Table 4. VALUE OF MANUFACTURERS’ INVENTORIES FOR INDUSTRY GROUPS
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted

Industry Monthly Percent Change Monthly Percer

chang

Mar. Feb. Jan.| Feb-]  Jan-] — Dec.- Mar, Feb. Jan. Mar.| Mar

1997" 1997" 1997] Mar.| Feb. Jan} 1997" 1997" 1997 1996] 97/9

All manufacturing industries .. . 442,729 | 441,908] 440,019 40.2 +04 40.51 442,647] 445,350] 438,592] 434,776 +18

Manufacturing industries
with unfilled orders. +++-+ | 297,265] 296,749] 295,380] +02] +05] +06] 296,268} 298,342] 293,078] 291,268) +17
without defense capital goods... | 424'379} 4237249] 420925] +403] +06) +04| 424460| 426°903| 419.952] 415389) +22

Durable goods industries .

280,147] 279,684] 278,390 +0.2 +05, +0.7] 279,664] 282,346] 277,324] 272,817 42.5
With unfilled orders

257,889 | 257,400} 256,233 +0.2 +0.5 +0.7| 256,854} 259,086] 254,597] 249,971 42.8

Stone, clay, and glass products . 8508] 8,526] 8,511 02] +02) +09} 8700] 8,722] 8,485] 8.598] 41.2
Primary metals 24,255} 24,042) 23,952} 40.9] +04] = -0.9] 24,198] 24.101] 24,002] 23,794] +17
Blast furnaces, 12,211] 12,062] 12,041) +12} 40.2] -1.4] 12,028] 12.128] 12,259} 11,636] 43.4
Iron and steel foundries 1,508 1,512 1499) 03] +09] = +03 1350] 1,525 1,475 1482] +46
Nonferrous and other primary
metals... 2.2... +++] 10,536] 10,468) 10,412] +06] = +05} = --0.3} = 10,620] 10,448] 10,268] 10,676] -0.5
Fabricated metal products. 26,802} 26,549] 26371] +10) +0.7] +07] 27,083] 26,707] 26.283] + 26.397| +26
Industrial machinery and equipment - | 57,974] 58,039] 57,843] -01] 403] +04] 57,421] 59039] 57,752} 58,528 19
Engines and turbines : 3,792] 3,840) 31823) -13] +04] = -18] 3654] 3,747] 3,632] 3,646] +02
Farm and garden machinery. . . 2,930] 2,939] 2,877] 03] 422] 433) 93,117] 3.277] 3164] 305s] #20
Construction, mining and
material handling equipment .. . . 7,309] 7,341 7,358] -0.4 02) +02) 7426] 7,451 7,367} 7,207] #3.0
Metalworking machinery ....... 7,294] 7,163} 7,000] +18] +23] +05] 7,192] 7,137] 6.878] 6,928] 43.8
Computer and office equipment . . . 11,759} 11,839} 1,718] 0.7] +10] -04] 11,077] 12.237] 11659] 12847] 13.8
Electronic and other
electrical equipment ........... 40,741] 40,897] 40,898] -0.4 0.0] -06} 40,365] 40,948} 40,502] 40,313] 40.1
Electrical transmission and
distribution equipment and
industrial apparatus ........... 4,851 4864] 4838] 03] +05] +04] 4,819] 4,870] 4,761 4722] +21
Household appliances .......... 2,684 2,727 2,746 -16 0.7 0.7 2,799 2,869 2,742 2,770 +10
Electric lighting and
wiring equipment ............ 3343} 3,347) 3,335] 0.1] +04] 40.5] 3,336] 3,356] 3.267] 3,360] -0.7
Household audio and
video equipment ....... a 1,472 1,532 1569] 39) 24] +03 1410 1,504 1,514 1559] -9.6
Communications equipment ..... | 11,383] 11,346] 11,321] +03] 40.2) 40.5) 11222] 11394] 11267] 10,432] +76
Electronic components ......... | 13,476] 13,538] 13,544] -0.5 00} -22] 13,247] 13,471] 13,509] 13,858] -4.4

Transportation equipment . .
Motor vehicles and parts .
Aircraft, missiles,

space vehicles, and parts.

70,919 70,785 69,935 +02 +12 42.6 71,152 71,644 69,633 65,688 +83
15,937 15,899 15,694 +0.2 +13 +0.4 16,066 16,100 15,764 15,950 40.7

50,093 49,929 49,231 +03 +14 +3.4 50,110 50,461 48,853 44,629 412.3

Shipbuilding and tanks . . . . 1,900 1,895 1904] 403} 05 0.1 1,930] 1,927 1,897 1875] +29
Instruments and related products. | 25'246| 25.214) 25.256] +01 02] +09] 24,998] 25,093] 24,728] 24,234] 43.2
Search and navigation equipment. 6,841 6,838] 6,869 00) 05) +20) 6,725) 6827) 6,717] 6,260} +74
Measuring and controlling devices 8102] 8,080] 8,128} +03] 9-06] +01 8,094] 8,064} += 8,020] 7884] 42.7
Medical instruments and supplies : 7,612 7,598 7,589 +02 40.1 +14 7,505 7,571 7,470 7,096 +58
Photographic goods . a 2,041 2,047 2,022 03 +12 14 2,025 1,984 1,884 2,370] -14.6
All other durable goods . 25,702] 25,632] 25.624] +03 00] -01] 25,747] 26,092] 25.939] 25,265} +19
Nondurable goods industries . . . 162,582] 162,224] 161,629] +02] +04 162,983 | 163,004] 161,268] 161,959] +06

39,414 39,256 38,481 41,293 46
33,306 33,527 33,475 32,817 +15
4,084 4,040 3,908 4,134 -12
2,932 2,837 2,705 2,499 +173

With unfilled orders... . . sae 39,376 39,349 39,147 40.1
Food and kindred products fee 33,556] 33,386] 33,095] +05
Meat products . 4,004 3,975 3,968 +0.7
Dairy products - 2998 2928 2.769 42.4

Beverages . 6,274 6,283 6,272 0.1 6,324 6,286 6,235 6319 +0.1
All other foods, except ‘fats and oils 18,014 17,947 17,854 +04 17,582 17,942 18,210 17,724 0.8
Tobacco products .............. 5,954 5,970 6,027 03 6,043 6,454 6,534 $,723 45.6
Textile mill products . sees 10,104 10,061 10,101 +04 10,166 10,198 10,091 10,210 -04

Broadwoven fabrics and.
other textiles . feet 5,979] 5,987] 6,039] -0.1 09] +04] 5,997] 6,088] 6,066} = 6,079] 1.3
Paper and allied products ves | 16,305] 16,226] 16,389] +05] -10] 05] 16496] 16383] 16,375] 17,727] -69
Pulp, paper, and

Paperboard mill products... . 6,630] 6,696 6,728 -1.0 -0.5 6,743 6,839 6,765 7,503] -10.1
Paperboard containers and boxes . . 4,108 4,005 4,035 42.6 0.2 4,153 4,056 4,041 4,426 6.2
Miscellaneous converted

Paper products 5,567 5,525 5,626] +08 -18 -08 5,600 5,488 5,569 5,798 34

Chemicals and allied products |

40,245, 40,134 39,869 +03 +0.7 40.1 40,622 40,554 39,755 39,365 +32
Industrial chemicals

19,514 19,360 19,309 +08 +03 +0.1 19,573 19,611 19,558 18,873 +37

Drugs, soaps, and toiletries. 15,624] 15,662] 15,455] -02] #13 0.2] 15,530] 15,465] 14.885] 15.200] +22
Petroleum and coal products . 13,098] 13,068} 13,224] 40.2] 9-12] +24] 12.938] 12,731] 12.878] 12216] +59
Rubber and plastics products 15,870] 15,847] 15,796] +01} 40.3] = 40.8] 16,266] 16,243] 15,934] 15,608] +4.2
All other nondurable goods 27,450| 27,532) 27,128 03 +15 -0.3} 27,146] 26.914] 26,226] 28,293 41

® Preliminary. * Revised.
See note at end of table 2 relating to survey error and revision.


10 Total Manufacturing
New Orders and Shipments

Three Month Moving Averages
Billions of Dollars

360 360
New Orders

Ce Shipments | 340

320 320

300 300

280 280

260 L 1 L L L 1 L 1 1 L 1 il 1 260
Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar

Mar. 1995 - Mar. 1997

Total Manufacturing
Ratio of Unfilled Orders and
Inventories to Shipments

V/S Ratios UO/S Ratios
2.5 3.9
2.4 vos | 3.8
2.3 vs [43.7
2.2 === 3.6
2.1 3.5

2 3.4
1.9 3.3
1.8 3.2

1.7
1.6
1.5
1.4
1.3
1.2

3.1
3

2.9
2.8
2.7
2.6

Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar
Mar. 1995 - Mar. 1997

Note: All Charts based on seasonally
adjusted current dollars.


Table 6. VALUE OF MANUFACTURERS’ UNFILLED ORDERS AND TOTAL INVENTORIES

FOR TOPICAL SERIES!
(Millions of dollars)

Seasonally adjusted

Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent
change
Mar. Feb. Jan. | Feb- | Jan- | Dec.- Mar. Feb. Jan. Mar. | Mar.
1997" 1997" 1997 | Mar. | Feb. | Jan. 1997" 1997" 1997 1996 | 97/96
UNFILLED ORDERS
All manufacturing industries 520,117 | 522,060 | 519,110 04 40.6 40.9 | 524,244 | 525,565 | 519,996 | 498,865 $5.1
Market categories :
Automotive equipment . . 2,025 1989 | 1966} +18] +12] +22] 2075 | 2,052} 2,016 1,977 +5.0
Home goods and apparel 8.181 8,430 | 8,592 30] +19] -76] 8230] 8244] 8047 | 9527] -13.6
Consumer staples ....... 2,084 1884] 2137 | +106] -118] +26] 1,945 1812 | 2,146 1702 | +143
Machinery and equipment . 234,607 | 235,309 | 232,580 03 | +12 | +12 | 234,721 | 236.357 | 232,954 } 223,120 +52
Business supplies .......- 6,623 | 6396 | 6583} 435] 28] -08 | 6565 | 6277 | 6514] 6,121 +73
Construction materials
and supplies 16,203 | 16,289 | 16,425 05 | -08 | +12 | 16387 | 16,428 | 16,298 | 15,895 43.1
Defense products 102,965 | 104,471 | 105,464 -14]  -09 | +01 | 105,753 | 104,802 | 105,743 | 104,259 414
Other materials, supplies and
and intermediate products . 147,429 | 147,292 | 145,363 40.1 +13 +1.6 | 148,568 | 149,593 | 146,278 | 136,264 +9.0
Durable goods industries :
Nondefense capital goods* ...... 255,414 | 256,072 | 253,309 03 +11 +11 | 255,487 | 257,228 | 254,092 | 241,468 +5.8
Excluding aircraft and parts .... | 99356 | 98,730 | 96465 | +06] +23] +06} 99,429 | 99,886 | 97,248 | 98,624 +08
Defense capital goods‘... ... 108,081 | 109,517 | 110,438 -13 -0.8 | +0.1 | 110,931 | 109,863 | 110,687 | 109,239 +15
Durables excluding capital goods 131,373 | 131,716 | 130,224 03] 411 +17 | 132,513 | 134,257 | 130,776 | 124,661 +63
Miscellaneous series :
Producers’ durable equipment . . 268,016 | 268,462 | 265,411 02 | +11 | +14 | 268,149 | 270,042 | 266,124 | 256,683 +4.5
Household durable goods . : 5,313 5,435 5,325 22 42.1 63 5,284 5,409 5,208 5,905 10.5
Information technology industries 39,100 | 39,080 | 37,560 40.1 +4.0 +15 | 38,563 | 38,881 37,102 | 39,037 12
Health care equipment
and products ..........-++-: 7924} 8,023} 8050] -12] -03 | +53] 7,781 8,292 | 8,242 | 7,410 +50
TOTAL INVENTORIES
All manufacturing industries... .. 442,729 | 441,908 | 440,019 40.2 +04 +0.5 | 442,647 | 445,350 | 438,592 | 434,776 +18
Market categories :
Automotive equipment 8,017 | 7,995 | 7,935 | +03] +08] +06] 8161 8175 | 7,933 | 8,118 40.5
Home goods and apparel 32,104 | 32,101 | 32,143 00] -01 | +01 | 32,007 | 32,101 | 31,852 | 32,143 0.4
Consumer staples ....... 65,605 | 65,464 | 64,945 | +02] +08] -02 | 65,205 | 65,531 | 64,803 | 64,076 +18
Machinery and eauipment . 114,932 | 114,575 | 113301 | +03] +11 | +15 | 114,411 | 116,340 | 112,709 | 107,800 +61
Business supplies 26,302 | 26211 | 26,094 | +03] +04] +01 | 26350} 26,091 | 25597 | 26214 +08
Construction mater
and supplies. . 26,295 | 26,275 | 26,223 | +01] +02] +401 | 26,649 | 26,671 | 26,245 | 26,404 +09
Defense products 18,212 | 18,505 | 18,922 16] 22 | +29] 18,078 | 18,323 | 18,555 | 19,167 “37
Other materials, supplies and
and intermediate products ...... 151,262 | 150,782 | 150,456 +03 +0.2 0.1 | 151,786 }| 152,118 | 150,898 | 150,854 +0.6
Durable goods industries :
Nondefense capital goods * ..... . 108,993 | 108,672 | 107,415 40.3 +12 +13 | 108,152 | 110,137 | 106,774 | 101,527 46.5
Excluding aircraft and parts. . 70,463 | 70,587 | 70,442 0.2 40.2 +0.4 | 69,499 | 71,294 | 69,816 | 70,101 09
Defense capital goods * 18,350 18,659 19,094 17 23 42.9 18,187 18,447 18,640 19,387 6.2
Durables excluding capit 152,804 | 152,353 | 151,881 +03 +03 0.0 | 153,325 | 153,762 | 151,910 | 151,903 +09
Miscellaneous series :
Producers’ durable equipment . . 182,185 | 181,579 | 180,232 403 +0.7 +11 | 181,751 | 183,843 | 179,451 ] 174,551 +4.1
Household durable goods ....... 15,541 15,563 15,648 -0.1 05 +0.1 15,518 15,775 15,605 15,154 42.4
Information technology industries . | 35,550 | 35,565 | 35,453 00] +03] +03 | 34669 | 35.938 | 35,075 | 35,719 29
Health care equipment
and products ............ 16,106 | 16,111 | 15,992 00] +07] +06] 15,951 | 15,982 | 15,570 | 15,361 $3.8

See footnotes at end of table 5.

See note at end of table 2 relating to survey error and revision.


Table 5. VALUE OF MANUFACTURERS’ SHIPMENTS AND NEW ORDERS
FOR TOPICAL SERIES’
(Millions of dollars)

Seasonally adjusted ‘Not seasonally adjusted *
Monthly Percent Change Monthly Percent Year to date
Industry change

Mar. Feb. Jan. | Feb.- | Jan.-| Dec.- Mar. Feb. Jan. Mar. Mar.
1997? | 1997" 1997 | Mar. | Feb.) Jan. 1997? | 1997" 1997 1996 | 97/96 1997" 1996

SHIPMENTS,

All manufacturing industries ..... 321,149] 321,419] 318,498) -0.1] +0. +1

336,581] 319,329) 288,346] 315,096 +6.8| 944,256] 884,405

Market categories :
Automotive equipment ....-
Home goods and apparel
Consumer staples
Machinery and equipment
Business supplies
Construction materials

13,745] 13,961] 14,226] -1.5) 1.9] +6.4) 14,700] 15,332) 13,439] 13,398] +9.7| 43,471) 40,417
48,992] 19,326] 18,976] -1.7] +18) -0.7) 19,815 19,061} 15,900} 19,221 43.1 54,776| 51,491
67,138] 67,413] 68,476} -0.4 -1.6|  +1.7| 67,245) 64,873) 64,005] 64,441 +4.4) 196,123} 184,421
58,766] 57,146] 55,960) +2.8)  +2.1| -1.4| 66,038] 36,677] 47,352] 59,891] +10.3) 170,067 157,335
25,195] 25,493] 25,348] 1.2) +0.6|  +0.6| 25,397 25,126} 23,271} 24,098) +54 73,794] 69,409

and supplies ........ 19.916] 20,093} 19,815] -0.9] +14) +23] 19,943] 19,206) 17,384] 18,469) +8.0[ $6,533] 52,047
Defense products .........-0+5 6574] 6779] 6371] 3.0| +64] -23| 6.970] 6,863] 5,318] 6,844) +1.8) 19,151] 18,362
Other materials, supplies and

rand intermediate products ..... | 110,823} 111,208] 109,326] 0.3] +1.7] +1.6] 116,473] 112,191] 101,677} 108,734) +7.1) 330341) 310,923

Durable goods industries :
Nondefense capital goods*......] 45,673) 44,148) 43,121
Excluding aircraft and parts ....| 39,194] 38,344) 37,262]
Defense capital goods * 6,195] 6,433) 6,061] -3.

Durables excluding capital goods . | 122,994] 123,160] 121,131] -0.

| +2.41 -3.3] 52,595] 42,494) 35,021] 48,208] +9.1] 130,110] 121,141
2.2) +2.9| -3.4) 45,205) 36,899) 30,578) 42,767 +5.7| 112,682] 107,832

7

1

+61 -12| 6,373} 6,459] 4,950] 6,536] +0.6 17,982] 17,282
+17] +2.7| 129,345] 125,556] 111,276} 117,884 +9.7| 366,177} 338,035

Miscellaneous series :
Producers’ durable equipment .. . . | 111,356] 110,592] 108,761] +0.7) +17) +14 122,562| 112,307] 96,062} 112,180) +9.3| 330,931] 307,296
Household durable goods ... . 9,682] 9,657] 9,246] +03) +44 -2.2| 10,500) 9,254 7,755) 9,783) +73 27,509| 25,253
Information technology industries . | 22,351] 21,944) 21,020) +19) +44 -3.1[ 26,357] 20,065) 16,697) 24,339 +83 63,119] 59,113
Health care equipment

and products ......-.--+-++-{ 10,719} 10,729} 10,856} -0.1 12) +17] 11,245} 10,412] 10,327] 10,526) +6.8| 31,984} 29,403
NEW ORDERS
All manufacturing industries . | 319,206} 324,369] 323,210] -1.6)  +0.4] +2.5] 335,260) 324,898] 299,579] 321,970) +4.1] 959,737} 908,795

Market categories :
‘Automotive equipment ...... -| 13,781] 13,985| 14.269] -1.5]  -2.0] 46.7] 14,724] 15,368] 13,580] 13,351] +103) 43,672) 40.476
Home goods and apparel 18743) 19,164] 18.273] -22| +49|  -3.8) 19,801] 19.258] 16,327) 19,694) +0.5] 55,386] | 53.408
Consumer staples ........ 67338] 67.161) 68529] +03] -2.0] +1.7] 67,378) 64,539) 64,052] 64,348) $4.7] 195,969) 184.298
Machinery and equipment . . 58.064] 39.874] 58.775] -3.0| +19] +4.8] 64,402] 60,080] 51,515 63,488] +1.4] 175,997) 171.595
Business supplies . 35.422) 25307] 25.295] +05) 0.0 +0.2| 25,685] 24,889| 23,297] 24,0231 +6.9) 73,871] 69,295
Construction materials

and supplies :
Defense products .
Other materials, supplies and

19,830] 19,957] 20,010} -0.6} -0.3| +10, 19,903] 19,336] 17,762] 18,487 477 57,001 52,665
5,068) 5,787] 6,439 12.4) -10.1) -22.5) 7,921 5,922] §,416| 11,976] -33.9 19,259) 24,250.

nd imermediate products. .....| 110,960} 113,134] 111,620] -1.9} +14) +5.1] 115,446] 115,506] 107,630} 106,603] +83) 338,582} 312,808
Durable goods industries =
Nondefense capital goods’ ......| 45,015{ 46911] 43,819] -4.0] +24] +441 50,854] 45,630) 39,015] 51,873] -2.0) 135,409) 135.488
Excluding aircraft and parts. ..| 39,820] 40,609, 37.870] -19] +72) +3.) 44,748] 39,537] 32,482) 41,905) +6.8) 116,767 111,132
Defense c soods * 4759] 5312) 6.201) -13.7| -11.1] -23.0| 7,641] 3,635] 5,299] 11,671] -34.5) 18,575) 23,410

Be ee .
Durables excluding capital goods . | 122,651| 124,652] 123,350) -1.6) +1.) +5.51 127,601] 129,037] 118,073] 115,977] +10.0) 374,711 341,266

Miscellaneous series :
Producers’ durable equipment tosi0| 113,643] 111,522| 2.4] +19] +3.3) 120,669] 116,225] 101,719] 114,676] +5.2) 338,613) 321,635
Household durable goods... | 9.360] 9.767] 8885-21] +9.) -7.1] 10,375] 9,455) 8.154] 9,909] +4.7) 27.984) 26.088
Wrusctttion technology industries | 22371] 23464] 21'582| 47] +82] +5.1) 26,039] 21,844] 17,063} 24,162] +7.8) 64,946) 59.907
Health care equipment
and products .........- _...1 10,620/ 10,702] 11,262| 0.8] -s.of +8.1 10,735) 10,461) 10,928} 10,130] +6.0] 32,124] 29,286

” Preliminary. ‘ Revised.

' Topical series are regroupings of the separate industry categories

2 Shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-month variations.

> Nondefense capital goods industries include : ordnance and accessories; steam, gas and hydraulic turbines; internal combustion engines; construction, mining, and mater
handling equipment; metalworking machinery; special industry machinery; general industrial machinery: computer and office equipment; refrigeration, heating and serv

industry machinery; electrical transmission and distribution equipment; electrical industrial apparatus; communications equipment; aireraf, missiles, space vehicles, and engir
and parts; ships and tank components; railroad equipment; and search and navigation equipment.

“Defense capital goods industries include : ordnance and accessories; communications equipment; aircraft, missiles, space vehicles, and engines and parts; ships, tar
and tank components; and search and navigation equipment.

See note at end of table 2 relating to survey error and revision.


Table 8. RATIOS OF MANUFACTURERS’ INVENTORIES TO SHIPMENTS AND
UNFILLED ORDERS TO SHIPMENTS, BY INDUSTRY GROUP
(Based on seasonally adjusted data)

Inventory / Shipments ratio Unfilled Orders / Shipments ratio!
Industry Mar. Feb. Jan. Dec. Mar. Feb. Jan. Dec
197° 1997" 1997 1996 1997" 1997" 1997 1996
All manufacturing industries . . 138 137 1.38 139 2.90 292 2.98 2.95
Durable goods industries .......... 1.60 161 1.63 1.64 3.45 3.50 3.57 3.54
Stone, clay, and glass products. 11s 114 118 1.23 0.95 093 0.99 1.04
Primary metals... ..... . 1.55 1.53 154 159 198 196 197 2.00
Fabricated metal products... . 150 147 148 1.49 145 143 144 1.44
Industrial machinery and equipment - 176 1.80 1:80 177 237 241 2.40 234
Electronic and other
electrical equipment... 138 143 152 148 1.76 1.83 1.87 1.76
Transportation equipment . : 178 177 175 178 12.26 12.47 12.78 12.89
Instruments and related products . . . 193 191 199 197 371 3.66 3.76 3.71
Nondurable goods industries . . Lil 1.10 1,09 1.10 0.70 0.68 0.70 0.70
Food and Kindred products 0.85 0.85 0:84 0:86 (x) (X) (X) (x)
Tobacco products ...... 1.98 2.05 1,96 2.08 (x) (X) (X) (x)
Textile mill products 1.50 1.49 151 152 (NA) (NA) (NA) (NA)
Paper and allied products |... 125 122 123 124 (NA) (NA) (NA) (NA)
Chemicals and allied products : 125 123 123 124 tote) ) () (X)
Petroleum and coal products... . 0.85 081 0.80 0.78 &) & (X) &
Rubber and plastics products 132 130 131 133 &) x) &) (X)

* Preliminary. ‘ Revised. (X) Not applicable. (NA) Not available

" Excludes the following industries with no unfilled orders : Wood and lumber products; glass containers; metal cans, barrels and drums; farm and garden machinery;
motor vehicle assembly operations; other transportation equipment; foods and related products; tobacco; knitting mill products; apparel and related products; chemicals;
petroleum and coal products; and rubber and plastics products.

Table 9. REVISIONS TO PREVIOUSLY PUBLISHED MONTHLY PERCENT CHANGES
(Based on seasonally adjusted data)

Shipments New orders Unfilled orders Inventories
Industry
Mar. Mar. Mar. Mar.
Mar} 1996- Mar.? | 1996- Mar. | 1996- Mar? | 1996-
Mar. | 1992-] Feb. ] Mar} 1992-] Feb. | Mar.’ | 1992-] Feb. | Mar.' | 1992-] Feb.
1997] 1996] 1997] 1997] 1996| 1997| 1997] 1996 | 1997] 1997 | 1996 | _ 1997
All manufacturing industries . . o4) 01 01 (%) 01 02 (xX) 0.0 Ol (X) 0.0 0.0
Durable goods industries ...... : -0.1 02 02 04 03 03 02 Ol 01 (xX) 01 01
Stone, clay, and glass products . fe) 07 06 (X) a) 07 (00) 04 06 & 0.1 O1
Primary metals... .. . 0.6 04 04 09 06 08 0.1 03 04 &) ol 00
Fabricated metal products ........ &® 03 03 (X) 04 0.6 ) 03 03 (x) 02 o1
Industrial machinery and equipment 03 03 04 02 04 04 0.2 01 01 (x) O14 Ol
Electronic and other
electrical equipment .......... 0.1 02 05 1.0 06 08 0.7 02 04 (X) 02 02
Transportation equipment .........] -0.7 05 04} 03 11 10 0.0 01 02 & 0.0 Ol
Instruments and related products . . . . ea) 02 04 oa) 0.5 1.0 & OL 0.2 &) 0.0 0.2
Nondurable goods industries ........] (x) 01 o1 ) 0.1 0. 9) 03 0.2 rea) o1 ol
Food and kindred products . : x) 02 02 (x) (xX) (x) (Xx) (x) (x) (X) 01 01
Tobacco products... - : &) 05 01 Ol OW) WO] WM) MW] Wl & ol 0.0
Textile mill products . . . (x) 03 03 (x) (NA) (X) | @NA) | NA) (xX) 02 0.2
Paper and allied products | &) 03 02 | aay] (NA) (&)] (NA) | (NAD &) oO. Ol
Chemicals and allied products... . - &) 01 03 &) ® &) &) re) & & on Ot
Petroleum and coal products : & 04 03 (xX) (X) (xX) (xX) (X) (X) (Xx) 0.1 04
Rubber and plastics products (xX) 02 03 (X) (X) (X) (X) (X) (X) (X) 02 02
Capital goods industries :
Nondefense -08 02 03 04 05 05 02 01 Ol ) 0.1 0.1
Defense ..... bees oo -03 03 0.6 34 19 47 03 O41 03 (X) 0.2 0.2

(X) Not applicable. (NA) Not available.

Note : The five year and 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.

The current month revisions are the difference between the advance percent change and the percent change as shown in this publication
? Average for this month for the last five years.
See note at end of table 2 relating to survey error and revision.


CURRENT INDUSTRIAL REPORTS

U. S. Department of Commerce
Economics and Statistics Administration
BUREAU OF THE CENSUS.

Manufacturers’ Shipments,
Inventories, and Orders

March 1997
M3-1-(97)-03
For Wire Transmissions 10:00 a.m. E.D.T. May 6, 1997

For Data - (301) 457-4673
For Questions - Kathy Menth or Gloria Cable
(301) 457-4804 or (301) 457-4832

Note: Alll figures in text are in seasonally adjusted current dollars

Summary

New orders for manufactured goods in March decreased $5.2 billion
or 1.6 percent to $319.2 billion, the Department of Commerce, Bureau of the
Census reported today. This follows a 0.4 percent February increase and is
the first decline since December. Excluding transportation, new orders
decreased 1.2 percent, following a 1.5 percent February increase. Year to
date, new orders are 5.7 percent above the same period a year ago; first
quarter new orders are 1.0 percent above fourth quarter 1996,

Shipments, down for the first month since December, decreased $0.3
billion or 0.1 percent to $321.1 billion, following a 0.9 percent February
increase. Year to date, shipments are 6.7 percent above the same period a
year ago; first quarter shipments are 1.3 percent above fourth quarter 1996.

Unfilled orders, down for the first month since August, decreased
$1.9 billion or 0.4 percent to $520.1 billion, following a 0.6 percent
February increase. The unfilled orders-o-shipments ratio’ was 290, down
from 2.92 in February.

Inventories, up eight of the last nine months, increased $0.8 billion
or 0.2 percent to $442.7 billion, following a 0.4 percent February increase.
The inventories-to-shipments ratio was 1.38, up from 1.37 in February

New Orders

New orders for manufactured durable goods in March decreased $4.6
billion or 2.6 percent to $172.4 billion, revised from the previously published
3.0 percent decrease. This follows increases of 1.0 percent in February and
3.8 percent in January.

Transportation equipment, down three of the last four months, had the
largest decline, $1.8 billion or 4.6 percent to $37.4 billion, due to declines
in aircraft and parts and motor vehicles and parts. This follows a 7.2 percent
February decrease, Electronic and other electrical equipment, down for the
first month since December, decreased $1.5 billion or 4.9 percent to $29.1
billion, mostly due to electronic components and communication equipment.
This follows a 7.8 percent February increase. Instruments and related
products, down for the first month since September, decreased $0.8 billion
or 5.7 percent to $13.2 billion, following a 5.9 percent February increase.
Fabricated metal products, down for the first month since December,
decreased $0.4 billion or 2.3 percent to $17.9 billion, following a 1.8 percent
February increase. Industrial machinery and equipment, down for the first
month since November, decreased $0.3 billion or 1.0 percent to $32.8
billion. This follows a 2.0 percent February increase. Stone, clay, and glass
products, up for the fourth consecutive month, increased $0.2 billion or 2.1
percent to $7.5 billion, following a 1.4 percent February increase.

New orders for nondurable goods, down three of the last four months,
decreased $0.5 billion or 0.3 percent to $146.8 billion, following a 0.4
percent February decrease. Petroleum and coal products and paper and
allied products had the largest decreases. Printing and publishing had the
largest increase.

Shipments

Shipments of durable goods in March, up for the third consecutive
month, increased $1.1 billion or 0.6 percent to $174.9 billion, revised from
the previously published 0.7 percent increase. This follows a 2.0 percent
February increase. Electronic and other electrical equipment had the largest
increase, $0.9 billion or 3.1 percent to $29.5 billion. This follows a 6.1

(See Back Page for Upcoming Re
Our internet address is http:/www.census.gow/ftp/pub/in

percent February increase and is the sixth increase in the last eight months.
Industrial machinery and equipment, up three of the last four months,
increased $0.6 billion or 1.8 percent to $32.9 billion, following a 0.5 percent
February increase. Fabricated metal products, down for the first month since
December, decreased $0.2 billion or 1.3 percent to $17.9 billion, following
a 1.6 percent February increase, Instruments and related products, down
three of the last four months, decreased $0.1 billion or 1.1 percent to $13.1
billion. This follows a 4.4 percent February increase. Primary metals, down
for the first month since September, decreased 0.3 percent to $15.6 billion,
following a 0.8 percent February increase. Transportation equipment, down
for the first month since December, decreased slightly to $39.9 billion.

Shipments of nondurable goods, down three of the last four months,
decreased $1.4 billion or 0.9 percent to $146.3 billion. This follows a 0.3
percent February decrease. Petroleum and coal products had the largest
decrease, $0.6 billion or 3.9 percent to $15.4 billion. This follows a 3.0
percent February decrease and is the fourth consecutive monthly decline.

Unfilled Orders

Unfilled orders for durable goods in March decreased $2.4 billion or 0.5
percent to $494.9 billion, revised from the previously published 0.7 percent
decline. This follows a 6.7 percent February increase and is the first decline
since August 1996.

Transportation equipment decreased $2.5 billion or 1.0 percent to $251.9
billion, due to aircraft and parts. This follows a 0.3 percent February
decrease and five consecutive increases. Electronic and other electrical
equipment, down for the first month since December, decreased $0.4 billion
or 0.7 percent to $52.0 billion, following a 4.1 percent February increase.
Industrial machinery and equipment, down for the first month since
December, decreased $0.1 billion or 0.1 percent to $73.2 billion, following
a 1.2 percent February increase. Primary metals, up for the third consecutive
month, increased $0.2 billion or 0.7 percent to $31.0 billion, following a 0.4
percent February increase. Instruments and related products, up for the fifth
consecutive month, increased $0.2 billion or 0.3 percent to $48.6 billion,
following a 1.7 percent February increase.

Inventories

Inventories of durable goods in March, up eight of the last nine months,
increased $0.5 billion or 0.2 percent to $280.1 billion, This follows a 0.5
percent February increase. Fabricated metal products, up for the sixth
consecutive month, increased $0.3 billion or 1.0 percent to $26.8 billion,
following a 0.7 percent February increase. Primary metals, up four of the
last five months, increased $0.2 billion or 0.9 percent to $24.3 billion,
following a 0.4 percent February increase. Transportation equipment, up ten
of the last eleven months, increased $0.1 billion or 0.2 percent to $70.9
billion. This follows a 1.2 percent February increase. Electronic and other
electrical equipment, down for the fourth consecutive month, decreased $0.2
billion or 0.4 percent to $40.7 billion.

Inventories of nondurable goods, up for the eighth consecutive month,
increased $0.4 billion or 0.2 percent to $162.6 billion, following a 0.4
percent February increase. Food and kindred products and chemicals and
allied products had the largest increases.

By stage of fabrication, March finished goods decreased 0.9 percent in
durables and increased 0.3 percent in nondurables. Work in progress
increased 0.4 percent in durables and 0.1 percent in nondurables. Materials
and supplies increased 0.8 percent’ in durables and 0.1 percent in
nondurables.

‘The advance report on durable goods for May is scheduled for May 28, 1997 at 8:30 a.m. and the full report on June 4, 1997 at 10:00 a.m. For sale by the Superintendentof Documents,
U.S. Government Printing Office, Washington, DC 20402. This report is available on the day of issue through the Department of Commerce's online Economic Bulletin Board (N-8-1)

(202-482-3870).


Nondefense Capital Goods "1

New Orders and Shipments

Three Month Moving Averages
Billions of Dollars

§2F--------------------- ------ - - - - - - e e ee New Orders |] 52

Shipments

1 L i 1 i. L L 1 a 1 il 1 i
Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar
Mar. 1995 - Mar. 1997

Defense Capital Goods
New Orders and Shipments

Three Month Moving Averages

Billions of Dollars
10 10

New Orders
9 “|

Shipments

ql n n 1 n n ‘ i l 1 nl n id 4
Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar

Mar. 1995 - Mar. 1997

Note: All Charts based on seasonally
adjusted current dollars.


Table 7. VALUE OF MANUFACTURERS’ INVENTORIES, BY STAGE OF FABRICATION,
BY INDUSTRY GROUP

Millions of dollars)

Seasonally adjusted

Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent
change
Mar. Feb. Jan. | Feb- | Jan- | Dec. Mar. Feb. Jan. Mar. | Mar
197° 1997" 1997 | Mar. Feb. Jan. 1997" 1997" 1997 1996 | 97/96
MATERIALS AND SUPPLIES
All manufacturing industries 143,853 | 143,127 | 142,561] +05] +04 | +02 | 143,102 | 143,640 | 143,513 | 144,640 oat
Durable goods industries... . 83,014 | 82,365 | 82,274 | +08] +01 | +02 | 81,947 | 82,597 | 82,983 | 83,027 “13
Stone, clay, and glass products 2.817 | 2830 | 2,817 05] +05] +06 1795 | 2,838 | 2,816 2,765 +1]
Primary metals... . : 742 | 7912] 7829] +04] +11] +04] 7,712 | 7889 | 7,957 7313 +55
Fabricated metal products -| 9945 | 91830 | 9831] +11] +01] +08] 9906] 9.846 | 9.949 | 9.657 +26
Industrial machinery and equipment 17,004 | 16,751 | 16,631 | +15 | +07] -0.2 | 16565 | 16,866 | 16,608 | 17,568 57
Electronic and other
electrical equipment .. . 14,166 | 13,955 | 13996 | +15] -03 -2.1 | 14,055 | 13,829 | 13,980 | 14,734 46
Transportation equipment - 12,760 | 12,758 | 12,871 oo] -09 | +28] 12,796 | 12,870 | 12,983 | 12,871 -0.6
Instruments and related products 7992 | 7929} 7893 | +08] +05] +06] 7,942 "876 | 7/921 7598 44.5
Lumber, furniture and
miscellaneous durable goods .. . . 10,388 | 10,391 | 10,406 0.0 -0.1 | 10,176 | 10,583 | 10,769 | 10,521 33
Nondurable goods industries . 60,839 | 60,762 | 60,287 | +01 +0.2 | 61,155 | 61,043 | 60,530 | 61,613 07
Food and Kindred products 11525 | 11,608 | 11,486 0.7 -O.1 | 11652 | 11788 | 11,774 | 11,766 “10
Tobacco products ....... 4854 | 4:831 4835 | +05 +12 039 | 5146 | 5168 | 4.841 +41
Textile mill products . 3211 3162 | 3117 | +15 +16 | 3,234 3217 3,124 2)954 +95
Paper and allied produ : 7,726 | 7,731 7,780 0.1 +0.2 | 7,766 | 7,770 | 7,743 81344 69
Chemicals and allied produ 13,450 | 13,331 | 13,148 | +09 +05 | 13420 | 13,285 | 13,078 | 12,834 +46
Petroleum and coal products 4458 | 4.45; 502 0.0 +361 4454 | 4301 4348 237 +511
Rubber and plastics products... . . 5,901 5,927 | 5.984 -0.4 +10 5.928 | 5,967 6,017 5,794 +23
Apparel, printing and publishing
and leather goods ..... . 9,714] 9,714 | 9,435 0.0 26 | 9,662 | 9,569 | 9,278 | 10,843 | -10.9
WORK IN PROCESS
All manufacturing industries 148,970 | 148,417 | 147,582 | +04] +06 | +06 | 148,698 | 149,040 | 146,387 | 142,281 +45
Durable goods industries ...... 122,433 | 121,911 | 121,301 | +04} +05 .7 | 122,338 | 122,667 | 120,148 | 116,575 +49
Stone, clay, and glass products 1272 1281 1265 07} +13 . 351 1,342 1233 321 423
Primary metals 97008 | 8981 gol | +03 | +01 6 | 9079 | 8.955 8884 | 9114 “04
Fabricated metal products 77331 77329 | 7241 oo | +12 3 73346 | 7,305 TIS 7470 17
Industrial machinery and equipment | 23,815 | 23,580 | 23,740 | +10] -0.7 8 | 23,629 | 23,812 | 23,469 | 23,689 03
Electronic and other
electrical equipment .. . 15,160 | 15,165 | 15,120 oo] +03 | -14 ] 15,178 | 15,225 | 14,966 | 14,902 +19
Transportation equipment . . 50,150 | 49812 | 49089 | +07] +15 | 424] 50,140 | 50;248 | 48:87 | 44,705 | +122
Instruments and related products - 1177 {11258 | 11381 07] 11 | +10] i072 | 11261 | 11,079 | 10,767 428
Lumber, furniture and
miscellaneous durable goods 4520 | 4,505 | 4,494] 403] +02] +05] 4,543 | 4,519 | 4,465 | 4,607 -14
Nondurable goods industries . 26,537 | 26,506 | 26,281 +0.1 | +09] +03 | 26,360 | 26,373 | 26,239 | 25,706 42.5
Food and kindred products 1566 | 4,634 573 15] +13 | +07 | 4,506 | 4,636 | 4,784 423 +19
Tobacco products... . 304 290 +48] +169 | 40.7 259 275 274 223 | +16.)
Textile mill products . 2,655 | 2,663 | 2,653 03 | +04 “15 664 | 2,667 | 2,659 | 2,834 -6.0
Paper and allied products - 1,769 1,772 1,779 02] 04 0.9 1,776 1,769 1,787 1,780 -0.2
Chemicals and allied products 7,023 6894 | 6829] +19] +10} +08 | 7,000 | 6,891 6.772 6,705 +44
Petroleum and coal products : 2679 | 2,695 | 2.728 06] -12] +38] 2666 | 2630] 2,681 2,514 +6.0
Rubber and plastics products... . 2142 | 2106} 2051 | +17) 427) +04] 2145 | 2158] 2089 | 2,071 43.6
Apparel, printing ané publishing
and leather goods ....... 5,399 | 5,452 | 5,420 10] +06] +422] 5,344 5,347 5,193 5,156 +36
FINISHED GOODS
All manufacturing industries 149,906 | 150,364 | 149,876 03 | +03 | +06 | 150,847 } 152,670 | 148,692 | 147,855 +20
Durable goods industries... . 74,700 | 75,408 | 74,815 09 | +08 | +13 | 75,379 | 77,082 | 74,193 | 73,215 +3.0
Stone, clay, and glass products . 4419 | 4415 | 4,429 | 40.1 03 | 414] 4554] 4,542 | 4436 | 4512 +09
Primary metals. . 7/305 7149 | 7,152 | +22 00}  -13 7,407 7257 7161 7367 +0.5
Fabricated metal products |. -| 9526 | 9381 9299 | +15] +09 0.0 | 9.831 9556 | 9,159 | 9,270 +61
Industrial machinery and equipment 17,155 | 17,708 | 17:472 31] +14 | +26] 17,227 | 18361 | 17,675 | 17,271 03
Electronic and other
electrical equipment . . 11415 | 11,777 | 11,782 3.1 00 | 422) 11132 | 11,894 | 11,556 | 10,677 +43
Transportation equipment . 3009 | 8,215 7975 25] +30 | +34 8216 | 8526 7773 8,112 +13
Instruments and related products 6.077 | 6027 | 5982 | +08] +08} +11 51984 5,956 5,728 5,869 +20
Lumber, furniture and
miscellaneous durable goods . . 10,794 | 10,736 | 10,724 | +05] +0.1 -03 | 11,028 | 10,990 | 10,705 | 10,137 $8.8
Nondurable goods industries . 75,206 | 74,956 | 75,061} +03] -0.1 75,468 | 75,588 | 74,499 | 74,640 +L
Food and kindred products 17,465 | 17,144 | 17,036 | +19) +06 17,148 | 17,103 | 16,917 | 16,628 3
Tobacco products. . 79 849 944 62] -10.1 745 1033 1092 659 | +13.1
Textile mill products . 4238 | 4,236 | 4,331 00] -22 4268 | 4314 | 4,308 | 4,422 35
Paper and allied products . 6810 | 6723 | 6830 | +13] -16 6,954 | 6.844 | 6,845 7,603 “85
Chemicals and allied products 19,772 | 19,909 | 19,892 07} 40.1 20,202 | 20,378 | 19,905 | 19,826 +19
Petroleum and coal products 5:961 5/915 994 | +08] -13 5.818 5,800 | 5/849 5,465 +65
Rubber and plastics products 7827 | 7814] 7,761 | +02] +07 8.193 8118 7/828 7,743 45.8
Apparel, printing and pu
and leather goods . 12,337 | 12,366 | 12,273 02] +08 12,140 | 11,998 | 11,755 | 12,294 -13

? Preliminary. ‘ Revised.

See note at end of table 2 relating to survey error and revision.


Table 3. VALUE OF MANUFACTURERS’ UNFILLED ORDERS FOR INDUSTRY GROUPS

(Millions of dollars)

Seasonally adjusted

‘Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent
change
Mar. Feb. Jan.| Feb-|  Jan-| Dec.- Mar. Feb. Jan. Mar.} Mar.
1997" 197° 1997] Mar.| Feb. Jan 1997" 197° 197 1996] 97/96
All manufacturing industries . 520,117] 522,060] 519,110] -04] +06] +09] 524,244] 525,565] 519,996] 498,865) —+5.1
Manufacturing industries
without defense capital goods ..... 412,036 | 412,543] 408,672 0.1 +0.9 +11] 413,313] 415,702] 409,309] 389,626 +6.1
Durable goods industries ......... 494,868 | 497,305] 493,971 05] 40.7] +10] 498,931] 501,348] 495,555] 475,368} —+5.0
Stone, clay, and glass products . 6,667 6,617 6,771 +08 -23 40.1 6,766 6,773 6,672 7,094 4.6
Primary metals .. . . 30,964] 30,737] 30,600] +0.7] 40.4] 9 +11] 32,679] 31,856] 30,978] 30,887] $5.8
Blast furnaces, steel mills. 12,082} 12,252} 12,367 -14 09] 0.5] 12,819] 12,930] 12,588] 12,946 -1.0
Iron and steel foundries 4,656 4,545 4,492 +2.4 +12 +14 4,852 4,690 4,501 4,147] +17.0
Nonferrous and other primary
metals... 0.2... : 14,226{ 13,940] 13,741] +21] +14] 42.5} 15,008] 14,236] 13,889] 13,794] +8.8
Fabricated metal products 24,166] 24,121] 23,874 +02 +10 +0.9] 24,269] 24,215} 23,761} 21,814] +113
Industrial machinery and equipment 73,220} 73,287) 72,421 or} +12] 40.5] 73,206) 74,501] 73,357] 71,956] +17
Engines and turbines ......... 11,816] 11,691 11,278 +L 43.7 0.3] 11,558] 11,807] 11,663 10,707 479
Construction, mining and
material handling equipment . . 9,351 9,284 9,295 +0.7 -0.1 +14 9,790 9,585 9,509 9,525 42.8
Metalworking machinery : 8,878 8,927 8,703 0.5 42.6) +22 8,878 8,927 8,703 8,884 0.1
Computer and office equipment 9,770 10,248 10,364 47 “Ll 0.1 9,213 10,053 9,929 9,181 403
Electronic and other
electrical equipment ........... 51,969] $2,321] $0,283 O07} +41] 43.0] 51,213] 53,358] 50,781] 49,440] 43.6
Electrical transmi:
distribution equipment and
industrial apparatus... .... 6710} 6592} 6491] +18] +16] +07] 6,816] 6,707] 6,528 6227] +95
Electric lighting and
wiring equipment ... . 4,441 4527} 4579] -19 lf 425] 4,441 4527] 4579] 4,113] +8.0
Communications equipment . 14,878 14,583 13,570 +2.0 475 +18 14,870} 14,576 13,525 15,763 5.7
Electronic components . . . 21,416] 22,205} 21,291 -36| +43) +44] 20,517] 22,897] 21.557] 19,231] +67
Transportation equipment 251,919] 254,403 | 255,084 10] 03] — +1.0] 254,553] 254,685] 255,230] 238,299} +68
Aircraft, missiles,
space vehicles, and parts. 221,184] 223,779] 223,825, 12 0.0 +11] 223,542] 223,838] 223,881 | 207,916 475
Shipbuilding and tanks 17,229 17,519 17,994 “7 26 0.4 17,245 17,480 17,917 17,438 sll
Instruments and related produ 48,609| 48.448] 47.627) +03] +17] +12] 49,114] 49,008] 48.004] 48,566] +11
Search and navigation equipment 29,069] 28,878] 28,136 40.7 +2.6 0.3} 29,569] 29,172] 28,374] 30,009 15
Measuring and controlling devices . 10,392] 10,360} 10,380) +03 02] 425] 10,392] 10,360] 10,380] 10,193} +2.0
Medical instruments and supplies 7,891 7,991 8,018 13 03 45.3 7,749 8,261 8,213 7,384 +4.9
All other durable goods ......... 77354, 7,371 7311 02! +08 47) 7,131 6.952] 6,772 73312 25
Nondurable goods industries . 25,249| 24,755] 25,139 42.0 1S 14] 25,313] 24,217] 24,441 23,497 47.7

* Preliminary. * Revised.

See note at end of table 2 relating to survey error and revision.


Table 2. VALUE OF MANUFACTURERS’ NEW ORDERS FOR INDUSTRY GROUPS
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted!
Monthly Percent Change Monthly Percent Year to date
Industry change

Mar. Feb. Jan. | Feb.-| Jan-| Dec. Mar. Feb. Jan. Mar. Mar.
1997" 1997" 1997] Mar.| Feb.| Jan} 1997? 1997" 1997 1996 | 97/96 1997° 1996

All manufacturing industries ... . . 319,206] 324,369] 323,210} -1.6] +04) 42.5) 335,260] 324,898] 299,579] 321,970] +4.1] 959,737] 908,795
Manufacturing industries

with unfilled orders . eeeee esses +? 177,611) 181,595} 179,111 -2.2) +14) +2.6) 189,873] 182,245] 165,871} 184,979) +2.6] 537,989] 515,564

without defense capital goods... . . 314,447) 318,857] 317,009] -1.4]  +0.6)  +3.1) 327,619} 319,263] 294,280} 310,299] +5.6} 941,162] 885,385

Durable goods industries.
With unfilled orders
Stone, clay, and glass pro
Primary metals... . .
Blast furnaces, steel mills . .
Iron and steel foundries
Nonferrous and other primary
metals... +--+] 8177] 8,074] 8,057] +1.3] +0.2) 49.3] 9,058) 8,372) 7,983] 8,118] +116] 25,413| 22.966
Fabricated metal products ........] 17,912) 18,343) 18,013] 23] +1.8| +26 18576] 18.674] 16,762| 17/406, +67] 54.012 50,050
Industrial machinery and equipment .| 32,818] 33,154] 32,500] -1.0] +2. +09] 37,438] 33,071] 28,544] 35347] +59] 99.053] 95,300
Engines and turbines ..... . ” 1,802) 2,046] 1,678) -11.9] +219] -22) 1,694) 1,773] 1.211] 1,427] 418.7) = 4,678] 4,491
Construction, mining and
material handling equipment
Metalworking machinery . .
Computer and office equipment
Electronic and other
electrical equipment ...........) 29,126] 30,632] 28,419] -4.9] +7.81 +17.8| 29,455] 30,127] 26,762] 27,062] +8.8| 86,344| 76,637
Electrical transmission and
distribution equipment and
industrial apparatus ........... 3,259] 3,272) 3,217] 0.4] 1.7] +4.7] 3,496) 3,415] 3,024] 3,289] +63 9,935 9,160
Electric lighting and
wiring equipment ...... .

172,425} 177,075] 175,370] -2.6) +1, +3.8) 186,096] 180,302] 162,387] 179,521 +3.7) 528,785} 500,111
140,989] 145,583] 143,296] -3.2} +1.6] +36 152,618] 146,685] 132,660] 149,108, 42.4) 431,963] 410,998
7,475] 7,321 7,222) +2.1) +14) +1.8) 7,220] 6,983) 6,371 6,355) +13.6 20,574 18,531
15,864} 15,817) 15,892] +0.3} 0.5} +5.1) 17,094) 17,009] 16,580] 15,654] +9.2 50,683} 47,213
6,173) 6,254 6,339} -13) -1.3] +2. 6,435] 6,958) 7,065) 6,135) +4.9 20,458 19,732
1,514 1,489} 1,496} +17 0.5] -2. 1,601 1,679 1,532, 1,401) +143 4,812 4,515

3,891 3,760} 3,804 1.2} -0.6) 4,476} 4,100] 3,864] 3,968] +12.8 12,440] 11,589
3,347) 3,525 3,463 +1.8) +17.5) 3,629] 3,457] 2,781 3,358 +8.1 9,867 9,204
8,746} 8,806} 9,022) -0.7 2.4] 4a 11,206] 7,904) 6,627) 10,973] 42.1 25,737} 24,589

equil ’ 1,985] 2,038} 2,182] -2.6] 6.6 -1.4) 2,146) 2,138 1,958} 2,181 -1.6 6,235 6,167
Communications equipment 6,977 7,499} 6,100] -7.0) +22.9] +41.1] 7,710) 6,908] 4,643) 7,014! +99 19,261 17,213
Electronic components . 11,360] 12,294) 11,320] -7.6)  +8.6) +24.1] 10,705} 12,407] 11,866] 9,532] +12.3 34,978} 29,173

Transportation equipment . . . . ++] 37,406} 39,213] 42,278] -4.6] -7.2{ +15] 42,895] 42,263) 39,370) 47,302 9.3) 124,528) 127,371
Aircraft, missiles,

space vehicles, and parts.
Shipbuilding and tanks . .
Instruments and related products

7,356) 9,294] 11,530}
13,249] 14,056] 13,268

-19.4) 43.3) 10,771 9,052] 9,816} 19,060) -43.5 29,639] 39,220
-50.8] -68.6] 592| 394) 557| 608] 2.6 1,543 2,850
+5.) +0.9] 14,100] 14,096} 11,933] 12,853] +9.7 40,129] 36,681

Search and navigation equipment 2,835] 3,398] 2,495 +36.2]  -6.8) 3,265) 3,528] 2,033) 2,680] 421.8] 8,826} 7,638
Measuring and controlling devices .| 3,850] 3,997] 3,901 +2.5{  -9.3) 4,228 3,966 3,570] 4.015] +53) 11,764] 11,351
Medical instruments and supplies .| 4'127] 4°14] 4's08| -8.0/ +17. 4,032] 4,190] 4204) 3,786] +65} 12,516] 11334

All other durable goods . . 18,575] 18,539] 17,778

+43) -1 19,318] 18,079} 16,065} 17,542) +10.1 53,462] 48,328

Nondurable goods industries .

146,781} 147,294] 147,840] -0.3 -0.4)  +0.9) 149,164} 144,596] 137,192] 142,449] 44.7! 430,952] 408,684
With unfilled orders

36,622] 36,012} 35,815] +1.7} +06) -1.1] 37,255] 35,560] 33,211] 35,871 +3.9] 106,026] 104,566

? Preliminary. * Revised,
" Shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-month variations.

(n) When new orders for a prior month are negative because of cancellations, the percentage change calculation is algebraically negative, even though there is a net doll:
increase from the prior month to the current month.

Note : Estimates of manufacturers’ shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling erro
which includes errors of coverage, response, and nonreporting. Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. Furthe
details on survey design, methodology, and data limitations are contained in our most recent annual benchmark publication, Current Industrial Reports: M3-1(95
"Manufacturers’ Shipments, Inventories, and Orders: 1982-1995."


Table 1. VALUE OF MANUFACTURERS’ SHIPMENTS

(Millions of dollars)

FOR INDUSTRY GROUPS

Seasonally adjusted Not seasonally adjusted’
Monthly Percent Change Monthly Percent Year to date
Industry change
Mar.) Feb. Jan. | Feb] Jan-| Dec-| Mar} Feb] Jan.| Mar. | Mar.
I9o7 | i997 | 1997] Mar.| Feb.| Jan.| 19977] 1997] 1997] 1996} 97/96] 1907 | 1996
All manufacturing industries. 321,149} 321,419} 318,498] -0.11 +0.9]  +1.0} 336,581] 319,329] 288,346] 315,096 46.8 944,256] 884,405
Manufacturing Industries
with unfilled orders ..... 2... 179,554) 178,645} 174,399] +0.51 42.4) 0.0) 191,194] 176,676] 154,638] 178,105] 473 522,508] 491,174
without defense capital goods 314,954) 314,986] 312,437] 0.0) +0.81 +1.1] 330,008] 312.870] 283'396| 308'560| 17.0 926,274] 867,123
Durable goods industries. 174862] 173,741) 170,313] +0.6  +2.0  +0.9) 188,513] 174,509] 151,247] 172,628] 49.2] st4.269 476,458
With unfilled orders on 143,426] 142,249] 138,239] +0.81 +29 ool 155,033] 140,892] 121's20] 1422131 +90 417,447) 387,345
Stone, clay, and glass products 2435) 7475) 7214 0.7] 43.6 +53] 7,227| 6.8821 6203 6.452) +120] 20319 18,199
Primary metals... .... 15,637) 15,680} 15,557] -0.3 +08) +2. 16271 16.131] 14817] 15389] 45.7] 47.219 44,601
Blast furnaces, steel mills . 6343) 6,369] 6,406] -0.4) 0.6 42.1) 6,546| 6.616] 6,228 6.218] +53|  19'390 18,464
Iron and steel foundries... || 1,403) 1,436) 1,434) 2.31 40.11 +4.) 1,439 1,490] 1353 1361] 45.7] a'282 3,938
Nonferrous and other primary
metals... 2.2... 7891) 7.875] 7.717) 40.2) 42.0 42.81 8,286] 8,025] 7,236] 78101 +61] 23,547 22,199
Fabricated metal products. .......| 17,867} 18,096] 17803] -13| +16 16 18'529 18,220] 16,384) 17,284] +7.2] 53/126] 49/557
Industrial machinery and equipment 32,885] 32,288] 32,116} +18] +05]  -1.4] 38.733 31,927) 27,158} 36,880] +5.0] 97,818] 93.908
Engines and turbines... 2... 1677] 1,633 1,707] 42.71 4.31 -0.11 1,943] 1,629 1361] 2/040} 48] a'933 5.219
Farm and garden machinery... . 1,936} 1,845) 1.884) +49) 2.1) +5.4! 2.6681 2.2131 1/690! 2468] +81] o's80 6,330
Construction, mining and
material handling equipment 3,824] 3,771) 3,677] +14] 42.64 4271] 4,024) 3,309] 3,940} +8.4) 11,604] 10,747
Metalworking machinery 3,396} 3,301] 3,273] 42.9] +09) 3,678) 3,233) 2,591) 3,341] +10.1] 9/502] 8787
Computer and office equipment ...| 9.2241 8.922] 91032] 43.4) 1 9 12,046) 7,780) 6,821} 11,341] 46.2] 26.647] 25/184
Electronic and other
electrical equipment... .. . 29.478) 28,594) 26,9471 43.1] +6.1)  -2.9] 31,600] 27,550} 23,182] 28,235] +119| 82,330 76,182
Electrical transmission and
distribution equipment and
industrial apparatus ......... . 3141) 3.171 3,171) -0.9] 0.0 +4.0) 3,387} 3,236] 2,780 3,268] 43.6) 9,403 8,994
Household appliances . . 2.105) 2,098) 2,019 +03] 43.91 -20 2318] 1.988] 1661] 2244] 433 —5'967 5,772
Electric lighting and
wiring equipment . . . . 2,071) 2,090) 2,072} -0.9] +05) -0.2) 2,232] 2,183] 1,848] 2,161] 433) 6,263] 5,984
Household audio and
video equipment .... .. 1,348} 1,336 1,305] +0.9] +24 1.2) 1.2771 1,213] 1.0381 118s] 478| 3,528 3,163
‘Communications equipment $682) 6.486) 5,859] +3.0] +10.71 -8. 7416 5.857] 4.438] G'460] 4146! 17711 15,954
Electronic components . . sgoo] 4bg8] 19.423] 46.8) 49.2} 4.5) 13,085] 11,067] 9.569 itcoza] +187] 33721] 30933
Transportation equipment . . 39,890} 39,894) 39,853] 0.0] +0.1] +3.) 43,027] 42,808) 36,206] 37'843] 4113.7] 122,041 110,233,
Motor vehicles and parts . 27.185) 27,685] 28,234 -1.8) -1.9 +81] 28,961] 30.822] 27,069] 2s'aai] 4138{ 86°85? 79,291
Aircraft, missiles,
space vehicles, and parts. 9851) 9,340) 9,145} 46.5] 42.11 -1.4) 11,067] 9,095] 7,047] 9,043] 422.4! 272091 22,358
Shipbuilding and tanks . . 794) 800) 735] -0.81 +881 -18.5]  '827] 831 S54) 840) 5] 2,212] 2'399
Instruments and related products 13,088) 13,235] 12,683] -1.1) +4.4f 0.0) 13,9941 13,092] 11,303] 13,205 460) 38380] 30260
Search and navigation equipment 2644) 2.656) 2,574 -0.5] 43.21 40.7] 2/868] 2:730| 2.251] 2650} +79] 7'a49| 9459
Measuring and controlling devices .| 3,818] 4,017] 3,649] -5.0] +101] 4.0] ‘196 3,986] 3,318] 4,180} +04] 11/500} 11,262
Medical instruments and supplies .] 4,227] 4,176| 4,102] +12) +18! 0.3) 4'saq 4,142} 3,692] 4,182] #8.71 12378] 11451
Photographic goods . veep 1366) 1944) 1,902) +11) 42.2) +64) 19461 1817] Le2if r's2i| 469] S384 5,128
All other durable goods . 18,592) 18,4791 18,140] +0.6 +15 +12] 19,139] 17,899] 15/9941 17'340| +104] 531032 47,514
Nondurable goods industries 146,287] 147,678] 148,185] -0.9] -0.3] +1.1) 148,068] 144,820] 137,099] 142,468] +3.9] 429,987 407,947
With unfilled orders . . 36,128) 36,396 36,160] -0.7| 40.7] -0.3 36,159] 35,784] 33,118] 35,8901 40.7] 105/061 103,829
Food and kindred products. 39-443) 39,242 39,472) 40.5) -0.6f +2.01 39.727] 38.116] 36423] 38221] 43.9] 114°266] 1 10,399
Meat products . : 2.448) 9,092) 8,942] +06] 41.71 0.0] 9,047] 8.810} 8.264] 8'835| 42.4] 26121 25,645
Dairy products . . S985] 4884) 5,018) 42.1) 271 40.6) S.045} 4.728] 418371 41737} +63] I4'610| 13°828
Beverages... . S805] 5,751) 5,702 +09] +09) -0.31 5.764] sis} 4760| 5/42) +51 5'677] 18.171
All other foods, exce; 1438) 17.4401 17,771) 0.0] -1.9] 45.5] 17,804 17.350] 16,5231 17317] 42.8] si'677| $0.07
Tobacco products. . . ZO1t] 2911) 3,070 43.4) -5.21 +6.0) 3,183] 2.761] 2.956] 2/852 +11.6| 8.900) 7'909
Textile mill products. | | 6.734) 6,765] 6,696, -0.5] +1.0/ +09] 7,140] 6,609] 5.709] 6'797| 45.0] 191458] 14°230
Broadwoven fabrics and
other textiles 0.2... . FASS] 4.000} 4.050} +111 41.0) 40.51 4511 4,050] 3,547] 4,242| +63] 12,108] 11,430
Paper and allied products... 13,062) 13,287] 13,313) -1.7) -0.2) +0.3) 13,178 13,347] 12.737] 13,7411 4.1] 39°26| 40's18
Pulp, paper, and
paperboard mill products... . $320] $294) 5,225 40.5] +131 -0.1] 5,363] 5.2s4! 497i] 5,499 2s] 15,588/ 16,656
Paperboard containers and boxes 3337) 3401) 3,471] -1.9] 20-02) 3,414} 3.433] 3,323] 3,6431 “63 10'170 10.677
Miscellaneous converted
Paper products ....... $405) 4592) 4.617] 4.1) 0.51 +1.) 4.401] 4,660] 4,443] 4,509] -43/ 13,504] 13,485
Chemicals and allied products 32,266] 32,610] 32,510] 1.11 +031 +1.6 33,950] 32.299 31,067) 31,402} +8.1] 97,316] 89,557
Industrial chemicals... . 16493] 16.291) 15,884) -1.2) 42.6 +03] 16,730] 16,569] 15,124] 15,628) 471] 484231 45109
Drugs, soaps, and toiletries 11,926) 12,0431 12,423) -0.9] -3.11 42.9) 123111 11,499) 12.218] 11'662] +56) 300028] 32.989
Petroleum and coal products prASO} 16.071) 16,574 -3.9 -3.0 -0.21 14.484] 15,087] 15,263] 13°652|  +61| 44'834] 38'908
Rubber and plastics products |. 42,020) 12,147] 12,097] -1.0}. +0. 42.7] 12,570] 12,268] 11.243] 12317] 421] 3o0si] 341630
All other nondurable goods. - 24,301) 24,645) 24,4531 -1.4) 40.81 -0.91 23/836] 24/333] 21,701] 23,486] +15] 40'870| 67490

* Preliminary. Revised.

Shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-1

See note at end of table 2 relating to survey error and revision.

‘month variations.