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

Seasonally adjusted Not seasonally adjusted
Industry Monthly Percent Change Monthly Percent
change
May Apr. Mar.| Apr-| Mar-| Feb. May Apr. Mar. May| May
1997] 1997" 1997] May| Apr. Mar.|_—1997"| 1997" 1997 1996} 97/96
All manufacturing industries ... . 443,315| 441,508] 438,560] +04] +0.7| 40.2] 447,563] 443,755] 438,034] 434,015] 43.1

Manufacturing industries
with unfilled orders ............ 294,329 | 293,223] 290,967 +0.4 +0.8 +0.2] 298,497] 295,086] 289,639] 289,535 43.1
without defense capital goods. 427,116 | 425,176] 422,294] +05] 40.7) 40.2] 431,170) 427,428] 421,927] 416,863] 43.4

Durable goods industries...
With unfilled orders... .
Stone, clay, and glass products .

278,128] 276,992] 274,633 +04 +0.9 +0.2] 281,495} 278,435) 273,848) 271,624 43.6
254,980] 254,094] 251,944 +03 +09 +0.2] 258,516] 255,478] 250,616} 249,030 4+3.8
8,715 8,683 8,698 +0.4 0.2 02 8,952 8,910 8,887 8,666 +33

Primary metals : 24,683] 24,659] 24,834] 40.1] 0.7] 40.8] 24.697] 24.682] 24.848] 24,177] 42.2
Blast furnaces, steel mills . 12241] 12,184] 12,248] 40.5] 0.5] 41.2] 12,070] 11,979] 12,088] 11,476] +5.2
Iron and steel foundries. . 1,681 1678] 1679] +402) -0.1 02 14726) 94,727) 1,723 1634] +56

Nonferrous and other primary

metals . 10,761] 10,797] 10,907] -03] = -1.0f 40.6] = 10,901] + 10,976 11,037} 11,067] -1.5
Fabricated metal pt : 28,260] 28,228] 28,101 +0.1 40.5 +0.9| 28,678] 28,625] 28,385] 27,532 44.2
Industrial machinery and equipment . | 59,652] 59,387] s8612| +04] 413 0.0} 60,680] 59,793] 58,007] 60,858] -0.3.

Engines and turbines... .. : 3,650] 3,690] 3,641 11} +13] -13] 3,662] 3,640] 3,510] 3,675) -0.4

Farm and garden machinery.

3,230 3,173 3,101 +18 423 03 3,133 3,192 3,296 2,951 +62
Construction, mining and

material handling equipment... . 7,638} 7,623] 7,562] 402] +08} -04} 7,775] 7,746] = 7,666] 7,515] 43.5
Metalworking machinery ....... 7454) 7,481] 7,389] 04] +12] +19] 7551} 7,515} 7,264] 7,275] 43.8
Computer and office equipment ... | 11,933] 11,830} 11,724] 409] +09] = 0.3] + 121434] 11,878] 11,040] 13,896] -10.5

Electronic and other
electrical equipment
Electrical transmission and.
distribution equipment and
industrial apparatus... . .
Household appliances .
Electric lighting and
wiring equipment ............ 3,379 3,346 3,298 +10 +15 0.0 3,463 3,383 3,280 3,342 43.6
Household audio and

39,731 39,540 39,081 +0.5 +12 0.4 40,430 39,889 38,631 39,819 +15

5319} 5,264] 5,211] +10] +10 0.0} 5355} 5266] 5,169) 5,149] +4.0
2,787} 2,783] 2,704] 40.1] 429] = 2.0] 3,004] 2.965] 2.818] = 2,808] -+7.0

video equipment ....... 1537] 1544] 1,576] -05} 9-20] 39] 1,568] 1,530] 511 1,762] -11.0
Communications equipment. 10,536] 10,405] 10,347] +13] +06] +03] 10,859] 10,605] 10,195] 10,160] +69
Electronic components 12,706] 12,776] 12566] -05] 41.7] -0.5] 12,655] 12,671] 12288] 13,131] 3.6

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

65,952 65,735 64,898 +03 +13 +03 66,591 65,754 64,920 60,757 +9.6
17,341 17,102 16,868 +14 +14 +04 17,273 17,081 16,918 16,368 +5.5

space vehicles, and parts. ...... ] 43,904) 43,925] 43,422 oo] +12] +04] 44,592] 43,920] 43,317] 39,566} +12.7
Shipbuilding and tanks . : 1,580 1,687 1,720 63 19 0.0 1,601 1,732 1,749 1,767 94
Instruments and related products --°. | 24'75| 24,694| 24/536] +04) 406] 01] 25031] 24/816] 24,264] 24346) 428
Search and navigation equipment 6216] 6187| 6133] +05) +09 0.0} 6,264] 6,241] 6,030] 5,902] +61
Measuring and controlling devices . 7,756 7,742 7,681 40.2 +0.8 0.1 7,810 7,791 7,652 7,567 43.2
Medical instruments and supplies. 7865] 7810] 7,783) +07) +03] +02} 7944] 7,807] 7.674] 7,463) +64
Photographic goods : 2,308] 2,325) 2311 07| +06] -14] 2361] 2342] 2.280] 2,790) -15.4

All other durable goods . 26,350) 26,066] 25,873] +1.1] 40.7) +03] 26,436] 25,966] 25,906] 25,469] +3.8

Nondurable goods industries 165,187] 164,516] 163,927 40.4 +04 +0.1] 166,068] 165,320] 164,186] 162,391 42.3

With unfilled orders... . . 39,349] 39,129] 39,023 40.6 403 +0.1] 39,981] 39,608] 39,023] 40,505 13
Food and kindred products . 34,943 | 34,929] 34,764 0.0} +05] +02] 33,685] 34,233} 34,431) 33,271 +12
Meat products 3,820] 3,791 3725] +08] +181] +08] 3,904] 3,800] 3,784] 3,827] +2.0

Dairy products . 3,243{ 3,235] 3,193] 40.2] +13] +23] = 3,266] 93,294] 3,113] 2,890] +13.0
Beverages... 6685} 6,664] 6,594) 403] +11 09] 6678] 6,693] 6,603] 6,566] -+1.7
All other foods, except fats and oils | 19292| 19,311] 19192] -01| +06] +01] 17961] 18389] 18734) 18039] -04
Tobacco products’ 6.252] 6.241 6154] +02] 414] 02] 51958] 6.170] 6.228] 5.531] +7.7
Textile mill product 10,159] 10,155 10,077 0.0 +08 +04 10,503 10,442 10,123 10,345 +15
Broadwoven fabrics
other textiles .. 0.00... sees 6,331 6320} 6,281] +02] +06] -02] 6502] 6,469] 6,286] 6,486} +0.2.
Paper and allied products . . . + | 16005] 15,961] 16059] +03) -06] +05] 16,197] 16,180] 16,249] 16,945) 4.4
Pulp, paper, and

paperboard mill products ...... 6,611 6,584 6,578 +04 40.1 08 6,664 6,652 6,675 7,038 53
Paperboard containers and boxes . . 3,930] 3,925] 4001] +0.1 -19] +261 3,938] 3,969] 4,051] 4,116} 43
Miscellaneous converted

Paper products .......... : $464] 5.4521 5,480] +02] = -0.5] +06] 5,595] 5,559] 5,523 5,791 34

Chemicals and allied products os 42,026] 42,013] 41,672 0.0 +08 0.0} 42,576] 42,440} 42,022] 40,803 44.3
Industrial chemicals .... . 19,501] 19,437] 19,514] +03] -0.4] +03] 19.481] 19,395] 19,587] 18,834] +3.4
Drugs, soaps, and toiletries . 17435) 17,466] 16949] -0.2/ 43.1 02] 17,975] 17,647] 16,779] 16,907] +63

Petroleum and coal products 12,530) 12,398] 12,632] +11 -19} +02] 12,928] 12,512] 12,524] 12.278] 45.3

Rubber and plastics products":
All other nondurable goods.

16,236 16,037 15,940 +12 +0.6 +04 16,421 16,328 16,328 15,315 47.2
27,036 26,782 26,629 +0.9 +0.6 0.2 27,800 27,015 26,281 27,903 04

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


10 Total Manufacturing
New Orders and Shipments

Three Month Moving Averages
Billions of Dollars

360 360
New Orders
340
320
300
280
260 L L 1 1 i i L iL i L L 1 L 260
May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May
May. 1995 - May. 1997
Total Manufacturing
Ratio of Unfilled Orders and
Inventories to Shipments
/S Ratios UO/S Ratios
2.5 3.9
24 F----- ere err tee eee ee eee ee ee ee eee vos }-] 3.8
2.3F---- +c rr re er re rr tee ee ee eee ee eee eee us | 3.7
2.2F---- 7 tr tt er re ee re re ee ee ee eee eee 43.6
21 --- 72 ee rr er ee ee ee ee ee ee ee eee ee eee 4 3.5
2

1.9
1.8
1.7
1.6
1.5
1.4
1.3

1.2 a L L i L L 1 . L 1 L i L 2.6
May Jul Sep Nov Jan Mar May Jui Sep Nov Jan Mar May

May. 1995 - May. 1997

Note: All Charts based on seasonally
adjusted current dollars.



7
Table 6. VALUE OF MANUFACTURERS’ UNFILLED ORDERS AND TOTAL INVENTORIES
FOR TOPICAL SERIES!
(Millions of dollars)
Seasonally adjusted Not seasonally adjusted
Industry Monthly Percent Change Monthly Percent
change
May Apr. Mar. | Apr | Mar~ | Feb. May Apr. Mar. May | May
19977 | 1997" 1997 | May | Apr. | Mar. | 19977 | 1997" 1997 1996 | 97/96
UNFILLED ORDERS
All manufacturing industries... . . 521,995 | 522,214 | 523,579 0.0 03 0.3 | 525,621 | 527,593 | 527,661 | 502,174 44.7
Market categories :
Automotive equipment . 2,379 2,402 2,404 +10 0.1 +2.0 2,352 2,441 2,447 2,225 45.7
Home goods and apparel 8,226 8,006 8,102 42.7 -12 25 8,809 8,359 8,150 9,921 112
Consumer staples . 2,193 | 2227 | 2160 “15 3.1] +112 | 2,083 | 2103 | 2,000} 1889 | +103
Machinery and equipment 231,834 | 233,273 | 234,631 0.6 0.6 -0.2 | 232,478 | 233,786 | 234,669 | 224,247 43.7
Business supplies . . 6919 | 6850 | 6740] +10] +16] 433] 7151 | ~ 6867 | 6650 | — 6705 46.7
Construction materials
and supplies. . 16,801 | 16,504 +04] +18 0.1 | 17,059 | 16,978 | 16,633 | 15,989 +6.7
Defense products : 104,319 | 104,386 0.7 0.1 -1.3 } 104,732 | 106,694 | 107,145 | 104.281 +04
Other materials, supplies and
and intermediate products ..... . 149,988 | 148,336 | 148,652 +11 0.2 -0.1 | 150,957 | 150,365 } 149,967 | 136,917 | +103
Durable goods industries :
Nondefense capital goods* ...... 251,472 | 253,136 | 255,045 0.7 0.7 0.2 | 251,591 | 253,278 | 255,077 | 241,704 44.1
Excluding aircraft and parts. 98,273 | 98,149 | 98,001 +0.1 40.2 +0.9 | 98,392 | 98,291 98,033 | 96,382 42.1
Defense capital goods* ........ 108,379 | 109,210 | 109,358 08 01 1.2 | 109,568 | 111,720 | 112,186 | 109,028 40.5
Durables excluding capital goods 136,659 | 134,325 | 133,638 +17 [+05 0.4 | 138,304 | 136,541 | 134,797 | 126,874 49.0
Miscellaneous series :
Producers’ durable equipment . 268,659 | 270,199 | 271,206 0.6 04 0.0 | 269,257 | 270,611 | 271,159 | 260,280 434
Household durable goods . . 5,622 5,393 5,355 +42 +0.7 15 5,888 5,470 5,313 6,225 5.4
Information technology industries . 37,664 | 37,434 | 37,615 +0.6 05 +0.7 | 37,798 | 37,190 | 37,130 | 37,337 +12
Health care equipment
and products... 2... 1... 8,121 8,058 | 7,739 | +08] +41 “1S | 8,049 | 7,931 7,585 | 7,463 479
TOTAL INVENTORIES
All manufacturing industries 443,315 | 441,508 | 438,560 | +04] +0.7 | +02 | 447,563 | 443,755 | 438,034 | 43415 43.1
Market categories :
Automotive equipment . 8,449 8,319 8,182 +16 +17 40.3 8,510 8,386 8,295 8,218 43.6
Home goods and apparel 31,864 | 31,693 | 31,471 | +05] +07 0.0 | 33,062 | 32,168 | 31,341 | 32,487 +18
Consumer staples . . 68,756 | 68,613 | 67,888 | +02} +11 | +401 | 68237 | 68195 | 67338 | 65,983 434
Machinery and equip 111,099 | 110,570 | 109,186 | +05 | +13 | +03 | 113,120 | 111366 | 108483 | 106701 +60
Business supplies .... . . 26,451 | 26,263 | 26290 | +07] -01 | +03 | 26823 | 26585 | 26362 | 26335 +19
Construction materials
‘and supplies... . 27,284 | 27,092 | 26,954 40.7 | 40.5 +0.1 | 27,597 | 27,408 | 27,290 | 26,681 43.4
Defense products . 15,933 | 16,062 | 15,944 | 08] +407] -15 | 16,099 | 16,060 | 15810 | 16664 34
Other materials, supplies and
and intermediate products ..... . 153,479 | 152,896 | 152,645 +041 402 | +03 | 154,115 | 153,587 | 153,115 | 150,946 42.1
Durable goods industries :
Nondefense capital goods * . 104,983 | 104,545 | 103,297 404] 412 +0.3 | 107,094 | 105,281 | 102,293 | 100,793 +63
Excluding aircraft and parts 71,098 | 70,732 | 69,949 40.5 +11 0.1 72,709 | 71,448 | 68,940 | 72/552 40.2
Defense capital goods‘ ....... 16,199 | 16,332 | 16,266 | -0.8| +04] -1.6 | 16393 | 16327 | 16107 | 17152 44
Durables excluding capital goods 156,946 | 156115 | 155,070 | +05] +07 | +03 | 158,008 | 156,827 | 155:448 | 153,679 428
Miscellaneous series :
Producers’ durable equipment 180,514 | 179,428 | 177,252 +06 +12 +0.3 | 183,245 | 180,656 | 176,508 | 174,273 +5.1
Household durable goods . . 15,950 | 15,871 | 15,743 +05] +08 0.3 | 16,406 | 16,037 | 15,719 | 15,862 43.4
Information technology indust 34,547 | 34,308 | 34.081 40.7 +0.7 0.1 35,495 | 34,676 | 33,174 | 36,434 2.6
Health care equipment
and products 17,326 | 17,282 | 16,980 | +03] +18 0.0 | 17,695 | 17,377 | 16,783 | 16,634 +64

See footnotes at end of table 5.

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


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

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

May} Apr.| Mar. | Apr. | Mar.-| Feb-| May] Apr.|  Mar.| May | May
1997"| 1997} 1997] May] Apr.| Mar.} 1997°] 1997") 1997] 1996] 97/96 | 19977] 1996

SHIPMENTS

All manufacturing industries 323,535] 326,909} 322,923} -1.0]  +1.2} 0.0} 325,098] 325,134) 337,516] 315,731 +3.0} 1,597,828 }1,511,642

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

and supplies. .
Defense products

13,570} 14,146} 13,863] 4.1] +2.0] -1.6{ 14,570] 15,198] 14,812] 15,502 6.0 73,634] 71,310
18,798} 19,234) 18,604) -2.3) +3.4) -2.1] 17,728] 18,030) 19,456) 17,358 +21 89,471] 85,124
68,802] 68,469} 68,092] +0.5} +0.6] -0.5] 68,303] 66,262} 68,207] 66,296) +3.0] 333,623] 318,438
58,305] 58,645} 58,058] -0.6]  +1.0) +2.9) 57,662] 57,244] 65,157] 54,701 +5.4] 282,630] 261,046
25,060] 25,073] 24,955] -0.1} +05] -L.l] 25,136] 25,728] 25,056) 24,614) +2.1} 123,806} 119,016

20,671) 21,045} 20,437] -1.8) +3. 0.8] 21,161] 21,154] 20,364] 20,176] +4,9) 100,052} 92,609
6,617) 6,750) 6,660) -2.0) +14) -3.5} 6,431 6,415) 7,011 6,241 +3.0) 32,123] 30,701

Other materials, supplies and
and intermediate products ...... | 111,712) 113,547] 112,254] -1.6) +1. 0.0} 114,107) 115,103) 117,453} 110,843) +29) 562,489} 533,398
Durable goods industries :
Nondefense capital goods? ...... 45,582) 45,660] 44,927) -0.2) +1.6) +34} 43,592} 42,903] 51,618] 40,345] +8.0] 214,180} 196,717
Excluding aircraft and parts . . 38,562] 38,422] 38,271] +04] +04) 42.1] 36,966] 35,733] 44,117] 34,591] +69] 182,757] 172,872
Defense capital goods‘ ........ 6,288] 6,419} 6,268] -2.0] +2.4)  -4.1) 6,101] 6,020} 6,600] 5,878) +3.8] 30,190] 28,789
Durables excluding capital goods . | 124,151) 126,403] 125,029] 1.8] +1.1] +0.1] 127,460] 128,864] 131,056] 124,527] +2.4] 627,498] 588,029

Miscellaneous series :
Producers’ durable equipment ... . | 112,233] 113,987] 112,178] -1.5|
Household durable goods ....... 9,483) 9,566] 9,565] -0.9]
Information technology industries . | 21,506} 21,157] 21,484) +1.6|
Health care equipment

+0.8) 113,048] 113,763) 123,055] 110,388) 42.4) 559,544) 524,721
+03] 9,077{ 9,109} 10,388] 8,760; 43.6} 45,383} 42,343
+2. 19,911] 18,286] 25,437] 18,343} +8.5 98,886] 91,587

and products .............. 11,032] 10,977) 10,794) +0.5]  +1.7]  -0.6{ 10,432] 10,343) 11,317) 9,821 +6.2 53,115] 49,214
NEW ORDERS
All manufacturing industries... .. 323,316] 325,544) 321,146} -0.7) +14) — -1.7] 323,126) 325,066] 336,218] 316,493 +2.1] 1,611,230 |1,536,782

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

and supplies .....
Defense products
Other materials, supplies and

13,548] 14,144) 13,911 42) +17) -1.4) 14,480] 15,191] 14,842) 15,438] 6.2 73,781) 71,299
19,018] 19,139] 18,392} -06) 44.1) -2.4) 18,178] 18,239] 19,492] 17,465) +4.1) 90,773] 87,543
68,768] 68,536] 68,309] +0.3) +0.3] +0.2] 68,284] 66,365] 68,339} 66,379] +2.9) 333,549] 318,447
56,866] 57,288] 57,534) -0.7]  -0.4]  -2.8] $6,354] 56,361] 63,780] 56,964) 1.1] 286,536] 276,962
25,129] 25,183) 25,172] -0.2 0. +0.6] 25,419} 25,945] 25,298} 24,824 +24) 124,346] 119,381

20,732) 21,342) 20,421) -2.9) +4.5]  -0.4) 21,242] 21,498] 20,371 20,161 +5.4) 100,983} 93,154
5,892] 6,683) 5,245] -11.8] +274) -13.6} 4,469] 5,965] 7,956] 5,282] -15.4| 29,749] 35,293

and intermediate products ..... . 113,363] 113,229] 112,162] +0.1] +1.) -2.1] 114,700} 115,502} 116,140] 109,980] +4.3] $71,513] 534,703
Durable goods industries :

Nondefense capital goods ? . . . 43,918] 43,751] 44,505] +04) 1.7] -3.8] 41,905] 41,104] 50,171] 42,502] -1.4] 216,248] 212,068

Excluding aircraft and parts 38,686] 38,570] 39,157] +03] 1.5] -1.7} 37,067] 35,991] 43,978] 34,208] +8.4) 187,374] 175,605
Defense capital goods * 5,457] 6,271] 4920] -13.0] +275] -14.7] 3,949] 5.554] 7,660] 4,808] 17.9] 28.080] 33.515

Durables excluding capital goods . | 126,485] 127,090] 124,519} 0.5] +2.1] 1.8} 129,223] 130,608] 129,077] 123,933] +43] 639,429] 591,545

Miscellaneous series :
Producers’ durable equipment
Household durable goods . .
Information technology industri
Health care equipment
and products ..............- 11,095} 11,296} 10,678] 18) -+5.8) =1.6) 10,550] 10,689} 10,811] 10,018) +53 53,708} 49,332

110,693] 112,980] 112,078] -2.0} +0.8) = -2.1] 111,694] 113,215} 121,538] 112,624 0.8) 565,791} 540,672
9,712} 9,604) 9,484) +11] +13) -1.7] 9,495] 9,266} 10,316) 8,858] +72) 46,471] 43,608
21,736] 20,976} 21,742] +3.6) -3.5]  -3.7] 20,519] 18,346] 25,450) 17,886] +14.7] 101,594] 92,416

” Preliminary. ‘ Revised.

' Topical series are regroupings of the separate industry categories.

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

> Nondefense capital goods industries include : ; Steam, gas and hydraulic turbines; internal combustion engines; construction, mining, and mat:
handling equipment; metalworking machinery: machinery; general industrial machinery; computer and office equipment; refrigeration, heating and ser

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

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

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


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

Inventory / Shipments ratio Unfilled Orders / Shipments ratio’
Industry May Apr. Mar. Feb. May Apr Mar. Feb.
1997" 1987 1997 1997 197° 1997" 1997 1997
All manufacturing industries... . . 137 135 136 136 2.89 2.86 2.90 2.93
Durable goods industries .......... 1.58 135 1.56 157 3.43 3.40 3.44 3.49
Stone, clay, and glass products Lis 114 116 LIS 0.95 0.95 095 0.93
Primary metals 1.63 1.60 1.63 1.61 2.04 197 197 1.94
Fabricated metal products 152 149 152 1.49 1.45 143 1.45 1.43
Industrial machinery and equip: 1.80 178 1.79 1.82 2.39 237 2.40 2.43
Electronic and other

electrical equipment . 139 139 133 138 1.88 1.82 1.78 187
Transportation equipment 161 135 158 158 11.28 11.08 172 11.92
Instruments and related prod 195 191 191 190 3.69 3.65 3.65 3.63
Nondurable goods industries . . 112 Li 1.12 LiL 0.70 0.71 0.71 0.69
Food and kindred products 087 0.87 0.87 0.87 (X) &) (x) (X)

Tobacco products. . : 1.96 2.04 1.99 2.06 ) ) &)
Textile mill products 149 148 148 1.47 (NA) (NA) (NA) (NA)
Paper and allied products. . 120 118 122 120 (NA) (NA) (NA) (NA)
Chemicals and allied products 128 127 130 1.28 tea) &) % ®)

Petroleum and coal products 0.85 0.83 0.83 0.80 (x) x) x)
Rubber and plastics products . 1.32 1.26 1.30 1.28 (xX) (x) (0.4) &)

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

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

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

Shipments New orders Unfilled orders Inventories
Industry
May Mai May May
May? | 1996- May? | 1996- May? | 1996- May? | 1996-
May! | 1992-] Apr. | May! | 1992-] Apr. | May! | 1992-] Apr. | May' | 1992] Apr.
1997] 1996] 1997] 1997} 1996} 1997| 1997] 1996} 199 1997] 1996 | _ 1997
All manufacturing industries ..... ® 01 0.1 ® 0.5 02 (e9) 01 01 (ee) 01 0.0
Durable goods industries .......... -0.2 0.2 0.2 0.1 09 04 0.0 0.1 0.1 (es) 0.1 0.1
Stone, clay, and glass products . : (ee) 08 05 (x) Ll 09 (X) 0.5 0.6 (X) 01 02
Primary metals ........ 0.0 03 03 05 1.0 08 0.3 04 04 (X) 01 0.0
Fabricated metal products (X) 0.5 03 (xX) 09 0.6 (xX) 03 04 (X) 04 01
Industrial machinery and equip 0.6 06 0.5 -0.5 07 0.5 01 01 0.1 (xX) 02 01
Electronic and other

electrical equipment 02 04 05 0.4 05 10} 04 0. 05 rea) 0. 02
Transportation equipme Ol 06 04 03 33 im 0.0 02 02 & 02 oO.
Instruments and related pi (Xx) 13 04 () 1.0 1.0 (X) 0.2 03 (x) 01 02
Nondurable goods industries . (Xx) 0.1 01 x) 0.2 01 &) 0.3 0.2 & 02 01
Food and kindred products . (xX) 07 02 8 (Xx) ) (X) &) (xX) (X) 07 02
Tobacco products ...... ® 56 01 &) & & (x) & & (x) 04 0.0
Textile mill products . (X) 02 03 (xX) | NA) | (NA) (X) | (NA) | (NA) (X) 03 02
Paper and allied products & 02 02 (&) |] (NA) | (NA) (| a) ] (Na) &) 02 01
Chemicals and allied products . (xX) 03 (X) (X) (X) (X) & (xX) of 0.2 Ol
Petroleum and coal products oe (x) 02 (X) (X) (X) (x) & (X) X) 05 04
Rubber and plastics products ...... (x) 04 (Xx) (X) (x) (x) (x) (x) &) 01 0.1

Capital goods industries :
Nondefense 03 0.7 04 03 21 06 0.0 01 0.1 (x) 0.1 0.1
Defense ... 01 18 0.6 0.2 117 46 0.1 04 03 (x) 05 02

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

Note : The five year and the twelve month revisions are the differences between the month-to-month percent changes of the preliminary and final estimates. The
monthly averages are the simple averages of the absolute values of the differences for the months specified. The advance to final percent change revisions for the
durable goods industries are shown in the advance report for the month.

' The current month revisions are the difference between the advance percent change and the percent change as shown in this publication,
? Average for this month for the last five years.

Rae mate at and nF inbta 9 on



CURRENT INDUSTRIAL REPORTS

co
By

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

Manufacturers’ Shipments,
Inventories, and Orders

(97).
For Wire Transmissions 10:00 a.m. E.D.T. July 2, 1997

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

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

Summary

New orders for manufactured goods in May decreased $2.2 billion or 0.7
percent 10 $3233 billion, the Department of Commerce, Bureau of the
Census reported today. This follows a 1.4 percent April increase and is the
second decrease in the last three months. Excluding transportation, new
orders decreased 0.4 percent, following a 1.2 percent April increase. Year
to date, new orders are 5.0 percent above the same period a year ago

Shipments, down two of the last three months, decreased $3.4 billion or
1.0 percent to $323.5 billion, following a 1.2 percent April increase. Year
to date, shipments are 5.8 percent above the same period a year ago.

Unfilled orders, down for the third consecutive month, decreased $0.2
billion to $522.0 billion, following a 0.3 percent April decrease. The
unfilled orders-to-shipments ratio was 2.89, up from 2.86 in April.

Inventories, up ten of the last eleven months, increased $1.8 billion or
0.4 percent to $443.3 billion, following a 0.7 percent April increase. The
inventories-to-shipments ratio was 1.37, up from 1.35 in April.

New Orders

New orders for manufactured durable goods in May decreased $1.3
billion or 0.7 percent to $175.9 billion, revised from the previously published
0.6 percent decrease. This follows a 1.8 percent April increase and is the
second decrease in the last three months.

Transportation equipment, down three of the last four months, had the
largest decline, $1.2 billion or 3.0 percent to $38.5 billion, due to motor
vehicles and parts and aircraft and parts. This follows a 2.8 percent April
increase. Instruments and related products, down two of the last three
months, decreased $1.0 billion or 7.7 percent to $12.2 billion. This follows
a 25 percent April increase. Fabricated metal products, also down two of
the last three months, decreased $0.8 billion or 4.0 percent to $18.5 billion,
following a 3.7 percent April increase. Industrial machinery and equipment,
down two of the last three months, decreased $0.5 billion or 1.5 percent to
$33.4 billion. This follows a 3.0 percent April increase. Primary metals,
down for the first month since October, decreased $0.3 billion or 1.9 percent
to $15.6 billion, following a 2.4 percent April increase. Electronic and other
electrical equipment, up following two consecutive monthly declines,
increased $2.8 billion or 10.0 percent to $30.7 billion, due to electronic
gomponents and communication equipment. This follows a 3.2 percent Apri

jecrease,

New orders for nondurable goods, down three of the last four months,
decreased $1.0 billion or 0.7 percent to $147.5 billion, following a 0.8
percent April increase. Paper and allied products, rubber and plastic
products, and apparel and related products had the largest decreases

Shipments

Shipments of durable goods in May, down for the first month since
December, decreased $2.5 billion or 1.4 percent to $176.0 billion, revised
from the previously published 1.2 percent decrease. This follows a 13
percent April increase.

Transportation equipment, down for the first month since December, had
the largest decrease, $1.4 billion or 3.3 percent to $41.0 billion, mostly due

to motor vehicles and parts. This follows a 3.3 percent April increase.
Fabricated metal products declined $0.4 billion or 2.0 percent to $18.6
billion, following a 2.6 percent April increase. This is the second decline in
the last three months. Primary metals, down two of the last three months,
decreased $0.3 billion or 1.7 percent to $15.2 billion, following a 1.4 percent
April increase. Instruments and related products, down two of the last three
months, declined $0.2 billion or 1.9 percent to $12.7 billion, following a 0.7
percent’ April increase. Industrial machinery and equipment, down for the
first month since January, decreased $0.2 billion or 0.5 percent to $33.2
billion, following a 1.9 percent April increase. Electronic and other
electrical equipment, up three of the last four months, increased $0.2 billion
or 0.5 percent to $28.6 billion, following a 3.4 percent April decrease.

Shipments of nondurable goods, down three of the last four months,
decreased $0.9 billion or 0.6 percent to $147.5 billion. This follows a 1.3
percent April increase. Rubber and plastic products and apparel and related
products had the largest declines.

Unfilled Orders:

Unfilled orders for durable goods in May decreased $0.2 billion to
$496.5 billion, unrevised from the previously published slight decrease. This
follows a 0.3 percent April decline and is the third consecutive monthly

lecline.

Transportation equipment, down for the fourth consecutive month, had
the largest decrease, $2.4 billion or 1.0 percent to $250.5 billion, mostly due
to aircraft and parts. This follows a 1.0 percent April decrease. “Instruments
and related products, down for the first month since October, decreased $0.4
billion or 0.9 percent to $46.8 billion. Electronic and ‘other clectrical

ipment had the largest increase, $2.0 billion or 3.9 percent to $53.9
billion, following decreases of 1.1 percent in April and 1.3 percent in March.
Primary metals, up for the fifth consecutive month, increased $0.4 billion or
14 percent to $30.9 billion, following a 1.6 percent April increase.
Industrial machinery and equipment, up for the fifth consecutive month,
increased $0.2 billion or 0.3 percent to $74.5 billion, following a 0.7 percent
April increase.

Inventories

Inventories of durable goods in May, up ten of the last eleven months,
increased $1.1 billion or 0.4 percent to $278.1 billion. This follows a 0.9
percent April increase. Industrial machinery and equipment, up four of the
last five months, increased $0.3 billion or 0.4 percent to $59.7 billion. This
follows a 1.3 percent April increase. Transportation equipment, up for the
seventeenth consecutive month, increased $0.2 billion or 0.3 percent to $66.0
billion. This follows a 1.3 percent April increase. Electronic and other
electrical equipment, up three of the last four months, increased $0.2 billion
or 0.5 percent to $39.7 billion, following a 1.2 percent April increase.

Inventories of nondurable goods, up_nine of the last ten months,
increased $0.7 billion or 0.4 percent to $165.2 billion, following a 0.4
percent April increase, Rubber and plastic products, printing and publishing,
and petroleum and coal products had the largest increases.

By stage of fabrication, May finished goods increased 0.6 percent in
durabies and 0.3 percent in nondurables. Work in progress increased 0.3
percent in durables and 1.7 percent in nondurables. Materials and supplies
increased 0.4 percent in durables and decreased slightly in nondurables.

NOTE: The data in this press release are consistent with the revised historical series released June 18, 1997. A report which includes these data from 1987 through 1996 is available on our
internet site, on STAT-USA, on diskettes, or from Census Bureau's customer services. Please call (301) 457-4100 to order the book, or (301) 457-1227 to order diskettes. Our internet site

address is: http://www.census.gov/ftp/pub/indicator/www/m3/index.htm

‘The advance report on durable goods for June is scheduled for July 25, 1997 at 8:30 a.m. and the full report on August 1, 1997 at 10:00a.m. For sale by the Superintendentof Documents,


Nondefense Capital Goods 11
New Orders and Shipments
Three Month Moving Averages
Billions of Dollars

52, -------- +r re ee ee ee ee ee ee eee ee ee ee eee New Orders |—4 52

‘Shipments

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

Defense Capital Goods
New Orders and Shipments
Three Month Moving Averages
Billions of Dollars

10 10
a now ores] | 4
‘Shipments

8

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

Note: All Charts based on seasonally
adjusted current dollars.


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

(Millions of dollars)

‘Seasonally adjusted

Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent
change
May Apr. Mar. | Apr.- | Mar- | Feb May Apr. Mar. May | May
1997" 1997" 1997 | May | Apr. | Mar. | 19977 | 1997" 1997 1996 | 97/96
MATERIALS AND SUPPLIES
All manufacturing industries... . . 146,468 | 146,133 | 146,139 | +02 0.0 | +06 | 146,089 | 145,690 | 145,262 | 146,226 0.1
Durable goods industries . . 85,413 | 85,066 | 84,982 +01 | +10 | 84,987 | 84,274 | 83,870 | 84,989 0.0
Stone, clay, and glass pro‘ 895 | 2.917 | 2,887 +10 | 04 | 2892 | 2889 | 2856 | 2,831 422
Primary metals 1904 | 71946 | 7,962 02] +05] 7719] 7714] 7,731 7447 43:7
Fabricated metal pr : 10,283 | 10,430 | 10,482 05 | +11 | 10,235 | 10,395 | 10,452 } 10,160 +07
Industrial machinery and equipment | 17,992 | 17,805 | 18,070 -15 | +15 | 18146 | 17/609 | 17,648 | 19,365 63
Electronic and other
electrical equipment 13,747 | 13,651 | 13,567 +06 | +28 | 13,746 | 13,693 | 13,420 | 14,016 19
Transportation equipment . :. | 14189 | 14181 | 14,038 +10 0.0 | 14,233 | 14.242 | 14,040 | 13,839 +28
Instruments and related products : . - 8182 | 8,091 8,060 +04] +406 | 8234 | 8106 | 8013 | 7,823 453
Lumber, furniture and
miscellaneous durable goods .. . . . 10,221 | 10,045 | 9,916 +13 0.0} 9,782 | 9,626 | 9,710 | 9,508 42.9
Nondurable goods industries . . 61,055 | 61,067 | 61,157 0.1 0.1 | 61,102 | 61,416 | 61,392 | 61,237 02
Food and Kindred products 11195 | 11,256 | 11355 9 | 09] 10981 | 11.274 | 11481 | 11,437 4.0
Tobacco products ....... 1229 | 51230 | 51135 +19 | 405 | 5,12 5305 | 5,296 ,774 474
Textile mill products: . : 3148 | 3,208 | 3,226 06} +19} 3,238 | 3,275 | 3,253 | 3,030 | +69
Paper and allied products . 7/856 | 7,870 | 7,907 05 | +01 | 7845 | 7/895 | 7/935 | 8,266 5.1
Chemicals and allied products 14,103 | 14,148 | 14,119 +02} +401 | 14,224 | 141180 | 14/060 | 13,818 42.9
Petroleum and coal products 3,672 | 3,610 | 3,737 34] +01 | 3,754] 3,705 | 3,758 | 3,503 +72
Rubber and plastics products 6260 | 6217 | 6,186 +05} 02] 6268] 6257] 6214 | 6,058 435
Apparel, printing and publishi
and leather goods............. 9,592 | 9,528 | 9,492 +04] 03 | 9,663 | 9,525 | 9,395 | 10,351 66
WORK IN PROCESS
All manufacturing industries... . . 140,676 | 139,918 | 138,856 | +05] +08] +03 | 141,684 | 140,007 | 138,359 | 134,775 45.1
Durable goods industries... . . 112,847 | 112,555 | 111,780 | 403 | 40.7 | +03 | 114,020 | 112,832 | 111,491 | 108,736 +49
Stone, clay, and glass products 1264 | 1,251 1272] +10) -17 | 1321 1,314 1,358 1,290 42.4
Primary metals : 8,796 | 81778 | 8809 | +02] -04] +03} 8846] 8829 | 8878 | 8834 40.1
Fabricated metal products : | gois | 7398 | 7805 | +15] +12] +01 8.098 | 7927 | 7.805 | 7,869 429
Industrial machinery and equipment | 22,699 | 22;906 | 22,487 09} +19 | +09 | 23,051 | 23,042 | 22,256 | 22,962 40.4
Electronic and other
electrical equi 14,711 | 14,649 | 14,686 | +04] -03 | -10} 14,916 | 14,708 | 14,673 | 14,973 -0.4
Transportation equipment . | 42/320 | 42087 | 41;714 | +06] +09 | +08 | 42/621 | 41/891 | 41,595 | 37,673 | +131
Instruments and related products .: | 10,001 | 10,007 | 91977 0.1} +03 | -08 | 10,074] 10115 | 91880 | 9/955 +12
Lumber, furniture and
miscellaneous durable goods .. . . . 3041 | 4979 | 5,030] +12] -10] +04] 5,093] 5,006] 5,046 | 5,180 “17
Nondurable goods industries . 27,829 | 27363 | 27,076 | +17] +11 27,664 | 27,175 | 26,868 | 26,039 +62
Food and Kindred products 2089 950 | 4919 | 428] +06 ,645 | 4,675 | 4.830 | 4,367 +64
‘Tobacco products . . . 224 217 239 | +32) -92 163 164 206 16: 0.0
Textile mill products . 2,582 | 2,542 | 2,490] +16] +21 2617 | 2,572 | 2,494 | 2,650 12
Paper and allied products. - 1,692 1,676 1685 | +10]  -05 1,723 1696 1,689 1,701 +13
Chemicals and allied products 7427 | 7331 Fos | +13] 433 7558 | 73311 7037 | 6.783 | +114
Petroleum and coal products 2744. | 2775 | 2/811 AL] -13 2825 | 2812 | 2807 | 2,713 +411
Rubber and plastics products 2,253 | 2174 | 2166 | +36] +04 2258 | 21585 | 2172 | -2025 | +115
Apparel, printing and publishi
and leather goods ....... 5818 | 5,698} 5,671 | +21] +05 5.875 | 5,790 | 5,633 | 5,637 +42
FINISHED GOODS
All manufacturing industries 156,171 } 155,457 | 153,565 | +05] +12] -04 | 159,790 | 158,058 | 154,413 | 153,014 +44
Durable goods industries. . . 79,868 | 79,371 | 77,871 +06] +19 -1.0 | 82,488 | 81,329 | 78,487 | 77,899 45.9
Stone, clay, and glass produc 4556} 4515 | 4539] +09} -05 | +01] 4,739 | 4,707 | 4673 | 4,545 +43
Primary metals -.. . 7983 | 7935 | 8063 | +06] -16} +17] 8132 | 8139} 8,239 "896 43.0
Fabricated metal pr : J | 9962 | 9900 | 9814 | +06] +09] +14] 10345 | 10,303 | 10,128 | 9,503 489
Industrial machinery and equipment | 18,961 | 18,676 | 18,055 | +15 | +34 | -27 | 19,483 | 19,142 | 18,103 | 18,531 45.1
Electronic and other
electrical equipment . . . . 11,273 | 11,240 | 10,828 | +03} +38] -35 | 11,768 | 11,488 | 10,538 | 10,830 48.7
Transportation equipment . . 9443 | 9467 | 9.146 03} 435] 20] 91737 | 91621 | 9285 | 9,245 453
Instruments and related products . 6.602 | 6596 | 6499] +01] +15 00 | 6723 | 6595 | 6,371 6.568 42.4
Lumber, furniture and
miscellaneous durable goods .. . . 11,088 | 11,042 | 10927] +04] +11] +405] 11,561 | 11,334 | 11,150 | 10,781 +72
Nondurable goods industries ....... 76,303 | 76,086 | 75,604 | +03] +05] +03] 77,302 | 76,729 | 75,926 | 75,115 +29
Food and kindred products :-:.:.: | 18,659 | 18,723 | 18,490 03 | +13 | +14] 18,059 | 18,284 | 18120 | 17,467 +34
Tobacco products. . 799 794 78 +06] +18} -59 666 701 726 594] +121
Teale mill products 4429 | 4405 | 4361 | +05] +10] +402 | 4,648] 4595 | 4376 | 4,665 0.4
Paper and allied products . 6457 | 6415 | 6467 | +07] -08 | +11 6,629 | 6,589 | 6.625 | 6,978 5.0
Chemicals and allied products 20,496 | 20,534 | 20,458 -02 | +04] -0.7 | 20,794 | 20949 | 20,925 | 20,202 42.9
Petroleum and coal products 611 3013 | “6084 | +17] -12 | +0.7 | “6349 | 5995 | 5,959 | 6,062 447
Rubber and plastics products |... | 7,723 | 7,646 | 7,588 | +10] +08] +04] 7,895 | 7,916] 7,942 | 7,232 49.2
Apparel, printing and publishing
and leather goods... . os. | 11626 | 11,556 | 11466] +06] +08} -0.1 | 12,262 | 11,700 | 11,253 | 11,915 42.9

? Preliminary. ‘ Revised.

Can nate nt and nF tahle 7 ralating ta cnmay arene and ravicion


Table 3. VALUE OF MANUFACTURERS’ UNFILLED ORDERS FOR INDUSTRY GROUPS
(Millions of dollars)

‘Seasonally adjusted

Not seasonally adjusted

Industry Monthly Percent Change Monthly Percent
change
May Apr. Mar.|  Apr-| Mar] Feb.- May Apr. Mar. May| May
1997°| 1997" 1997] May} = Apr.|_ Mar.| 19977] 1997" 1997 1996] 97/96
All manufacturing industries... . . 521,995 | 522,214] 523,579 0.0 03 0.3] 525,621] $27,593] 527,661] 502,174 44.7
Manufacturing industries
without defense capital goods ..... 413,616 | 413,004| 414,221 40.1 0.3 -0.1] 416,053] 415,873] 415,475] 393,146} +58
Durable goods industries ......... 496,510 | 496,671} 498,041 0.0 0.3 0.5] 499,463} 501,539] 502,060| 477,606 44.6
Stone, clay, and glass products 6899] 6843} 6,786] +08] +08] +12) 7,051 6,960] 6,868] 7,049 0.0
Primary metals : 30,884] 30,445} 29.966] +14] +16) +11] 31,549] 31,664] 31,382] 28,931] +9.0
Blast furnaces, steel mills . 12411] 12,267| 11,993] +12] 423] -10] 12,808] 12,828] 12,582] 12,624] +15
Iron and steel foundries vee 4677| 4627] +19] +11] +24] 4.840] 4.841] 4,818] = 4,030] 420.1
Nonferrous and other primary
metals : 13,709] 13,501] 13,346] +15] +12] +25] 13,901} 13,995] 13,982} 12,277] #13.2
Fabricated metal products 25,369] 25,449] 25.133] -03] +13] = +0.4] 25,431] 25,534] 25,199] 23,097) +10.1
Industrial machinery and e 74454] 74,265] 73,.727| +03) +0.7| +03] 74,414] 74,224) 73,707) 72,208] 43.1
Engines and turbines 12,172] 12,535} 12,692] -2.9] -1.2] +4.) 11621] 12,004) 12,427] 11,333] #25
Construction, mining
material handling e 9,047] 9,106] 9,017] -06} = +1.0] -+0.7] 9,255] 9,464) 9,417] 9,078] 41.9
Metalworking machinery ..... 8,641 8,767 8,560 14 +24 -0.6 8,641 8,767 8,560 8,655 -0.2
Computer and office equipment . . . 9,723 9,602 9,734 413 14 22 9,849 9,356 9,229 9,552 43.1
Electronic and other
electrical equipment ........... 53,852] 51,808] 52,409 $3.9 ll -13] 54,228] 52,467] 52,046] 49,860 +8.8
Electrical transmission and
distribution equipment and
industrial apparatus... . 6,784] 6,779} 6740] +01] +06] +19) 6,811 6853| 6830} 6,126} +112
Electric lighting and
wiring equipment 4,496 4,505 4,383 0.2 42.8 2.0 4,496 4,505 4,383 4,094 49.8
Communications equipment 14,242] 13,873] 13,878] +2.7 0.0} 423] 14,242] 13,888} 13,881] 14,260) -0.1
Electronic components . . 22/3451 20,630) 21,484] +831 4.0] 5-4] 22,680) 21,226] 21,085] 20,135] +12.6
Transportation equipment . . 250,533 | 252,982] 255,611 10] -10] — -0.9] 251,514] 255,468] 258,204] 241,586] +4.1
Aircraft, missiles,
space vehicles, and parts. . 218,753 | 220,976] 223,003 -1.0 0.9 11] 219,834] 223,209] 225,300} 210,747 +43
Shipbuilding and tanks . . 18,422] 18,513] 18,736 05 12 -1.6] 18,479] 18,556] 18,724] 18,129 +19
Instruments and related products .... | 46,830] 47.277] 46.952|  -09| + +0.7| 40.2] 46,948] 47,489] 47.458} 46,588] 40.8
Search and navigation equipment. 27,415] 28,022} 28,036 22 0.0 +0.6| 27,523] 28,284] 28,564] 28,550 3.6
Measuring and controlling devices . 9,966 9,943 9,967 +02 0.2 0.0 9,966 9,943 9,967 9,677 43.0
Medical instruments and supplies . 8,085 8,022 7,105 +0.8 +41 15 8,012 7,895 7,552 7,434 +78
All other durable goods .......... 7689] 7,602| 7,457] +11] +19 00} 8328] 7,733) 7,196] 8,287] 40.5
Nondurable goods industries ....... 25,485) 25,5431 25,538 0.2 0.0 42.01 26,158] 26,054] 25,601 24,568 +65

» Preliminary, ‘ Revised.

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


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

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

May| Apr. | Mar. | Apr- | Mar-| Feb-] May] Apr] Mar. May | May
1997" 1997" 1997} May] Apr.| Mar. 1997" 1997" 1997 1996 | 97/96 1997? 1996

All manufacturing industries ... . . 323,316] 325,544] 321,146] — -0.7| +14 1.7) 323,126} 325,066] 336,218] 316,493, 42.1] 1,611,230 }1,536,782

Manufacturing industries
unfilled orders . .
without defense capital goods .

180,629] 180,982] 178,884) -0.2) +1.2
317,859] 319,273] 316,226] -0.4) +1.

175,860] 177,112] 173,944] -0.7] +18)
144,532] 144,807] 142,372] -0.2]  +1.7]
7,653) 7,671 7,588) -0.2) +1.1)
15,608} 15,904] 15,524) -1.9]  +2.4)
6,218} 6,512} 6,101] -4.5] +6.7}
1,509] 1,522) 1,512) -0.9) +0.

176,966] 178,472} 190,480] 172,262] +2.7) 895,481] 855,778
319,177} 319,512] 328,558] 311,685) +2.4] 1,583,150 1,503,267

175,077] 177,266} 186,908) 171,243 +2.2] 883,757} 837,128
141,528} 142,561] 153,329] 136,907] +3.4] 718,322] 680,172
7,892) 7,288) 7,165} +10.5 36,615} 32,833
16,282] 16,279) 14,953 +41 80,625} 75,070
6,708} 6,292] 6,344) -18 32,947} 31,590
1,597] 1,602) 1,420] +74 7,934 7,397

7,977] 8,385] 7,189} +8.6] 39,744] 36,083.
19,603] 19,225] 19,045] -0.8| 94,198] 88,823
32,781] 37,436] 30,959] +5.7| 164,184] 155,158

Durable goods industries
With unfilled orders... .
Stone, clay, and glass products .
Primary metals...
Blast furnaces, steel mills
Iron and steel foundries.
Nonferrous and other primary

7,881 7,870] TI +01 0.5)
-| 18,540] 19,319] 18,623] -4.0) +37
Industrial machinery and equipment . | 33,350] 33,861] 32,890] -1.5] +3.

Engines and turbines .......... 1529{ “1,746| 1,947] -12.4] -103| 1,362] 1,815} 1,751] -192| 7,789 7,940
Construction, mining and
material handling equipment ....] 3,654] 3,954| 3,787] -7.6|  +4.4) 4,041) 4,312] 3,488] +2.8] 19,636] 18,040
Metalworking machinery .......| 3,279] 3,547] 3,242) -7.6| +9.4| . 3,359] 3,505] 3,183] +2.5] 16,158] 14,768
Computer and office equipment . . . 8,993} 8,538] 8,634) +53] -1.1] +04) 8,114] 6,805] 11,161] 7,500} +82] 40,077] 37,966
Electronic and other
electrical equipment ........... 30,685) 27,884) 28,805] +10.0] -3.2)-6.1] 29,558] 27,053] 29,379] 24,597] +20.2] 143,037} 127,003

Electrical transmission and
distribution equipment and
industrial apparatus . .

! 3,245] 3,366] 3,289] -3.6] +231 0.0 3,137] 3,332] 3,511] 3,037] +33] 16,448] 15,258
lighting and

2,122] 2,266) 1,968] -6.4] +15.1 -2,.71 2,113) 2,187 2,120) 1,970 +73 10,467 9,957
6,688} 6,018 6,549) +111 8.1 6.5] 6,234) 5,336] 7,256} 4,482) +39.1 29,634) 25,237
13,273] 10,621] 11,339] +25.0} 6.3] -11.1) 12,873) 10,955) 11,031 9,633} +33.6 59,794} 50,916

Electronic components . . .
38,517] 39,717] 38,618] -3.0] +2.8]  -4.8) 38,693] 41,546] 43,874] 44.207] -12.5] 207,717) 214,157

Transportation equipment . .
Aircraft, missiles,
space vehicles, and parts. .....] 8,246] 8,724] 7,691] -5.5] +13.4) -21.1] 6,561] 8,345] 10,896] 10,805] -39.3] 44,781] 57,238
Shipbuilding and tanks ... on 903 692 570 +30.5} +21.4| +50. 948) 723) 635 492] +92.7 3,330] 4,085
Instruments and related products ....] 12,245] 13,267] 12,940] -7.7| +2.5]  -5.2| 12,096] 12,438] 13,804] 11,984] +0.9] 63,660] 58,717

Search and navigation equipment. 1,932] 2,630] 2,729) -26.5]  -3.6) -16.1] 1,761] 2,259] 3,153] 2,230) -21.0] 12,556] 11,652
Measuring and controlling devices .| 3,772] 3,819 3,727| -1.2] +2.5) -3.6 3.768] 3,667 4,090] 3,534] +6.6] 18,798] 17,764
Medical instruments and supplies .] 4,070] 4,347| 4,000 -6.4) +8.) -1.5| 4,000] 4,140] 3,928 3,950] +1.3) 20.351] 18,632

All other durable goods .......... 19,262} 19,489] 18,956) -12] 42.81 +011 19,629] 19,671} 19,623} 18,333 471 93,721] 85,367

Nondurable goods industries

147,456} 148,432] 147,202) -0.7) +0.8) —-0.3) 148,049] 147,800] 149,310} 145,250 +19] 727,473] 699,654
With unfilled orders . .

36,097] 36,175] 36,512) 0.2} 0.9] +1.8) 35,438) 35,911] 37,151} 35,355) +0.2) 177,159] 175,606

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

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

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


Table 1. VALUE OF MANUFACTURERS’ SHIPMENTS FOR INDUSTRY GROUPS
‘Millions of dollars)

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

May| Apr.| Mar. | Apr.- | Mar.-] Feb-| May] Apr. Mar.| _ May |_—_ May
1997°| 1997"| 1997] May] Apr.| Mar.) 19977] 1997"} 1997] 1996] 97/96] 19977] 1996

All manufacturing industries... . . 323,535] 326,909] 322,923) -1.0)  +1.2) 0.0] 325,098} 325,134] 337,516) 315,731 +3.0] 1,597,828 }1,511,642

Manufacturing Industries
with unfilled orders .......... 180,848) 182,347) 180,661 0.
without defense capital goods . . . | 317,247] 320,490] 316,655] -1.

8] +09] +0.6 178,938] 178,540] 191,778] 171,500] +4.3] 882,079} 830,638

| +12] +0.1) 318,997] 319,114] 330,916] 309,853] +3.0] 1,567,638 |1,482,853

Durable goods industries . 176,021] 178,482] 176,224] 1.4] +1.3] +0.8] 177,153] 177,787] 189,274] 170,750] +3.7] 871,868] 813,535
With unfilled orders : 0
Stone, clay, and glass products 2

Primary metals ....... .

Blast furnaces, steel mills...

Iron and steel foundries...

Nonferrous and other

144,693] 146,177] 144,652) -1. +11} +1.0) 143,604] 143,082] 155,695] 136,414 +5.3| 706,433} 656,579
7,597 7,614) 7,505} -0. FS} -L 7,828 7,800} 7,269] 7,266 477 36,141] 32,593
15,169] 15,425} 15,206] -1.7} +14] -0.4] 15,679] 16,000) 15,781] 15,144] 43.5 77,514) 73,331
6,074) 6,238] 6,219] -2.6} +0.3} -0.4) 6,250] 6,462) 6,402} 6,212] +0.6) 31,674] 30,474
1,422 1,472] 1,404) -3.4) 44.8) -3. 1,526) 1,574 1,441 1,513 +0.9 7,386 6,902

7,673] 7,715] 7,583] -0.5] +1.7} +0.1] 7,903) 7,964} 7,938] 7,419] +6.5| 38,454] 35,955
Fabricated metal products 18,620] 19,003] 18,519] -2.0] +2.6] -0.9] 18,998] 19,268} 19,111] 18,653) +1.8] 92,997] 87,915
Industrial machinery and equipment | 33,161] 33,323] 32,690] 0.5] +1.9] +1.6] 32,533] 32,264] 38,390] 30,732] +5.9] 161,934] 153,663
Engines and turbines «| 1892] 1,903] 1,814] -0.6] +49] 43.0] 1,798] 1,785] 2,082] 1,685] +67] 8,869] 8,901
Farm and garden machi 1,975| 2,031] 1,950] -2.8] +42) +53) 2,344) 2,691] 2,669) 2,246) 44.4) 11,608] 10,869
Construction, mining and

material handling equipment . 3,713] 3,865] 3,728} -3.9]+3.7] +14) 3,795} 3,994) 4,132) 3,525) +77 19,010} 17,330
Metalworking machinery .. . 3,405] 3,340] 3,291) +1.9] +15] +2.8) 3,388) 3,152] 3,554) 3,013) +12.4 15,727] 14,279
Computer and office equipment . . . 8,872) 8,670] 8,850) +2.3 2 +28) 7,621 6,678} 11,645) 7,157] +65 40,009} 37,860
Electronic and other
electrical equipment ........... 28,641) 28,485] 29,488} +0.5 -3.4) +3.9) 27,797) 26,632} 31,505) 25,876) +74] 136,671} 126,616

Electrical transmission and
distribution equipment and
industrial apparatus
Household appliances
Electric lighting and
wiring equipment ...........- 2,131 2,144) 2,056) -0.6) +43) -0.9) 2,122] 2,065) 2,208 1,974] 475 10,385 9,745
Household audio and
video equipment .. .
Communications equipment
Electronic components .
Transportation equipment .
Motor vehicles and parts
Aircraft, missiles,
space vehicles, and parts.

3,240} = 3,327) 3,162] -2.6) +5.2) 0-11 3,179} 3,309} 3,405) 3,052] +42 15,939} 15,217
1,939 1,989] 2,022) -2.5) 1.6] +0.3) 1,968) 1,994] 2,235) 2,048] 3.9 9,715 9,527

1,336} 1,303| 1,310] +2.5 -0.5{  +0.8} 1,132) 1,044 1,248 1,044 +8.4 5,621 5,207
6,319} 6,023) 6,240) 44.9] -3.5] 43. 5,880) 5,329] 6,944] 5,012) +173) 27,792] 24,479
11,558} 11,475] 12,557) +0.7, 8.6] +8.9) 11,419) 10,814) 13,439] 10,485) +8.9 56,875] 52,113
40,966] 42,346] 41,009) -3.3)  +3.3) 0.0} 42,647] 44,282) 44,037] 43,026} -0.9} 211,938} 197,106
27,773) 28,971) 28,153] -4.1)  +2.9) -1.8} 29,897] 31,126] 29,940] 31,346 4.6} 150,862} 144,145

10,469} 10,751] 10,185] -2.6] +5.6) +6.7] 9,936] 10,436] 11,208) 8,861) +12.1 47,856] 39,056
994) 915 871

Shipbuilding and tanks . +8.6| 0.3} 1,025) 891 893 849] +20.7 4,304 4391
Instruments and related products . 12,692} 12,942) 12,854) -1.9) 0.4] 12,637] 12,407) 13,744) 12,221 43.4 62,524] 58,685
Search and navigation equipment . 2,539] 2,644) 2,565] -4.0) 0.8] 2,522] 2,539) 2,766] 2,476] +19 12,650] 11,879
Measuring and controlling devices . 3,749) 3,843) 3,730] -2.4 AS 3,745, 3,691 4,093, 3,697, +13 18,579] 17,811
+12) 3,883) 3,797| 4,436] 3,754] 43.4 19,765] 18,516

Medical instruments and Supplies . 4,007} 4,030) 4,117] -0.6)
Photographic goods . : 1,974) 1,989) 2,016} -0.8]

+42) 2,049) 1,926] 2,018 1,908 474 9,387 8,745
All other durable goods 19,175} 19,344) 18,953) -0.9)

+0.4) 19,034] 19,134] 19,437) 17,832 +6.7 92,149] 83,626

0.9) 147,945} 147,347) 148,242] 144,981 +2.0| 725,960] 698,107
0.8] 35,334) 35,458] 36,083] 35,086) +0.7| 175,646} 174,059
+0.6| 40,257] 38,970) 40,406) 39,397] 42.2) 195,357] 189,831
+12] 9,028] 8,606] 8,925} 9,013 +0.2 43,261] 42,381
4+2.3{ 5,179] 4,745) 5,126] 4,916) 45.3 24,734) 23,544
+0.9 6,317 5,865] 5,825] 6,202, 41.9} 28,037) 27,339

0.0} 17,764) 17,611) 18,486) 17,422) 42.0 89,101] 87,127

Nondurable goods industries
With unfilled orders . .

Food and kindred products.
Meat products. .

147,514] 148,427] 146,699] 0.6}
36.155] 36,170] 36,009] 0.0
40,175] 40,150] 40,148] +0.1
81860] 8.878} 8,991] -0.2
Dairy products 5.113] 4,895] 5,057] +4.5|
Beverages .. . -| 5,844) 5,836] 5,873) +0.1
All other foods, except fats and oils | 18,380] 18,398] 18,183] 0.0
Tobacco products -| 3.191] 3,065] 3,094] +4.1

43.2) 3,351 2,913) 3,283 2,851) +17.5 15,444] 13,781
Textile mill products 6,809} 6,866] 6,821 0.8} 0.3) 6,852] 6,574) 7,241 6,578 +4.2 33,121] 31,205
Broadwoven fabrics and

other textiles ...... -| 4160] 4,216} 4,245] -1.3| -0.7] +10} 4,264) 4,091 4,637] 4,163] 42.4] 20,805} 19,846
Paper and allied pro: :.{ 13,378] 13,533) 13,125] 1.1] +3.1]-1.7) 13,344] 13,310] 13,203] 13,530] -1.4) 66,008] 67,940
Pulp, paper, and

paperboard mill products ...... 5,294, 5,399] 5,360) -1.9] +0.7) +0.8) 5,273) 5,313} 5,374] 5,485, -3.9] 26,209] 27,720
Paperboard containers and boxes . . 3,253] 3,233} 3,193] +06} +1.3|  -1.9] 3,308) 3,268) 3,270] 3,314) 0.2 16,317] 16,806
Miscellaneous converted

paper products ........
Chemicals and allied products

Industrial chemicals... .

Drugs, soaps, and toiletries .
Petroleum and coal products
Rubber and plastics products.
All other nondurable goods

4,831 4,901 4,572} -14| +7.2}  -4.3] 4,763} 4,729} 4,559} 4,731 +07 23,482] 23,414
32,904] 32,975] 32,167] -0.2] +2.5] -1.1] 33,427] 34,258] 33,611) 31,797] +5.1] 164,447] 153,604
15,851] 16,070} 15,977] -1.4] +0.6{ -1.0] 16,136] 16,612] 16,550] 15,747] 42.5 80,648] 75,971
12,932) 12,777) 12,273) +12] +4.1 1.7] 12,027] 12,011] 12,646] 11,126) 48.1 61,278! 56,390
14,773] 14,941] 15,186] -1.1 -1.6, 4.0) 15,420] 14,977) 14,231] 15,773) 2.2 74,4411 69,375
12,258} 12,688) 12,274) -3.4]  +3.4)  -0.8] 12,753] 13,122} 12,754] 12,681 +0.6 62,474} 60,300
24,026) 24,209) 23,884) -0.8) +14) -1.8) 22,541] 23,223] 23,513] 22,374 +0.7] 114,668] 112,071

Preliminary. * Revised.

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