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FOR RELEASE AT 10:00 AM EST, TUESDAY, MARCH 5, 2024 

MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS 

JANUARY 2024 

Release Number: CB 24-26 M3-2 (24)-01

March 5, 2024 — The U.S. Census Bureau announces the January full report on manufacturers’ shipments, 

inventories and orders:

MANUFACTURED GOODS – NEW ORDERS

JANUARY 2024 $569.7 billion -3.6%°

DECEMBER 2023 

(revised) $591.2 billion -0.3%°

Next release: April 2, 2024

Data adjusted for seasonal variation but not for price changes. Statistical significance is not 

measurable for this survey. The Manufacturers' Shipments, Inventories, and Orders estimates are 

not based on a probability sample, so the sampling error of these estimates cannot be measured, 

nor can the confidence intervals be computed.

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories and Orders, March 5, 2024. 

Summary

New orders for manufactured goods in January, down three of the last four months, decreased $21.5

billion or 3.6 percent to $569.7 billion, the U.S. Census Bureau reported today. This followed a 0.3 percent

December decrease. Shipments, down four of the last five months, decreased $5.7 billion or 1.0 percent

to $572.3 billion. This followed a 0.5 percent December decrease. Unfilled orders, up thirteen of the last 

fourteen months, increased $2.1 billion or 0.2 percent to $1,395.1 billion. This followed a 1.3 percent

December increase. The unfilled orders-to-shipments ratio was 7.18, up from 7.10 in December. 

Inventories, down two consecutive months, decreased $0.8 billion or 0.1 percent to $855.8 billion. This 

followed a virtually unchanged December decrease. The inventories-to-shipments ratio was 1.50, up from 

1.48 in December. 

New Orders

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

$18.1 billion or 6.2 percent to $276.3 billion, down from the previously published 6.1 percent decrease. 

This followed a 0.3 percent December decrease. Transportation equipment, also down three of the last 

-1.7%

0.6% 0.3% 0.4%

2.3%

-2.1%

1.0%

2.3%

-3.4%

2.6%

-0.3%

-3.6%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24

MANUFACTURERS' NEW ORDERS 2023-2024

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, March 5, 2024.
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four months, led the decrease, $17.4 billion or 16.2 percent to $89.8 billion. New orders for manufactured

nondurable goods decreased $3.3 billion or 1.1 percent to $293.4 billion. 

Shipments

Shipments of manufactured durable goods in January, down four of the last five months, decreased $2.4

billion or 0.9 percent to $278.9 billion, unchanged from the previously published decrease. This followed a

0.6 percent December decrease. Transportation equipment, also down four of the last five months, drove

the decrease, $2.9 billion or 3.2 percent to $86.3 billion. Shipments of manufactured nondurable goods, 

down four consecutive months, decreased $3.3 billion or 1.1 percent to $293.4 billion. This followed a 0.3 

percent December decrease. Petroleum and coal products, also down four consecutive months, led the 

decrease, $2.5 billion or 3.8 percent to $63.1 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in January, up thirteen of the last fourteen months, 

increased $2.1 billion or 0.2 percent to $1,395.1 billion, unchanged from the previously published increase. 

This followed a 1.3 percent December increase. Transportation equipment, also up thirteen of the last 

fourteen months, drove the increase, $3.4 billion or 0.4 percent to $899.7 billion.

Inventories

Inventories of manufactured durable goods in January, up six consecutive months, increased $1.1 billion or 

0.2 percent to $527.4 billion, unchanged from the previously published increase. This followed a 0.2 

percent December increase. Transportation equipment, also up six consecutive months, drove the 

increase, $1.2 billion or 0.7 percent to $169.0 billion. Inventories of manufactured nondurable goods,

down four consecutive months, decreased $1.9 billion or 0.6 percent to $328.4 billion. This followed a 0.4 

percent December decrease. Petroleum and coal products, also down four consecutive months, led the 

decrease, $1.2 billion or 2.5 percent to $47.2 billion. By stage of fabrication, January materials and 

supplies increased 0.2 percent in durable goods and decreased 0.8 percent in nondurable goods. Work in 

process increased 0.3 percent in durable goods and 0.7 percent in nondurable goods. Finished goods were 

virtually unchanged in durable goods and decreased 0.9 percent in nondurable goods. 

The Advance Report on durable goods for February is scheduled for release on March 26, 2024, at 8:30

a.m. EDT and the Full Report on April 2, 2024, at 10:00 a.m. EDT. View the full schedule in the Economic

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

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

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

exclude data for semiconductor manufacturing. 

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

decrease.

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

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

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

Description of the survey 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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sources. The use of company or divisional reports to estimate the monthly change for establishments is 

one source of nonsampling error. The use of primarily large companies to represent the month-to-month 

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

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

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

Additional survey documentation can be found on our web site: 

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

Notice of Revisions and Changes Due to Updated Seasonal Adjustment Models:

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

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

containing revised seasonally adjusted data for January through March of 2024, and historical data not 

seasonally adjusted will be unchanged. These revisions to the historical seasonally adjusted data will be 

based on the results of the recent annual review of the seasonal adjustment models. These results of the 

annual seasonal review will be used to produce seasonally adjusted data from the Manufacturers’ 

Shipments, Inventories, and Orders Survey, beginning with the April 2024 Advance Report on Durable 

Goods scheduled for release on May 24, 2024, and the Full Report scheduled for release on June 4, 2024. 

Please call M3 staff on (301) 763-4832 with any questions.

RESOURCES

API 

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

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

before. 

<www.census.gov/developers/>. 

FRED Mobile App

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

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

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

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

###
Table 1. 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. 2024/

2024p 2023r 2023 Jan. Dec. Nov. 2024p 2023r 2023 2023 2024p 2023 2023

 All manufacturing industries.................. 572,320 578,048 580,730 -1.0 -0.5 0.5 538,435 561,939 568,342 540,816 538,435 540,816 -0.4

 Excluding transportation................... 485,986 488,827 490,476 -0.6 -0.3 0.1 460,621 471,618 478,225 463,539 460,621 463,539 -0.6

 Excluding defense.............................. 555,926 562,019 564,287 -1.1 -0.4 0.5 524,571 544,453 550,655 528,057 524,571 528,057 -0.7

 With unfilled orders............................ 194,341 196,328 197,650 -1.0 -0.7 0.6 179,715 194,076 191,535 174,986 179,715 174,986 2.7

 Durable goods industries......................... 278,903 281,317 283,029 -0.9 -0.6 1.0 256,979 275,582 275,664 253,017 256,979 253,017 1.6

 Wood products....................................... 13,421 13,287 13,299 1.0 -0.1 0.0 11,675 11,473 12,363 11,612 11,675 11,612 0.5

 Nonmetallic mineral products.................... 12,925 13,113 13,314 -1.4 -1.5 0.0 11,601 11,141 12,792 11,781 11,601 11,781 -1.5

 Primary metals....................................... 26,287 26,581 26,701 -1.1 -0.4 1.3 26,338 23,721 24,922 26,333 26,338 26,333 0.0

 Iron and steel mills............................ 14,846 15,074 14,870 -1.5 1.4 2.2 15,037 13,355 13,741 14,445 15,037 14,445 4.1

 Aluminum and nonferrous metals.......... 9,819 9,874 10,162 -0.6 -2.8 0.2 9,719 8,995 9,653 10,279 9,719 10,279 -5.4

 Ferrous metal foundries....................... 1,622 1,633 1,669 -0.7 -2.2 -0.9 1,582 1,371 1,528 1,609 1,582 1,609 -1.7

 Fabricated metal products....................... 36,314 36,383 36,334 -0.2 0.1 0.9 34,655 33,321 34,976 33,071 34,655 33,071 4.8

 Machinery............................................. 38,168 37,648 37,870 1.4 -0.6 -0.6 35,014 37,019 35,220 33,761 35,014 33,761 3.7

 Farm machinery................................. 2,430 2,336 2,389 4.0 -2.2 -11.1 2,225 1,960 1,950 2,240 2,225 2,240 -0.7

 Construction machinery..................... 4,580 4,456 4,424 2.8 0.7 -2.0 4,191 3,940 4,068 3,816 4,191 3,816 9.8

 Mining, oil field, and 

 gas field machinery.......................... 1,631 1,638 1,755 -0.4 -6.7 1.2 1,562 1,818 1,761 1,502 1,562 1,502 4.0

 Industrial machinery.......................... 4,100 3,783 3,899 8.4 -3.0 5.9 3,561 4,351 3,486 3,264 3,561 3,264 9.1

 Photographic equipment...................... 640 649 617 -1.4 5.2 -2.8 557 716 606 523 557 523 6.5

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............ 5,133 5,130 5,173 0.1 -0.8 -0.2 4,299 4,643 4,635 3,908 4,299 3,908 10.0

 Metalworking machinery..................... 2,869 2,645 2,714 8.5 -2.5 -1.5 2,716 2,869 2,731 2,537 2,716 2,537 7.1

 Turbines, generators, and other

 power transmission equipment....... 3,770 3,911 3,869 -3.6 1.1 0.1 3,645 3,593 3,798 3,567 3,645 3,567 2.2

 Material handling equipment............... 4,108 4,104 4,068 0.1 0.9 -1.9 3,923 4,131 3,860 3,612 3,923 3,612 8.6

 Computers and electronic products2.......... 29,725 29,646 29,774 0.3 -0.4 0.5 27,013 32,780 30,429 26,893 27,013 26,893 0.4

 Computers........................................ 972 933 939 4.2 -0.6 4.9 832 1,015 934 697 832 697 19.4

 Computer storage devices..................... 422 392 407 7.7 -3.7 -2.4 375 487 392 324 375 324 15.7

 Other peripheral equipment................ 807 758 752 6.5 0.8 1.5 747 933 702 718 747 718 4.0

 Nondefense communications

 equipment.................................... 2,816 2,816 2,831 0.0 -0.5 0.2 2,259 3,793 2,623 2,325 2,259 2,325 -2.8

 Defense communications equipment.... 199 197 201 1.0 -2.0 -2.4 162 194 219 169 162 169 -4.1

 Audio and video equipment.................... 547 486 502 12.6 -3.2 -0.6 472 566 726 402 472 402 17.4

 Electronic components......................... 5,073 5,027 4,940 0.9 1.8 1.5 4,759 5,018 4,884 4,373 4,759 4,373 8.8

 Nondefense search and navigation

 equipment...................................... 1,650 1,635 1,635 0.9 0.0 0.6 1,474 1,769 1,644 1,436 1,474 1,436 2.6

 Defense search and navigation

 equipment..................................... 3,392 3,363 3,415 0.9 -1.5 1.6 2,833 3,659 3,726 2,676 2,833 2,676 5.9

 Electromedical, measuring,

 and control instruments................. 8,930 9,067 9,066 -1.5 0.0 -0.1 7,673 10,690 8,834 7,569 7,673 7,569 1.4

 Electrical equipment, appliances, 

 and components................................... 14,402 14,112 14,140 2.1 -0.2 -0.2 12,831 13,621 13,626 12,359 12,831 12,359 3.8

 Electric lighting equipment..................... 1,344 1,327 1,344 1.3 -1.3 1.3 1,243 1,271 1,327 1,141 1,243 1,141 8.9

 Household appliances........................ 2,310 2,366 2,315 -2.4 2.2 -1.2 1,899 2,530 2,277 1,980 1,899 1,980 -4.1

 Electrical equipment............................ 4,844 4,624 4,745 4.8 -2.6 -0.2 4,244 4,404 4,492 4,037 4,244 4,037 5.1

 Batteries........................................... 1,392 1,323 1,297 5.2 2.0 -2.7 1,277 1,306 1,349 1,091 1,277 1,091 17.0

 Transportation equipment........................ 86,334 89,221 90,254 -3.2 -1.1 2.3 77,814 90,321 90,117 77,277 77,814 77,277 0.7

 Automobiles..................................... 9,127 9,133 9,393 -0.1 -2.8 -2.1 7,991 8,580 9,526 6,987 7,991 6,987 14.4

 Light trucks and utility vehicles.............. 19,482 19,688 19,762 -1.0 -0.4 10.4 17,361 20,531 19,948 18,829 17,361 18,829 -7.8

 Heavy duty trucks ............................. 3,123 3,331 3,033 -6.2 9.8 1.5 2,900 2,966 2,892 2,692 2,900 2,692 7.7

 Motor vehicle bodies, parts, 

 and trailers.................................... 29,098 29,006 28,942 0.3 0.2 1.0 28,321 24,999 28,065 27,375 28,321 27,375 3.5

 Nondefense aircraft and parts................ 9,949 12,926 13,906 -23.0 -7.0 3.7 7,979 17,015 13,763 8,362 7,979 8,362 -4.6

 Defense aircraft and parts.................. 4,914 4,840 4,899 1.5 -1.2 -0.5 4,138 5,087 5,259 3,982 4,138 3,982 3.9

 Ships and boats................................. 3,428 3,443 3,582 -0.4 -3.9 4.3 2,830 3,457 3,592 3,192 2,830 3,192 -11.3

 Furniture and related products.................. 6,821 6,729 6,749 1.4 -0.3 0.2 6,364 6,544 6,664 6,462 6,364 6,462 -1.5

 Miscellaneous durable goods................. 14,506 14,597 14,594 -0.6 0.0 1.3 13,674 15,641 14,555 13,468 13,674 13,468 1.5

 Nondurable goods industries..................... 293,417 296,731 297,701 -1.1 -0.3 0.0 281,456 286,357 292,678 287,799 281,456 287,799 -2.2

 Food products....................................... 79,862 80,113 79,906 -0.3 0.3 0.0 77,576 78,341 81,330 77,185 77,576 77,185 0.5

 Grain and oilseed milling....................... 9,504 9,674 9,743 -1.8 -0.7 -0.6 9,602 9,242 9,743 10,090 9,602 10,090 -4.8

 Dairy products.................................. 11,614 11,653 11,474 -0.3 1.6 -0.6 11,478 11,601 11,769 11,651 11,478 11,651 -1.5

 Meat, poultry, and seafood products... 23,872 24,247 24,068 -1.5 0.7 0.2 22,502 23,338 24,189 22,851 22,502 22,851 -1.5

 Beverage and tobacco products................ 18,485 18,237 18,089 1.4 0.8 0.0 17,589 17,772 17,883 15,704 17,589 15,704 12.0

 Beverages......................................... 11,354 11,272 10,873 0.7 3.7 -0.4 10,458 10,807 10,667 9,677 10,458 9,677 8.1

 Tobacco............................................ 7,131 6,965 7,216 2.4 -3.5 0.7 7,131 6,965 7,216 6,027 7,131 6,027 18.3

 Textile mills........................................... 2,039 2,065 2,075 -1.3 -0.5 -0.9 1,899 1,831 1,962 2,008 1,899 2,008 -5.4

 Textile products................................... 1,977 1,960 1,946 0.9 0.7 -1.8 1,801 1,782 1,842 1,851 1,801 1,851 -2.7

 Apparel................................................ 779 800 801 -2.6 -0.1 -2.2 744 828 899 835 744 835 -10.9

 Leather and allied products...................... 555 539 527 3.0 2.3 1.0 530 532 499 483 530 483 9.7

 Paper products...................................... 17,151 17,169 17,256 -0.1 -0.5 0.1 17,160 16,346 16,649 17,259 17,160 17,259 -0.6

 Pulp, paper, and paperboard mills....... 6,792 6,818 6,883 -0.4 -0.9 1.0 6,898 6,593 6,641 7,066 6,898 7,066 -2.4

 Paperboard containers........................ 6,325 6,289 6,298 0.6 -0.1 -1.2 6,342 5,716 6,078 6,164 6,342 6,164 2.9

 Printing................................................. 7,227 7,164 7,155 0.9 0.1 -0.1 7,041 6,902 7,245 7,047 7,041 7,047 -0.1

 Petroleum and coal products.................. 63,078 65,584 66,637 -3.8 -1.6 -1.0 57,916 61,907 64,144 68,043 57,916 68,043 -14.9

 Petroleum refineries.......................... 58,164 60,539 61,594 -3.9 -1.7 -1.1 53,858 57,609 59,287 64,159 53,858 64,159 -16.1

 Chemical products..................................... 77,265 77,975 78,342 -0.9 -0.5 0.6 75,032 77,154 76,443 73,771 75,032 73,771 1.7

 Pesticides, fertilizers, and other

 agricultural chemicals....................... 4,074 4,182 4,214 -2.6 -0.8 2.4 3,953 4,333 3,977 3,805 3,953 3,805 3.9

 Pharmaceuticals and medicines............. 25,421 25,440 25,222 -0.1 0.9 0.8 24,888 26,240 25,481 23,226 24,888 23,226 7.2

 Paints, coatings, and adhesives.......... 4,115 4,159 4,194 -1.1 -0.8 -0.6 3,765 3,468 3,826 3,738 3,765 3,738 0.7

 Plastics and rubber products.................. 24,999 25,125 24,967 -0.5 0.6 0.9 24,168 22,962 23,782 23,613 24,168 23,613 2.4

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

 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/>. 

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

0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 2. 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. 2024/

2024p 2023r 2023 Jan. Dec. Nov. 2024p 2023r 2023 2023 2024p 2023 2023

All manufacturing industries2........................ 569,702 591,153 593,104 -3.6 -0.3 2.6 533,920 586,326 579,193 542,609 533,920 542,609 -1.6

 Excluding transportation2...................... 479,932 484,011 485,275 -0.8 -0.3 0.2 458,636 467,448 470,344 462,194 458,636 462,194 -0.8

 Excluding defense2.............................. 553,188 577,131 578,130 -4.1 -0.2 3.2 521,138 567,328 563,056 529,198 521,138 529,198 -1.5

 With unfilled orders2

............................. 196,490 214,255 214,959 -8.3 -0.3 6.8 180,483 222,964 207,972 182,836 180,483 182,836 -1.3

 Durable goods industries2......................... 276,285 294,422 295,403 -6.2 -0.3 5.4 252,464 299,969 286,515 254,810 252,464 254,810 -0.9

 Primary metals........................................ 26,264 26,772 26,695 -1.9 0.3 0.9 26,736 24,726 25,187 26,580 26,736 26,580 0.6

 Iron and steel mills.............................. 14,730 15,053 14,857 -2.1 1.3 0.9 15,040 13,914 13,872 14,423 15,040 14,423 4.3

 Aluminum and nonferrous metals.......... 9,915 9,859 10,094 0.6 -2.3 0.9 10,086 9,078 9,717 10,539 10,086 10,539 -4.3

 Ferrous metal foundries....................... 1,619 1,860 1,744 -13.0 6.7 1.0 1,610 1,734 1,598 1,618 1,610 1,618 -0.5

 Fabricated metal products........................ 36,088 36,400 36,377 -0.9 0.1 0.0 35,455 32,422 33,893 33,915 35,455 33,915 4.5

 Machinery............................................. 37,114 37,225 37,370 -0.3 -0.4 -0.2 36,346 36,168 34,345 36,487 36,346 36,487 -0.4

 Construction machinery........................ 4,255 4,246 4,382 0.2 -3.1 1.0 4,333 3,948 4,192 4,041 4,333 4,041 7.2

 Mining, oil field, and

 gas field machinery.......................... 1,624 1,652 1,521 -1.7 8.6 -12.3 1,555 1,832 1,527 1,516 1,555 1,516 2.6

 Industrial machinery............................ 3,581 3,752 3,823 -4.6 -1.9 13.0 3,642 4,069 3,267 4,372 3,642 4,372 -16.7

 Photographic equipment....................... 600 582 601 3.1 -3.2 3.4 501 537 473 536 501 536 -6.5

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 5,016 5,286 5,130 -5.1 3.0 -2.7 4,550 4,951 4,367 4,390 4,550 4,390 3.6

 Metalworking machinery....................... 2,840 2,569 2,576 10.5 -0.3 -1.3 2,913 2,650 2,702 2,665 2,913 2,665 9.3

 Turbines, generators, and other 

 power transmission equipment........... 3,982 3,849 4,041 3.5 -4.8 -0.5 3,857 3,531 3,970 3,390 3,857 3,390 13.8

 Material handling equipment.................. 4,082 4,076 3,991 0.1 2.1 1.1 4,041 4,325 3,646 3,907 4,041 3,907 3.4

 Computers and electronic products2........... 25,208 24,879 24,854 1.3 0.1 0.4 21,939 29,646 24,376 20,820 21,939 20,820 5.4

 Computers........................................ 978 936 933 4.5 0.3 5.2 838 1,018 928 718 838 718 16.7

 Nondefense communications

 equipment...................................... 2,795 3,071 3,022 -9.0 1.6 5.1 2,106 4,546 2,901 2,298 2,106 2,298 -8.4

 Defense communications equipment....... 202 200 203 1.0 -1.5 -2.9 165 208 217 172 165 172 -4.1

 Electronic components......................... 4,979 4,898 4,864 1.7 0.7 1.1 4,788 5,128 4,733 4,358 4,788 4,358 9.9

 Nondefense search and navigation

 equipment...................................... 1,741 1,767 1,806 -1.5 -2.2 5.6 1,571 1,855 1,713 1,575 1,571 1,575 -0.3

 Defense search and navigation

 equipment...................................... 3,673 3,226 3,141 13.9 2.7 -4.4 2,933 4,020 3,058 2,431 2,933 2,431 20.6

 Electromedical, measuring,

 and control instruments..................... 8,914 8,995 9,073 -0.9 -0.9 -1.0 7,800 10,730 8,847 7,677 7,800 7,677 1.6

 Electrical equipment, appliances, 

 and components................................... 14,319 14,194 14,180 0.9 0.1 1.9 13,250 13,649 13,263 13,081 13,250 13,081 1.3

 Electric lighting equipment..................... 1,356 1,326 1,286 2.3 3.1 3.0 1,278 1,206 1,300 1,115 1,278 1,115 14.6

 Household appliances.......................... 2,380 2,415 2,410 -1.4 0.2 -0.5 2,012 2,639 2,392 2,010 2,012 2,010 0.1

 Electrical equipment............................ 4,700 4,721 4,746 -0.4 -0.5 6.2 4,426 4,460 4,103 4,669 4,426 4,669 -5.2

 Transportation equipment........................ 89,770 107,142 107,829 -16.2 -0.6 15.3 75,284 118,878 108,849 80,415 75,284 80,415 -6.4

 Motor vehicle bodies, parts, 

 and trailers..................................... 28,999 28,798 28,709 0.7 0.3 0.1 28,683 25,643 28,425 27,920 28,683 27,920 2.7

 Nondefense aircraft and parts................ 13,729 33,411 33,066 -58.9 1.0 84.1 6,380 44,137 33,124 10,186 6,380 10,186 -37.4

 Defense aircraft and parts.................... 4,364 4,246 4,296 2.8 -1.2 -13.5 3,736 5,874 5,106 4,888 3,736 4,888 -23.6

 Ships and boats.................................. 3,482 2,676 3,197 30.1 -16.3 -10.1 3,133 2,915 3,526 4,201 3,133 4,201 -25.4

 Furniture and related products................... 6,680 6,829 6,881 -2.2 -0.8 1.8 6,514 6,241 6,882 6,727 6,514 6,727 -3.2

 Nondurable goods industries..................... 293,417 296,731 297,701 -1.1 -0.3 0.0 281,456 286,357 292,678 287,799 281,456 287,799 -2.2

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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRBFY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 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. 2024/

2024p 2023r 2023 Jan. Dec. Nov. 2024p 2023r 2023 2023 2023

All manufacturing industries2

...................... 1,395,115 1,392,966 1,375,039 0.2 1.3 1.3 1,393,979 1,393,211 1,364,323 1,278,146 9.1

 Excluding transportation2...................... 495,387 496,674 496,668 -0.3 0.0 -0.1 493,181 489,883 489,552 497,096 -0.8

 Excluding defense2............................. 1,154,103 1,152,074 1,132,140 0.2 1.8 1.7 1,153,447 1,151,597 1,124,221 1,042,766 10.6

 Durable goods industries2

........................ 1,395,115 1,392,966 1,375,039 0.2 1.3 1.3 1,393,979 1,393,211 1,364,323 1,278,146 9.1

 Primary metals........................................ 38,607 38,630 38,439 -0.1 0.5 0.0 38,709 38,311 37,306 38,013 1.8

 Iron and steel mills............................... 23,466 23,582 23,603 -0.5 -0.1 -0.1 23,389 23,386 22,827 22,439 4.2

 Aluminum and nonferrous metals............. 10,168 10,072 10,087 1.0 -0.1 -0.7 10,304 9,937 9,854 10,969 -6.1

 Ferrous metal foundries........................ 4,973 4,976 4,749 -0.1 4.8 1.6 5,016 4,988 4,625 4,605 8.9

 Fabricated metal products......................... 129,641 129,867 129,850 -0.2 0.0 0.0 127,472 126,672 127,571 127,268 0.2

 Machinery.............................................. 135,508 136,562 136,985 -0.8 -0.3 -0.4 135,656 134,324 135,175 141,083 -3.8

 Construction machinery......................... 9,760 10,085 10,295 -3.2 -2.0 -0.4 10,072 9,930 9,922 11,612 -13.3

 Mining, oil field, and

 gas field machinery.......................... 4,639 4,646 4,632 -0.2 0.3 -4.8 4,639 4,646 4,632 5,326 -12.9

 Industrial machinery............................. 10,780 11,299 11,330 -4.6 -0.3 -0.7 10,871 10,790 11,072 12,791 -15.0

 Photographic equipment........................ 3,582 3,622 3,689 -1.1 -1.8 -0.4 3,493 3,549 3,728 3,856 -9.4

 Ventilation, heating, air-conditioning,

 and refrigeration equipment................ 13,790 13,907 13,751 -0.8 1.1 -0.3 13,723 13,472 13,164 13,434 2.2

 Metalworking machinery........................ 9,078 9,107 9,183 -0.3 -0.8 -1.5 9,131 8,934 9,153 9,912 -7.9

 Turbines, generators, and other 

 power transmission equipment............ 33,187 32,975 33,037 0.6 -0.2 0.5 33,187 32,975 33,037 31,951 3.9

 Material handling equipment................... 18,986 19,012 19,040 -0.1 -0.1 -0.4 19,130 19,012 18,818 19,535 -2.1

 Computers and electronic products2............. 135,259 135,009 134,954 0.2 0.0 0.0 135,388 135,179 133,812 134,374 0.8

 Computers......................................... 1,278 1,272 1,269 0.5 0.2 -0.5 1,278 1,272 1,269 1,304 -2.0

 Nondefense communications

 equipment...................................... 17,552 17,573 17,318 -0.1 1.5 1.1 17,728 17,881 17,128 17,520 1.2

 Defense communications equipment........ 244 241 238 1.2 1.3 0.8 249 246 232 249 0.0

 Electronic components.......................... 16,233 16,327 16,456 -0.6 -0.8 -0.5 16,440 16,411 16,301 17,496 -6.0

 Nondefense search and navigation

 equipment....................................... 31,996 31,905 31,773 0.3 0.4 0.5 31,926 31,829 31,743 30,518 4.6

 Defense search and navigation

 equipment....................................... 35,759 35,478 35,615 0.8 -0.4 -0.8 35,523 35,423 35,062 35,278 0.7

 Electromedical, measuring,

 and control instruments...................... 32,197 32,213 32,285 0.0 -0.2 0.0 32,244 32,117 32,077 32,009 0.7

 Electrical equipment, appliances, 

 and components.................................... 43,742 43,825 43,743 -0.2 0.2 0.1 43,614 43,195 43,167 43,137 1.1

 Electric lighting equipment..................... 3,742 3,730 3,731 0.3 0.0 -1.5 3,728 3,693 3,758 3,677 1.4

 Household appliances........................... 5,481 5,411 5,362 1.3 0.9 1.8 5,662 5,549 5,440 4,610 22.8

 Electrical equipment............................. 21,992 22,136 22,039 -0.7 0.4 0.0 21,851 21,669 21,613 22,376 -2.3

 Transportation equipment......................... 899,728 896,292 878,371 0.4 2.0 2.0 900,798 903,328 874,771 781,050 15.3

 Motor vehicle bodies, parts, 

 and trailers...................................... 34,812 34,911 35,119 -0.3 -0.6 -0.7 35,486 35,124 34,480 35,486 0.0

 Nondefense aircraft and parts................ 648,917 645,137 624,652 0.6 3.3 3.2 649,509 651,108 623,986 532,539 22.0

 Defense aircraft and parts..................... 71,680 72,230 72,824 -0.8 -0.8 -0.8 72,316 72,718 71,931 68,208 6.0

 Ships and boats.................................. 55,265 55,211 55,978 0.1 -1.4 -0.7 54,465 54,162 54,704 56,195 -3.1

 Furniture and related products................... 10,649 10,790 10,690 -1.3 0.9 1.3 10,361 10,211 10,514 11,007 -5.9

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/>. 

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

CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.
Table 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. 2024/

2024p 2023r 2023 Jan. Dec. Nov. 2024p 2023r 2023 2023 2023

 All manufacturing industries...................... 855,786 856,616 856,730 -0.1 0.0 0.0 853,123 836,431 854,840 857,451 -0.5

 Excluding transportation........................ 686,812 688,886 690,414 -0.3 -0.2 0.0 685,419 674,181 688,334 695,428 -1.4

 Excluding defense............................. 825,673 826,732 826,980 -0.1 0.0 0.0 823,234 806,818 825,052 828,646 -0.7

 With unfilled orders............................. 426,861 426,033 425,036 0.2 0.2 0.2 424,903 417,066 423,522 419,601 1.3

 Durable goods industries........................ 527,360 526,285 525,004 0.2 0.2 0.1 525,386 514,040 523,626 519,556 1.1

 Wood products........................................ 15,769 15,693 15,779 0.5 -0.5 -0.8 16,121 15,707 15,822 16,685 -3.4

 Nonmetallic mineral products..................... 17,432 17,290 17,304 0.8 -0.1 0.3 17,445 16,985 16,885 16,895 3.3

 Primary metals......................................... 45,494 45,599 45,744 -0.2 -0.3 -0.7 45,432 44,984 45,180 47,128 -3.6

 Iron and steel mills............................... 26,559 26,538 26,665 0.1 -0.5 -0.6 26,620 26,121 26,360 27,774 -4.2

 Aluminum and nonferrous metals............ 15,734 15,844 15,857 -0.7 -0.1 -1.0 15,581 15,686 15,629 16,225 -4.0

 Ferrous metal foundries........................ 3,201 3,217 3,222 -0.5 -0.2 0.1 3,231 3,177 3,191 3,129 3.3

 Fabricated metal products......................... 64,688 64,644 64,768 0.1 -0.2 0.1 64,592 63,544 63,932 64,856 -0.4

 Machinery.............................................. 95,487 95,407 95,060 0.1 0.4 0.2 94,552 93,333 95,256 92,438 2.3

 Farm machinery.................................. 5,628 5,720 5,634 -1.6 1.5 2.0 5,738 5,771 5,532 6,025 -4.8

 Construction machinery......................... 9,978 10,010 9,855 -0.3 1.6 0.5 10,005 9,883 9,829 9,333 7.2

 Mining, oil field, 

 and gas field machinery.................... 5,689 5,840 5,879 -2.6 -0.7 -1.2 5,647 5,644 5,873 5,727 -1.4

 Industrial machinery............................. 11,150 11,126 11,103 0.2 0.2 -0.2 10,553 11,434 11,302 10,569 -0.2

 Photographic equipment....................... 1,430 1,437 1,439 -0.5 -0.1 -0.5 1,432 1,376 1,460 1,449 -1.2

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 9,661 9,720 9,806 -0.6 -0.9 0.8 9,594 9,179 9,585 9,166 4.7

 Metalworking machinery........................ 7,485 7,513 7,484 -0.4 0.4 0.7 7,398 7,422 7,492 7,267 1.8

 Turbines, generators, and other

 power transmission equipment............ 12,347 12,081 12,046 2.2 0.3 -0.7 12,254 11,427 12,141 11,622 5.4

 Material handling equipment.................. 8,088 8,076 8,012 0.1 0.8 1.1 7,964 7,689 8,189 7,667 3.9

 Computers and electronic products2............ 55,400 55,545 55,427 -0.3 0.2 0.2 55,445 54,403 55,804 55,450 0.0

 Computers......................................... 1,860 1,875 1,843 -0.8 1.7 1.2 1,764 1,816 1,859 1,943 -9.2

 Computer storage devices.................... 622 643 598 -3.3 7.5 0.0 610 618 626 583 4.6

 Other peripheral equipment................... 1,042 1,048 1,037 -0.6 1.1 0.8 1,013 1,023 1,049 991 2.2

 Nondefense communications

 equipment...................................... 4,321 4,344 4,378 -0.5 -0.8 -0.5 4,235 4,125 4,490 4,380 -3.3

 Defense communications equipment........ 642 639 638 0.5 0.2 0.5 642 639 638 607 5.8

 Audio and video equipment.................... 652 650 661 0.3 -1.7 -6.5 621 588 642 798 -22.2

 Electronic components.......................... 10,422 10,542 10,726 -1.1 -1.7 0.1 10,741 10,465 10,616 11,587 -7.3

 Nondefense search and navigation

 equipment...................................... 4,293 4,293 4,302 0.0 -0.2 0.2 4,298 4,206 4,319 4,151 3.5

 Defense search and navigation

 equipment....................................... 3,436 3,423 3,409 0.4 0.4 0.9 3,451 3,346 3,395 3,357 2.8

 Electromedical, measuring 

 and control instruments...................... 19,277 19,321 19,178 -0.2 0.7 0.2 19,089 18,818 19,356 18,671 2.2

 Electrical equipment, appliances, 

 and components.................................... 26,087 26,287 26,487 -0.8 -0.8 0.3 26,146 25,486 26,020 25,894 1.0

 Electric lighting equipment..................... 2,446 2,438 2,472 0.3 -1.4 -0.8 2,507 2,362 2,489 2,606 -3.8

 Household appliances........................... 3,622 3,691 3,668 -1.9 0.6 2.3 3,565 3,360 3,548 3,447 3.4

 Electrical equipment............................. 9,845 9,974 10,008 -1.3 -0.3 -0.1 9,969 9,918 9,875 9,684 2.9

 Batteries............................................ 1,956 1,961 2,001 -0.3 -2.0 2.1 1,826 1,808 1,859 1,734 5.3

 Transportation equipment......................... 168,974 167,730 166,316 0.7 0.9 0.3 167,704 162,250 166,506 162,023 3.5

 Automobiles....................................... 5,303 5,293 5,440 0.2 -2.7 -3.3 5,242 4,823 5,518 5,683 -7.8

 Light trucks and utility vehicles.............. 9,863 9,745 9,419 1.2 3.5 -2.1 9,589 8,163 9,686 9,213 4.1

 Heavy duty trucks ............................... 2,964 2,939 2,930 0.9 0.3 -0.1 2,957 2,679 2,892 2,864 3.2

 Motor vehicle bodies, parts, 

 and trailers...................................... 36,402 36,344 36,467 0.2 -0.3 0.2 36,761 35,684 36,035 35,690 3.0

 Nondefense aircraft and parts................ 80,854 79,977 78,947 1.1 1.3 0.8 79,858 78,007 79,166 76,368 4.6

 Defense aircraft and parts..................... 14,043 14,007 13,925 0.3 0.6 -1.0 13,970 13,892 13,957 13,928 0.3

 Ships and boats.................................. 4,650 4,597 4,918 1.2 -6.5 4.4 4,496 4,472 4,953 4,565 -1.5

 Furniture and related products.................... 10,111 10,078 10,130 0.3 -0.5 -0.7 10,228 9,857 10,055 10,658 -4.0

 Miscellaneous durable goods..................... 27,918 28,012 27,989 -0.3 0.1 0.3 27,721 27,491 28,166 27,529 0.7

 Nondurable goods industries...................... 328,426 330,331 331,726 -0.6 -0.4 -0.1 327,737 322,391 331,214 337,895 -3.0

 Food products........................................ 69,992 70,348 70,594 -0.5 -0.3 -0.3 70,310 70,466 72,206 72,702 -3.3

 Grain and oilseed milling........................ 7,286 7,396 7,414 -1.5 -0.2 0.5 7,481 7,460 7,452 8,156 -8.3

 Dairy products.................................... 10,450 10,621 10,662 -1.6 -0.4 -0.3 10,252 10,188 10,160 10,590 -3.2

 Meat, poultry, and seafood products....... 12,741 12,858 12,972 -0.9 -0.9 -0.7 12,529 12,536 13,042 13,275 -5.6

 Beverage and tobacco products................ 30,614 30,497 30,634 0.4 -0.4 0.3 30,935 30,138 30,889 31,450 -1.6

 Beverages......................................... 27,051 26,918 27,019 0.5 -0.4 0.4 27,195 26,431 27,097 27,577 -1.4

 Tobacco............................................ 3,563 3,579 3,615 -0.4 -1.0 -0.7 3,740 3,707 3,792 3,873 -3.4

 Textile mills............................................ 3,521 3,514 3,541 0.2 -0.8 -0.1 3,528 3,490 3,508 3,642 -3.1

 Textile products...................................... 3,607 3,636 3,649 -0.8 -0.4 0.6 3,668 3,626 3,656 3,880 -5.5

 Apparel................................................. 2,178 2,162 2,156 0.7 0.3 0.0 2,135 2,039 2,130 2,245 -4.9

 Leather and allied products....................... 1,258 1,270 1,273 -0.9 -0.2 1.2 1,258 1,252 1,266 1,333 -5.6

 Paper products....................................... 17,820 17,883 17,889 -0.4 0.0 0.1 17,904 17,682 17,607 18,477 -3.1

 Pulp, paper, and paperboard mills........... 5,576 5,601 5,587 -0.4 0.3 0.3 5,595 5,588 5,504 5,682 -1.5

 Paperboard containers......................... 6,735 6,760 6,752 -0.4 0.1 0.3 6,831 6,735 6,625 7,073 -3.4

 Printing.................................................. 6,512 6,533 6,506 -0.3 0.4 0.8 6,480 6,407 6,515 7,105 -8.8

 Petroleum and coal products..................... 47,172 48,360 49,461 -2.5 -2.2 -0.3 45,254 44,445 48,475 49,497 -8.6

 Petroleum refineries............................. 40,674 41,870 43,019 -2.9 -2.7 -0.1 38,709 38,099 42,241 42,424 -8.8

 Chemical products..................................... 112,838 112,962 112,774 -0.1 0.2 0.0 113,276 110,330 111,990 112,898 0.3

 Pesticides, fertilizers, and other

 agricultural chemicals........................ 5,975 5,921 6,056 0.9 -2.2 -1.5 6,250 5,907 6,032 6,188 1.0

 Pharmaceuticals and medicines.............. 49,096 48,898 48,416 0.4 1.0 1.0 49,331 47,604 48,056 47,228 4.5

 Paints, coatings, and adhesives.............. 5,469 5,527 5,539 -1.0 -0.2 -0.1 5,491 5,341 5,381 6,015 -8.7

 Plastics and rubber products..................... 32,914 33,166 33,249 -0.8 -0.2 -0.5 32,989 32,516 32,972 34,666 -4.8

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/>. 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 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. 2024/

2024p 2023r 2023 Jan. Dec. Nov. 2024p 2023r 2023 2023 2024p 2023 2023

SHIPMENTS

 All manufacturing industries......................... 572,320 578,048 580,730 -1.0 -0.5 0.5 538,435 561,939 568,342 540,816 538,435 540,816 -0.4

 Construction materials and supplies....... 62,316 62,514 62,778 -0.3 -0.4 -0.1 56,200 54,449 59,549 55,088 56,200 55,088 2.0

 Information technology......................... 25,037 24,918 24,955 0.5 -0.1 0.4 21,696 28,087 24,746 21,096 21,696 21,096 2.8

 Computers and related products........... 2,201 2,083 2,098 5.7 -0.7 2.2 1,954 2,435 2,028 1,739 1,954 1,739 12.4

 Motor vehicle and parts......................... 60,830 61,158 61,130 -0.5 0.0 3.4 56,573 57,076 60,431 55,883 56,573 55,883 1.2

 Capital goods...................................... 93,782 96,023 97,231 -2.3 -1.2 0.4 83,190 104,462 94,823 81,914 83,190 81,914 1.6

 Nondefense capital goods3.................. 79,782 82,231 83,055 -3.0 -1.0 0.2 71,435 89,142 79,523 70,938 71,435 70,938 0.7

 Excluding aircraft............................. 74,784 74,146 74,067 0.9 0.1 -0.3 68,200 76,912 70,667 66,569 68,200 66,569 2.5

 Defense capital goods4........................ 14,000 13,792 14,176 1.5 -2.7 1.4 11,755 15,320 15,300 10,976 11,755 10,976 7.1

 Consumer goods.................................. 242,327 245,144 245,893 -1.1 -0.3 0.5 229,383 240,765 244,883 236,659 229,383 236,659 -3.1

 Consumer durable goods..................... 43,852 44,211 44,442 -0.8 -0.5 4.1 39,179 44,692 44,783 39,917 39,179 39,917 -1.8

 Consumer nondurable goods................ 198,475 200,933 201,451 -1.2 -0.3 -0.2 190,204 196,073 200,100 196,742 190,204 196,742 -3.3

 All manufacturing industries5...................... 569,702 591,153 593,104 -3.6 -0.3 2.6 533,920 586,326 579,193 542,609 533,920 542,609 -1.6

 Construction materials and supplies....... 62,118 62,623 62,661 -0.8 -0.1 -0.2 56,976 54,084 58,363 55,965 56,976 55,965 1.8

 Information technology......................... 25,320 24,972 25,032 1.4 -0.2 0.3 21,909 29,093 24,235 21,194 21,909 21,194 3.4

 Computers and related products........... 2,207 2,086 2,092 5.8 -0.3 2.3 1,960 2,438 2,022 1,760 1,960 1,760 11.4

 Motor vehicle and parts......................... 60,731 60,950 60,897 -0.4 0.1 3.0 56,935 57,720 60,791 56,428 56,935 56,428 0.9

 Capital goods...................................... 96,546 113,765 115,358 -15.1 -1.4 12.9 81,683 130,678 112,019 87,261 81,683 87,261 -6.4

 Nondefense capital goods3.................. 82,573 102,519 102,380 -19.5 0.1 18.2 71,276 115,189 98,279 76,071 71,276 76,071 -6.3

 Excluding aircraft............................. 73,615 73,617 74,031 0.0 -0.6 0.9 69,746 76,177 69,976 69,979 69,746 69,979 -0.3

 Defense capital goods4........................ 13,973 11,246 12,978 24.2 -13.3 -16.3 10,407 15,489 13,740 11,190 10,407 11,190 -7.0

 Consumer goods.................................. 242,321 245,258 246,113 -1.2 -0.3 0.6 229,592 240,675 245,206 236,760 229,592 236,760 -3.0

 Consumer durable goods..................... 43,846 44,325 44,662 -1.1 -0.8 4.5 39,388 44,602 45,106 40,018 39,388 40,018 -1.6

 Consumer nondurable goods.............. 198,475 200,933 201,451 -1.2 -0.3 -0.2 190,204 196,073 200,100 196,742 190,204 196,742 -3.3

 All manufacturing industries5...................... 1,395,115 1,392,966 1,375,039 0.2 1.3 1.3 1,393,979 1,393,211 1,364,323 1,278,146 (X) (X) 9.1

 Construction materials and supplies....... 99,724 99,922 99,813 -0.2 0.1 -0.1 97,822 97,046 97,411 98,624 (X) (X) -0.8

 Information technology......................... 135,135 134,852 134,798 0.2 0.0 0.1 134,814 134,601 133,595 133,208 (X) (X) 1.2

 Computers and related products........... 1,278 1,272 1,269 0.5 0.2 -0.5 1,278 1,272 1,269 1,304 (X) (X) -2.0

 Motor vehicle and parts......................... 34,812 34,911 35,119 -0.3 -0.6 -0.7 35,486 35,124 34,480 35,486 (X) (X) 0.0

 Capital goods...................................... 1,052,773 1,050,009 1,032,267 0.3 1.7 1.8 1,051,639 1,053,146 1,026,930 939,233 (X) (X) 12.0

 Nondefense capital goods3.................. 844,508 841,717 821,429 0.3 2.5 2.4 844,357 844,516 818,469 733,777 (X) (X) 15.1

 Excluding aircraft............................. 268,385 269,554 270,083 -0.4 -0.2 0.0 268,203 266,657 267,392 274,090 (X) (X) -2.1

 Defense capital goods4........................ 208,265 208,292 210,838 0.0 -1.2 -0.6 207,282 208,630 208,461 205,456 (X) (X) 0.9

 Consumer goods.................................. 12,717 12,723 12,609 0.0 0.9 1.8 12,816 12,607 12,697 11,979 (X) (X) 7.0

 Consumer durable goods..................... 12,717 12,723 12,609 0.0 0.9 1.8 12,816 12,607 12,697 11,979 (X) (X) 7.0 

 All manufacturing industries....................... 855,786 856,616 856,730 -0.1 0.0 0.0 853,123 836,431 854,840 857,451 (X) (X) -0.5

 Construction materials and supplies....... 92,888 92,752 92,945 0.1 -0.2 0.1 93,329 91,069 91,555 93,549 (X) (X) -0.2

 Information technology......................... 45,956 46,058 45,982 -0.2 0.2 0.1 45,611 44,763 46,257 45,535 (X) (X) 0.2

 Computers and related products........... 3,524 3,566 3,478 -1.2 2.5 0.8 3,387 3,457 3,534 3,517 (X) (X) -3.7

 Motor vehicle and parts......................... 54,532 54,321 54,256 0.4 0.1 -0.6 54,549 51,349 54,131 53,450 (X) (X) 2.1

 Capital goods...................................... 254,719 253,845 252,417 0.3 0.6 0.5 252,140 248,093 253,397 245,387 (X) (X) 2.8

 Nondefense capital goods3.................. 229,925 229,233 227,883 0.3 0.6 0.4 227,497 223,637 228,857 221,680 (X) (X) 2.6

 Excluding aircraft............................. 163,409 163,452 162,884 0.0 0.3 0.1 162,108 159,832 163,397 159,097 (X) (X) 1.9

 Defense capital goods4........................ 24,794 24,612 24,534 0.7 0.3 1.3 24,643 24,456 24,540 23,707 (X) (X) 3.9

 Consumer goods.................................. 253,204 254,495 255,417 -0.5 -0.4 -0.1 251,813 245,989 256,299 258,779 (X) (X) -2.7

 Consumer durable goods..................... 41,532 41,547 41,449 0.0 0.2 -1.0 41,210 38,675 41,760 42,445 (X) (X) -2.9

 Consumer nondurable goods................ 211,672 212,948 213,968 -0.6 -0.5 0.1 210,603 207,314 214,539 216,334 (X) (X) -2.6

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/>. 

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 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. 2024/

2024p 2023r 2023 Jan. Dec. Nov. 2024p 2023r 2023 2023 2023

MATERIALS AND SUPPLIES

 All manufacturing industries....................... 313,002 313,535 315,456 -0.2 -0.6 -0.1 313,393 310,089 314,180 318,553 -1.6

 Durable goods industries.......................... 196,661 196,221 197,150 0.2 -0.5 -0.1 196,769 194,438 196,333 196,896 -0.1

 Wood products................................... 7,536 7,517 7,539 0.3 -0.3 -0.8 7,718 7,690 7,682 7,985 -3.3

 Nonmetallic mineral products................. 7,748 7,611 7,657 1.8 -0.6 -0.1 7,736 7,552 7,594 7,640 1.3

 Primary metals.................................... 18,557 18,483 18,584 0.4 -0.5 0.2 18,557 18,369 18,562 18,792 -1.3

 Fabricated metal products.......................... 24,173 24,135 24,272 0.2 -0.6 0.1 24,266 24,051 24,054 24,864 -2.4

 Machinery.......................................... 40,409 40,203 40,486 0.5 -0.7 0.1 40,180 39,631 40,400 40,222 -0.1

 Computers and electronic products........ 27,454 27,400 27,413 0.2 0.0 1.2 27,408 26,998 27,440 26,296 4.2

 Electrical equipment, appliances,

 and components............................... 12,676 12,746 12,833 -0.5 -0.7 -0.1 12,740 12,535 12,596 12,596 1.1

 Transportation equipment..................... 43,027 43,123 43,312 -0.2 -0.4 -1.0 43,001 42,761 43,042 43,316 -0.7

 Furniture and related products............... 5,244 5,210 5,224 0.7 -0.3 -0.9 5,352 5,087 5,084 5,461 -2.0

 Miscellaneous products......................... 9,837 9,793 9,830 0.4 -0.4 0.2 9,811 9,764 9,879 9,724 0.9

 Nondurable goods industries...................... 116,341 117,314 118,306 -0.8 -0.8 -0.1 116,624 115,651 117,847 121,657 -4.1

 Food products.................................... 26,221 26,296 26,517 -0.3 -0.8 0.1 26,389 26,448 26,864 26,843 -1.7

 Beverage and tobacco products........................ 6,288 6,322 6,350 -0.5 -0.4 1.7 6,521 6,453 6,438 6,690 -2.5

 Textiles.............................................. 1,489 1,482 1,484 0.5 -0.1 0.5 1,486 1,482 1,471 1,451 2.4

 Textile products................................... 1,678 1,681 1,696 -0.2 -0.9 0.3 1,700 1,680 1,695 1,736 -2.1

 Apparel............................................. 601 564 564 6.6 0.0 -0.5 601 539 557 627 -4.1

 Leather and allied products.................... 381 383 386 -0.5 -0.8 2.4 379 379 378 419 -9.5

 Paper products.................................... 9,253 9,251 9,253 0.0 0.0 0.0 9,331 9,208 9,168 9,804 -4.8

 Printing ............................................. 3,365 3,401 3,371 -1.1 0.9 1.7 3,370 3,394 3,362 3,712 -9.2

 Petroleum and coal products................. 14,472 14,930 15,381 -3.1 -2.9 1.5 13,913 13,649 14,941 14,621 -4.8

 Chemical products................................ 38,381 38,753 39,051 -1.0 -0.8 -0.8 38,600 38,313 38,850 39,939 -3.4

 Plastics and rubber products.................. 14,212 14,251 14,253 -0.3 0.0 -1.6 14,334 14,106 14,123 15,815 -9.4

WORK IN PROCESS

 All manufacturing industries....................... 245,697 244,685 242,941 0.4 0.7 0.3 244,065 237,899 243,344 240,402 1.5

 Durable goods industries.......................... 182,915 182,327 180,308 0.3 1.1 0.6 181,411 177,450 180,357 176,860 2.6

 Wood products................................... 1,800 1,793 1,792 0.4 0.1 -0.8 1,833 1,773 1,789 1,897 -3.4

 Nonmetallic mineral products................. 1,808 1,800 1,789 0.4 0.6 0.2 1,826 1,735 1,714 1,628 12.2

 Primary metals.................................... 12,009 12,237 12,233 -1.9 0.0 -0.5 11,834 11,761 12,070 12,933 -8.5

 Fabricated metal products.......................... 17,478 17,469 17,428 0.1 0.2 0.5 17,422 16,996 17,298 16,723 4.2

 Machinery.......................................... 24,454 24,885 24,457 -1.7 1.8 0.1 23,998 23,970 24,590 23,629 1.6

 Computers and electronic products........ 13,742 13,794 13,909 -0.4 -0.8 -0.1 13,974 13,562 13,956 14,449 -3.3

 Electrical equipment, appliances,

 and components............................... 4,668 4,649 4,565 0.4 1.8 1.2 4,637 4,495 4,477 4,483 3.4

 Transportation equipment..................... 100,585 99,389 97,868 1.2 1.6 1.0 99,552 97,046 98,168 94,875 4.9

 Furniture and related products............... 1,382 1,394 1,406 -0.9 -0.9 -1.1 1,388 1,394 1,439 1,536 -9.6

 Miscellaneous products......................... 4,989 4,917 4,861 1.5 1.2 1.3 4,947 4,718 4,856 4,707 5.1

 Nondurable goods industries...................... 62,782 62,358 62,633 0.7 -0.4 -0.7 62,654 60,449 62,987 63,542 -1.4

 Food products.................................... 6,224 6,285 6,341 -1.0 -0.9 1.7 6,540 6,691 7,028 8,136 -19.6

 Beverage and tobacco products........................ 11,280 11,111 11,185 1.5 -0.7 -0.4 11,545 11,342 11,411 11,093 4.1

 Textiles.............................................. 552 553 560 -0.2 -1.3 0.2 549 537 558 587 -6.5

 Textile products................................... 464 466 469 -0.4 -0.6 -0.2 475 459 472 488 -2.7

 Apparel............................................. 320 324 325 -1.2 -0.3 3.5 315 304 327 271 16.2

 Leather and allied products.................... 143 144 148 -0.7 -2.7 -0.7 143 140 147 128 11.7

 Paper products.................................... 1,807 1,822 1,790 -0.8 1.8 1.4 1,804 1,781 1,765 1,635 10.3

 Printing ............................................. 1,156 1,144 1,146 1.0 -0.2 0.5 1,147 1,096 1,176 1,184 -3.1

 Petroleum and coal products................. 16,994 16,962 17,449 0.2 -2.8 -2.6 16,170 15,296 16,902 16,705 -3.2

 Chemical products................................ 19,955 19,661 19,317 1.5 1.8 -0.5 20,071 19,013 19,272 19,451 3.2

 Plastics and rubber products.................. 3,887 3,886 3,903 0.0 -0.4 -0.1 3,895 3,790 3,929 3,864 0.8

FINISHED GOODS

 All manufacturing industries....................... 297,087 298,396 298,333 -0.4 0.0 -0.1 295,665 288,443 297,316 298,496 -0.9

 Durable goods industries.......................... 147,784 147,737 147,546 0.0 0.1 -0.3 147,206 142,152 146,936 145,800 1.0

 Wood products................................... 6,433 6,383 6,448 0.8 -1.0 -0.7 6,570 6,244 6,351 6,803 -3.4

 Nonmetallic mineral products................. 7,876 7,879 7,858 0.0 0.3 0.7 7,883 7,698 7,577 7,627 3.4

 Primary metals.................................... 14,928 14,879 14,927 0.3 -0.3 -1.8 15,041 14,854 14,548 15,403 -2.4

 Fabricated metal products.......................... 23,037 23,040 23,068 0.0 -0.1 -0.2 22,904 22,497 22,580 23,269 -1.6

 Machinery.......................................... 30,624 30,319 30,117 1.0 0.7 0.4 30,374 29,732 30,266 28,587 6.3

 Computers and electronic products........ 14,204 14,351 14,105 -1.0 1.7 -1.3 14,063 13,843 14,408 14,705 -4.4

 Electrical equipment, appliances,

 and components............................... 8,743 8,892 9,089 -1.7 -2.2 0.6 8,769 8,456 8,947 8,815 -0.5

 Transportation equipment..................... 25,362 25,218 25,136 0.6 0.3 -0.4 25,151 22,443 25,296 23,832 5.5

 Furniture and related products............... 3,485 3,474 3,500 0.3 -0.7 -0.2 3,488 3,376 3,532 3,661 -4.7

 Miscellaneous products......................... 13,092 13,302 13,298 -1.6 0.0 0.0 12,963 13,009 13,431 13,098 -1.0

 Nondurable goods industries...................... 149,303 150,659 150,787 -0.9 -0.1 0.2 148,459 146,291 150,380 152,696 -2.8

 Food products.................................... 37,547 37,767 37,736 -0.6 0.1 -0.8 37,381 37,327 38,314 37,723 -0.9

 Beverage and tobacco products........................ 13,046 13,064 13,099 -0.1 -0.3 0.2 12,869 12,343 13,040 13,667 -5.8

 Textiles.............................................. 1,480 1,479 1,497 0.1 -1.2 -0.7 1,493 1,471 1,479 1,604 -6.9

 Textile products................................... 1,465 1,489 1,484 -1.6 0.3 1.2 1,493 1,487 1,489 1,656 -9.8

 Apparel............................................. 1,257 1,274 1,267 -1.3 0.6 -0.5 1,219 1,196 1,246 1,347 -9.5

 Leather and allied products.................... 734 743 739 -1.2 0.5 1.0 736 733 741 786 -6.4

 Paper products.................................... 6,760 6,810 6,846 -0.7 -0.5 -0.2 6,769 6,693 6,674 7,038 -3.8

 Printing ............................................. 1,991 1,988 1,989 0.2 -0.1 -0.6 1,963 1,917 1,977 2,209 -11.1

 Petroleum and coal products................. 15,706 16,468 16,631 -4.6 -1.0 0.5 15,171 15,500 16,632 18,171 -16.5

 Chemical products................................ 54,502 54,548 54,406 -0.1 0.3 0.7 54,605 53,004 53,868 53,508 2.1

 Plastics and rubber products.................. 14,815 15,029 15,093 -1.4 -0.4 0.6 14,760 14,620 14,920 14,987 -1.5

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. 

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/>. 

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

0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information on data sources and methodology can be found on our website at 

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

2024p 2023r 2023 2023 2024p 2023r 2023 2023

All manufacturing industries3.................................... 1.50 1.48 1.48 1.48 (X) (X) (X) (X)

Durable goods industries3........................................ 1.89 1.87 1.85 1.87 7.18 7.10 6.96 6.91

 Wood products........................................................... 1.17 1.18 1.19 1.20 (X) (X) (X) (X)

 Nonmetallic mineral products............................. 1.35 1.32 1.30 1.30 (X) (X) (X) (X)

 Primary metals............................................................ 1.73 1.72 1.71 1.75 1.47 1.45 1.44 1.46

 Fabricated metal products...................................... 1.78 1.78 1.78 1.80 3.66 3.66 3.66 3.70

 Machinery..................................................................... 2.50 2.53 2.51 2.49 3.88 3.97 3.96 3.98

 Computers and electronic products3................... 1.86 1.87 1.86 1.87 5.87 5.86 5.86 5.90

 Electrical equipment, appliances,

 and components.................................................... 1.81 1.86 1.87 1.86 3.36 3.43 3.41 3.41

 Transportation equipment..................................... 1.96 1.88 1.84 1.88 16.48 15.71 15.13 14.90

 Furniture and related products............................ 1.48 1.50 1.50 1.51 1.77 1.83 1.80 1.78

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

Nondurable goods industries................................... 1.12 1.11 1.11 1.12 (X) (X) (X) (X)

 Food products............................................................. 0.88 0.88 0.88 0.89 (X) (X) (X) (X)

 Beverage and tobacco products........................... 1.66 1.67 1.69 1.69 (X) (X) (X) (X)

 Textiles.......................................................................... 1.73 1.70 1.71 1.69 (X) (X) (X) (X)

 Textile products......................................................... 1.82 1.86 1.88 1.83 (X) (X) (X) (X)

 Apparel........................................................................ 2.80 2.70 2.69 2.63 (X) (X) (X) (X)

 Leather and allied products................................ 2.27 2.36 2.42 2.41 (X) (X) (X) (X)

 Paper products.......................................................... 1.04 1.04 1.04 1.04 (X) (X) (X) (X)

 Printing........................................................................ 0.90 0.91 0.91 0.90 (X) (X) (X) (X)

 Petroleum and coal products............................... 0.75 0.74 0.74 0.74 (X) (X) (X) (X)

 Chemical products................................................... 1.46 1.45 1.44 1.45 (X) (X) (X) (X)

 Plastics and rubber products................................ 1.32 1.32 1.33 1.35 (X) (X) (X) (X)

Jan3 Jan3 Jan3 Jan3

Industry 2023- 2023- 2023- 2023-

Jan2 Dec Jan2 Dec Jan2 Dec Jan2 Dec

2024 2023 2024 2023 2024 2023 2024 2023

All manufacturing industries.................. (X) 0.2 (X) 0.3 (X) 0.0 (X) 0.1

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

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

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

 Primary metals............................................. -0.1 0.3 -0.2 0.3 -0.1 0.1 -0.1 0.2

 Fabricated metal products.................... 0.0 0.2 0.0 0.3 0.0 0.1 0.0 0.1

 Machinery...................................................... 0.1 0.3 -0.3 0.5 -0.1 0.1 0.1 0.1

 Computers and electronic products..... 0.0 0.2 -0.1 0.4 0.0 0.1 -0.1 0.1

 Electrical equipment, appliances,

 and components..................................... 0.0 0.2 0.0 0.9 0.0 0.3 -0.1 0.3

 Transportation equipment.................... 0.1 0.4 0.0 1.1 0.0 0.1 -0.1 0.1

 Furniture and related products............. (X) 0.2 (X) 0.8 (X) 0.3 (X) 0.4

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

Nondurable goods industries................... (X) 0.3 (X) (NA) (X) (NA) (X) 0.1

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

 Beverage and tobacco products............ (X) 0.3 (X) (NA) (X) (NA) (X) 0.2

 Textiles.......................................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.3

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

 Apparel......................................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.4

 Leather and allied products.................. (X) 0.8 (X) (NA) (X) (NA) (X) 0.4

 Paper products............................................ (X) 0.1 (X) (NA) (X) (NA) (X) 0.2

 Printing.......................................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.5

 Petroleum and coal products............... (X) 1.0 (X) (NA) (X) (NA) (X) 0.5

 Chemical products................................... (X) 0.3 (X) (NA) (X) (NA) (X) 0.1

 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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data 

(Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information on data 

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

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/>.

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential 

source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2024. Information 

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

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

Table 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