UNITED STATES DEPARTMENT OF ECONOMICS

COMMERCE | otha.
NEWS WASHINGTON, D.C. 20290 mONCENSUS

Bureau of the Census For Release 8:30 A.M. EDT
Steve Andrews or Kathy Menth July 24, 1992
(301) 763-2502 or (301) 763-2575 (CB92-191
M3-1(92)-06

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

New Orders

New orders for manufactured durable goods in June increased $2.8 billion or 2.3 percent to $122.5 billion, the
Department of Commerce, Bureau of the Census reported today. The June increase follows a 2.2 percent decrease in May
and 1.8 percent increase in April. Excluding defense, new orders were up $1.8 billion or 1.6 percent to $115.6 billion.

Except for instruments and related products, all major industry groups increased. Industrial machinery and equipment
had the largest increase, up $0.9 billion or 4.5 percent to $20.9 billion with increases in all categories except computer and
office equipment and farm and garden machinery. Transportation equipment was up $0.6 billion or 1.9 percent to $31.4 billion,
as increases in aircraft and parts and railroad and other transportation equipment more than offset declines in motor vehicles
and parts and shipbuilding and tanks.

Shipments

Shipments of durable goods in June increased $3.5 billion or 2.8 percent to $125.8 billion, with increases in all major
industry groups. This is the first increase since March. The largest increase occurred in transportation equipment, up $1.1
billion or 3.4 percent to $32.9 billion, primarily due to aircraft and parts. Industrial machinery and equipment was up $0.9
billion or 4.4 percent to $21.5 billion, with increases in all categories except farm and garden machinery.

Unfilled Orders

Unfilled orders for durable goods in June decreased $3.2 billion or 0.7 percent to $467.1 billion and are at the lowest
level since $463.7 billion in March 1989. This isthe tenth consecutive monthly decline. Excluding defense, unfilled orders were
down $2.1 billion or 0.6 percent. Transportation equipment had the largest decline, down $1.5 billion or 0.6 percent to $261.1
billion with large decreases in aircraft and parts and shipbuilding and tanks. Transportation equipment has declined in eight
of the last nine months and is at the lowest level since $259.9 billion in December 1989. Industrial machinery and equipment,
down $0.6 billion or 1.1 percent to $51.7 billion, has declined in eight of the last nine months and is at the lowest level since
$51.7 billion in October 1987. Instruments and related products also had a large decrease.

Capital Goods Industries

New orders for nondefense capital goods in June increased $0.3 billion or 0.9 percent to $30.7 billion. The June
increase follows a 1.7 percent increase in May. Shipments were up $2.1 billion or 6.9 percent to $32.7 billion, following a 1.1
percent decline in May. Unfilled orders, down $2.0 billion or 0.9 percent to $230.5 billion, have declined for three consecutive
months and are at the lowest level since $228.4 billion in June 1990, Excluding aircraft and parts, nondefense new orders
increased 3.6 percent, shipments were up 4.3 percent, and unfilled orders declined 0.6 percent.

New orders for defense were up $1.0 billion or 17.6 percent to $6.9 billion, as an increase in aircraft and parts more
than offset declines in all other categories. The June increase follows a 27.6 percent decrease in May. Shipments increased
$0.2 billion or 2.5 percent to $8.0 billion, following a 6.5 percent decline in May. Unfilled orders declined $1.1 billion or 0.8
percent to $135.1 billion, with decreases in all categories except aircraft and parts. Unfilled orders have declined in nine of
the last ten months and are at the lowest level since $133.3 billion in August 1984.

‘This report presents advance information on two key business indicators: durable goods manufacturers’ shipments and ordets. Revised and more detailed
estimates plus nondurable goods and inventory data will be published July 31, 1992. ‘The advance report on durable goods for July is scheduled for

August 26, 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-CENDATA. Further information about accessing CRNDATA can he obtained from Dialoo


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

Seasonally adjusted Not seasonally adjusted’
Item Monthly Percent Change Monthly Percent
change
J M Apr.| May; | Apr] Mar- Jun Ma June
i992 oo 195] june? | ‘Nay “Ap | 19928 992" 1991 | June92/91
DURABLE GOODS
Total :
Shipments . 122290] 123483] +28] -10 137,131} 124,901} 129250] +6.
New orders... | 122'537 | 119°731 | 122303] +23] 22 131854 | 121'808 | 121/822] +82
Unfilled orders 467089 | 470315 | 477 | “07 | 05 4ora3a | ai | 487/400 aI
Shipments 117,726} 114450} 11 06 128,586 | 117,200] 120273] +69
ments .. A x x 0. C Ms ¢
New orders’ | 115\641 | 113'867 | 114292 od 195032 | 116844] 114016 | «$9.7
Unfilled orders 331/948 | 3341033 | 334616 02 332°727 | 336.281 | 339'962 21
With unfilled orders
Shipments -- 103,398} 99.903} 101070] +35] -12| 02] 1689] 100129] 107029] +53
New orders | 100i | 97344} 99'980] 4259] 26] +20] 107412] 96946] 991601] +78
i metals
Shipments .- u2ss| 14224] naz} tos] +10] 415] 1n7e7| 43s] 098 | +62
New orders |): 1ao7| ivti9| nor | 428} «= +05] +40) in736] 11145] 101879) = +79
Unfilled orders’ | 20872 | 20 20835 | +07) “o5} “o2] 2196) —ai'2d7 | 211532 16
i i id i it:
SMpmedte nner” and equipment: | sian} 205 20616 | +44 24s] 20,004] 23,684] +53
New orders |)! 0/909 | 20/01 oat | +45 pas | 19645 | 22303} +77
Unfilled orders’. 51692 | 521274 | S286 t 51587 |  s24a8 | 54,686 57
Blectronic and other
clectrical equipment :
: | 17326] r7aso| 1784] +10 13611] 16887| . 17842 | +43
Rep eeders | : i7ag6 | 17072) 17170 ‘ 16840] 16138 | +136
Unfilled orders 41917 | 40757 | 4183s 421085 | 42/357 | 42/986 24
TeiBmentet szgs| 31872] s2as8] +34] 19] 04] 35692] 34335] 32,848] +87
Newrorders | 31397 | osl1| 32984] +19] 66] 45.7] 331483 2" 29857 | +124
Untitled orders 2222222222] 260! 262/636 | 263,697] 06] 04] 402 734 | 262943 | 271/028 38
CAPITAL GOODS INDUSTRIES?

Totals ipments 4ops| 38407] 39282] +60] 22 45958} 37517] 44325 | +37
Spipments 37560 | 36272] 38002) +36| 46 41798 g 39093 | +69
Untied orders | 365,670 | 368'826 | 370961 | 09] 06 365/001 | 369;161 | 383,817 49

defense : 32,688] 30567] 308% | +69! -4 37413]  29,726| asag| +58
Rhipments 38 | 33362] 39508} 83) xk> ‘ 29701 | 31°87] +118
Nahe een 230529 | 232544) 232'703| 09] “ol ! 232/731 | 236/379 26
Excluding aircraft and parts : 25gs2| 2419] 24846] 443] +03 298s] 24,148] 28,276] 45.7
Repodes 2001. : 25506 24,622 24,288 | +36] +14 28,986 23,985 ‘ +118
New orders, =. 7az24 | 74700) 74°97 016 | 014 73989 | 74887 | 77/510 45
Defense :
ne 8,037 7g} 3386] +25 +11 8,545, 7791 8,977 4g
Shipments... 2+... : 6,896 5,864 8101 | +176 +204 6,822 41964. 77306 -126
New orders = 135141 | 136,282 | 138,258 |” -08 02 | 134,707 | 136430 | 147438 86

(NA) Not avallabie. " Revised

1 Shipments and new orders are the totals for the period and ave adjusted for trading-day and calendar-month variations; unfilled orders are as of the end of the period and are not adjusted
for trading-day oF calendar-month variations.

® Based on advance sample.

3 The Capital Goods industries include Nondefense : ordnance and accessories, seam engines and turbines, internal
metalworking machinery, special industry machinery, general industrial machinery, computer and office equipment, refrig
distribution equipment, electrical industal apparatus, communication equipment, complete aircraf, missles, and space
tank components, railroad equipment, and search and navigation equipment.

Defense capital goods include : ordnance, communication equipment, aircraft, missiles, 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)

ibustion engines, construction mining and material handling equipment,
tion, heating and service industry machinery, electrical transmission and
icles, aircraft missiles, and space vehicle engines and parts, ships and

j Shipments New Orders Unfilled Orders
industry ‘Year ago Tune | June 1991- | Year ago Tune] June 1991-] Year ago Tune | June 1997-
June 1991 |_ 1987-1991 | May 1992] June 1991| 1987-1991 | May 1992] June 1991| 1987-1991] May 1992
Durable goods 02 02 03 0S 06 08 On OL 01
Primary metals . ns 02 11 03 03 1.0 07 04 04 03
Industrial machinery and equipment. - 03 09 06 08 24 09 02 04 02

Hlectronic and other

electrical equipment ........ 04 06 04 09 13 11 01 02 03
Transportation equipment . | | 03 05 0s 02 12 15 01 03 Ol
Nondefense capital goods . 1 0s 07 03 21 15 01 04 01
Defense capital goods... 111.1. 08 13 12 26 53 58 02 02 02



Total Durable Goods

New Orders and Shipments
Three Month Moving Averages

150

Billions of Dollars
150
New Orders
140 - Shipments |] 140
130

120

4 130

120

110 F + 110
100 1 L 4 i 1 1 i i it 1 i 1 L 100
Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun
Jun, 1990-Jun. 1992
NonDefense Capital Goods
New Orders and Shipments
Three Month Moving Averages

Billions of Dollars
45 45

40 -

25 ;

L 1 1 1 L 1 L

—L

1 4 25

Dec Feb Apr Jun Aug Oct Dec
Jun. 1990- Jun. 1992

Feb

Apr Jun

Note: All Charts based on seasonally

adjusted current dollars.