1 01 OL

Note: The revisions are the differences between the month-to-month percent changes of the advance and final estimates. The monthly averages are the simpie averages of the differences, without

regard to sian, for the months specified.