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FOR RELEASE AT 8:30 AM EDT, THURSDAY, MARCH 24, 2022

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS, 

INVENTORIES AND ORDERS FEBRUARY 2022

Release Number: CB 22-54 M3-1 (22)-02

March 24, 2022 — The U.S. Census Bureau announces the February advance report on durable goods 

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in February decreased $6.0 billion or 2.2 percent to $271.5

billion, the U.S. Census Bureau announced today. This decrease, down following four consecutive monthly 

increases, followed a 1.6 percent January increase. Excluding transportation, new orders decreased 0.6

percent. Excluding defense, new orders decreased 2.7 percent. Transportation equipment, down 

following three consecutive monthly increases, led the decrease, $4.9 billion or 5.6 percent to $82.6

billion.

Shipments

Shipments of manufactured durable goods in February, down following five consecutive monthly 

increases, decreased $0.1 billion or virtually unchanged to $270.6 billion. This followed a 1.3 percent 

DURABLE GOODS – NEW ORDERS

FEBRUARY 2022 $271.5 billion -2.2%°

JANUARY 2022

(revised) $277.6 billion +1.6%°

Next release: April 26, 2022

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, March 24, 

2022.

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22

DURABLE GOODS NEW ORDERS 2021-2022

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, March 24, 2022.
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January increase. Machinery, down following three consecutive monthly increases, drove the decrease, 

$0.5 billion or 1.4 percent to $38.5 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in February, up thirteen consecutive months, increased

$5.3 billion or 0.4 percent to $1,288.4 billion. This followed a 0.9 percent January increase. Transportation 

equipment, up twelve of the last thirteen months, led the increase, $4.9 billion or 0.6 percent to $853.4

billion.

Inventories

Inventories of manufactured durable goods in February, up thirteen consecutive months, increased $2.0

billion or 0.4 percent to $478.5 billion. This followed a 0.5 percent January increase. Machinery, up 

sixteen consecutive months, led the increase, $0.8 billion or 1.0 percent to $80.5 billion. 

Capital Goods

Nondefense new orders for capital goods in February decreased $6.5 billion or 6.7 percent to $89.9 billion. 

Shipments increased $0.2 billion or 0.2 percent to $84.4 billion. Unfilled orders increased $5.5 billion or 

0.7 percent to $798.6 billion. Inventories increased $1.4 billion or 0.7 percent to $209.9 billion. Defense 

new orders for capital goods in February increased $1.5 billion or 14.2 percent to $12.2 billion. Shipments

decreased $0.1 billion or 0.8 percent to $12.9 billion. Unfilled orders decreased $0.7 billion or 0.4 percent 

to $184.9 billion. Inventories decreased $0.1 billion or 0.6 percent to $21.3 billion.

Revised January Data

Revised seasonally adjusted January figures for all manufacturing industries were: new orders, $544.7

billion (revised from $544.2 billion); shipments, $537.8 billion (revised from $536.9 billion); unfilled orders, 

$1,283.1 billion (revised from $1,283.5 billion) and total inventories, $779.8 billion (revised from $779.6

billion).

Revised and more detailed estimates, plus nondurable goods data, will be published on April 4, 2022, at

10:00 a.m. EDT. The Advance Report on durable goods for March is scheduled for release on April 26,

2022, at 8:30 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. Any 
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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>.

Special Notice - New Advance Estimates Of Total Manufacturing

Beginning with September 2021 data on October 27, 2021, advance estimates of total manufacturing, 

including M3 durable and nondurable industries, for shipments and inventories, are available at the same 

time as the Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders. 

Monthly advance total manufacturing estimates are available on a seasonally adjusted basis as well as a 

not seasonally adjusted basis on the M3 website under the “Advance Report Highlights”. 

Benchmark notice

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

issued on May 13, 2022. These revisions result from

• Benchmarking the M3 shipments and inventories data to the 2020 and 2019 Annual Survey of 

Manufactures (ASM) data; 

• Incorporating the unfilled orders-to-shipments ratios obtained for 2020, 2019, and 2018 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 2022 and the data 

not seasonally adjusted for January 2017 through March 2022. An updated Press Release will contain

revised monthly tables for January 2022 through March 2022.
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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

Feb Jan Dec Jan ‐ Dec‐ Nov ‐ Feb Jan Feb Change

2022 2 2022 r 2021 Feb 2 Jan r Dec 2022 2 2022 r 2021 2022 2021 2022/2021

DURABLE GOODS

   Total:               

               Shipments................................ 270,646 270,700 267,347 0.0 1.3 1.3 255,257 242,823 226,827 498,080 448,337 11.1

               New Orders4

.............................. 271,512 277,561 273,281 ‐2.2 1.6 1.2 265,001 260,136 236,976 525,137 459,849 14.2

         Excluding transportation:

               Shipments................................ 192,924 192,541 189,512 0.2 1.6 1.3 179,258 173,559 158,144 352,817 313,129 12.7

               New Orders4

.............................. 188,940 190,095 188,523 ‐0.6 0.8 1.0 179,214 175,928 162,124 355,142 320,063 11.0

         Excluding defense:

               Shipments................................ 255,826 255,862 253,117 0.0 1.1 1.5 241,029 230,516 213,995 471,545 424,115 11.2

               New Orders4

.............................. 257,599 264,797 261,249 ‐2.7 1.4 2.7 251,293 250,195 223,254 501,488 433,290 15.7

    Manufacturing with unfilled orders:

               Shipments................................ 190,902 190,872 187,020 0.0 2.1 0.7 180,203 172,162 156,697 352,365 308,589 14.2

               New Orders.............................. 196,194 202,112 197,337 ‐2.9 2.4 0.6 194,096 194,228 170,868 388,324 328,803 18.1

    Primary metals:

               Shipments................................ 24,800 24,711 24,849 0.4 ‐0.6 1.0 24,110 24,048 19,814 48,158 39,880 20.8

               New Orders.............................. 24,929 25,158 25,225 ‐0.9 ‐0.3 3.3 24,841 25,340 21,151 50,181 42,161 19.0

    Fabricated metal products:

               Shipments................................ 37,294 37,335 36,883 ‐0.1 1.2 1.2 34,996 34,574 30,079 69,570 59,737 16.5

               New Orders.............................. 37,435 37,465 37,482 ‐0.1 0.0 1.3 36,062 35,891 32,753 71,953 65,057 10.6

    Machinery:

               Shipments................................ 38,459 39,001 37,863 ‐1.4 3.0 2.0 36,515 34,262 31,896 70,777 61,807 14.5

               New Orders.............................. 38,869 39,891 38,717 ‐2.6 3.0 1.3 38,369 37,403 34,223 75,772 66,619 13.7

    Computers and electronic products 4

:

               Shipments................................ 30,309 29,972 29,425 1.1 1.9 1.2 27,269 26,989 25,522 54,258 51,299 5.8

               New Orders.............................. 25,573 25,846 25,788 ‐1.1 0.2 ‐2.7 23,004 22,805 21,908 45,809 43,338 5.7

         Computers and related products:

               Shipments................................ 2,049 1,973 1,929 3.9 2.3 1.8 1,617 1,722 1,545 3,339 3,266 2.2

               New Orders.............................. 2,045 1,959 1,884 4.4 4.0 1.2 1,613 1,708 1,547 3,321 3,257 2.0

         Communications equipment:

               Shipments................................ 3,817 3,788 3,512 0.8 7.9 ‐0.2 3,174 3,047 2,782 6,221 5,465 13.8

               New Orders.............................. 3,673 3,881 4,199 ‐5.4 ‐7.6 ‐6.5 3,163 3,224 2,875 6,387 5,664 12.8

    Electrical equipment, appliances,    

       and components:                   

               Shipments................................ 13,603 13,400 13,062 1.5 2.6 0.9 12,395 11,522 10,877 23,917 21,212 12.8

               New Orders.............................. 13,628 13,599 13,480 0.2 0.9 0.3 12,902 12,134 11,853 25,036 23,044 8.6

    Transportation equipment:    

               Shipments................................ 77,722 78,159 77,835 ‐0.6 0.4 1.6 75,999 69,264 68,683 145,263 135,208 7.4

               New Orders.............................. 82,572 87,466 84,758 ‐5.6 3.2 1.7 85,787 84,208 74,852 169,995 139,786 21.6

         Motor vehicles and parts:

               Shipments................................ 54,211 54,657 55,192 ‐0.8 ‐1.0 2.0 54,201 49,643 50,589 103,844 100,200 3.6

               New Orders.............................. 54,451 54,747 55,110 ‐0.5 ‐0.7 1.8 55,046 50,134 51,568 105,180 102,019 3.1

         Nondefense aircraft and parts 5

:

               Shipments................................ 8,447 8,456 8,114 ‐0.1 4.2 1.7 7,184 7,032 5,313 14,216 10,944 29.9

               New Orders.............................. 13,481 19,360 17,458 ‐30.4 10.9 23.9 16,213 23,376 9,612 39,589 11,490 244.6

         Defense aircraft and parts:

               Shipments................................ 4,729 4,499 4,328 5.1 4.0 ‐7.7 4,325 3,518 4,081 7,843 7,921 ‐1.0

               New Orders.............................. 4,666 2,914 4,140 60.1 ‐29.6 ‐21.9 4,076 1,850 4,059 5,926 9,334 ‐36.5

    All other durable goods:           

               Shipments................................ 48,459 48,122 47,430 0.7 1.5 0.9 43,973 42,164 39,956 86,137 79,194 8.8

               New Orders.............................. 48,506 48,136 47,831 0.8 0.6 1.6 44,036 42,355 40,236 86,391 79,844 8.2

    Capital goods3

:

               Shipments................................ 97,286 97,216 94,697 0.1 2.7 1.1 90,204 84,688 79,641 174,892 155,771 12.3

               New Orders.............................. 102,124 107,091 102,090 ‐4.6 4.9 ‐1.0 101,409 102,948 88,194 204,357 165,866 23.2

           Nondefense capital goods:

               Shipments................................ 84,429 84,249 82,345 0.2 2.3 1.6 77,774 73,902 68,515 151,676 134,868 12.5

               New Orders.............................. 89,933 96,418 93,085 ‐6.7 3.6 4.0 89,419 94,195 76,208 183,614 142,169 29.2

                Excluding aircraft:

                    Shipments........................... 79,666 79,292 77,632 0.5 2.1 1.7 74,169 70,291 65,860 144,460 129,142 11.9

                    New Orders.......................... 80,093 80,345 79,314 ‐0.3 1.3 0.4 76,707 74,272 69,288 150,979 136,312 10.8

           Defense capital goods:

               Shipments................................ 12,857 12,967 12,352 ‐0.8 5.0 ‐1.7 12,430 10,786 11,126 23,216 20,903 11.1

               New Orders.............................. 12,191 10,673 9,005 14.2 18.5 ‐34.0 11,990 8,753 11,986 20,743 23,697 ‐12.5

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.   

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Advance Report, March 24, 2022. 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

Feb Jan Dec Jan ‐ Dec ‐ Nov ‐ Feb Jan Feb 2022/

2022 2 2022 r 2021 Feb 2 Jan r Dec 2022 2 2022 r 2021 2021

DURABLE GOODS

   Total:                   

               Unfilled Orders 4......................... 1,288,357 1,283,065 1,271,825 0.4 0.9 0.8 1,297,232 1,283,339 1,194,825 8.6

               Total Inventories....................... 478,509 476,495 474,225 0.4 0.5 0.8 481,769 475,642 437,994 10.0

         Excluding transportation:

               Unfilled Orders 4......................... 435,000 434,558 432,625 0.1 0.4 0.8 436,939 432,834 386,361 13.1

               Total Inventories....................... 324,419 322,463 319,926 0.6 0.8 1.1 326,982 322,283 290,658 12.5

         Excluding defense:

               Unfilled Orders 4

........................... 1,078,110 1,071,911 1,058,597 0.6 1.3 1.2 1,087,080 1,072,667 975,937 11.4

               Total Inventories....................... 453,417 451,296 449,096 0.5 0.5 0.9 456,654 450,539 413,532 10.4

    Manufacturing with unfilled orders:

               Unfilled Orders......................... 1,288,357 1,283,065 1,271,825 0.4 0.9 0.8 1,297,232 1,283,339 1,194,825 8.6

               Total Inventories....................... 385,665 383,930 382,420 0.5 0.4 0.8 387,114 382,610 353,603 9.5

    Primary metals:

               Unfilled Orders......................... 41,585 41,456 41,009 0.3 1.1 0.9 42,431 41,700 36,988 14.7

               Total Inventories....................... 43,413 42,943 42,706 1.1 0.6 1.0 43,699 43,333 36,552 19.6

    Fabricated metal products:

               Unfilled Orders......................... 105,574 105,433 105,303 0.1 0.1 0.6 104,787 103,721 89,681 16.8

               Total Inventories....................... 63,310 63,158 62,726 0.2 0.7 1.2 63,580 63,186 54,685 16.3

    Machinery:     

               Unfilled Orders......................... 117,217 116,807 115,917 0.4 0.8 0.7 118,989 117,135 102,248 16.4

               Total Inventories....................... 80,465 79,664 78,691 1.0 1.2 1.4 81,310 78,772 71,116 14.3

    Computers and electronic products4

:

               Unfilled Orders......................... 124,589 124,899 124,646 ‐0.2 0.2 0.6 124,892 125,008 118,480 5.4

               Total Inventories....................... 48,102 48,199 48,147 ‐0.2 0.1 0.8 48,175 48,050 46,581 3.4

         Computers and related products:

               Unfilled Orders......................... 1,348 1,352 1,366 ‐0.3 ‐1.0 ‐3.2 1,348 1,352 1,536 ‐12.2

               Total Inventories....................... 3,782 3,787 3,831 ‐0.1 ‐1.1 0.4 3,744 3,657 3,568 4.9

         Communications equipment:

               Unfilled Orders......................... 22,055 22,199 22,106 ‐0.6 0.4 3.2 22,257 22,268 18,681 19.1

               Total Inventories....................... 5,153 5,139 5,139 0.3 0.0 0.4 5,177 5,045 5,110 1.3

    Electrical equipment, appliances,    

        and components:                   

               Unfilled Orders......................... 33,113 33,088 32,889 0.1 0.6 1.3 33,419 32,912 28,436 17.5

               Total Inventories....................... 22,695 22,512 22,234 0.8 1.3 2.7 22,998 22,514 20,201 13.8

    Transportation equipment:    

               Unfilled Orders......................... 853,357 848,507 839,200 0.6 1.1 0.8 860,293 850,505 808,464 6.4

               Total Inventories....................... 154,090 154,032 154,299 0.0 ‐0.2 0.2 154,787 153,359 147,336 5.1

         Motor vehicles and parts:

               Unfilled Orders......................... 28,699 28,459 28,369 0.8 0.3 ‐0.3 29,966 29,121 26,666 12.4

               Total Inventories....................... 50,564 50,455 50,156 0.2 0.6 1.1 51,195 50,596 43,436 17.9

         Nondefense Aircraft and parts:

               Unfilled Orders......................... 631,112 626,078 615,174 0.8 1.8 1.5 636,740 627,711 579,306 9.9

               Total Inventories....................... 75,317 75,256 75,933 0.1 ‐0.9 ‐0.4 75,362 74,575 76,658 ‐1.7

         Defense Aircraft and parts:       

               Unfilled Orders......................... 80,230 80,293 81,878 ‐0.1 ‐1.9 ‐0.2 80,104 80,353 85,394 ‐6.2

               Total Inventories....................... 12,566 12,719 12,526 ‐1.2 1.5 ‐0.8 12,595 12,660 12,409 1.5

    All other durable goods:           

               Unfilled Orders......................... 12,922 12,875 12,861 0.4 0.1 3.2 12,421 12,358 10,528 18.0

               Total Inventories....................... 66,434 65,987 65,422 0.7 0.9 0.6 67,220 66,428 61,523 9.3

    Capital goods3

:

               Unfilled Orders......................... 983,516 978,678 968,803 0.5 1.0 0.8 990,044 978,839 916,548 8.0

               Total Inventories....................... 231,192 229,957 229,128 0.5 0.4 0.7 231,769 227,746 216,927 6.8

           Nondefense capital goods:

               Unfilled Orders......................... 798,630 793,126 780,957 0.7 1.6 1.4 805,304 793,659 724,026 11.2

               Total Inventories....................... 209,867 208,504 207,744 0.7 0.4 0.7 210,450 206,330 196,188 7.3

                Excluding aircraft:               

                    Unfilled Orders.................... 244,447 244,020 242,967 0.2 0.4 0.7 246,286 243,748 221,080 11.4

                    Total Inventories................... 144,599 143,391 141,963 0.8 1.0 1.2 145,241 141,909 130,498 11.3

           Defense capital goods:

               Unfilled Orders......................... 184,886 185,552 187,846 ‐0.4 ‐1.2 ‐1.8 184,740 185,180 192,522 ‐4.0

               Total Inventories....................... 21,325 21,453 21,384 ‐0.6 0.3 0.2 21,319 21,416 20,739 2.8

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.   

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, February Advance Report, March 24, 2022. 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>.