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FOR RELEASE AT 10:00 AM EDT, TUESDAY, APRIL 4, 2023 

MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS 

FEBRUARY 2023 

Release Number: CB 23-42 M3-2 (23)-02 

April 4, 2023 — The U.S. Census Bureau announces the February full report on manufacturers’ shipments, 

inventories and orders:

MANUFACTURED GOODS – NEW ORDERS

FEBRUARY 2023 $536.4 billion -0.7%° 

JANUARY 2023 

(revised) $540.3 billion -2.1%° 

Next release: May 2, 2023

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, April 4, 2023. 

Summary

New orders for manufactured goods in February, down three of the last four months, decreased $3.9

billion or 0.7 percent to $536.4 billion, the U.S. Census Bureau reported today. This followed a 2.1 percent

January decrease. Shipments, also down three of the last four months, decreased $2.8 billion or 0.5 

percent to $542.8 billion. This followed a 0.3 percent January increase. Unfilled orders, down following

twenty-nine consecutive monthly increases, decreased $1.1 billion or 0.1 percent to $1,155.6 billion. This 

followed a virtually unchanged January increase. The unfilled orders-to-shipments ratio was 6.10, up from 

6.09 in January. Inventories, down two consecutive months, decreased $0.8 billion or 0.1 percent to 

$806.3 billion. This followed a 0.1 percent January decrease. The inventories-to-shipments ratio was 1.49, 

up from 1.48 in January. 

New Orders 

New orders for manufactured durable goods in February, down three of the last four months, decreased

$2.7 billion or 1.0 percent to $268.4 billion, unchanged from the previously published decrease. This 

followed a 5.0 percent January decrease. Transportation equipment, also down three of the last four 

months, led the decrease, $2.6 billion or 2.8 percent to $89.5 billion. New orders for manufactured

nondurable goods decreased $1.2 billion or 0.4 percent to $268.1 billion.

1.8%

0.7%

1.8% 1.8%

-1.0%

0.2% 0.3% 0.4%

-1.9%

1.7%

-2.1%

-0.7%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23

MANUFACTURERS' NEW ORDERS 2022-2023

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, April 4, 2023.
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Shipments

Shipments of manufactured durable goods in February, down two consecutive months, decreased $1.6

billion or 0.6 percent to $274.7 billion, unchanged from the previously published decrease. This followed a

0.4 percent January decrease. Transportation equipment, also down two consecutive months, led the 

decrease, $1.3 billion or 1.4 percent to $90.2 billion. Shipments of manufactured nondurable goods, down 

three of the last four months, decreased $1.2 billion or 0.4 percent to $268.1 billion. This followed a 1.1 

percent January increase. Petroleum and coal products, also down three of the last four months, drove

the decrease, $2.0 billion or 3.5 percent to $55.4 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in February, down following twenty-nine consecutive 

monthly increases, decreased $1.1 billion or 0.1 percent to $1,155.6 billion, unchanged from the 

previously published decrease. This followed a virtually unchanged January increase. Transportation 

equipment, down following twenty-one consecutive monthly increases, led the decrease, $0.7 billion or 

0.1 percent to $683.8 billion.

Inventories

Inventories of manufactured durable goods in February, up twenty-four of the last twenty-five months, 

increased $0.9 billion or 0.2 percent to $493.7 billion, unchanged from the previously published increase. 

This followed a 0.2 percent January decrease. Transportation equipment, up three of the last four months, 

led the increase, $0.6 billion or 0.4 percent to $158.8 billion. Inventories of manufactured nondurable 

goods, down seven of the last eight months, decreased $1.7 billion or 0.5 percent to $312.6 billion. This 

followed a virtually unchanged January decrease. Petroleum and coal products, down three of the last 

four months, drove the decrease, $1.9 billion or 3.7 percent to $49.2 billion. By stage of fabrication, 

February materials and supplies were virtually unchanged in durable goods and decreased 0.8 percent in 

nondurable goods. Work in process was virtually unchanged in both durable and nondurable goods. 

Finished goods increased 0.6 percent in durable goods and decreased 0.5 percent in nondurable goods. 

The Advance Report on durable goods for March is scheduled for release on April 26, 2023, at 8:30 a.m. 

EDT and the Full Report on May 2, 2023, at 10:00 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. 

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 

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. 
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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>.

Benchmark notice

Revised historical data from the Manufacturers’ Shipments, Inventories, and Orders (M3) Survey will be

issued on May 12, 2023. These revisions result from

• Benchmarking the M3 shipments and inventories data to the 2021 and 2020 Annual Survey of 

Manufactures (ASM) data; 

• Incorporating the unfilled orders to shipments ratios obtained for 2021, 2020, and 2019 from the 

Manufacturers’ Unfilled Orders (M3UFO) Survey;

• Adjusting the new orders data to be consistent with the benchmarked shipments and unfilled 

orders data;

• Correcting monthly data for late receipts, reclassifications of reported data, and revisions to 

previously reported data;

• Updating the seasonally adjusted data based on the results of benchmarking and the recent annual 

review of the seasonal adjustment models. 

These revisions will span the seasonally adjusted data for January 2012 through March 2023 and the data 

not seasonally adjusted for January 2017 through March 2023. An updated Press Release will contain

revised monthly tables for January 2023 through March 2023.

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/>. 
Data Inquiries Media Inquiries

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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. Value of Manufacturers' Shipments for Industry Groups1

[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

Industry % Change

Feb. Jan. Dec. Jan. - Dec. - Nov. - Feb. Jan. Dec. Feb. 2023/

2023p 2023r 2022 Feb. Jan. Dec. 2023p 2023r 2022 2022 2023p 2022 2022

 All manufacturing industries.................. 542,788 545,595 543,935 -0.5 0.3 -0.6 500,150 503,450 535,756 482,953 1,003,600 955,522 5.0

 Excluding transportation................... 452,576 454,098 450,166 -0.3 0.9 -1.1 415,488 423,301 437,416 405,956 838,789 808,614 3.7

 Excluding defense.............................. 525,945 528,496 526,734 -0.5 0.3 -0.8 484,021 489,189 516,643 467,611 973,210 927,075 5.0

 With unfilled orders............................ 189,341 189,905 190,801 -0.3 -0.5 0.3 176,349 171,430 194,234 169,425 347,779 330,565 5.2

 Durable goods industries......................... 274,701 276,335 277,490 -0.6 -0.4 0.4 255,471 249,134 279,045 244,095 504,605 475,467 6.1

 Wood products....................................... 12,667 12,725 12,730 -0.5 0.0 -0.6 11,548 10,962 11,054 12,019 22,510 22,958 -2.0

 Nonmetallic mineral products.................... 12,891 12,873 12,568 0.1 2.4 1.0 11,079 11,262 10,894 10,711 22,341 21,325 4.8

 Primary metals....................................... 20,220 20,200 19,940 0.1 1.3 -0.4 19,467 19,801 18,074 19,444 39,268 38,894 1.0

 Iron and steel mills............................ 11,843 11,732 11,810 0.9 -0.7 -0.1 11,347 11,575 10,634 11,100 22,922 22,433 2.2

 Aluminum and nonferrous metals.......... 6,709 6,851 6,633 -2.1 3.3 -1.2 6,576 6,714 6,154 7,014 13,290 13,804 -3.7

 Ferrous metal foundries....................... 1,668 1,617 1,497 3.2 8.0 0.8 1,544 1,512 1,286 1,330 3,056 2,657 15.0

 Fabricated metal products....................... 36,333 36,281 36,407 0.1 -0.3 -0.1 34,106 34,041 33,681 34,080 68,147 67,567 0.9

 Machinery............................................. 38,449 38,516 38,246 -0.2 0.7 -1.0 36,218 34,640 39,040 34,639 70,858 67,167 5.5

 Farm machinery................................. 1,923 1,962 2,127 -2.0 -7.8 -10.7 1,987 1,771 1,856 2,634 3,758 5,125 -26.7

 Construction machinery..................... 3,980 4,115 3,990 -3.3 3.1 0.1 3,852 3,710 3,664 3,239 7,562 5,964 26.8

 Mining, oil field, and 

 gas field machinery.......................... 1,872 1,604 1,586 16.7 1.1 6.7 1,753 1,494 1,794 1,310 3,247 2,536 28.0

 Industrial machinery.......................... 6,247 6,244 5,843 0.0 6.9 -3.6 5,424 5,428 6,947 5,366 10,852 10,856 0.0

 Photographic equipment...................... 516 525 541 -1.7 -3.0 4.6 466 443 612 481 909 910 -0.1

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............ 4,851 4,892 4,843 -0.8 1.0 0.5 4,125 3,979 4,485 3,885 8,104 7,528 7.7

 Metalworking machinery..................... 2,681 2,623 2,654 2.2 -1.2 -4.2 2,490 2,382 2,979 2,436 4,872 4,806 1.4

 Turbines, generators, and other

 power transmission equipment....... 3,506 3,444 3,523 1.8 -2.2 3.0 3,551 3,282 3,359 3,206 6,833 6,333 7.9

 Material handling equipment............... 3,583 3,659 3,618 -2.1 1.1 0.3 3,496 3,449 3,727 3,386 6,945 6,344 9.5

 Computers and electronic products2.......... 29,592 29,571 29,539 0.1 0.1 -0.2 26,504 26,822 32,807 25,527 53,326 50,844 4.9

 Computers........................................ 820 807 744 1.6 8.5 1.2 627 684 838 577 1,311 1,213 8.1

 Computer storage devices..................... 650 666 638 -2.4 4.4 -1.8 503 589 831 485 1,092 997 9.5

 Other peripheral equipment................ 879 916 890 -4.0 2.9 -1.2 693 858 1,143 383 1,551 775 100.1

 Nondefense communications

 equipment.................................... 2,979 2,928 2,950 1.7 -0.7 -1.9 2,416 2,304 4,076 2,493 4,720 4,935 -4.4

 Defense communications equipment.... 219 218 216 0.5 0.9 0.9 217 182 217 207 399 376 6.1

 Audio and video equipment.................... 333 376 347 -11.4 8.4 -5.2 292 362 393 382 654 767 -14.7

 Electronic components......................... 4,743 4,645 4,588 2.1 1.2 -1.4 4,379 4,253 4,622 4,090 8,632 8,113 6.4

 Nondefense search and navigation

 equipment...................................... 1,672 1,673 1,676 -0.1 -0.2 -0.2 1,576 1,473 1,830 1,543 3,049 2,970 2.7

 Defense search and navigation

 equipment..................................... 3,299 3,285 3,329 0.4 -1.3 1.3 3,134 2,740 3,646 3,095 5,874 5,807 1.2

 Electromedical, measuring,

 and control instruments................. 8,682 8,668 8,763 0.2 -1.1 -1.0 7,741 7,483 10,294 7,641 15,224 14,987 1.6

 Electrical equipment, appliances, 

 and components................................... 14,062 14,217 13,738 -1.1 3.5 0.0 12,886 12,464 13,528 11,909 25,350 22,887 10.8

 Electric lighting equipment..................... 1,084 1,078 1,069 0.6 0.8 0.8 989 981 1,052 930 1,970 1,860 5.9

 Household appliances........................ 2,694 2,742 2,690 -1.8 1.9 1.1 2,356 2,235 2,897 2,328 4,591 4,388 4.6

 Electrical equipment............................ 4,175 4,313 4,045 -3.2 6.6 -1.2 3,875 3,746 3,975 3,363 7,621 6,421 18.7

 Batteries........................................... 1,256 1,211 1,147 3.7 5.6 4.3 1,142 1,074 1,198 847 2,216 1,599 38.6

 Transportation equipment........................ 90,212 91,497 93,769 -1.4 -2.4 1.7 84,662 80,149 98,340 76,997 164,811 146,908 12.2

 Automobiles..................................... 7,955 7,720 7,543 3.0 2.3 -1.6 7,607 6,494 7,577 6,480 14,101 12,212 15.5

 Light trucks and utility vehicles.............. 23,066 24,052 24,628 -4.1 -2.3 2.5 21,630 21,064 25,704 19,552 42,694 36,907 15.7

 Heavy duty trucks ............................. 2,822 2,821 2,818 0.0 0.1 3.2 2,621 2,631 2,557 2,128 5,252 4,018 30.7

 Motor vehicle bodies, parts, 

 and trailers.................................... 27,626 27,519 27,317 0.4 0.7 -0.3 27,308 26,142 24,306 25,635 53,450 49,750 7.4

 Nondefense aircraft and parts................ 12,217 12,586 14,570 -2.9 -13.6 3.4 9,663 9,834 19,752 8,371 19,497 16,587 17.5

 Defense aircraft and parts.................. 5,532 5,758 5,696 -3.9 1.1 5.0 5,061 4,727 6,194 5,109 9,788 9,249 5.8

 Ships and boats................................. 3,779 3,774 3,692 0.1 2.2 2.6 3,800 3,153 3,647 3,512 6,953 6,363 9.3

 Furniture and related products.................. 6,226 6,324 6,289 -1.5 0.6 0.7 5,945 5,836 6,176 5,856 11,781 11,390 3.4

 Miscellaneous durable goods................. 14,049 14,131 14,264 -0.6 -0.9 1.0 13,056 13,157 15,451 12,913 26,213 25,527 2.7

 Nondurable goods industries..................... 268,087 269,260 266,445 -0.4 1.1 -1.7 244,679 254,316 256,711 238,858 498,995 480,055 3.9

 Food products....................................... 76,738 76,376 75,991 0.5 0.5 0.1 73,575 73,607 75,166 71,559 147,182 142,718 3.1

 Grain and oilseed milling....................... 9,454 9,411 9,350 0.5 0.7 1.8 9,053 9,290 9,044 8,378 18,343 16,863 8.8

 Dairy products.................................. 11,948 12,006 12,007 -0.5 0.0 0.7 11,123 11,757 12,016 10,807 22,880 21,999 4.0

 Meat, poultry, and seafood products... 22,329 22,404 22,513 -0.3 -0.5 -0.6 21,379 21,086 21,914 21,716 42,465 42,724 -0.6

 Beverage and tobacco products................ 17,084 17,182 17,371 -0.6 -1.1 3.0 15,869 16,144 17,017 13,775 32,013 27,657 15.8

 Beverages......................................... 10,528 10,512 10,311 0.2 1.9 0.4 9,313 9,474 9,957 8,718 18,787 17,513 7.3

 Tobacco............................................ 6,556 6,670 7,060 -1.7 -5.5 7.1 6,556 6,670 7,060 5,057 13,226 10,144 30.4

 Textile mills........................................... 2,214 2,224 2,229 -0.4 -0.2 -0.1 2,135 2,046 1,976 2,262 4,181 4,401 -5.0

 Textile products................................... 1,957 1,952 1,956 0.3 -0.2 1.6 1,909 1,769 1,776 1,936 3,678 3,725 -1.3

 Apparel................................................ 767 779 793 -1.5 -1.8 1.4 713 741 830 680 1,454 1,355 7.3

 Leather and allied products...................... 488 508 504 -3.9 0.8 2.4 454 464 476 380 918 715 28.4

 Paper products...................................... 16,586 16,571 16,371 0.1 1.2 0.5 15,617 16,298 15,788 15,423 31,915 31,205 2.3

 Pulp, paper, and paperboard mills....... 6,207 6,227 6,053 -0.3 2.9 0.8 5,772 6,219 5,893 5,508 11,991 11,319 5.9

 Paperboard containers........................ 5,991 5,945 5,910 0.8 0.6 0.0 5,593 5,856 5,500 5,668 11,449 11,456 -0.1

 Printing................................................. 7,079 7,040 7,017 0.6 0.3 0.2 6,456 6,691 6,938 6,055 13,147 12,172 8.0

 Petroleum and coal products.................. 55,436 57,424 55,939 -3.5 2.7 -9.0 44,860 51,752 50,379 45,543 96,612 92,848 4.1

 Petroleum refineries.......................... 50,023 52,048 50,511 -3.9 3.0 -9.8 40,565 47,388 45,784 41,650 87,953 84,996 3.5

 Chemical products..................................... 67,547 67,032 66,104 0.8 1.4 0.4 62,677 63,859 65,883 60,794 126,536 122,275 3.5

 Pesticides, fertilizers, and other

 agricultural chemicals....................... 3,214 3,220 3,223 -0.2 -0.1 -3.6 3,318 3,053 3,286 3,334 6,371 6,420 -0.8

 Pharmaceuticals and medicines............. 23,559 23,258 23,217 1.3 0.2 2.0 21,260 22,168 23,896 18,927 43,428 38,335 13.3

 Paints, coatings, and adhesives.......... 3,825 3,784 3,820 1.1 -0.9 0.6 3,448 3,386 3,258 3,406 6,834 6,726 1.6

 Plastics and rubber products.................. 22,191 22,172 22,170 0.1 0.0 -0.2 20,414 20,945 20,482 20,451 41,359 40,984 0.9

Year to date

p

 Preliminary 

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

 Estimates and percent changes of shipments for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals. 

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. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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. Value of Manufacturers' New Orders for Industry Groups1

[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

Industry % Change

Feb. Jan. Dec. Jan. - Dec. - Nov. - Feb. Jan. Dec. Feb. 2023/

2023p 2023r 2022 Feb. Jan. Dec. 2023p 2023r 2022 2022 2023p 2022 2022

All manufacturing industries2........................ 536,443 540,321 551,694 -0.7 -2.1 1.7 497,375 504,364 553,398 488,963 1,001,739 972,652 3.0

 Excluding transportation2...................... 446,920 448,214 444,650 -0.3 0.8 -1.2 413,219 421,930 431,585 405,559 835,149 810,077 3.1

 Excluding defense2

.............................. 519,528 522,070 534,098 -0.5 -2.3 1.8 481,520 489,668 529,099 474,092 971,188 946,589 2.6

 With unfilled orders2............................. 188,231 189,939 203,876 -0.9 -6.8 7.0 178,423 178,160 216,712 179,991 356,583 357,445 -0.2

 Durable goods industries2......................... 268,356 271,061 285,249 -1.0 -5.0 5.1 252,696 250,048 296,687 250,105 502,744 492,597 2.1

 Primary metals........................................ 20,170 20,140 19,943 0.1 1.0 -0.6 20,047 20,258 18,356 20,094 40,305 40,522 -0.5

 Iron and steel mills.............................. 11,890 11,670 11,865 1.9 -1.6 -0.2 11,759 11,737 10,785 11,500 23,496 23,202 1.3

 Aluminum and nonferrous metals.......... 6,618 6,904 6,598 -4.1 4.6 -0.7 6,693 7,001 6,214 7,180 13,694 14,436 -5.1

 Ferrous metal foundries....................... 1,662 1,566 1,480 6.1 5.8 -3.3 1,595 1,520 1,357 1,414 3,115 2,884 8.0

 Fabricated metal products........................ 36,016 35,936 36,157 0.2 -0.6 -0.4 34,642 34,815 32,588 35,126 69,457 69,979 -0.7

 Machinery............................................. 38,242 38,481 38,163 -0.6 0.8 -2.1 36,998 37,155 38,111 36,502 74,153 72,226 2.7

 Construction machinery........................ 3,692 3,801 3,804 -2.9 -0.1 -5.6 3,733 3,979 3,666 3,547 7,712 6,904 11.7

 Mining, oil field, and

 gas field machinery.......................... 1,921 1,618 1,593 18.7 1.6 7.5 1,802 1,508 1,801 1,203 3,310 2,471 34.0

 Industrial machinery............................ 6,288 6,483 5,956 -3.0 8.8 -4.5 5,347 6,385 6,648 5,677 11,732 11,705 0.2

 Photographic equipment....................... 575 532 541 8.1 -1.7 -3.2 635 459 505 515 1,094 948 15.4

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 4,802 5,004 4,968 -4.0 0.7 -1.4 4,213 4,463 4,612 4,130 8,676 8,437 2.8

 Metalworking machinery....................... 2,657 2,610 2,545 1.8 2.6 -2.9 2,752 2,487 2,638 2,481 5,239 5,057 3.6

 Turbines, generators, and other 

 power transmission equipment........... 3,544 3,281 3,542 8.0 -7.4 4.9 3,589 3,119 3,378 3,342 6,708 6,439 4.2

 Material handling equipment.................. 3,648 3,760 3,662 -3.0 2.7 -1.5 3,588 3,677 4,069 3,614 7,265 7,005 3.7

 Computers and electronic products2........... 24,221 24,187 24,141 0.1 0.2 -0.7 21,501 20,955 29,170 20,845 42,456 41,621 2.0

 Computers........................................ 810 827 740 -2.1 11.8 3.2 617 704 834 573 1,321 1,197 10.4

 Nondefense communications

 equipment...................................... 2,897 2,925 3,012 -1.0 -2.9 4.3 2,405 2,269 4,420 2,529 4,674 5,121 -8.7

 Defense communications equipment....... 215 212 199 1.4 6.5 -3.4 217 185 219 200 402 370 8.6

 Electronic components......................... 4,626 4,468 4,486 3.5 -0.4 -0.8 4,253 4,239 4,794 4,165 8,492 8,511 -0.2

 Nondefense search and navigation

 equipment...................................... 1,751 1,731 1,865 1.2 -7.2 4.2 1,647 1,606 1,840 1,721 3,253 3,378 -3.7

 Defense search and navigation

 equipment...................................... 3,256 3,268 3,073 -0.4 6.3 -6.5 3,041 2,475 4,109 2,679 5,516 5,101 8.1

 Electromedical, measuring,

 and control instruments..................... 8,723 8,717 8,809 0.1 -1.0 -1.1 7,756 7,590 10,506 7,653 15,346 15,250 0.6

 Electrical equipment, appliances, 

 and components................................... 14,275 14,179 13,920 0.7 1.9 0.8 13,440 13,040 13,501 12,480 26,480 24,115 9.8

 Electric lighting equipment..................... 1,098 1,057 1,129 3.9 -6.4 -1.1 1,017 964 1,094 965 1,981 1,890 4.8

 Household appliances.......................... 2,910 2,840 2,768 2.5 2.6 -2.5 2,332 2,270 3,106 2,237 4,602 4,197 9.6

 Electrical equipment............................ 4,129 4,264 3,981 -3.2 7.1 2.9 4,089 4,190 3,605 3,879 8,279 7,570 9.4

 Transportation equipment........................ 89,523 92,107 107,044 -2.8 -14.0 15.8 84,156 82,434 121,813 83,404 166,590 162,575 2.5

 Motor vehicle bodies, parts, 

 and trailers..................................... 27,807 27,573 27,172 0.8 1.5 -0.7 28,185 26,490 24,988 26,365 54,675 50,955 7.3

 Nondefense aircraft and parts................ 11,238 12,037 27,559 -6.6 -56.3 105.6 8,500 11,162 37,979 14,025 19,662 32,521 -39.5

 Defense aircraft and parts.................... 5,376 6,048 5,896 -11.1 2.6 20.1 4,556 5,543 7,686 4,935 10,099 7,937 27.2

 Ships and boats.................................. 3,430 4,047 4,252 -15.2 -4.8 7.1 4,427 3,955 4,925 4,253 8,382 6,610 26.8

 Furniture and related products................... 6,328 6,349 6,310 -0.3 0.6 3.2 6,255 6,057 5,740 5,912 12,312 11,601 6.1

 Nondurable goods industries..................... 268,087 269,260 266,445 -0.4 1.1 -1.7 244,679 254,316 256,711 238,858 498,995 480,055 3.9

Year to date

p

 Preliminary 

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

 Data on new orders are not available for the semiconductor industry. Estimates and percent changes for new orders exclude semiconductor industry data. 

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. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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 3. Value of Manufacturers' Unfilled Orders for Industry Groups1

[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 % Change

Industry February

Feb. Jan. Dec. Jan. - Dec. - Nov. - Feb. Jan. Dec. Feb. 2023/

2023p 2023r 2022 Feb. Jan. Dec. 2023p 2023r 2022 2022 2022

All manufacturing industries2...................... 1,155,564 1,156,674 1,156,640 -0.1 0.0 1.1 1,161,839 1,159,765 1,153,035 1,101,481 5.5

 Excluding transportation2...................... 471,725 472,146 472,722 -0.1 -0.1 0.0 472,774 470,194 465,749 467,585 1.1

 Excluding defense2............................. 938,355 939,537 940,655 -0.1 -0.1 1.4 944,108 941,760 935,465 892,077 5.8

 Durable goods industries2

........................ 1,155,564 1,156,674 1,156,640 -0.1 0.0 1.1 1,161,839 1,159,765 1,153,035 1,101,481 5.5

 Primary metals........................................ 30,446 30,496 30,556 -0.2 -0.2 0.0 31,097 30,517 30,060 31,873 -2.4

 Iron and steel mills............................... 16,188 16,141 16,203 0.3 -0.4 0.3 16,374 15,962 15,800 16,435 -0.4

 Aluminum and nonferrous metals............. 10,113 10,204 10,151 -0.9 0.5 -0.3 10,482 10,365 10,078 11,447 -8.4

 Ferrous metal foundries........................ 4,145 4,151 4,202 -0.1 -1.2 -0.4 4,241 4,190 4,182 3,991 6.3

 Fabricated metal products......................... 116,578 116,895 117,240 -0.3 -0.3 -0.2 115,420 114,884 114,110 116,382 -0.8

 Machinery.............................................. 133,049 133,256 133,291 -0.2 0.0 -0.1 134,305 133,525 131,010 129,981 3.3

 Construction machinery......................... 9,057 9,345 9,659 -3.1 -3.3 -1.9 9,598 9,717 9,448 10,205 -5.9

 Mining, oil field, and

 gas field machinery.......................... 5,247 5,198 5,184 0.9 0.3 0.1 5,247 5,198 5,184 5,002 4.9

 Industrial machinery............................. 13,274 13,233 12,994 0.3 1.8 0.9 13,293 13,370 12,413 11,766 13.0

 Photographic equipment........................ 3,221 3,162 3,155 1.9 0.2 0.0 3,297 3,128 3,112 3,191 3.3

 Ventilation, heating, air-conditioning,

 and refrigeration equipment................ 12,514 12,563 12,451 -0.4 0.9 1.0 12,556 12,468 11,984 10,186 23.3

 Metalworking machinery........................ 8,226 8,250 8,263 -0.3 -0.2 -1.3 8,395 8,133 8,028 8,645 -2.9

 Turbines, generators, and other 

 power transmission equipment............ 33,134 33,096 33,259 0.1 -0.5 0.1 33,134 33,096 33,259 33,525 -1.2

 Material handling equipment................... 17,615 17,550 17,449 0.4 0.6 0.3 17,865 17,773 17,545 16,471 8.5

 Computers and electronic products2

............. 139,855 139,991 140,067 -0.1 -0.1 -0.1 140,044 140,198 140,249 139,529 0.4

 Computers......................................... 1,187 1,197 1,177 -0.8 1.7 -0.3 1,187 1,197 1,177 1,203 -1.3

 Nondefense communications

 equipment...................................... 20,570 20,652 20,655 -0.4 0.0 0.3 20,747 20,758 20,793 21,188 -2.1

 Defense communications equipment........ 280 284 290 -1.4 -2.1 -5.5 297 297 294 334 -11.1

 Electronic components.......................... 15,448 15,565 15,742 -0.8 -1.1 -0.6 15,660 15,786 15,800 16,170 -3.2

 Nondefense search and navigation

 equipment....................................... 32,720 32,641 32,583 0.2 0.2 0.6 32,705 32,634 32,501 31,499 3.8

 Defense search and navigation

 equipment....................................... 38,147 38,190 38,207 -0.1 0.0 -0.7 37,983 38,076 38,341 38,252 -0.7

 Electromedical, measuring,

 and control instruments...................... 31,503 31,462 31,413 0.1 0.2 0.1 31,465 31,450 31,343 30,883 1.9

 Electrical equipment, appliances, 

 and components.................................... 40,544 40,331 40,369 0.5 -0.1 0.5 40,790 40,236 39,660 38,029 7.3

 Electric lighting equipment..................... 2,456 2,442 2,463 0.6 -0.9 2.5 2,470 2,442 2,459 2,183 13.1

 Household appliances........................... 5,439 5,223 5,125 4.1 1.9 1.5 5,321 5,345 5,310 5,216 2.0

 Electrical equipment............................. 16,477 16,523 16,572 -0.3 -0.3 -0.4 16,706 16,492 16,048 15,362 8.7

 Transportation equipment......................... 683,839 684,528 683,918 -0.1 0.1 2.0 689,065 689,571 687,286 633,896 8.7

 Motor vehicle bodies, parts, 

 and trailers...................................... 27,834 27,653 27,599 0.7 0.2 -0.5 28,966 28,089 27,741 28,952 0.0

 Nondefense aircraft and parts................ 464,502 465,481 466,030 -0.2 -0.1 2.9 467,858 469,021 467,693 421,267 11.1

 Defense aircraft and parts..................... 59,976 60,132 59,842 -0.3 0.5 0.3 60,612 61,117 60,301 57,246 5.9

 Ships and boats.................................. 51,682 52,031 51,758 -0.7 0.5 1.1 52,445 51,818 51,016 49,854 5.2

 Furniture and related products................... 9,919 9,817 9,792 1.0 0.3 0.2 9,784 9,474 9,253 10,415 -6.1

p

 Preliminary 

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

 Data on unfilled orders are not available for the semiconductor industry. Estimates and percent changes for unfilled orders exclude semiconductor industry data. 

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. For further details on survey design, methodology, and data limitations see 

<http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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 4. Value of Manufacturers' Inventories for Industry Groups1

[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 % Change

Industry February

Feb. Jan. Dec. Jan. - Dec. - Nov. - Feb. Jan. Dec. Feb. 2023/

2023p 2023r 2022 Feb. Jan. Dec. 2023p 2023r 2022 2022 2022

 All manufacturing industries...................... 806,287 807,050 807,903 -0.1 -0.1 0.4 808,464 803,969 786,589 775,049 4.3

 Excluding transportation........................ 647,463 648,826 649,273 -0.2 -0.1 0.2 649,477 646,728 633,691 620,481 4.7

 Excluding defense............................. 778,965 779,798 780,881 -0.1 -0.1 0.4 781,269 776,941 759,759 749,284 4.3

 With unfilled orders............................. 396,254 395,580 396,372 0.2 -0.2 1.0 396,554 393,841 386,725 379,611 4.5

 Durable goods industries........................ 493,702 492,777 493,533 0.2 -0.2 0.7 495,503 491,100 480,663 474,388 4.5

 Wood products........................................ 14,295 14,397 14,524 -0.7 -0.9 -0.4 14,759 14,699 14,504 14,898 -0.9

 Nonmetallic mineral products..................... 16,696 16,683 16,628 0.1 0.3 0.1 16,945 16,710 16,359 15,636 8.4

 Primary metals......................................... 38,504 38,381 38,464 0.3 -0.2 0.5 38,658 38,556 38,065 38,515 0.4

 Iron and steel mills............................... 22,624 22,505 22,412 0.5 0.4 0.7 22,701 22,774 22,241 23,050 -1.5

 Aluminum and nonferrous metals............ 13,076 13,057 13,257 0.1 -1.5 0.3 13,077 12,951 13,089 12,774 2.4

 Ferrous metal foundries........................ 2,804 2,819 2,795 -0.5 0.9 0.5 2,880 2,831 2,735 2,691 7.0

 Fabricated metal products......................... 62,137 62,253 62,373 -0.2 -0.2 0.0 62,308 62,198 61,200 61,389 1.5

 Machinery.............................................. 89,002 88,663 88,379 0.4 0.3 1.5 89,463 87,677 86,158 79,903 12.0

 Farm machinery.................................. 5,717 5,705 5,687 0.2 0.3 2.1 6,020 5,815 5,688 5,668 6.2

 Construction machinery......................... 7,941 7,949 7,817 -0.1 1.7 2.1 8,032 7,883 7,576 6,690 20.1

 Mining, oil field, 

 and gas field machinery.................... 6,828 6,755 6,562 1.1 2.9 1.1 6,916 6,698 6,295 5,990 15.5

 Industrial machinery............................. 11,464 11,453 11,690 0.1 -2.0 1.9 11,320 10,851 11,925 9,996 13.2

 Photographic equipment....................... 1,414 1,415 1,412 -0.1 0.2 -0.4 1,448 1,425 1,357 1,413 2.5

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 8,438 8,427 8,491 0.1 -0.8 2.0 8,725 8,434 7,935 7,003 24.6

 Metalworking machinery........................ 6,941 6,972 6,880 -0.4 1.3 1.8 6,858 6,842 6,755 6,354 7.9

 Turbines, generators, and other

 power transmission equipment............ 11,163 11,096 10,945 0.6 1.4 2.5 11,161 10,969 10,420 9,979 11.8

 Material handling equipment.................. 7,486 7,377 7,313 1.5 0.9 1.6 7,372 7,264 6,951 6,494 13.5

 Computers and electronic products2

............ 53,001 53,069 53,211 -0.1 -0.3 0.2 52,978 52,940 51,900 51,242 3.4

 Computers......................................... 1,958 2,057 2,116 -4.8 -2.8 -1.1 1,873 1,951 2,019 1,971 -5.0

 Computer storage devices.................... 782 772 787 1.3 -1.9 -5.3 792 747 754 868 -8.8

 Other peripheral equipment................... 967 925 942 4.5 -1.8 -1.2 997 917 936 847 17.7

 Nondefense communications

 equipment...................................... 4,811 4,862 4,912 -1.0 -1.0 2.4 4,792 4,764 4,575 4,596 4.3

 Defense communications equipment........ 667 661 659 0.9 0.3 0.6 667 661 659 685 -2.6

 Audio and video equipment.................... 1,131 1,083 1,064 4.4 1.8 -0.7 1,108 1,049 1,024 975 13.6

 Electronic components.......................... 9,773 9,876 10,052 -1.0 -1.8 -1.2 9,870 10,124 9,878 10,158 -2.8

 Nondefense search and navigation

 equipment...................................... 3,544 3,519 3,535 0.7 -0.5 0.4 3,523 3,517 3,453 3,225 9.2

 Defense search and navigation

 equipment....................................... 2,823 2,836 2,839 -0.5 -0.1 -0.1 2,852 2,836 2,756 2,881 -1.0

 Electromedical, measuring 

 and control instruments...................... 18,376 18,321 18,240 0.3 0.4 0.6 18,227 18,076 17,790 17,183 6.1

 Electrical equipment, appliances, 

 and components.................................... 23,852 23,745 23,904 0.5 -0.7 0.8 24,154 23,802 23,008 22,352 8.1

 Electric lighting equipment..................... 2,120 2,120 2,124 0.0 -0.2 0.2 2,140 2,158 2,078 2,130 0.5

 Household appliances........................... 3,190 3,140 3,299 1.6 -4.8 2.8 3,233 3,077 2,982 3,156 2.4

 Electrical equipment............................. 8,341 8,318 8,340 0.3 -0.3 1.3 8,503 8,444 8,166 7,493 13.5

 Batteries............................................ 1,599 1,620 1,637 -1.3 -1.0 0.2 1,549 1,515 1,483 1,550 -0.1

 Transportation equipment......................... 158,824 158,224 158,630 0.4 -0.3 1.1 158,987 157,241 152,898 154,568 2.9

 Automobiles....................................... 6,564 6,494 6,515 1.1 -0.3 -2.9 6,551 6,470 6,026 6,555 -0.1

 Light trucks and utility vehicles.............. 9,717 9,624 9,590 1.0 0.4 -2.0 10,056 9,364 8,090 9,403 6.9

 Heavy duty trucks ............................... 2,817 2,817 2,819 0.0 -0.1 -4.1 2,932 2,803 2,582 2,913 0.7

 Motor vehicle bodies, parts, 

 and trailers...................................... 32,963 32,907 32,735 0.2 0.5 1.0 33,028 33,084 31,988 31,728 4.1

 Nondefense aircraft and parts................ 75,834 75,559 76,484 0.4 -1.2 2.5 75,629 74,965 74,168 75,401 0.3

 Defense aircraft and parts..................... 12,878 12,943 12,784 -0.5 1.2 -0.4 12,904 12,910 12,688 12,684 1.7

 Ships and boats.................................. 4,764 4,679 4,764 1.8 -1.8 0.0 4,596 4,504 4,713 4,018 14.4

 Furniture and related products.................... 9,968 9,974 10,072 -0.1 -1.0 0.3 9,933 10,042 9,809 9,496 4.6

 Miscellaneous durable goods..................... 27,423 27,388 27,348 0.1 0.1 -0.2 27,318 27,235 26,762 26,389 3.5

 Nondurable goods industries...................... 312,585 314,273 314,370 -0.5 0.0 -0.1 312,961 312,869 305,926 300,661 4.1

 Food products........................................ 64,689 64,696 64,474 0.0 0.3 0.5 65,051 64,980 64,423 61,722 5.4

 Grain and oilseed milling........................ 7,929 7,862 7,828 0.9 0.4 -0.3 8,242 8,065 7,813 7,645 7.8

 Dairy products.................................... 9,692 9,701 9,671 -0.1 0.3 1.1 9,677 9,543 9,229 8,913 8.6

 Meat, poultry, and seafood products....... 10,896 10,951 10,964 -0.5 -0.1 -0.3 10,978 10,800 10,667 10,589 3.7

 Beverage and tobacco products................ 28,578 28,486 28,367 0.3 0.4 -0.2 28,930 28,832 28,198 28,272 2.3

 Beverages......................................... 25,007 24,939 24,789 0.3 0.6 0.0 25,179 25,102 24,481 24,395 3.2

 Tobacco............................................ 3,571 3,547 3,578 0.7 -0.9 -1.1 3,751 3,730 3,717 3,877 -3.2

 Textile mills............................................ 3,530 3,545 3,610 -0.4 -1.8 -1.7 3,530 3,556 3,578 3,425 3.1

 Textile products...................................... 4,151 4,176 4,224 -0.6 -1.1 -1.4 4,189 4,229 4,197 4,243 -1.3

 Apparel................................................. 2,436 2,445 2,468 -0.4 -0.9 0.4 2,337 2,379 2,309 1,996 17.1

 Leather and allied products....................... 1,198 1,198 1,232 0.0 -2.8 -1.4 1,175 1,196 1,199 969 21.3

 Paper products....................................... 16,706 16,632 16,619 0.4 0.1 -0.5 16,759 16,690 16,400 16,326 2.7

 Pulp, paper, and paperboard mills........... 5,083 5,067 5,066 0.3 0.0 0.1 5,148 5,078 5,046 4,956 3.9

 Paperboard containers......................... 6,223 6,196 6,165 0.4 0.5 -0.4 6,252 6,279 6,123 5,915 5.7

 Printing.................................................. 6,477 6,496 6,521 -0.3 -0.4 0.6 6,435 6,432 6,352 6,251 2.9

 Petroleum and coal products..................... 49,232 51,121 51,270 -3.7 -0.3 0.2 47,965 49,144 46,573 44,812 7.0

 Petroleum refineries............................. 42,132 44,094 44,281 -4.4 -0.4 0.3 40,781 42,086 39,727 38,318 6.4

 Chemical products..................................... 103,957 103,885 103,902 0.1 0.0 -0.3 104,638 103,785 101,617 101,825 2.8

 Pesticides, fertilizers, and other

 agricultural chemicals........................ 6,621 6,517 6,663 1.6 -2.2 -2.4 7,046 6,884 6,695 6,467 9.0

 Pharmaceuticals and medicines.............. 43,838 43,730 43,181 0.2 1.3 0.7 43,700 43,750 41,967 42,554 2.7

 Paints, coatings, and adhesives.............. 5,233 5,220 5,243 0.2 -0.4 -1.0 5,331 5,247 5,041 4,666 14.3

 Plastics and rubber products..................... 31,631 31,593 31,683 0.1 -0.3 -0.6 31,952 31,646 31,080 30,820 3.7

p Preliminary 

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

 Estimates of inventories for the semiconductor industry data are included in computers and electronic products, and all other applicable aggregate totals. 

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. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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 5. Value of Manufacturers' Shipments, New Orders, Unfilled Orders, and Total Inventories for 

 Topical Series1, 2

[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

Industry % Change6

Feb. Jan. Dec. Jan. - Dec. - Nov. - Feb. Jan. Dec. Feb. 2023/

2023p 2023r 2022 Feb. Jan. Dec. 2023p 2023r 2022 2022 2023p 2022 2022

SHIPMENTS

 All manufacturing industries......................... 542,788 545,595 543,935 -0.5 0.3 -0.6 500,150 503,450 535,756 482,953 1,003,600 955,522 5.0

 Construction materials and supplies....... 61,298 61,301 61,231 0.0 0.1 -0.1 54,710 54,169 54,132 54,788 108,879 107,925 0.9

 Information technology......................... 24,983 25,016 24,963 -0.1 0.2 -0.5 22,266 21,624 28,367 21,803 43,890 42,510 3.2

 Computers and related products........... 2,349 2,389 2,272 -1.7 5.1 -0.6 1,823 2,131 2,812 1,445 3,954 2,985 32.5

 Motor vehicle and parts......................... 61,469 62,112 62,306 -1.0 -0.3 0.8 59,166 56,331 60,144 53,795 115,497 102,887 12.3

 Capital goods...................................... 97,699 98,539 100,220 -0.9 -1.7 0.8 89,197 85,980 111,816 84,690 175,177 163,823 6.9

 Nondefense capital goods3.................. 83,076 83,685 85,164 -0.7 -1.7 0.1 75,048 73,546 94,985 71,191 148,594 138,778 7.1

 Excluding aircraft............................. 75,214 75,301 74,649 -0.1 0.9 -0.6 69,680 67,788 79,413 66,491 137,468 129,370 6.3

 Defense capital goods4........................ 14,623 14,854 15,056 -1.6 -1.3 5.1 14,149 12,434 16,831 13,499 26,583 25,045 6.1

 Consumer goods.................................. 229,302 231,825 230,275 -1.1 0.7 -1.6 209,727 216,035 225,897 200,303 425,762 398,692 6.8

 Consumer durable goods..................... 45,387 46,471 46,897 -2.3 -0.9 1.1 42,901 40,762 48,171 39,628 83,663 75,293 11.1

 Consumer nondurable goods................ 183,915 185,354 183,378 -0.8 1.1 -2.3 166,826 175,273 177,726 160,675 342,099 323,399 5.8

 All manufacturing industries5...................... 536,443 540,321 551,694 -0.7 -2.1 1.7 497,375 504,364 553,398 488,963 1,001,739 972,652 3.0

 Construction materials and supplies....... 61,107 61,166 61,044 -0.1 0.2 -0.6 55,118 55,011 53,390 55,622 110,129 110,179 0.0

 Information technology......................... 25,052 25,058 25,091 0.0 -0.1 -0.5 22,743 21,717 29,379 21,747 44,460 42,917 3.6

 Computers and related products........... 2,339 2,409 2,268 -2.9 6.2 0.0 1,813 2,151 2,808 1,441 3,964 2,969 33.5

 Motor vehicle and parts......................... 61,650 62,166 62,161 -0.8 0.0 0.6 60,043 56,679 60,826 54,525 116,722 104,092 12.1

 Capital goods...................................... 96,344 98,705 114,303 -2.4 -13.6 14.7 88,785 90,225 133,152 92,605 179,010 184,538 -3.0

 Nondefense capital goods3.................. 81,894 83,093 99,115 -1.4 -16.2 17.6 75,332 77,773 112,019 79,509 153,105 161,510 -5.2

 Excluding aircraft............................. 75,072 75,127 74,768 -0.1 0.5 -0.2 71,167 70,784 78,376 69,086 141,951 136,128 4.3

 Defense capital goods4........................ 14,450 15,612 15,188 -7.4 2.8 -1.3 13,453 12,452 21,133 13,096 25,905 23,028 12.5

 Consumer goods.................................. 229,532 231,877 230,384 -1.0 0.6 -1.6 209,886 216,147 225,891 200,341 426,033 398,774 6.8

 Consumer durable goods..................... 45,617 46,523 47,006 -1.9 -1.0 1.1 43,060 40,874 48,165 39,666 83,934 75,375 11.4

 Consumer nondurable goods.............. 183,915 185,354 183,378 -0.8 1.1 -2.3 166,826 175,273 177,726 160,675 342,099 323,399 5.8

 All manufacturing industries5...................... 1,155,564 1,156,674 1,156,640 -0.1 0.0 1.1 1,161,839 1,159,765 1,153,035 1,101,481 (X) (X) 5.5

 Construction materials and supplies....... 89,284 89,475 89,610 -0.2 -0.2 -0.2 88,110 87,702 86,860 87,115 (X) (X) 1.1

 Information technology......................... 143,800 143,731 143,689 0.0 0.0 0.1 143,974 143,497 143,404 141,818 (X) (X) 1.5

 Computers and related products........... 1,187 1,197 1,177 -0.8 1.7 -0.3 1,187 1,197 1,177 1,203 (X) (X) -1.3

 Motor vehicle and parts......................... 27,834 27,653 27,599 0.7 0.2 -0.5 28,966 28,089 27,741 28,952 (X) (X) 0.0

 Capital goods...................................... 851,624 852,979 852,813 -0.2 0.0 1.7 855,919 856,331 852,086 800,886 (X) (X) 6.9

 Nondefense capital goods3.................. 662,765 663,947 664,539 -0.2 -0.1 2.1 667,064 666,780 662,553 614,360 (X) (X) 8.6

 Excluding aircraft............................. 267,065 267,207 267,381 -0.1 -0.1 0.0 268,601 267,114 264,118 263,052 (X) (X) 2.1

 Defense capital goods4........................ 188,859 189,032 188,274 -0.1 0.4 0.1 188,855 189,551 189,533 186,526 (X) (X) 1.2

 Consumer goods.................................. 11,264 11,034 10,982 2.1 0.5 1.0 11,235 11,076 10,964 11,577 (X) (X) -3.0

 Consumer durable goods..................... 11,264 11,034 10,982 2.1 0.5 1.0 11,235 11,076 10,964 11,577 (X) (X) -3.0 

 All manufacturing industries....................... 806,287 807,050 807,903 -0.1 -0.1 0.4 808,464 803,969 786,589 775,049 (X) (X) 4.3

 Construction materials and supplies....... 86,833 87,052 87,333 -0.3 -0.3 0.1 88,063 87,537 85,620 84,971 (X) (X) 3.6

 Information technology......................... 45,194 45,116 45,127 0.2 0.0 0.3 45,135 44,678 43,744 42,780 (X) (X) 5.5

 Computers and related products........... 3,707 3,754 3,845 -1.3 -2.4 -2.0 3,662 3,615 3,709 3,686 (X) (X) -0.7

 Motor vehicle and parts......................... 52,061 51,842 51,659 0.4 0.4 -0.3 52,567 51,721 48,686 50,599 (X) (X) 3.9

 Capital goods...................................... 242,241 241,565 241,980 0.3 -0.2 1.3 242,137 239,220 235,623 228,812 (X) (X) 5.8

 Nondefense capital goods3.................. 218,953 218,350 218,964 0.3 -0.3 1.4 219,002 216,196 212,703 206,977 (X) (X) 5.8

 Excluding aircraft............................. 153,947 153,576 153,211 0.2 0.2 0.8 154,196 152,065 149,192 142,093 (X) (X) 8.5

 Defense capital goods4........................ 23,288 23,215 23,016 0.3 0.9 0.1 23,135 23,024 22,920 21,835 (X) (X) 6.0

 Consumer goods.................................. 244,654 246,055 245,651 -0.6 0.2 0.1 244,121 244,356 236,445 233,842 (X) (X) 4.4

 Consumer durable goods..................... 43,249 42,962 43,167 0.7 -0.5 -0.8 43,583 42,646 40,331 41,820 (X) (X) 4.2

 Consumer nondurable goods................ 201,405 203,093 202,484 -0.8 0.3 0.2 200,538 201,710 196,114 192,022 (X) (X) 4.4

NEW ORDERS 

UNFILLED ORDERS 

TOTAL INVENTORIES 

X

 Not Applicable 

p

 Preliminary 

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 noncalendar 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 Topical series are regroupings of the separate industry categories. 

3

 Nondefense capital goods industries include: 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. 

4

 Defense capital goods industries include: small arms and ordnance; communications equipment; aircraft; missiles, space vehicles, and parts; ships and boats; and search and navigation equipment. 

5 Estimates and percent changes exclude semiconductor industry data. 

6

 Based on year-to-date for shipments and new orders, but on same month prior year for unfilled orders and inventories. 

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. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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 6. Value of Manufacturers' Inventories, by Stage of Fabrication, by Industry Group1 

[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 % Change

Industry February

Feb. Jan. Dec. Jan. - Dec. - Nov. - Feb. Jan. Dec. Feb. 2023/

2023p 2023r 2022 Feb. Jan. Dec. 2023p 2023r 2022 2022 2022

MATERIALS AND SUPPLIES

 All manufacturing industries....................... 295,696 296,639 297,263 -0.3 -0.2 0.4 295,441 296,488 293,287 279,327 5.8

 Durable goods industries.......................... 183,226 183,211 182,856 0.0 0.2 0.6 182,826 183,308 180,819 172,174 6.2

 Wood products................................... 6,401 6,443 6,409 -0.7 0.5 0.6 6,588 6,609 6,530 6,473 1.8

 Nonmetallic mineral products................. 7,547 7,495 7,404 0.7 1.2 0.8 7,586 7,482 7,350 6,682 13.5

 Primary metals.................................... 13,954 13,801 13,751 1.1 0.4 0.0 13,894 13,821 13,841 13,691 1.5

 Fabricated metal products.......................... 24,258 24,477 24,758 -0.9 -1.1 -0.5 24,216 24,558 24,626 25,386 -4.6

 Machinery.......................................... 38,621 38,636 38,293 0.0 0.9 1.1 38,273 38,335 37,653 33,752 13.4

 Computers and electronic products........ 25,912 25,853 25,667 0.2 0.7 0.5 25,699 25,744 25,235 23,650 8.7

 Electrical equipment, appliances,

 and components............................... 11,526 11,476 11,514 0.4 -0.3 1.8 11,626 11,536 11,183 10,350 12.3

 Transportation equipment..................... 40,989 41,075 41,281 -0.2 -0.5 1.0 41,028 41,234 40,819 38,962 5.3

 Furniture and related products............... 4,958 4,912 4,892 0.9 0.4 0.3 4,975 4,968 4,752 4,678 6.3

 Miscellaneous products......................... 9,060 9,043 8,887 0.2 1.8 -0.4 8,941 9,021 8,830 8,550 4.6

 Nondurable goods industries...................... 112,470 113,428 114,407 -0.8 -0.9 0.0 112,615 113,180 112,468 107,153 5.1

 Food products.................................... 24,480 24,490 24,386 0.0 0.4 -0.2 24,491 24,671 24,526 23,704 3.3

 Beverage and tobacco products........................ 5,886 5,969 5,996 -1.4 -0.5 0.7 6,062 6,250 6,189 6,410 -5.4

 Textiles.............................................. 1,408 1,410 1,413 -0.1 -0.2 -1.4 1,401 1,404 1,410 1,345 4.2

 Textile products................................... 1,530 1,532 1,537 -0.1 -0.3 -1.0 1,540 1,551 1,534 1,506 2.3

 Apparel............................................. 717 722 716 -0.7 0.8 -1.5 700 711 687 676 3.6

 Leather and allied products.................... 380 384 391 -1.0 -1.8 -0.5 376 386 384 335 12.2

 Paper products.................................... 8,806 8,779 8,775 0.3 0.0 -0.4 8,839 8,844 8,729 8,470 4.4

 Printing ............................................. 3,411 3,417 3,471 -0.2 -1.6 0.7 3,391 3,394 3,435 3,244 4.5

 Petroleum and coal products................. 16,107 16,937 17,675 -4.9 -4.2 2.7 15,810 16,130 15,996 13,092 20.8

 Chemical products................................ 35,747 35,818 36,158 -0.2 -0.9 -0.7 35,939 35,821 35,751 34,917 2.9

 Plastics and rubber products.................. 13,998 13,970 13,889 0.2 0.6 -1.2 14,066 14,018 13,827 13,454 4.5

WORK IN PROCESS

 All manufacturing industries....................... 227,559 227,522 228,774 0.0 -0.5 1.1 227,610 225,255 221,953 220,702 3.1

 Durable goods industries.......................... 173,104 173,079 175,225 0.0 -1.2 1.4 173,211 171,526 169,652 170,084 1.8

 Wood products................................... 1,770 1,795 2,033 -1.4 -11.7 -2.2 1,815 1,841 2,013 2,130 -14.8

 Nonmetallic mineral products................. 1,519 1,517 1,531 0.1 -0.9 0.8 1,565 1,521 1,477 1,527 2.5

 Primary metals.................................... 12,658 12,758 12,937 -0.8 -1.4 2.0 12,597 12,606 12,354 12,666 -0.5

 Fabricated metal products.......................... 15,270 15,320 15,176 -0.3 0.9 0.7 15,310 15,287 14,689 14,381 6.5

 Machinery.......................................... 24,164 24,048 24,613 0.5 -2.3 2.4 24,514 23,605 23,528 22,932 6.9

 Computers and electronic products........ 12,761 12,870 13,072 -0.8 -1.5 -1.4 12,906 13,017 12,736 13,858 -6.9

 Electrical equipment, appliances,

 and components............................... 4,250 4,230 4,369 0.5 -3.2 0.4 4,247 4,167 4,213 4,093 3.8

 Transportation equipment..................... 94,650 94,427 95,284 0.2 -0.9 1.6 94,203 93,409 92,643 92,826 1.5

 Furniture and related products............... 1,357 1,391 1,413 -2.4 -1.6 0.6 1,357 1,404 1,399 1,315 3.2

 Miscellaneous products......................... 4,705 4,723 4,797 -0.4 -1.5 2.9 4,697 4,669 4,600 4,356 7.8

 Nondurable goods industries...................... 54,455 54,443 53,549 0.0 1.7 0.3 54,399 53,729 52,301 50,618 7.5

 Food products.................................... 6,083 5,960 5,867 2.1 1.6 0.1 6,262 6,241 6,289 6,067 3.2

 Beverage and tobacco products........................ 8,985 8,922 8,877 0.7 0.5 0.1 9,160 9,166 9,176 8,938 2.5

 Textiles.............................................. 577 586 611 -1.5 -4.1 -0.3 577 583 592 616 -6.3

 Textile products................................... 444 450 453 -1.3 -0.7 -1.1 449 456 445 461 -2.6

 Apparel............................................. 280 283 291 -1.1 -2.7 0.0 273 275 270 263 3.8

 Leather and allied products.................... 115 113 114 1.8 -0.9 -2.6 115 114 111 120 -4.2

 Paper products.................................... 1,434 1,425 1,418 0.6 0.5 -1.2 1,422 1,415 1,377 1,419 0.2

 Printing ............................................. 1,127 1,145 1,184 -1.6 -3.3 0.5 1,115 1,116 1,121 1,236 -9.8

 Petroleum and coal products................. 14,975 15,396 15,442 -2.7 -0.3 3.6 14,722 14,382 13,942 12,561 17.2

 Chemical products................................ 16,988 16,722 15,820 1.6 5.7 -2.6 16,825 16,551 15,596 15,405 9.2

 Plastics and rubber products.................. 3,447 3,441 3,472 0.2 -0.9 1.4 3,479 3,430 3,382 3,532 -1.5

FINISHED GOODS

 All manufacturing industries....................... 283,032 282,889 281,866 0.1 0.4 -0.2 285,413 282,226 271,349 275,020 3.8

 Durable goods industries.......................... 137,372 136,487 135,452 0.6 0.8 -0.1 139,466 136,266 130,192 132,130 5.6

 Wood products................................... 6,124 6,159 6,082 -0.6 1.3 -0.8 6,356 6,249 5,961 6,295 1.0

 Nonmetallic mineral products................. 7,630 7,671 7,693 -0.5 -0.3 -0.7 7,794 7,707 7,532 7,427 4.9

 Primary metals.................................... 11,892 11,822 11,776 0.6 0.4 -0.4 12,167 12,129 11,870 12,158 0.1

 Fabricated metal products.......................... 22,609 22,456 22,439 0.7 0.1 0.0 22,782 22,353 21,885 21,622 5.4

 Machinery.......................................... 26,217 25,979 25,473 0.9 2.0 1.1 26,676 25,737 24,977 23,219 14.9

 Computers and electronic products........ 14,328 14,346 14,472 -0.1 -0.9 1.2 14,373 14,179 13,929 13,734 4.7

 Electrical equipment, appliances,

 and components............................... 8,076 8,039 8,021 0.5 0.2 -0.3 8,281 8,099 7,612 7,909 4.7

 Transportation equipment..................... 23,185 22,722 22,065 2.0 3.0 -0.9 23,756 22,598 19,436 22,780 4.3

 Furniture and related products............... 3,653 3,671 3,767 -0.5 -2.5 0.2 3,601 3,670 3,658 3,503 2.8

 Miscellaneous products......................... 13,658 13,622 13,664 0.3 -0.3 -1.1 13,680 13,545 13,332 13,483 1.5

 Nondurable goods industries...................... 145,660 146,402 146,414 -0.5 0.0 -0.3 145,947 145,960 141,157 142,890 2.1

 Food products.................................... 34,126 34,246 34,221 -0.4 0.1 1.0 34,298 34,068 33,608 31,951 7.3

 Beverage and tobacco products........................ 13,707 13,595 13,494 0.8 0.7 -0.8 13,708 13,416 12,833 12,924 6.1

 Textiles.............................................. 1,545 1,549 1,586 -0.3 -2.3 -2.5 1,552 1,569 1,576 1,464 6.0

 Textile products................................... 2,177 2,194 2,234 -0.8 -1.8 -1.7 2,200 2,222 2,218 2,276 -3.3

 Apparel............................................. 1,439 1,440 1,461 -0.1 -1.4 1.4 1,364 1,393 1,352 1,057 29.0

 Leather and allied products.................... 703 701 727 0.3 -3.6 -1.8 684 696 704 514 33.1

 Paper products.................................... 6,466 6,428 6,426 0.6 0.0 -0.4 6,498 6,431 6,294 6,437 0.9

 Printing ............................................. 1,939 1,934 1,866 0.3 3.6 0.5 1,929 1,922 1,796 1,771 8.9

 Petroleum and coal products................. 18,150 18,788 18,153 -3.4 3.5 -4.8 17,433 18,632 16,635 19,159 -9.0

 Chemical products................................ 51,222 51,345 51,924 -0.2 -1.1 0.8 51,874 51,413 50,270 51,503 0.7

 Plastics and rubber products.................. 14,186 14,182 14,322 0.0 -1.0 -0.5 14,407 14,198 13,871 13,834 4.1

p

 Preliminary 

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. 

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. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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 7. Ratios of Manufacturers' Inventories to Shipments and Unfilled Orders 

 to Shipments, by Industry Group 1

[Based on Seasonally Adjusted data from the Manufacturers' Shipments, Inventories, and Orders Survey.] 

Inventory/Shipments ratio Unfilled Orders/Shipments ratio2

Industry Feb Jan Dec Nov Feb Jan Dec Nov

2023p 2023r 2022 2022 2023p 2023r 2022 2022

All manufacturing industries3

.................................... 1.49 1.48 1.49 1.47 (X) (X) (X) (X)

Durable goods industries3

........................................ 1.80 1.78 1.78 1.77 6.10 6.09 6.06 6.01

 Wood products........................................................... 1.13 1.13 1.14 1.14 (X) (X) (X) (X)

 Nonmetallic mineral products............................. 1.30 1.30 1.32 1.33 (X) (X) (X) (X)

 Primary metals............................................................ 1.90 1.90 1.93 1.91 1.51 1.51 1.53 1.53

 Fabricated metal products...................................... 1.71 1.72 1.71 1.71 3.29 3.30 3.30 3.30

 Machinery..................................................................... 2.31 2.30 2.31 2.25 3.73 3.74 3.79 3.78

 Computers and electronic products3

................... 1.79 1.79 1.80 1.79 6.24 6.30 6.29 6.25

 Electrical equipment, appliances,

 and components.................................................... 1.70 1.67 1.74 1.73 3.17 3.10 3.21 3.18

 Transportation equipment..................................... 1.76 1.73 1.69 1.70 12.13 12.03 11.64 11.60

 Furniture and related products............................ 1.60 1.58 1.60 1.61 1.81 1.76 1.77 1.78

 Miscellaneous products.......................................... 1.95 1.94 1.92 1.94 (X) (X) (X) (X)

Nondurable goods industries................................... 1.17 1.17 1.18 1.16 (X) (X) (X) (X)

 Food products............................................................. 0.84 0.85 0.85 0.85 (X) (X) (X) (X)

 Beverage and tobacco products........................... 1.67 1.66 1.63 1.68 (X) (X) (X) (X)

 Textiles.......................................................................... 1.59 1.59 1.62 1.65 (X) (X) (X) (X)

 Textile products......................................................... 2.12 2.14 2.16 2.22 (X) (X) (X) (X)

 Apparel........................................................................ 3.18 3.14 3.11 3.14 (X) (X) (X) (X)

 Leather and allied products................................ 2.45 2.36 2.44 2.54 (X) (X) (X) (X)

 Paper products.......................................................... 1.01 1.00 1.02 1.03 (X) (X) (X) (X)

 Printing........................................................................ 0.91 0.92 0.93 0.93 (X) (X) (X) (X)

 Petroleum and coal products............................... 0.89 0.89 0.92 0.83 (X) (X) (X) (X)

 Chemical products................................................... 1.54 1.55 1.57 1.58 (X) (X) (X) (X)

 Plastics and rubber products................................ 1.43 1.42 1.43 1.44 (X) (X) (X) (X)

Feb3 Feb3 Feb3 Feb3

Industry 2022- 2022- 2022- 2022-

Feb2 Jan Feb2 Jan Feb2 Jan Feb2 Jan

2023 2023 2023 2023 2023 2023 2023 2023

All manufacturing industries.................. (X) 0.2 (X) 0.3 (X) 0.1 (X) 0.1

Durable goods industries....................... 0.0 0.2 0.0 0.4 0.0 0.1 0.0 0.1

 Wood products............................................ (X) 0.2 (X) (NA) (X) (NA) (X) 0.2

 Nonmetallic mineral products.............. (X) 0.4 (X) (NA) (X) (NA) (X) 0.2

 Primary metals............................................. -0.2 0.4 -0.2 0.5 0.0 0.2 -0.1 0.1

 Fabricated metal products.................... -0.1 0.2 -0.2 0.4 -0.1 0.1 0.0 0.1

 Machinery...................................................... 0.1 0.3 -0.1 0.4 -0.1 0.1 0.1 0.1

 Computers and electronic products..... 0.2 0.2 0.2 0.5 0.0 0.1 -0.1 0.1

 Electrical equipment, appliances,

 and components..................................... -0.6 0.4 -0.3 0.7 0.1 0.2 0.2 0.2

 Transportation equipment.................... 0.0 0.4 0.0 0.9 0.0 0.1 0.0 0.1

 Furniture and related products............. (X) 0.3 (X) 0.6 (X) 0.4 (X) 0.4

 Miscellaneous products.......................... (X) 0.3 (X) 0.4 (X) 0.2 (X) 0.1

Nondurable goods industries................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.1

 Food products.............................................. (X) 0.1 (X) (NA) (X) (NA) (X) 0.1

 Beverage and tobacco products............ (X) 0.4 (X) (NA) (X) (NA) (X) 0.2

 Textiles.......................................................... (X) 0.5 (X) (NA) (X) (NA) (X) 0.4

 Textile products......................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.2

 Apparel......................................................... (X) 0.7 (X) (NA) (X) (NA) (X) 0.7

 Leather and allied products.................. (X) 1.1 (X) (NA) (X) (NA) (X) 0.7

 Paper products............................................ (X) 0.1 (X) (NA) (X) (NA) (X) 0.1

 Printing.......................................................... (X) 0.8 (X) (NA) (X) (NA) (X) 0.4

 Petroleum and coal products............... (X) 1.5 (X) (NA) (X) (NA) (X) 0.6

 Chemical products................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.2

 Plastics and rubber products................ (X) 0.1 (X) (NA) (X) (NA) (X) 0.2

X Not Applicable 

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

2

 Excludes the following industries with no unfilled orders: Wood products; nonmetallic mineral products; medical equipment and supplies; office 

supplies; other miscellaneous manufacturing; cutlery and handtools; farm and garden machinery; computer storage and peripheral devices; audio and 

video equipment; manufacturing and reproducing magnetic and optical media; batteries; automobiles; light trucks and utility vehicles; heavy duty trucks; 

and miscellaneous furniture. 

3

 Unfilled orders to shipments ratio excludes semiconductor manufacturing. 

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. For further details on survey design, methodology, and data limitations see 

<http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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>. 

X Not Applicable 

NA Not Available 

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

 The current month revisions are the difference between the advance percent change and the percent change as shown in this publication. 

3

 The twelve month revisions are the differences between the month-to-month percent changes of the preliminary and final estimates. 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. 

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. For further details on survey design, methodology, and data limitations see 

<http://www.census.gov/manufacturing/m3/>.

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Full Report, April 4, 2023. 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 8. Revisions to Previously Published Monthly Percent Changes 1

[Based on Seasonally Adjusted data from the Manufacturers' Shipments, Inventories, and Orders Survey.] 

Shipments New Orders Unfilled Orders Inventories