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FOR RELEASE AT 10:00 AM EST, MONDAY, MARCH 6, 2023 

MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS 

JANUARY 2023 

Release Number: CB 23-30 M3-2 (23)-01

March 6, 2023 — The U.S. Census Bureau announces the January full report on manufacturers’ shipments, 

inventories and orders:

MANUFACTURED GOODS – NEW ORDERS

JANUARY 2023 $542.8 billion -1.6%° 

DECEMBER 2022 

(revised) $551.7 billion +1.7%° 

Next release: April 4, 2023 

Data adjusted for seasonal variation but not for price changes.

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories and Orders, March 6, 2023. 

Summary

New orders for manufactured goods in January, down two of the last three months, decreased $8.9 billion 

or 1.6 percent to $542.8 billion, the U.S. Census Bureau reported today. This followed a 1.7 percent

December increase. Shipments, up following two consecutive monthly decreases, increased $3.8 billion or 

0.7 percent to $547.8 billion. This followed a 0.6 percent December decrease. Unfilled orders, up twentynine consecutive months, increased $0.3 billion or virtually unchanged to $1,157.0 billion. This followed a 

1.1 percent December increase. The unfilled orders-to-shipments ratio was 6.07, up from 6.06 in

December. Inventories, up five consecutive months, increased $0.4 billion or virtually unchanged to 

$808.3 billion. This followed a 0.4 percent December increase. The inventories-to-shipments ratio was 

1.48, down from 1.49 in December. 

New Orders

New orders for manufactured durable goods in January, down two of the last three months, decreased

$12.8 billion or 4.5 percent to $272.4 billion, unchanged from the previously published decrease. This 

followed a 5.1 percent December increase. Transportation equipment, also down two of the last three 

0.3%

1.8%

0.7%

1.8% 1.8%

-1.0%

0.2% 0.3% 0.4%

-1.9%

1.7%

-1.6%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

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

MANUFACTURERS' NEW ORDERS 2022-2023

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, March 6, 2023.
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months, drove the decrease, $14.2 billion or 13.3 percent to $92.8 billion. New orders for manufactured

nondurable goods increased $3.9 billion or 1.5 percent to $270.4 billion.

Shipments

Shipments of manufactured durable goods in January, down following sixteen consecutive monthly 

increases, decreased $0.1 billion or virtually unchanged to $277.4 billion, up from the previously published 

0.1 percent decrease. This followed a 0.4 percent December increase. Transportation equipment, down 

following ten consecutive monthly increases, drove the decrease, $1.6 billion or 1.7 percent to $92.2

billion. Shipments of manufactured nondurable goods, up following two consecutive monthly decreases, 

increased $3.9 billion or 1.5 percent to $270.4 billion. This followed a 1.7 percent December decrease. 

Petroleum and coal products, also up following two consecutive monthly decreases, led the increase, $2.9

billion or 5.1 percent to $58.8 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in January, up twenty-nine consecutive months, increased

$0.3 billion or virtually unchanged to $1,157.0 billion, unchanged from the previously published increase. 

This followed a 1.1 percent December increase. Transportation equipment, up twenty-three of the last 

twenty-four months, drove the increase, $0.7 billion or 0.1 percent to $684.6 billion.

Inventories

Inventories of manufactured durable goods in January, down following twenty-three consecutive monthly 

increases, decreased $0.3 billion or 0.1 percent to $493.3 billion, unchanged from the previously published 

decrease. This followed a 0.7 percent December increase. Transportation equipment, down following two 

consecutive monthly increases, drove the decrease, $0.3 billion or 0.2 percent to $158.3 billion. 

Inventories of manufactured nondurable goods, up following two consecutive monthly decreases, 

increased $0.7 billion or 0.2 percent to $315.0 billion. This followed a 0.1 percent December decrease. 

Food products, up seventeen of the last eighteen months, led the increase, $0.3 billion or 0.5 percent to 

$64.8 billion. By stage of fabrication, January materials and supplies increased 0.4 percent in durable 

goods and decreased 0.6 percent in nondurable goods. Work in process decreased 1.1 percent in durable 

goods and increased 2.1 percent in nondurable goods. Finished goods increased 0.6 percent in durable 

goods and 0.2 percent in nondurable goods. 

The Advance Report on durable goods for February is scheduled for release on March 24, 2023, at 8:30

a.m. EDT and the Full Report on April 4, 2023, at 10:00 a.m. EDT. View the full schedule in the Economic
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Briefing Room: <www.census.gov/economic-indicators/>. The full text and tables of this release can be 

found at <www.census.gov/m3>.

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 
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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>.

Benchmark notice

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

issued on May 12, 2023. These revisions result from

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

Manufactures (ASM) data; 

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

Manufacturers’ Unfilled Orders (M3UFO) Survey;

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

orders data;

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

previously reported data;

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

review of the seasonal adjustment models. 

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

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

revised monthly tables for January 2023 through March 2023.

RESOURCES

API

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

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

before. 

<www.census.gov/developers/>. 
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FRED Mobile App

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

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

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

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

###
Table 1. Value of Manufacturers' Shipments for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly

Industry % Change

Jan. Dec. Nov. Dec. - Nov. - Oct. - Jan. Dec. Nov. Jan. 2023/

2023p 2022r 2022 Jan. Dec. Nov. 2023p 2022r 2022 2022 2023p 2022 2022

 All manufacturing industries.................. 547,780 543,935 547,319 0.7 -0.6 -0.9 503,478 535,756 535,565 472,569 503,478 472,569 6.5

 Excluding transportation................... 455,630 450,166 455,081 1.2 -1.1 -1.3 423,416 437,416 443,529 402,658 423,416 402,658 5.2

 Excluding defense.............................. 530,654 526,734 530,721 0.7 -0.8 -0.9 489,231 516,643 517,923 459,464 489,231 459,464 6.5

 With unfilled orders............................ 190,625 190,801 190,194 -0.1 0.3 0.3 171,485 194,234 183,868 161,140 171,485 161,140 6.4

 Durable goods industries......................... 277,395 277,490 276,262 0.0 0.4 0.4 249,191 279,045 268,364 231,372 249,191 231,372 7.7

 Wood products....................................... 12,816 12,730 12,803 0.7 -0.6 0.8 11,031 11,054 11,865 10,939 11,031 10,939 0.8

 Nonmetallic mineral products.................... 12,832 12,568 12,443 2.1 1.0 -0.9 11,190 10,894 12,070 10,614 11,190 10,614 5.4

 Primary metals....................................... 20,110 19,940 20,015 0.9 -0.4 -1.2 19,723 18,074 18,664 19,450 19,723 19,450 1.4

 Iron and steel mills............................ 11,733 11,810 11,816 -0.7 -0.1 -1.4 11,582 10,634 10,978 11,333 11,582 11,333 2.2

 Aluminum and nonferrous metals.......... 6,795 6,633 6,714 2.4 -1.2 -0.7 6,644 6,154 6,318 6,790 6,644 6,790 -2.2

 Ferrous metal foundries....................... 1,582 1,497 1,485 5.7 0.8 -1.5 1,497 1,286 1,368 1,327 1,497 1,327 12.8

 Fabricated metal products....................... 36,435 36,407 36,441 0.1 -0.1 -0.3 34,196 33,681 34,911 33,487 34,196 33,487 2.1

 Machinery............................................. 38,698 38,246 38,631 1.2 -1.0 -0.5 34,660 39,040 35,562 32,528 34,660 32,528 6.6

 Farm machinery................................. 1,944 2,127 2,381 -8.6 -10.7 -0.9 1,771 1,856 1,829 2,491 1,771 2,491 -28.9

 Construction machinery..................... 4,222 3,990 3,987 5.8 0.1 0.5 3,710 3,664 3,585 2,725 3,710 2,725 36.1

 Mining, oil field, and 

 gas field machinery.......................... 1,581 1,586 1,487 -0.3 6.7 -5.7 1,494 1,794 1,477 1,226 1,494 1,226 21.9

 Industrial machinery.......................... 6,249 5,843 6,061 6.9 -3.6 -4.1 5,437 6,947 5,467 5,490 5,437 5,490 -1.0

 Photographic equipment...................... 526 541 517 -2.8 4.6 -1.0 443 612 522 429 443 429 3.3

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............ 4,920 4,843 4,820 1.6 0.5 1.3 3,979 4,485 4,222 3,643 3,979 3,643 9.2

 Metalworking machinery..................... 2,597 2,654 2,769 -2.1 -4.2 5.5 2,365 2,979 2,721 2,370 2,365 2,370 -0.2

 Turbines, generators, and other

 power transmission equipment....... 3,423 3,523 3,419 -2.8 3.0 -2.6 3,282 3,359 3,422 3,127 3,282 3,127 5.0

 Material handling equipment............... 3,696 3,618 3,606 2.2 0.3 0.3 3,449 3,727 3,467 2,958 3,449 2,958 16.6

 Computers and electronic products2

.......... 29,661 29,539 29,592 0.4 -0.2 0.1 26,886 32,807 29,830 25,317 26,886 25,317 6.2

 Computers........................................ 803 744 735 7.9 1.2 0.4 684 838 697 636 684 636 7.5

 Computer storage devices..................... 668 638 650 4.7 -1.8 -2.1 589 831 621 512 589 512 15.0

 Other peripheral equipment................ 935 890 901 5.1 -1.2 3.1 858 1,143 859 392 858 392 118.9

 Nondefense communications

 equipment.................................... 2,920 2,950 3,006 -1.0 -1.9 -1.5 2,304 4,076 2,695 2,442 2,304 2,442 -5.7

 Defense communications equipment.... 215 216 214 -0.5 0.9 0.0 182 217 238 169 182 169 7.7

 Audio and video equipment.................... 385 347 366 11.0 -5.2 2.5 362 393 539 385 362 385 -6.0

 Electronic components......................... 4,627 4,588 4,651 0.9 -1.4 1.1 4,250 4,622 4,524 4,023 4,250 4,023 5.6

 Nondefense search and navigation

 equipment...................................... 1,674 1,676 1,679 -0.1 -0.2 0.8 1,473 1,830 1,687 1,427 1,473 1,427 3.2

 Defense search and navigation

 equipment..................................... 3,284 3,329 3,286 -1.4 1.3 0.3 2,739 3,646 3,475 2,712 2,739 2,712 1.0

 Electromedical, measuring,

 and control instruments................. 8,735 8,763 8,848 -0.3 -1.0 -1.3 7,550 10,294 8,601 7,346 7,550 7,346 2.8

 Electrical equipment, appliances, 

 and components................................... 14,189 13,738 13,732 3.3 0.0 1.9 12,467 13,528 13,211 10,978 12,467 10,978 13.6

 Electric lighting equipment..................... 1,077 1,069 1,061 0.7 0.8 1.4 980 1,052 1,039 930 980 930 5.4

 Household appliances........................ 2,783 2,690 2,661 3.5 1.1 -3.3 2,271 2,897 2,643 2,060 2,271 2,060 10.2

 Electrical equipment............................ 4,237 4,045 4,094 4.7 -1.2 6.6 3,686 3,975 3,763 3,058 3,686 3,058 20.5

 Batteries........................................... 1,195 1,147 1,100 4.2 4.3 10.4 1,074 1,198 1,211 752 1,074 752 42.8

 Transportation equipment........................ 92,150 93,769 92,238 -1.7 1.7 1.3 80,062 98,340 92,036 69,911 80,062 69,911 14.5

 Automobiles..................................... 7,573 7,543 7,667 0.4 -1.6 -2.3 6,494 7,577 7,971 5,732 6,494 5,732 13.3

 Light trucks and utility vehicles.............. 24,322 24,628 24,030 -1.2 2.5 0.3 21,064 25,704 23,825 17,355 21,064 17,355 21.4

 Heavy duty trucks ............................. 2,898 2,818 2,730 2.8 3.2 2.3 2,632 2,557 2,650 1,890 2,632 1,890 39.3

 Motor vehicle bodies, parts, 

 and trailers.................................... 27,526 27,317 27,393 0.8 -0.3 0.2 26,110 24,306 26,595 24,115 26,110 24,115 8.3

 Nondefense aircraft and parts................ 13,041 14,570 14,088 -10.5 3.4 7.3 9,834 19,752 13,948 8,216 9,834 8,216 19.7

 Defense aircraft and parts.................. 5,779 5,696 5,425 1.5 5.0 0.8 4,714 6,194 5,793 4,140 4,714 4,140 13.9

 Ships and boats................................. 3,748 3,692 3,597 1.5 2.6 0.7 3,139 3,647 3,661 2,851 3,139 2,851 10.1

 Furniture and related products.................. 6,315 6,289 6,243 0.4 0.7 -0.2 5,822 6,176 6,171 5,534 5,822 5,534 5.2

 Miscellaneous durable goods................. 14,189 14,264 14,124 -0.5 1.0 0.7 13,154 15,451 14,044 12,614 13,154 12,614 4.3

 Nondurable goods industries..................... 270,385 266,445 271,057 1.5 -1.7 -2.1 254,287 256,711 267,201 241,197 254,287 241,197 5.4

 Food products....................................... 76,332 75,991 75,922 0.4 0.1 -0.1 73,607 75,166 77,574 71,159 73,607 71,159 3.4

 Grain and oilseed milling....................... 9,420 9,350 9,186 0.7 1.8 -1.2 9,290 9,044 9,289 8,485 9,290 8,485 9.5

 Dairy products.................................. 12,023 12,007 11,921 0.1 0.7 0.4 11,757 12,016 12,273 11,192 11,757 11,192 5.0

 Meat, poultry, and seafood products... 22,426 22,513 22,644 -0.4 -0.6 -0.6 21,086 21,914 22,592 21,008 21,086 21,008 0.4

 Beverage and tobacco products................ 17,165 17,371 16,864 -1.2 3.0 0.7 16,141 17,017 16,713 13,882 16,141 13,882 16.3

 Beverages......................................... 10,495 10,311 10,273 1.8 0.4 -0.1 9,471 9,957 10,122 8,795 9,471 8,795 7.7

 Tobacco............................................ 6,670 7,060 6,591 -5.5 7.1 1.8 6,670 7,060 6,591 5,087 6,670 5,087 31.1

 Textile mills........................................... 2,232 2,229 2,232 0.1 -0.1 -2.2 2,062 1,976 2,104 2,139 2,062 2,139 -3.6

 Textile products................................... 1,956 1,956 1,925 0.0 1.6 -0.9 1,774 1,776 1,826 1,789 1,774 1,789 -0.8

 Apparel................................................ 786 793 782 -0.9 1.4 3.3 744 830 882 675 744 675 10.2

 Leather and allied products...................... 518 504 492 2.8 2.4 3.6 466 476 463 335 466 335 39.1

 Paper products...................................... 16,556 16,371 16,282 1.1 0.5 0.4 16,284 15,788 15,793 15,782 16,284 15,782 3.2

 Pulp, paper, and paperboard mills....... 6,222 6,053 6,006 2.8 0.8 2.5 6,214 5,893 5,853 5,811 6,214 5,811 6.9

 Paperboard containers........................ 5,931 5,910 5,908 0.4 0.0 -1.4 5,853 5,500 5,716 5,788 5,853 5,788 1.1

 Printing................................................. 7,017 7,017 7,005 0.0 0.2 -0.5 6,672 6,938 7,118 6,117 6,672 6,117 9.1

 Petroleum and coal products.................. 58,812 55,939 61,479 5.1 -9.0 -8.1 51,781 50,379 58,611 47,305 51,781 47,305 9.5

 Petroleum refineries.......................... 53,435 50,511 56,007 5.8 -9.8 -8.8 47,380 45,784 53,387 43,346 47,380 43,346 9.3

 Chemical products..................................... 66,832 66,104 65,866 1.1 0.4 -0.6 63,809 65,883 64,969 61,481 63,809 61,481 3.8

 Pesticides, fertilizers, and other

 agricultural chemicals....................... 3,204 3,223 3,344 -0.6 -3.6 -5.2 3,053 3,286 3,018 3,086 3,053 3,086 -1.1

 Pharmaceuticals and medicines............. 23,216 23,217 22,762 0.0 2.0 1.1 22,159 23,896 23,457 19,408 22,159 19,408 14.2

 Paints, coatings, and adhesives.......... 3,778 3,820 3,798 -1.1 0.6 -0.6 3,384 3,258 3,445 3,320 3,384 3,320 1.9

 Plastics and rubber products.................. 22,179 22,170 22,208 0.0 -0.2 0.1 20,947 20,482 21,148 20,533 20,947 20,533 2.0

Year to date

p

 Preliminary 

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

1

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

data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the 

model parameters. Estimates are not adjusted for price changes. 

2

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

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 2. Value of Manufacturers' New Orders for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly

Industry % Change

Jan. Dec. Nov. Dec. - Nov. - Oct. - Jan. Dec. Nov. Jan. 2023/

2023p 2022r 2022 Jan. Dec. Nov. 2023p 2022r 2022 2022 2023p 2022 2022

All manufacturing industries2

........................ 542,787 551,694 542,460 -1.6 1.7 -1.9 504,361 553,398 526,807 483,689 504,361 483,689 4.3

 Excluding transportation2...................... 449,951 444,650 450,031 1.2 -1.2 -1.2 422,032 431,585 436,253 404,518 422,032 404,518 4.3

 Excluding defense2.............................. 524,409 534,098 524,602 -1.8 1.8 -2.2 489,654 529,099 509,248 472,497 489,654 472,497 3.6

 With unfilled orders2............................. 190,966 203,876 190,510 -6.3 7.0 -2.6 178,185 216,712 180,921 177,454 178,185 177,454 0.4

 Durable goods industries2......................... 272,402 285,249 271,403 -4.5 5.1 -1.8 250,074 296,687 259,606 242,492 250,074 242,492 3.1

 Primary metals........................................ 20,060 19,943 20,059 0.6 -0.6 -0.3 20,185 18,356 18,805 20,428 20,185 20,428 -1.2

 Iron and steel mills.............................. 11,659 11,865 11,884 -1.7 -0.2 -0.8 11,748 10,785 11,015 11,702 11,748 11,702 0.4

 Aluminum and nonferrous metals.......... 6,864 6,598 6,645 4.0 -0.7 0.2 6,926 6,214 6,367 7,256 6,926 7,256 -4.5

 Ferrous metal foundries....................... 1,537 1,480 1,530 3.9 -3.3 0.7 1,511 1,357 1,423 1,470 1,511 1,470 2.8

 Fabricated metal products........................ 36,212 36,157 36,319 0.2 -0.4 -0.2 34,960 32,588 33,793 34,853 34,960 34,853 0.3

 Machinery............................................. 38,763 38,163 38,978 1.6 -2.1 -0.6 37,091 38,111 35,794 35,724 37,091 35,724 3.8

 Construction machinery........................ 3,962 3,804 4,028 4.2 -5.6 1.8 3,979 3,666 3,721 3,357 3,979 3,357 18.5

 Mining, oil field, and

 gas field machinery.......................... 1,595 1,593 1,482 0.1 7.5 -7.3 1,508 1,801 1,472 1,268 1,508 1,268 18.9

 Industrial machinery............................ 6,504 5,956 6,234 9.2 -4.5 -1.1 6,394 6,648 5,499 6,028 6,394 6,028 6.1

 Photographic equipment....................... 526 541 559 -2.8 -3.2 5.1 459 505 454 433 459 433 6.0

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 5,121 4,968 5,036 3.1 -1.4 1.4 4,463 4,612 4,303 4,307 4,463 4,307 3.6

 Metalworking machinery....................... 2,575 2,545 2,620 1.2 -2.9 2.2 2,459 2,638 2,620 2,576 2,459 2,576 -4.5

 Turbines, generators, and other 

 power transmission equipment........... 3,260 3,542 3,376 -8.0 4.9 -5.2 3,119 3,378 3,379 3,097 3,119 3,097 0.7

 Material handling equipment.................. 3,801 3,662 3,716 3.8 -1.5 -1.0 3,677 4,069 3,514 3,391 3,677 3,391 8.4

 Computers and electronic products2

........... 24,286 24,141 24,315 0.6 -0.7 0.5 21,061 29,170 23,472 20,776 21,061 20,776 1.4

 Computers........................................ 823 740 717 11.2 3.2 -2.2 704 834 679 624 704 624 12.8

 Nondefense communications

 equipment...................................... 2,933 3,012 2,888 -2.6 4.3 1.6 2,269 4,420 2,701 2,592 2,269 2,592 -12.5

 Defense communications equipment....... 208 199 206 4.5 -3.4 -4.6 185 219 229 170 185 170 8.8

 Electronic components......................... 4,474 4,486 4,524 -0.3 -0.8 1.6 4,262 4,794 4,278 4,346 4,262 4,346 -1.9

 Nondefense search and navigation

 equipment...................................... 1,736 1,865 1,789 -6.9 4.2 5.9 1,607 1,840 1,787 1,657 1,607 1,657 -3.0

 Defense search and navigation

 equipment...................................... 3,251 3,073 3,288 5.8 -6.5 0.9 2,474 4,109 3,103 2,422 2,474 2,422 2.1

 Electromedical, measuring,

 and control instruments..................... 8,792 8,809 8,905 -0.2 -1.1 -1.3 7,673 10,506 8,593 7,597 7,673 7,597 1.0

 Electrical equipment, appliances, 

 and components................................... 14,103 13,920 13,809 1.3 0.8 1.0 13,031 13,501 13,202 11,635 13,031 11,635 12.0

 Electric lighting equipment..................... 1,060 1,129 1,141 -6.1 -1.1 3.8 963 1,094 1,137 925 963 925 4.1

 Household appliances.......................... 2,798 2,768 2,838 1.1 -2.5 -1.0 2,283 3,106 2,817 1,960 2,283 1,960 16.5

 Electrical equipment............................ 4,189 3,981 3,869 5.2 2.9 1.2 4,125 3,605 3,573 3,691 4,125 3,691 11.8

 Transportation equipment........................ 92,836 107,044 92,429 -13.3 15.8 -5.2 82,329 121,813 90,554 79,171 82,329 79,171 4.0

 Motor vehicle bodies, parts, 

 and trailers..................................... 27,522 27,172 27,369 1.3 -0.7 0.2 26,442 24,988 27,125 24,590 26,442 24,590 7.5

 Nondefense aircraft and parts3................ 12,541 27,559 13,401 -54.5 105.6 -30.7 11,163 37,979 11,935 18,496 11,163 18,496 -39.6

 Defense aircraft and parts.................... 6,218 5,896 4,908 5.5 20.1 -6.8 5,555 7,686 5,361 3,002 5,555 3,002 85.0

 Ships and boats.................................. 4,085 4,252 3,969 -3.9 7.1 22.5 3,941 4,925 3,745 2,357 3,941 2,357 67.2

 Furniture and related products................... 6,352 6,310 6,112 0.7 3.2 0.5 6,089 5,740 5,995 5,689 6,089 5,689 7.0

 Nondurable goods industries..................... 270,385 266,445 271,057 1.5 -1.7 -2.1 254,287 256,711 267,201 241,197 254,287 241,197 5.4

Year to date

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

1

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

adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual 

review of the model parameters. Estimates are not adjusted for price changes. 

2

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

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 3. Value of Manufacturers' Unfilled Orders for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly % Change

Industry January

Jan. Dec. Nov. Dec. - Nov. - Oct. - Jan. Dec. Nov. Jan. 2023/

2023p 2022r 2022 Jan. Dec. Nov. 2023p 2022r 2022 2022 2022

All manufacturing industries2...................... 1,156,981 1,156,640 1,143,565 0.0 1.1 0.0 1,159,735 1,153,035 1,130,557 1,090,915 6.3

 Excluding transportation2...................... 472,377 472,722 472,922 -0.1 0.0 0.0 470,182 465,749 466,744 463,426 1.5

 Excluding defense2

............................. 939,744 940,655 927,975 -0.1 1.4 -0.1 941,705 935,465 918,173 881,040 6.9

 Durable goods industries2........................ 1,156,981 1,156,640 1,143,565 0.0 1.1 0.0 1,159,735 1,153,035 1,130,557 1,090,915 6.3

 Primary metals........................................ 30,506 30,556 30,553 -0.2 0.0 0.1 30,522 30,060 29,778 31,223 -2.2

 Iron and steel mills............................... 16,129 16,203 16,148 -0.5 0.3 0.4 15,966 15,800 15,649 16,035 -0.4

 Aluminum and nonferrous metals............. 10,220 10,151 10,186 0.7 -0.3 -0.7 10,360 10,078 10,018 11,281 -8.2

 Ferrous metal foundries........................ 4,157 4,202 4,219 -1.1 -0.4 1.1 4,196 4,182 4,111 3,907 7.4

 Fabricated metal products......................... 117,017 117,240 117,490 -0.2 -0.2 -0.1 114,874 114,110 115,203 115,336 -0.4

 Machinery.............................................. 133,356 133,291 133,374 0.0 -0.1 0.3 133,441 131,010 131,939 128,118 4.2

 Construction machinery......................... 9,399 9,659 9,845 -2.7 -1.9 0.4 9,717 9,448 9,446 9,897 -1.8

 Mining, oil field, and

 gas field machinery.......................... 5,198 5,184 5,177 0.3 0.1 -0.1 5,198 5,184 5,177 5,109 1.7

 Industrial machinery............................. 13,249 12,994 12,881 2.0 0.9 1.4 13,370 12,413 12,712 11,455 16.7

 Photographic equipment........................ 3,155 3,155 3,155 0.0 0.0 1.3 3,128 3,112 3,219 3,157 -0.9

 Ventilation, heating, air-conditioning,

 and refrigeration equipment................ 12,652 12,451 12,326 1.6 1.0 1.8 12,468 11,984 11,857 9,941 25.4

 Metalworking machinery........................ 8,241 8,263 8,372 -0.3 -1.3 -1.7 8,122 8,028 8,369 8,600 -5.6

 Turbines, generators, and other 

 power transmission equipment............ 33,096 33,259 33,240 -0.5 0.1 -0.1 33,096 33,259 33,240 33,389 -0.9

 Material handling equipment................... 17,554 17,449 17,405 0.6 0.3 0.6 17,773 17,545 17,203 16,243 9.4

 Computers and electronic products2............. 140,026 140,067 140,149 0.0 -0.1 -0.1 140,241 140,249 139,050 139,655 0.4

 Computers......................................... 1,197 1,177 1,181 1.7 -0.3 -1.5 1,197 1,177 1,181 1,207 -0.8

 Nondefense communications

 equipment...................................... 20,668 20,655 20,593 0.1 0.3 -0.6 20,758 20,793 20,449 21,152 -1.9

 Defense communications equipment........ 283 290 307 -2.4 -5.5 -2.5 297 294 292 341 -12.9

 Electronic components.......................... 15,589 15,742 15,844 -1.0 -0.6 -0.8 15,812 15,800 15,628 16,095 -1.8

 Nondefense search and navigation

 equipment....................................... 32,645 32,583 32,394 0.2 0.6 0.3 32,635 32,501 32,491 31,321 4.2

 Defense search and navigation

 equipment....................................... 38,174 38,207 38,463 -0.1 -0.7 0.0 38,076 38,341 37,878 38,668 -1.5

 Electromedical, measuring,

 and control instruments...................... 31,470 31,413 31,367 0.2 0.1 0.2 31,466 31,343 31,131 30,871 1.9

 Electrical equipment, appliances, 

 and components.................................... 40,283 40,369 40,187 -0.2 0.5 0.2 40,224 39,660 39,687 37,458 7.4

 Electric lighting equipment..................... 2,446 2,463 2,403 -0.7 2.5 3.4 2,442 2,459 2,417 2,148 13.7

 Household appliances........................... 5,140 5,125 5,047 0.3 1.5 3.6 5,322 5,310 5,101 5,307 0.3

 Electrical equipment............................. 16,524 16,572 16,636 -0.3 -0.4 -1.3 16,487 16,048 16,418 14,846 11.1

 Transportation equipment......................... 684,604 683,918 670,643 0.1 2.0 0.0 689,553 687,286 663,813 627,489 9.9

 Motor vehicle bodies, parts, 

 and trailers...................................... 27,595 27,599 27,744 0.0 -0.5 -0.1 28,073 27,741 27,059 28,222 -0.5

 Nondefense aircraft and parts................ 465,530 466,030 453,041 -0.1 2.9 -0.2 469,022 467,693 449,466 415,613 12.9

 Defense aircraft and parts..................... 60,281 59,842 59,642 0.7 0.3 -0.9 61,142 60,301 58,809 57,420 6.5

 Ships and boats.................................. 52,095 51,758 51,198 0.7 1.1 0.7 51,818 51,016 49,738 49,113 5.5

 Furniture and related products................... 9,829 9,792 9,771 0.4 0.2 -1.3 9,520 9,253 9,689 10,359 -8.1

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

1

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

include adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of 

the latest annual review of the model parameters. Estimates are not adjusted for price changes. 

2

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

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and 

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.
Table 4. Value of Manufacturers' Inventories for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly % Change

Industry January

Jan. Dec. Nov. Dec. - Nov. - Oct. - Jan. Dec. Nov. Jan. 2023/

2023p 2022r 2022 Jan. Dec. Nov. 2023p 2022r 2022 2022 2022

 All manufacturing industries...................... 808,299 807,903 804,816 0.0 0.4 0.0 804,236 786,589 803,036 763,635 5.3

 Excluding transportation........................ 649,966 649,273 647,875 0.1 0.2 0.0 647,094 633,691 645,243 610,491 6.0

 Excluding defense............................. 781,068 780,881 777,834 0.0 0.4 0.0 777,239 759,759 776,103 737,849 5.3

 With unfilled orders............................. 396,008 396,372 392,519 -0.1 1.0 0.4 393,956 386,725 391,495 374,934 5.1

 Durable goods industries........................ 493,259 493,533 490,125 -0.1 0.7 0.2 491,135 480,663 489,497 467,923 5.0

 Wood products........................................ 14,407 14,524 14,584 -0.8 -0.4 -0.3 14,679 14,504 14,532 14,590 0.6

 Nonmetallic mineral products..................... 16,634 16,628 16,610 0.0 0.1 0.6 16,650 16,359 16,212 15,290 8.9

 Primary metals......................................... 38,437 38,464 38,256 -0.1 0.5 -0.5 38,593 38,065 37,841 38,134 1.2

 Iron and steel mills............................... 22,529 22,412 22,254 0.5 0.7 -0.8 22,768 22,241 22,052 23,280 -2.2

 Aluminum and nonferrous metals............ 13,082 13,257 13,222 -1.3 0.3 -0.4 13,005 13,089 13,053 12,260 6.1

 Ferrous metal foundries........................ 2,826 2,795 2,780 1.1 0.5 0.9 2,820 2,735 2,736 2,594 8.7

 Fabricated metal products......................... 62,349 62,373 62,378 0.0 0.0 0.0 62,283 61,200 61,474 60,977 2.1

 Machinery.............................................. 88,767 88,379 87,111 0.4 1.5 0.6 87,715 86,158 87,637 77,313 13.5

 Farm machinery.................................. 5,709 5,687 5,571 0.4 2.1 -5.8 5,815 5,688 5,619 5,329 9.1

 Construction machinery......................... 7,955 7,817 7,655 1.8 2.1 2.7 7,883 7,576 7,668 6,442 22.4

 Mining, oil field, 

 and gas field machinery.................... 6,754 6,562 6,493 2.9 1.1 1.4 6,698 6,295 6,522 5,761 16.3

 Industrial machinery............................. 11,508 11,690 11,468 -1.6 1.9 2.6 10,856 11,925 11,608 9,370 15.9

 Photographic equipment....................... 1,416 1,412 1,417 0.3 -0.4 0.8 1,425 1,357 1,447 1,370 4.0

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 8,456 8,491 8,322 -0.4 2.0 2.5 8,434 7,935 8,083 6,768 24.6

 Metalworking machinery........................ 6,964 6,880 6,761 1.2 1.8 -0.7 6,835 6,755 6,852 6,146 11.2

 Turbines, generators, and other

 power transmission equipment............ 11,104 10,945 10,677 1.5 2.5 -0.2 10,969 10,420 10,793 9,731 12.7

 Material handling equipment.................. 7,369 7,313 7,200 0.8 1.6 1.5 7,264 6,951 7,429 6,317 15.0

 Computers and electronic products2............ 53,136 53,211 53,082 -0.1 0.2 0.1 52,964 51,900 53,370 51,100 3.6

 Computers......................................... 2,086 2,116 2,140 -1.4 -1.1 0.5 1,951 2,019 2,152 1,916 1.8

 Computer storage devices.................... 766 787 831 -2.7 -5.3 -3.0 747 754 889 859 -13.0

 Other peripheral equipment................... 923 942 953 -2.0 -1.2 -1.2 917 936 989 816 12.4

 Nondefense communications

 equipment...................................... 4,872 4,912 4,798 -0.8 2.4 0.8 4,764 4,575 4,881 4,474 6.5

 Defense communications equipment........ 661 659 655 0.3 0.6 0.0 661 659 655 672 -1.6

 Audio and video equipment.................... 1,069 1,064 1,071 0.5 -0.7 -3.5 1,049 1,024 1,075 1,013 3.6

 Electronic components.......................... 9,897 10,052 10,174 -1.5 -1.2 -0.4 10,123 9,878 9,909 10,440 -3.0

 Nondefense search and navigation

 equipment...................................... 3,515 3,535 3,521 -0.6 0.4 1.1 3,517 3,453 3,514 3,234 8.8

 Defense search and navigation

 equipment....................................... 2,846 2,839 2,841 0.2 -0.1 0.3 2,839 2,756 2,817 2,854 -0.5

 Electromedical, measuring 

 and control instruments...................... 18,348 18,240 18,136 0.6 0.6 0.4 18,100 17,790 18,336 16,960 6.7

 Electrical equipment, appliances, 

 and components.................................... 23,728 23,904 23,713 -0.7 0.8 1.3 23,750 23,008 23,185 21,755 9.2

 Electric lighting equipment..................... 2,119 2,124 2,120 -0.2 0.2 0.4 2,156 2,078 2,117 2,151 0.2

 Household appliances........................... 3,133 3,299 3,209 -5.0 2.8 0.6 3,087 2,982 3,093 3,029 1.9

 Electrical equipment............................. 8,309 8,340 8,232 -0.4 1.3 2.1 8,408 8,166 8,077 7,219 16.5

 Batteries............................................ 1,635 1,637 1,634 -0.1 0.2 2.3 1,515 1,483 1,489 1,484 2.1

 Transportation equipment......................... 158,333 158,630 156,941 -0.2 1.1 0.1 157,142 152,898 157,793 153,144 2.6

 Automobiles....................................... 6,556 6,515 6,713 0.6 -2.9 1.0 6,470 6,026 6,787 6,697 -3.4

 Light trucks and utility vehicles.............. 9,652 9,590 9,782 0.6 -2.0 -2.1 9,364 8,090 10,173 8,801 6.4

 Heavy duty trucks ............................... 2,821 2,819 2,938 0.1 -4.1 -0.5 2,803 2,582 2,886 2,785 0.6

 Motor vehicle bodies, parts, 

 and trailers...................................... 32,922 32,735 32,397 0.6 1.0 0.2 33,057 31,988 31,940 31,684 4.3

 Nondefense aircraft and parts................ 75,613 76,484 74,648 -1.1 2.5 -0.2 74,965 74,168 75,464 74,618 0.5

 Defense aircraft and parts..................... 12,917 12,784 12,831 1.0 -0.4 0.5 12,876 12,688 12,873 12,754 1.0

 Ships and boats.................................. 4,677 4,764 4,762 -1.8 0.0 2.7 4,507 4,713 4,709 4,016 12.2

 Furniture and related products.................... 10,095 10,072 10,040 0.2 0.3 0.2 10,135 9,809 9,897 9,384 8.0

 Miscellaneous durable goods..................... 27,373 27,348 27,410 0.1 -0.2 -0.2 27,224 26,762 27,556 26,236 3.8

 Nondurable goods industries...................... 315,040 314,370 314,691 0.2 -0.1 -0.2 313,101 305,926 313,539 295,712 5.9

 Food products........................................ 64,777 64,474 64,177 0.5 0.5 0.4 64,980 64,423 65,666 61,122 6.3

 Grain and oilseed milling........................ 7,861 7,828 7,848 0.4 -0.3 0.5 8,065 7,813 7,866 7,477 7.9

 Dairy products.................................... 9,737 9,671 9,567 0.7 1.1 1.1 9,543 9,229 9,145 8,654 10.3

 Meat, poultry, and seafood products....... 10,974 10,964 10,999 0.1 -0.3 -0.7 10,800 10,667 11,062 10,189 6.0

 Beverage and tobacco products................ 28,519 28,367 28,415 0.5 -0.2 -0.2 28,860 28,198 28,789 27,957 3.2

 Beverages......................................... 24,974 24,789 24,796 0.7 0.0 -0.1 25,130 24,481 24,997 24,102 4.3

 Tobacco............................................ 3,545 3,578 3,619 -0.9 -1.1 -1.0 3,730 3,717 3,792 3,855 -3.2

 Textile mills............................................ 3,598 3,610 3,673 -0.3 -1.7 1.0 3,621 3,578 3,639 3,393 6.7

 Textile products...................................... 4,179 4,224 4,283 -1.1 -1.4 -0.8 4,236 4,197 4,296 4,226 0.2

 Apparel................................................. 2,461 2,468 2,459 -0.3 0.4 2.3 2,383 2,309 2,388 1,953 22.0

 Leather and allied products....................... 1,205 1,232 1,250 -2.2 -1.4 -0.6 1,203 1,199 1,231 942 27.7

 Paper products....................................... 16,592 16,619 16,698 -0.2 -0.5 -0.2 16,668 16,400 16,435 16,231 2.7

 Pulp, paper, and paperboard mills........... 5,064 5,066 5,062 0.0 0.1 0.0 5,080 5,046 4,996 4,903 3.6

 Paperboard containers......................... 6,194 6,165 6,192 0.5 -0.4 0.3 6,277 6,123 6,083 5,922 6.0

 Printing.................................................. 6,550 6,521 6,481 0.4 0.6 0.1 6,478 6,352 6,528 6,162 5.1

 Petroleum and coal products..................... 51,549 51,270 51,188 0.5 0.2 -0.2 49,185 46,573 49,174 42,086 16.9

 Petroleum refineries............................. 44,496 44,281 44,144 0.5 0.3 -0.4 42,102 39,727 42,308 35,844 17.5

 Chemical products..................................... 104,006 103,902 104,188 0.1 -0.3 -0.6 103,790 101,617 103,691 101,021 2.7

 Pesticides, fertilizers, and other

 agricultural chemicals........................ 6,517 6,663 6,827 -2.2 -2.4 -0.3 6,884 6,695 6,756 6,343 8.5

 Pharmaceuticals and medicines.............. 43,830 43,181 42,890 1.5 0.7 -0.5 43,751 41,967 42,897 43,106 1.5

 Paints, coatings, and adhesives.............. 5,252 5,243 5,296 0.2 -1.0 0.0 5,251 5,041 5,153 4,519 16.2

 Plastics and rubber products..................... 31,604 31,683 31,879 -0.2 -0.6 -0.4 31,697 31,080 31,702 30,619 3.5

p Preliminary 

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

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

non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. 

Estimates are not adjusted for price changes. 

2

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

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 5. Value of Manufacturers' Shipments, New Orders, Unfilled Orders, and Total Inventories for 

 Topical Series1, 2

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly Year to date

Industry % Change6

Jan. Dec. Nov. Dec. - Nov. - Oct. - Jan. Dec. Nov. Jan. 2023/

2023p 2022r 2022 Jan. Dec. Nov. 2023p 2022r 2022 2022 2023p 2022 2022

SHIPMENTS

 All manufacturing industries......................... 547,780 543,935 547,319 0.7 -0.6 -0.9 503,478 535,756 535,565 472,569 503,478 472,569 6.5

 Construction materials and supplies....... 61,518 61,231 61,295 0.5 -0.1 0.0 54,319 54,132 57,972 53,137 54,319 53,137 2.2

 Information technology......................... 25,123 24,963 25,099 0.6 -0.5 -0.6 21,718 28,367 24,572 20,707 21,718 20,707 4.9

 Computers and related products........... 2,406 2,272 2,286 5.9 -0.6 0.7 2,131 2,812 2,177 1,540 2,131 1,540 38.4

 Motor vehicle and parts......................... 62,319 62,306 61,820 0.0 0.8 0.0 56,300 60,144 61,041 49,092 56,300 49,092 14.7

 Capital goods...................................... 99,225 100,220 99,394 -1.0 0.8 1.0 85,981 111,816 96,454 79,133 85,981 79,133 8.7

 Nondefense capital goods3.................. 84,355 85,164 85,075 -0.9 0.1 1.1 73,548 94,985 81,198 67,587 73,548 67,587 8.8

 Excluding aircraft............................. 75,471 74,649 75,073 1.1 -0.6 -0.1 67,790 79,413 71,290 62,879 67,790 62,879 7.8

 Defense capital goods4........................ 14,870 15,056 14,319 -1.2 5.1 0.3 12,433 16,831 15,256 11,546 12,433 11,546 7.7

 Consumer goods.................................. 233,413 230,275 234,054 1.4 -1.6 -2.1 216,084 225,897 233,211 198,389 216,084 198,389 8.9

 Consumer durable goods..................... 46,753 46,897 46,365 -0.3 1.1 -0.2 40,793 48,171 46,358 35,665 40,793 35,665 14.4

 Consumer nondurable goods................ 186,660 183,378 187,689 1.8 -2.3 -2.6 175,291 177,726 186,853 162,724 175,291 162,724 7.7

 All manufacturing industries5...................... 542,787 551,694 542,460 -1.6 1.7 -1.9 504,361 553,398 526,807 483,689 504,361 483,689 4.3

 Construction materials and supplies....... 61,517 61,044 61,427 0.8 -0.6 -0.1 55,139 53,390 57,252 54,557 55,139 54,557 1.1

 Information technology......................... 25,199 25,091 25,211 0.4 -0.5 0.2 21,844 29,379 24,112 21,170 21,844 21,170 3.2

 Computers and related products........... 2,426 2,268 2,268 7.0 0.0 -0.1 2,151 2,808 2,159 1,528 2,151 1,528 40.8

 Motor vehicle and parts......................... 62,315 62,161 61,796 0.2 0.6 0.0 56,632 60,826 61,571 49,567 56,632 49,567 14.3

 Capital goods...................................... 99,722 114,303 99,694 -12.8 14.7 -4.6 90,179 133,152 93,752 91,933 90,179 91,933 -1.9

 Nondefense capital goods3.................. 83,955 99,115 84,311 -15.3 17.6 -6.6 77,728 112,019 78,872 82,001 77,728 82,001 -5.2

 Excluding aircraft............................. 75,376 74,768 74,921 0.8 -0.2 -0.2 70,739 78,376 70,998 67,042 70,739 67,042 5.5

 Defense capital goods4........................ 15,767 15,188 15,383 3.8 -1.3 8.2 12,451 21,133 14,880 9,932 12,451 9,932 25.4

 Consumer goods.................................. 233,379 230,384 234,166 1.3 -1.6 -2.1 216,182 225,891 233,325 198,433 216,182 198,433 8.9

 Consumer durable goods..................... 46,719 47,006 46,477 -0.6 1.1 0.0 40,891 48,165 46,472 35,709 40,891 35,709 14.5

 Consumer nondurable goods.............. 186,660 183,378 187,689 1.8 -2.3 -2.6 175,291 177,726 186,853 162,724 175,291 162,724 7.7

 All manufacturing industries5...................... 1,156,981 1,156,640 1,143,565 0.0 1.1 0.0 1,159,735 1,153,035 1,130,557 1,090,915 (X) (X) 6.3

 Construction materials and supplies....... 89,609 89,610 89,797 0.0 -0.2 0.1 87,680 86,860 87,602 86,281 (X) (X) 1.6

 Information technology......................... 143,765 143,689 143,561 0.1 0.1 0.1 143,530 143,404 142,392 141,874 (X) (X) 1.2

 Computers and related products........... 1,197 1,177 1,181 1.7 -0.3 -1.5 1,197 1,177 1,181 1,207 (X) (X) -0.8

 Motor vehicle and parts......................... 27,595 27,599 27,744 0.0 -0.5 -0.1 28,073 27,741 27,059 28,222 (X) (X) -0.5

 Capital goods...................................... 853,310 852,813 838,730 0.1 1.7 0.0 856,284 852,086 830,750 792,971 (X) (X) 8.0

 Nondefense capital goods3.................. 664,139 664,539 650,588 -0.1 2.1 -0.1 666,733 662,553 645,519 606,042 (X) (X) 10.0

 Excluding aircraft............................. 267,286 267,381 267,262 0.0 0.0 -0.1 267,067 264,118 265,155 260,457 (X) (X) 2.5

 Defense capital goods4........................ 189,171 188,274 188,142 0.5 0.1 0.6 189,551 189,533 185,231 186,929 (X) (X) 1.4

 Consumer goods.................................. 10,948 10,982 10,873 -0.3 1.0 1.0 11,062 10,964 10,970 11,539 (X) (X) -4.1

 Consumer durable goods..................... 10,948 10,982 10,873 -0.3 1.0 1.0 11,062 10,964 10,970 11,539 (X) (X) -4.1 

 All manufacturing industries....................... 808,299 807,903 804,816 0.0 0.4 0.0 804,236 786,589 803,036 763,635 (X) (X) 5.3

 Construction materials and supplies....... 87,119 87,333 87,274 -0.2 0.1 0.2 87,472 85,620 85,776 83,778 (X) (X) 4.4

 Information technology......................... 45,153 45,127 44,997 0.1 0.3 0.4 44,681 43,744 45,289 42,157 (X) (X) 6.0

 Computers and related products........... 3,775 3,845 3,924 -1.8 -2.0 -0.7 3,615 3,709 4,030 3,591 (X) (X) 0.7

 Motor vehicle and parts......................... 51,951 51,659 51,830 0.6 -0.3 -0.2 51,694 48,686 51,786 49,967 (X) (X) 3.5

 Capital goods...................................... 241,824 241,980 238,950 -0.1 1.3 0.4 239,280 235,623 240,499 224,522 (X) (X) 6.6

 Nondefense capital goods3.................. 218,604 218,964 215,966 -0.2 1.4 0.2 216,253 212,703 217,606 202,563 (X) (X) 6.8

 Excluding aircraft............................. 153,765 153,211 151,999 0.4 0.8 0.5 152,122 149,192 152,756 138,463 (X) (X) 9.9

 Defense capital goods4........................ 23,220 23,016 22,984 0.9 0.1 1.8 23,027 22,920 22,893 21,959 (X) (X) 4.9

 Consumer goods.................................. 246,757 245,651 245,495 0.5 0.1 -0.1 244,421 236,445 245,760 230,017 (X) (X) 6.3

 Consumer durable goods..................... 43,048 43,167 43,499 -0.3 -0.8 -0.5 42,648 40,331 43,910 41,087 (X) (X) 3.8

 Consumer nondurable goods................ 203,709 202,484 201,996 0.6 0.2 -0.1 201,773 196,114 201,850 188,930 (X) (X) 6.8

NEW ORDERS 

UNFILLED ORDERS 

TOTAL INVENTORIES 

X

 Not Applicable 

p

 Preliminary 

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

1

 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for noncalendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates 

are not adjusted for price changes. 

2 Topical series are regroupings of the separate industry categories. 

3

 Nondefense capital goods industries include: small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry, and other machinery; photographic equipment; 

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

communications equipment; search and navigation equipment; electromedical, measuring, and control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and 

boats; office and institutional furniture; and medical equipment and supplies. 

4

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

5 Estimates and percent changes exclude semiconductor industry data. 

6

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

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 6. Value of Manufacturers' Inventories, by Stage of Fabrication, by Industry Group1 

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly % Change

Industry January

Jan. Dec. Nov. Dec. - Nov. - Oct. - Jan. Dec. Nov. Jan. 2023/

2023p 2022r 2022 Jan. Dec. Nov. 2023p 2022r 2022 2022 2022

MATERIALS AND SUPPLIES

 All manufacturing industries....................... 297,380 297,263 296,147 0.0 0.4 -0.3 296,627 293,287 294,103 276,564 7.3

 Durable goods industries.......................... 183,674 182,856 181,707 0.4 0.6 0.1 183,363 180,819 180,992 170,443 7.6

 Wood products................................... 6,476 6,409 6,372 1.0 0.6 -0.9 6,621 6,530 6,471 6,328 4.6

 Nonmetallic mineral products................. 7,501 7,404 7,342 1.3 0.8 0.6 7,481 7,350 7,270 6,526 14.6

 Primary metals.................................... 13,759 13,751 13,747 0.1 0.0 -2.4 13,806 13,841 13,792 13,179 4.8

 Fabricated metal products.......................... 24,692 24,758 24,875 -0.3 -0.5 -0.6 24,755 24,626 24,553 25,416 -2.6

 Machinery.......................................... 38,827 38,293 37,864 1.4 1.1 0.4 38,359 37,653 37,831 33,121 15.8

 Computers and electronic products........ 25,878 25,667 25,529 0.8 0.5 0.6 25,752 25,235 25,613 23,401 10.0

 Electrical equipment, appliances,

 and components............................... 11,427 11,514 11,313 -0.8 1.8 2.3 11,458 11,183 11,071 10,094 13.5

 Transportation equipment..................... 41,107 41,281 40,864 -0.4 1.0 0.2 41,097 40,819 40,698 39,227 4.8

 Furniture and related products............... 4,967 4,892 4,875 1.5 0.3 1.6 5,018 4,752 4,724 4,557 10.1

 Miscellaneous products......................... 9,040 8,887 8,926 1.7 -0.4 -0.7 9,016 8,830 8,969 8,594 4.9

 Nondurable goods industries...................... 113,706 114,407 114,440 -0.6 0.0 -0.8 113,264 112,468 113,111 106,121 6.7

 Food products.................................... 24,522 24,386 24,437 0.6 -0.2 -0.3 24,671 24,526 24,753 23,620 4.4

 Beverage and tobacco products........................ 5,992 5,996 5,952 -0.1 0.7 0.8 6,257 6,189 6,078 6,430 -2.7

 Textiles.............................................. 1,417 1,413 1,433 0.3 -1.4 -0.8 1,415 1,410 1,420 1,335 6.0

 Textile products................................... 1,536 1,537 1,552 -0.1 -1.0 -0.8 1,557 1,534 1,554 1,493 4.3

 Apparel............................................. 713 716 727 -0.4 -1.5 -1.1 701 687 710 664 5.6

 Leather and allied products.................... 387 391 393 -1.0 -0.5 -1.3 386 384 384 325 18.8

 Paper products.................................... 8,772 8,775 8,810 0.0 -0.4 -0.3 8,835 8,729 8,736 8,402 5.2

 Printing ............................................. 3,481 3,471 3,446 0.3 0.7 0.2 3,462 3,435 3,464 3,200 8.2

 Petroleum and coal products................. 17,066 17,675 17,211 -3.4 2.7 -3.4 16,104 15,996 15,964 12,737 26.4

 Chemical products................................ 35,841 36,158 36,423 -0.9 -0.7 -0.5 35,826 35,751 36,091 34,353 4.3

 Plastics and rubber products.................. 13,979 13,889 14,056 0.6 -1.2 -0.3 14,050 13,827 13,957 13,562 3.6

WORK IN PROCESS

 All manufacturing industries....................... 228,023 228,774 226,257 -0.3 1.1 0.7 225,554 221,953 227,164 216,731 4.1

 Durable goods industries.......................... 173,338 175,225 172,871 -1.1 1.4 0.5 171,626 169,652 173,123 167,590 2.4

 Wood products................................... 1,766 2,033 2,079 -13.1 -2.2 -1.4 1,809 2,013 2,066 2,146 -15.7

 Nonmetallic mineral products................. 1,516 1,531 1,519 -1.0 0.8 0.7 1,524 1,477 1,458 1,501 1.5

 Primary metals.................................... 12,819 12,937 12,688 -0.9 2.0 0.8 12,626 12,354 12,468 12,524 0.8

 Fabricated metal products.......................... 15,374 15,176 15,065 1.3 0.7 0.7 15,298 14,689 14,938 14,253 7.3

 Machinery.......................................... 23,990 24,613 24,045 -2.5 2.4 1.2 23,609 23,528 24,292 21,744 8.6

 Computers and electronic products........ 12,910 13,072 13,253 -1.2 -1.4 -0.8 13,031 12,736 13,148 14,105 -7.6

 Electrical equipment, appliances,

 and components............................... 4,296 4,369 4,352 -1.7 0.4 0.8 4,241 4,213 4,257 3,985 6.4

 Transportation equipment..................... 94,531 95,284 93,803 -0.8 1.6 0.5 93,412 92,643 94,405 91,746 1.8

 Furniture and related products............... 1,408 1,413 1,404 -0.4 0.6 -0.6 1,406 1,399 1,431 1,302 8.0

 Miscellaneous products......................... 4,728 4,797 4,663 -1.4 2.9 0.7 4,670 4,600 4,660 4,284 9.0

 Nondurable goods industries...................... 54,685 53,549 53,386 2.1 0.3 1.1 53,928 52,301 54,041 49,141 9.7

 Food products.................................... 5,930 5,867 5,862 1.1 0.1 -1.8 6,241 6,289 6,548 6,175 1.1

 Beverage and tobacco products........................ 8,915 8,877 8,866 0.4 0.1 0.0 9,167 9,176 9,177 8,911 2.9

 Textiles.............................................. 601 611 613 -1.6 -0.3 0.8 599 592 610 613 -2.3

 Textile products................................... 450 453 458 -0.7 -1.1 0.7 455 445 459 461 -1.3

 Apparel............................................. 287 291 291 -1.4 0.0 1.7 278 270 282 264 5.3

 Leather and allied products.................... 114 114 117 0.0 -2.6 -1.7 116 111 116 120 -3.3

 Paper products.................................... 1,418 1,418 1,435 0.0 -1.2 0.6 1,408 1,377 1,414 1,416 -0.6

 Printing ............................................. 1,183 1,184 1,178 -0.1 0.5 -0.9 1,152 1,121 1,201 1,197 -3.8

 Petroleum and coal products................. 15,659 15,442 14,902 1.4 3.6 2.3 14,524 13,942 14,336 11,260 29.0

 Chemical products................................ 16,680 15,820 16,239 5.4 -2.6 2.1 16,551 15,596 16,460 15,236 8.6

 Plastics and rubber products.................. 3,448 3,472 3,425 -0.7 1.4 -0.6 3,437 3,382 3,438 3,488 -1.5

FINISHED GOODS

 All manufacturing industries....................... 282,896 281,866 282,412 0.4 -0.2 -0.2 282,055 271,349 281,769 270,340 4.3

 Durable goods industries.......................... 136,247 135,452 135,547 0.6 -0.1 -0.2 136,146 130,192 135,382 129,890 4.8

 Wood products................................... 6,165 6,082 6,133 1.4 -0.8 0.7 6,249 5,961 5,995 6,116 2.2

 Nonmetallic mineral products................. 7,617 7,693 7,749 -1.0 -0.7 0.6 7,645 7,532 7,484 7,263 5.3

 Primary metals.................................... 11,859 11,776 11,821 0.7 -0.4 0.3 12,161 11,870 11,581 12,431 -2.2

 Fabricated metal products.......................... 22,283 22,439 22,438 -0.7 0.0 0.3 22,230 21,885 21,983 21,308 4.3

 Machinery.......................................... 25,950 25,473 25,202 1.9 1.1 0.4 25,747 24,977 25,514 22,448 14.7

 Computers and electronic products........ 14,348 14,472 14,300 -0.9 1.2 0.0 14,181 13,929 14,609 13,594 4.3

 Electrical equipment, appliances,

 and components............................... 8,005 8,021 8,048 -0.2 -0.3 0.1 8,051 7,612 7,857 7,676 4.9

 Transportation equipment..................... 22,695 22,065 22,274 2.9 -0.9 -1.9 22,633 19,436 22,690 22,171 2.1

 Furniture and related products............... 3,720 3,767 3,761 -1.2 0.2 -1.4 3,711 3,658 3,742 3,525 5.3

 Miscellaneous products......................... 13,605 13,664 13,821 -0.4 -1.1 -0.2 13,538 13,332 13,927 13,358 1.3

 Nondurable goods industries...................... 146,649 146,414 146,865 0.2 -0.3 -0.2 145,909 141,157 146,387 140,450 3.9

 Food products.................................... 34,325 34,221 33,878 0.3 1.0 1.3 34,068 33,608 34,365 31,327 8.7

 Beverage and tobacco products........................ 13,612 13,494 13,597 0.9 -0.8 -0.8 13,436 12,833 13,534 12,616 6.5

 Textiles.............................................. 1,580 1,586 1,627 -0.4 -2.5 2.7 1,607 1,576 1,609 1,445 11.2

 Textile products................................... 2,193 2,234 2,273 -1.8 -1.7 -1.1 2,224 2,218 2,283 2,272 -2.1

 Apparel............................................. 1,461 1,461 1,441 0.0 1.4 4.3 1,404 1,352 1,396 1,025 37.0

 Leather and allied products.................... 704 727 740 -3.2 -1.8 -0.1 701 704 731 497 41.0

 Paper products.................................... 6,402 6,426 6,453 -0.4 -0.4 -0.3 6,425 6,294 6,285 6,413 0.2

 Printing ............................................. 1,886 1,866 1,857 1.1 0.5 0.8 1,864 1,796 1,863 1,765 5.6

 Petroleum and coal products................. 18,824 18,153 19,075 3.7 -4.8 1.0 18,557 16,635 18,874 18,089 2.6

 Chemical products................................ 51,485 51,924 51,526 -0.8 0.8 -1.5 51,413 50,270 51,140 51,432 0.0

 Plastics and rubber products.................. 14,177 14,322 14,398 -1.0 -0.5 -0.4 14,210 13,871 14,307 13,569 4.7

p

 Preliminary 

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

1

 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for noncalendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. 

Estimates are not adjusted for price changes. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.
Table 7. Ratios of Manufacturers' Inventories to Shipments and Unfilled Orders 

 to Shipments, by Industry Group 1

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

Inventory/Shipments ratio Unfilled Orders/Shipments ratio2

Industry Jan Dec Nov Oct Jan Dec Nov Oct

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

All manufacturing industries3

.................................... 1.48 1.49 1.47 1.46 (X) (X) (X) (X)

Durable goods industries3

........................................ 1.78 1.78 1.77 1.78 6.07 6.06 6.01 6.03

 Wood products........................................................... 1.12 1.14 1.14 1.15 (X) (X) (X) (X)

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

 Primary metals............................................................ 1.91 1.93 1.91 1.90 1.52 1.53 1.53 1.51

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

 Machinery..................................................................... 2.29 2.31 2.25 2.23 3.73 3.79 3.78 3.75

 Computers and electronic products3

................... 1.79 1.80 1.79 1.80 6.29 6.29 6.25 6.23

 Electrical equipment, appliances,

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

 Transportation equipment..................................... 1.72 1.69 1.70 1.72 11.94 11.64 11.60 11.84

 Furniture and related products............................ 1.60 1.60 1.61 1.60 1.77 1.77 1.78 1.79

 Miscellaneous products.......................................... 1.93 1.92 1.94 1.96 (X) (X) (X) (X)

Nondurable goods industries................................... 1.17 1.18 1.16 1.14 (X) (X) (X) (X)

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

 Beverage and tobacco products........................... 1.66 1.63 1.68 1.70 (X) (X) (X) (X)

 Textiles.......................................................................... 1.61 1.62 1.65 1.59 (X) (X) (X) (X)

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

 Apparel........................................................................ 3.13 3.11 3.14 3.17 (X) (X) (X) (X)

 Leather and allied products................................ 2.33 2.44 2.54 2.65 (X) (X) (X) (X)

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

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

 Petroleum and coal products............................... 0.88 0.92 0.83 0.77 (X) (X) (X) (X)

 Chemical products................................................... 1.56 1.57 1.58 1.58 (X) (X) (X) (X)

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

Jan3 Jan3 Jan3 Jan3

Industry 2022- 2022- 2022- 2022-

Jan2 Dec Jan2 Dec Jan2 Dec Jan2 Dec

2023 2022 2023 2022 2023 2022 2023 2022

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

Durable goods industries....................... 0.1 0.1 0.0 0.3 0.0 0.1 0.0 0.1

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

 Nonmetallic mineral products.............. (X) 0.5 (X) (NA) (X) (NA) (X) 0.2

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

 Fabricated metal products.................... 0.1 0.2 0.1 0.3 -0.1 0.1 0.1 0.1

 Machinery...................................................... 0.0 0.3 0.0 0.4 -0.1 0.1 0.0 0.2

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

 Electrical equipment, appliances,

 and components..................................... 0.4 0.4 0.7 0.7 0.2 0.2 0.2 0.2

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

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

 Miscellaneous products.......................... (X) 0.4 (X) 0.5 (X) 0.2 (X) 0.1

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

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

 Beverage and tobacco products............ (X) 0.4 (X) (NA) (X) (NA) (X) 0.1

 Textiles.......................................................... (X) 0.5 (X) (NA) (X) (NA) (X) 0.3

 Textile products......................................... (X) 0.5 (X) (NA) (X) (NA) (X) 0.3

 Apparel......................................................... (X) 0.7 (X) (NA) (X) (NA) (X) 0.8

 Leather and allied products.................. (X) 1.0 (X) (NA) (X) (NA) (X) 0.8

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

 Printing.......................................................... (X) 0.7 (X) (NA) (X) (NA) (X) 0.4

 Petroleum and coal products............... (X) 1.4 (X) (NA) (X) (NA) (X) 0.6

 Chemical products................................... (X) 0.3 (X) (NA) (X) (NA) (X) 0.2

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

X

 Not Applicable 

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

2

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

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

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

and miscellaneous furniture. 

3

 Unfilled orders to shipments ratio excludes semiconductor manufacturing. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is 

nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey panel is not a probability sample, estimates of 

sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information on data 

sources and methodology can be found on our website at <www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 

X Not Applicable 

NA Not Available 

1

 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the 

end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for non-calendar reporters. 

Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal 

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

2

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

3

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

monthly averages are the simple averages of the absolute values of the differences for the months specified. The advance to final percent 

change revisions for the durable goods industries are shown in the advance report for the month. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey 

error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey panel is not a probability sample, 

estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 6, 2023. Information 

on data sources and methodology can be found on our website at 

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

Table 8. Revisions to Previously Published Monthly Percent Changes 1

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

Shipments New Orders Unfilled Orders Inventories