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FOR RELEASE AT 8:30 AM EST, THURSDAY, JANUARY 25, 2024 

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS, 

INVENTORIES AND ORDERS DECEMBER 2023 

Release Number: CB 24-13 M3-1 (23)-12 

January 25, 2024 — The U.S. Census Bureau announces the December advance report on durable goods 

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in December, up three of the last four months, increased $0.1

billion or virtually unchanged to $295.6 billion, the U.S. Census Bureau announced today. This followed a

5.5 percent November increase. Excluding transportation, new orders increased 0.6 percent. Excluding 

defense, new orders increased 0.5 percent. Primary metals, also up three of the last four months, drove

the increase, $0.4 billion or 1.4 percent to $27.1 billion.

Shipments

Shipments of manufactured durable goods in December, down three of the last four months, decreased 

$0.9 billion or 0.3 percent to $282.2 billion. This followed a 1.0 percent November increase. 

Transportation equipment, also down three of the last four months, led the decrease, $0.7 billion or 0.8

percent to $89.5 billion.

DURABLE GOODS – NEW ORDERS

DECEMBER 2023 $295.6 billion 0.0%°

 NOVEMBER 2023

(revised) $295.5 billion +5.5%°

Next release: February 27, 2024 

Data adjusted for seasonal variation but not for price changes.

°Statistical significance is not measurable for this survey. The Manufacturers' Shipments, 

Inventories, and Orders estimates are not based on a probability sample, so the sampling 

error of these estimates cannot be measured nor can the confidence intervals be computed.

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories and Orders, January 25, 

2024.

-1.3%

-2.7%

3.3%

1.2%

2.0%

4.3%

-5.6%

-0.1%

4.0%

-5.1%

5.5%

0.0%

-7.0%

-6.0%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

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

DURABLE GOODS NEW ORDERS 2023

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, January 25, 2024.
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Unfilled Orders

Unfilled orders for manufactured durable goods in December, up twelve of the last thirteen months, 

increased $18.3 billion or 1.3 percent to $1,393.4 billion. This followed a 1.3 percent November increase. 

Transportation equipment, also up twelve of the last thirteen months, led the increase, $17.3 billion or 2.0

percent to $895.7 billion.

Inventories

Inventories of manufactured durable goods in December, up five consecutive months, increased $2.1

billion or 0.4 percent to $527.0 billion. This followed a 0.1 percent November increase. Transportation 

equipment, also up five consecutive months, led the increase, $1.3 billion or 0.8 percent to $167.7 billion. 

Capital Goods

Nondefense new orders for capital goods in December increased $0.6 billion or 0.6 percent to $103.0

billion. Shipments decreased $0.6 billion or 0.7 percent to $82.5 billion. Unfilled orders increased $20.5

billion or 2.5 percent to $842.0 billion. Inventories increased $1.6 billion or 0.7 percent to $229.4 billion. 

Defense new orders for capital goods in December decreased $1.9 billion or 14.5 percent to $11.1 billion. 

Shipments decreased $0.4 billion or 2.7 percent to $13.8 billion. Unfilled orders decreased $2.7 billion or 

1.3 percent to $208.1 billion. Inventories increased $0.1 billion or 0.3 percent to $24.6 billion.

Revised November Data

Revised seasonally adjusted November figures for all manufacturing industries were: new orders, $593.2

billion (revised from $592.9 billion); shipments, $580.8 billion (revised from $580.7 billion); unfilled orders, 

$1,375.1 billion (revised from $1,374.8 billion) and total inventories, $856.7 billion (revised from $857.1

billion).

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

at 10:00 a.m. EST. The Advance Report on durable goods for January is scheduled for release on February

27, 2024, at 8:30 a.m. EST. View the full schedule in the Economic Briefing Room:

<www.census.gov/economic-indicators/>. The full text and tables of this release can be found at

<www.census.gov/m3>.
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EXPLANATORY NOTES

Figures in text are adjusted for seasonality, but not for inflation. Figures on new and unfilled orders 

exclude data for semiconductor manufacturing. 

“Virtually unchanged” indicates that the change is less than 0.05 percent for a percent increase or 

decrease.

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

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

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

Description of the survey

This report is compiled from results of the U.S. Census Bureau’s Manufacturers’ Shipments, Inventories, 

and Orders (M3) survey, which is a voluntary survey authorized by Title 13 of the United States Code. This 

survey provides statistics on a calendar-month basis for manufacturers' value of shipments, new orders 

(net of cancellations), end-of-month order backlog (unfilled orders), end-of-month total inventory (at 

current cost or market value), and inventories by stage of fabrication (materials and supplies, work-inprocess, and finished goods). Data published from the M3 survey are based on a panel of approximately 

5,000 reporting units that represent approximately 3,100 companies and provide an indication of monthto-month change for the Manufacturing Sector. These reporting units may be divisions of diversified large 

companies, large homogenous companies, or single-unit manufacturers in 92 industry categories, which 

are combined into 65 publication levels due to the small monthly panel size. The survey methodology 

assumes that the month-to-month changes of the total operations of the reporting units in the M3 panel 

effectively represent the month-to-month movements of all establishments that make up the category. 

The companies for which shipments data are currently reported or imputed in the M3 survey represent 

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

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

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

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

shipments for manufacturing establishments in the 2017 Economic Census. Statistics based on the M3 

panel differ from the results that would be obtained from a complete enumeration of all manufacturing 

companies. The M3 panel is not based on a probability sample; therefore, the sampling errors that are 

normally provided with sample surveys cannot be measured. Nonsampling errors are attributable to many 

sources. The use of company or divisional reports to estimate the monthly change for establishments is 
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one source of nonsampling error. The use of primarily large companies to represent the month-to-month 

movement of all companies is another potential source. Any corrections will be published in the full 

report. Corrections received after the full report will be released in the next month’s advance report. Any 

revisions made later than two months will be reflected in the annual benchmark publication. Additional 

survey documentation can be found on our web site: 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.

Notice of Revisions and Changes Due to Updated Seasonal Adjustment Models

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

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

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

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

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

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

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

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

RESOURCES

API

The Census Bureau’s application programming interface (API) lets developers create custom apps to reach 

new users and makes key demographic, socio-economic and housing statistics more accessible than ever 

before.

<www.census.gov/developers/> 

FRED Mobile App

Receive the latest updates on the nation’s key economic indicators by downloading 

the FRED App <https://fred.stlouisfed.org/fred-mobile/> for both Apple and 

Android devices. FRED, the signature database of the Federal Reserve Bank of St. 

Louis, now incorporates the Census Bureau’s 13 economic indicators.

###
Table 1. Durable Goods Manufacturers' Shipments and New Orders 1

[Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.]

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly Year to Date

Item Percent

Dec Nov Oct Nov - Oct - Sep - Dec Nov Dec Change

2023 2 2023 r 2023 Dec 2 Nov r Oct 2023 2 2023 r 2022 2023 2022 2023/2022

DURABLE GOODS

 Total:

 Shipments................................ 282,191 283,097 280,310 -0.3 1.0 -0.8 276,183 275,713 278,069 3,373,276 3,271,444 3.1

 New Orders4.............................. 295,559 295,500 280,217 0.0 5.5 -5.1 300,747 286,578 290,149 3,435,938 3,289,953 4.4

 Excluding transportation:

 Shipments................................ 192,686 192,843 192,055 -0.1 0.4 -0.2 185,851 185,596 185,869 2,296,112 2,267,908 1.2

 New Orders4.............................. 188,729 187,652 186,720 0.6 0.5 -0.3 181,632 177,729 179,585 2,233,132 2,215,735 0.8

 Excluding defense:

 Shipments................................ 266,156 266,654 263,946 -0.2 1.0 -1.1 258,705 258,026 260,936 3,184,558 3,096,951 2.8

 New Orders4.............................. 281,888 280,526 262,525 0.5 6.9 -6.4 281,727 270,441 267,115 3,240,304 3,108,475 4.2

 Manufacturing with unfilled orders:

 Shipments................................ 196,955 197,710 196,479 -0.4 0.6 -0.1 194,481 191,568 193,532 2,342,251 2,260,601 3.6

 New Orders.............................. 215,250 215,058 201,349 0.1 6.8 -6.1 223,656 208,019 210,651 2,465,467 2,341,543 5.3

 Primary metals:

 Shipments................................ 26,756 26,712 26,370 0.2 1.3 -0.3 23,774 24,931 24,026 319,675 323,846 -1.3

 New Orders.............................. 27,078 26,714 26,463 1.4 0.9 -0.6 24,810 25,205 24,642 320,260 323,597 -1.0

 Fabricated metal products:

 Shipments................................ 36,471 36,341 36,026 0.4 0.9 -0.3 33,411 34,978 32,703 428,365 426,790 0.4

 New Orders.............................. 36,691 36,377 36,386 0.9 0.0 0.1 32,554 33,897 31,518 428,657 426,749 0.4

 Machinery:

 Shipments................................ 37,605 37,899 38,105 -0.8 -0.5 0.0 37,085 35,229 37,558 452,354 440,059 2.8

 New Orders.............................. 37,506 37,422 37,430 0.2 0.0 -0.9 36,267 34,374 36,653 448,374 446,755 0.4

 Computers and electronic products4:

 Shipments................................ 29,707 29,792 29,632 -0.3 0.5 0.1 32,881 30,441 32,473 352,729 346,248 1.9

 New Orders.............................. 24,965 24,869 24,759 0.4 0.4 0.1 29,654 24,388 28,564 292,981 285,547 2.6

 Computers and related products:

 Shipments................................ 2,059 2,098 2,053 -1.9 2.2 0.3 2,434 2,028 2,285 24,228 20,966 15.6

 New Orders.............................. 2,062 2,092 2,045 -1.4 2.3 0.0 2,437 2,022 2,281 24,217 20,922 15.7

 

 Communications equipment:

 Shipments................................ 3,014 3,032 3,031 -0.6 0.0 -0.7 3,987 2,842 4,182 36,456 37,148 -1.9

 New Orders.............................. 3,393 3,225 3,084 5.2 4.6 -2.5 4,753 3,118 4,413 36,789 37,096 -0.8

 Electrical equipment, appliances, 

 and components: 

 Shipments................................ 14,196 14,146 14,167 0.4 -0.1 -0.8 13,732 13,623 13,378 168,859 157,148 7.5

 New Orders.............................. 14,425 14,173 13,909 1.8 1.9 -2.3 13,697 13,243 12,980 169,559 160,086 5.9

 Transportation equipment: 

 Shipments................................ 89,505 90,254 88,255 -0.8 2.3 -2.3 90,332 90,117 92,200 1,077,164 1,003,536 7.3

 New Orders.............................. 106,830 107,848 93,497 -0.9 15.3 -13.4 119,115 108,849 110,564 1,202,806 1,074,218 12.0

 Motor vehicles and parts:

 Shipments................................ 61,253 61,132 59,134 0.2 3.4 -4.0 57,188 60,431 59,227 738,270 708,630 4.2

 New Orders.............................. 61,150 60,918 59,148 0.4 3.0 -4.2 57,948 60,791 60,025 738,569 707,666 4.4

 

 Nondefense aircraft and parts:

 Shipments................................ 13,199 13,906 13,409 -5.1 3.7 -0.8 17,017 13,763 15,779 154,127 118,350 30.2

 New Orders.............................. 33,211 33,066 17,960 0.4 84.1 -43.9 44,140 33,124 28,104 274,521 182,503 50.4

 Defense aircraft and parts:

 Shipments................................ 4,850 4,899 4,922 -1.0 -0.5 8.3 5,089 5,259 5,194 57,250 54,686 4.7

 New Orders.............................. 4,172 4,296 4,968 -2.9 -13.5 1.2 5,888 5,106 6,834 62,678 56,180 11.6

 All other durable goods: 

 Shipments................................ 47,951 47,953 47,755 0.0 0.4 0.0 44,968 46,394 45,731 574,130 573,817 0.1

 New Orders.............................. 48,064 48,097 47,773 -0.1 0.7 0.3 44,650 46,622 45,228 573,301 573,001 0.1

 Capital goods3:

 Shipments................................ 96,293 97,282 96,867 -1.0 0.4 0.2 104,621 94,841 103,756 1,147,795 1,082,026 6.1

 New Orders.............................. 114,144 115,432 102,133 -1.1 13.0 -10.1 130,937 112,040 119,268 1,267,158 1,156,883 9.5

 Nondefense capital goods:

 Shipments................................ 82,497 83,106 82,881 -0.7 0.3 -0.2 89,311 79,541 88,851 985,956 932,445 5.7

 New Orders.............................. 103,044 102,454 86,621 0.6 18.3 -14.2 115,440 98,300 99,389 1,101,913 1,005,384 9.6

 Excluding aircraft:

 Shipments........................... 74,160 74,118 74,282 0.1 -0.2 0.0 77,081 70,685 77,167 886,662 860,039 3.1

 New Orders.......................... 74,332 74,105 73,396 0.3 1.0 -0.6 76,428 69,997 75,544 882,724 868,041 1.7

 Defense capital goods:

 Shipments................................ 13,796 14,176 13,986 -2.7 1.4 2.6 15,310 15,300 14,905 161,839 149,581 8.2

 New Orders.............................. 11,100 12,978 15,512 -14.5 -16.3 23.5 15,497 13,740 19,879 165,245 151,499 9.1

r Revised data due to late receipts and concurrent seasonal adjustment. 

1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of 

shipments and new orders include adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, 

as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 

2 Based on advance sample. Estimates of manufacturers' shipments, inventories, and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response and 

nonreporting. Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations, see http://www.census.gov/manufacturing/m3. 

3 The Capital Goods Industries include Nondefense : small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry, and other machinery; 

photographic equipment; metalworking machinery; turbines and generators; other power transmission equipment; pumps and compressors; material handling equipment; all other machinery; electronic computers; computer storage devices; 

other computer peripheral equipment; communications equipment; search and navigation equipment; electromedical, measuring, and control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy 

duty trucks; aircraft; railroad rolling stock; ships and boats; office and institutional furniture; and medical equipment and supplies. Defense Capital Goods include : small arms and ordnance, communications equipment, aircraft; missiles, space 

vehicles, and parts, ships and boats, and search and navigation equipment. 

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

orders exclude semiconductor industry data. 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Advance Report, January 25, 2024. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 2. Durable Goods Manufacturers' Unfilled Orders and Total Inventories 1

[Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.]

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly Percent

Item Change

Dec Nov Oct Nov - Oct - Sep - Dec Nov Dec 2023/

2023 2 2023 r 2023 Dec 2 Nov r Oct 2023 2 2023 r 2022 2022

DURABLE GOODS

 Total:

 Unfilled Orders4......................... 1,393,373 1,375,078 1,357,730 1.3 1.3 0.4 1,393,512 1,364,337 1,270,296 9.7

 Total Inventories....................... 527,047 524,969 524,397 0.4 0.1 0.2 514,724 523,517 507,960 1.3

 Excluding transportation:

 Unfilled Orders4......................... 497,658 496,688 496,934 0.2 0.0 -0.1 489,958 489,566 492,384 -0.5

 Total Inventories....................... 359,384 358,639 358,565 0.2 0.0 0.0 352,394 357,011 350,879 0.4

 Excluding defense:

 Unfilled Orders4........................... 1,152,838 1,132,179 1,113,362 1.8 1.7 0.3 1,151,868 1,124,235 1,035,568 11.2

 Total Inventories....................... 497,181 495,218 494,964 0.4 0.1 0.2 485,121 493,729 479,900 1.1

 Manufacturing with unfilled orders:

 Unfilled Orders......................... 1,393,373 1,375,078 1,357,730 1.3 1.3 0.4 1,393,512 1,364,337 1,270,296 9.7

 Total Inventories....................... 426,542 424,975 424,206 0.4 0.2 0.2 417,506 423,425 411,281 1.5

 Primary metals:

 Unfilled Orders......................... 38,769 38,447 38,445 0.8 0.0 0.2 38,351 37,315 37,766 1.5

 Total Inventories....................... 45,582 45,751 46,048 -0.4 -0.6 -0.5 45,138 45,173 46,468 -2.9

 Fabricated metal products:

 Unfilled Orders......................... 130,063 129,843 129,807 0.2 0.0 0.3 126,716 127,573 126,424 0.2

 Total Inventories....................... 64,805 64,779 64,695 0.0 0.1 0.0 63,695 63,934 63,821 -0.2

 Machinery: 

 Unfilled Orders......................... 136,909 137,008 137,485 -0.1 -0.3 -0.5 134,377 135,195 138,357 -2.9

 Total Inventories....................... 95,547 94,971 94,877 0.6 0.1 -0.1 93,270 95,180 90,742 2.8

 Computers and electronic products4:

 Unfilled Orders......................... 135,146 134,961 134,939 0.1 0.0 0.1 135,196 133,812 134,390 0.6

 Total Inventories....................... 55,640 55,441 55,295 0.4 0.3 0.3 54,460 55,803 54,320 0.3

 Computers and related products:

 Unfilled Orders......................... 1,272 1,269 1,275 0.2 -0.5 -0.6 1,272 1,269 1,283 -0.9

 Total Inventories....................... 3,572 3,479 3,449 2.7 0.9 -2.0 3,458 3,534 3,601 -4.0

 

 Communications equipment:

 Unfilled Orders......................... 17,935 17,556 17,363 2.2 1.1 0.3 18,126 17,360 17,793 1.9

 Total Inventories....................... 4,989 5,016 5,034 -0.5 -0.4 0.0 4,766 5,128 4,813 -1.0

 Electrical equipment, appliances, 

 and components: 

 Unfilled Orders......................... 43,959 43,730 43,703 0.5 0.1 -0.6 43,115 43,150 42,415 1.7

 Total Inventories....................... 26,583 26,485 26,396 0.4 0.3 0.2 25,631 26,006 25,029 2.4

 Transportation equipment: 

 Unfilled Orders......................... 895,715 878,390 860,796 2.0 2.0 0.6 903,554 874,771 777,912 16.2

 Total Inventories....................... 167,663 166,330 165,832 0.8 0.3 0.6 162,330 166,506 157,081 3.3

 Motor vehicles and parts:

 Unfilled Orders......................... 35,035 35,138 35,352 -0.3 -0.6 0.0 35,240 34,480 34,941 0.9

 Total Inventories....................... 54,367 54,265 54,592 0.2 -0.6 0.9 51,445 54,131 50,400 2.1

 

 Nondefense Aircraft and parts:

 Unfilled Orders......................... 644,664 624,652 605,492 3.2 3.2 0.8 651,109 623,986 530,715 22.7

 Total Inventories....................... 79,881 78,947 78,327 1.2 0.8 0.7 78,009 79,166 75,538 3.3

 Defense Aircraft and parts: 

 Unfilled Orders......................... 72,146 72,824 73,427 -0.9 -0.8 0.1 72,730 71,931 67,302 8.1

 Total Inventories....................... 13,982 13,925 14,068 0.4 -1.0 -0.3 13,878 13,957 13,685 1.4

 All other durable goods: 

 Unfilled Orders......................... 12,812 12,699 12,555 0.9 1.1 0.1 12,203 12,521 13,032 -6.4

 Total Inventories....................... 71,227 71,212 71,254 0.0 -0.1 -0.1 70,200 70,915 70,499 -0.4

 Capital goods3:

 Unfilled Orders......................... 1,050,141 1,032,290 1,014,140 1.7 1.8 0.5 1,053,249 1,026,933 933,886 12.8

 Total Inventories....................... 254,057 252,353 251,182 0.7 0.5 0.1 248,121 253,306 241,061 2.9

 Nondefense capital goods:

 Unfilled Orders......................... 841,999 821,452 802,104 2.5 2.4 0.5 844,601 818,472 728,644 15.9

 Total Inventories....................... 229,438 227,818 226,966 0.7 0.4 0.2 223,661 228,766 217,983 2.6

 Excluding aircraft: 

 Unfilled Orders.................... 270,278 270,106 270,119 0.1 0.0 -0.3 266,742 267,395 270,680 -1.5

 Total Inventories................... 163,721 162,819 162,666 0.6 0.1 -0.1 159,856 163,306 156,005 2.5

 Defense capital goods:

 Unfilled Orders......................... 208,142 210,838 212,036 -1.3 -0.6 0.7 208,648 208,461 205,242 1.7

 Total Inventories....................... 24,619 24,535 24,216 0.3 1.3 0.0 24,460 24,540 23,078 6.0

r Revised data due to late receipts and concurrent seasonal adjustment. 

1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments 

and new orders include adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal 

variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 

2

 Based on advance sample. Estimates of manufacturers' shipments, inventories, and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes 

errors of coverage, response and nonreporting. Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data 

limitations, see http://www.census.gov/manufacturing/m3. 

3

 The Capital Goods Industries include Nondefense : small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, 

laundry, and other machinery; photographic equipment; metalworking machinery; turbines and generators; other power transmission equipment; pumps and compressors; material handling equipment; all 

other machinery; electronic computers; computer storage devices; other computer peripheral equipment; communications equipment; search and navigation equipment; electromedical, measuring, and 

control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and boats; office and institutional furniture; and 

medical equipment and supplies. Defense Capital Goods include : small arms and ordnance, communications equipment, aircraft; missiles, space vehicles, and parts, ships and boats, and search and navigation 

equipment. 

4

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

percent changes for new orders and unfilled orders exclude semiconductor industry data. 

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

approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Advance Report, January 25, 2024. Information on data sources and methodology can be found on our 

website at <www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.