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US. Census Bureau For Release 8:30 A.M. EDT
For Data - (301) 457-4673 June 26, 2002

For Questions - Dan Sansbury or Derrick Roy CB-02-87

(301) 763-4832 or (301) 763-4814

M3-1(02)-5.

ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS! SHIPMENTS, INVENTORIES, AND ORDERS
May 2002

(All figures in text below are in seasonally adjusted current dollars)

@ NEW ORDERS, excluding semiconductors, for manufactured durable goods in May increased $1.0 billion or 0.6 percent to $173.2
billion, the Department of Commerce, U.S. Census Bureau reported today. This followed a 0.4 percent April increase. Excluding
transportation and semiconductors, new orders increased 0.6 percent. Year to date, new orders for 2002 were 2.9 percent below the same

period a year ago.

Fabricated metal products had the largest increase, $0.5 billion or 2.4 percent to $21.3 billion. Transportation equipment increased $0.3
billion or 0.5 percent to $50.4 billion, led mostly by nondefense aircraft and parts which increased $1.8 billion. Computers and electronic
products, excluding semiconductors, also increased $0.3 billion or 1.0 percent to $27.1 billion.

© SHIPMENTS, excluding semiconductors, of durable goods in May decreased $0.1 billion to $176.1 billion. This followed a 3.4
percent April increase. Year to date, shipments for 2002 were 3.1 percent below the same period a year ago.

Transportation equipment had the largest decrease, $1.1 billion or 2.0 percent to $52.5 billion, led by motor vehicles and parts.
Machinery increased $0.6 billion or 2.6 percent to $23.2 billion.

@ UNFILLED ORDERS, excluding semiconductors, for durable goods in May decreased $2.9 billion or 0.6 percent to $496.4 billion.
This followed a 0.8 percent April decrease.

Transportation equipment had the largest decrease, $2.2 billion or 0.9 percent to $252.7 billion. Machinery, down five consecutive
months, decreased $0.9 billion or 1.7 percent to $50.3 billion.

@ INVENTORIES, excluding semiconductors, for durable goods in May, down sixteen consecutive months, decreased $1.5 billion or
0.6 percent to $266.3 billion. This followed a 0.5 percent April decrease.

Machinery, down fourteen consecutive months, had the largest decrease, $0.4 billion or 0.9 percent to $45.3 billion. Computers and
electronic products, excluding semiconductors, also decreased $0.4 billion or 0.9 percent to $44.1 billion, mostly due to nondefense

communication equipment.

© CAPITAL GOODS INDUSTRIES, DEFENSE New orders in May decreased $0.6 billion or 9.7 percent to $5.2 billion. Shipments
increased $0.1 billion or 1.0 percent to $6.3 billion. Unfilled orders decreased $1.1 billion or 0.9 percent to $126.1 billion. Inventories
decreased $0.2 billion or 1.3 percent to $18.8 billion.

®@ CAPITAL GOODS INDUSTRIES, NONDEFENSE New orders in May increased $1.8 billion or 3.3 percent to $56.2 billion.
Shipments increased $0.6 billion or 1.1 percent to $57.7 billion. Unfilled orders, down sixteen consecutive months, decreased $1.6
billion or 0.7 percent to $219.9 billion. Inventories, down sixteen consecutive months, decreased $0.9 billion or 0.7 percent to $116.2
billion.

®@ REVISED APRIL DATA Revised seasonally adjusted April figures for all manufacturing industries are: new orders, $318.2 billion
(revised from $318.8 billion); shipments, $322.2 billion (revised from $322.6 billion); unfilled orders, $499.4 billion (revised from
$499.5 billion); and total inventories, $430.0 billion (revised from $430.5 billion).

SEE BACK PAGE FOR SURVEY DESCRIPTION

Our internet site address is: http://www.census.gov/indicator/www/m3

This report presents advance information on two key business indicators: durable goods manufacturer

” shipments and orders. Revised and more detailed estimates plus nondurable goods
data will he nubliched Tuly 1 2007 at 10:00 A MENT. The advance renart an drirahle monde fr Trine do on

Thadislad fae Tuser 98 MAMA ne BAA A NEE



Table 1. DURABLE GOODS MANUFACTURERS’ SHIPMENTS AND NEW ORDERS
(Millions of Dollars)

of.
Seasonally Adjusted Not Seasonally Adjusted ©
Monthy ie Monthly Percent
tem Change
May Apr Mar Apr May Apr May May
20027 2002 2002 May” 2002 * 2002° 2001 02/0
DUBABLE GOODS
Shipments 176,101] 176,174 170.376 0.0} 3.4 0.0] 182,336] 174,068] 183,764] 0.8
New Orders. 173,172] 172:207] 171/520] o6 oral 0.3] 177/198] 170,865] 176,924 02
Exc ENS 123,557] 122,54a[ 119,910 8 22 o.8| 125,131] 120,103] 128,611 “27
New Orders. 122812] 122:111] 117,669 06 3.3 0.0] 123,560] | 120;407] 123.734) “01
Exchyging det
xelsripments 168,542] 168,635] —_ 162,409] 0.1 3.8] -0.4] 174,867] 167,117] 177,266 14
New Orders. 166,379] 165.573] 159,715] og 37] ste] 172/231) 164.853] 171/176 06
Manufacturing with unfilled orders:*
snuesshipmments..- 122,758] 122,750] 121,972] 0.0} 14 0.7]  125,853| 120,620] 130,304] 3.4
New Orders. 119,826] 118,783] 122/216 0.9) 24] 0.3] 120,712) 117,417] 123.464 22
Primary metals:
Shipments. 11.376] 11,312] 10.954 06 33 3.1{  12,052| 11,708) 12,272
New Orders... 11/397] 11/290 10.623 09 33 2} 11/908] i1'62a] 12069]
Fabricated metal products
Shipments. | 20912) 24,011] 20,518 05 24] o.6| 21,807) 21,183) 22,213] 18
New Orders... 211273) 20,768, 20:568 2a 79} 0:8] 22456] 21/067] 21/797] 30
Machinery:
‘Shipments. 23,195] 22.599] 22.526] 2.6 03 24,016] 23,320 28,060 42
New Orders. 22/342] 22'425| 21.488] 0.4) 45 22'877| 23.465] 24,095] “51
Computers and ele
ome gments ee 27,285] 26,914] 26,463] 1.4) 17] 0.9] 25.377] 23.461] 26,846 $5
New Orders. 27/053] 26.792) 26.048} v9 29 0:3] 2a/aeal_ 23/581] 24569] 04
Computers and related product:
Shipments. 6783] 6,723] 6,402] og 5.0 -3.8] 5,840] 5,320] 6,812 “10.3
New Orders... 6708} 6.458] 6386 EX) i x Boao] = 5.016, 8.716 10.1
6.037 6,067 5,941 os 24 -3.1 5.615] 5,221 6,889 “18.3
6.281 6,182] 5.407] 18 1433 15:9 5.496] 5,303] 5,609] 2:0
‘Shipments (NA) (Na) way (na (Na) (NA) «nay (NA) (na (Nay
New Orders. wa) Nal] wal] wal (wa) (Na) Na) (na) INA) (NA)
Electrical equipment, appliances,
‘and components:
Shipments 9.230] 9,246] — 9,008] -0.2| 27] 3.2| 9.333] 8.981] 10,462 10.8
9.374] 8571 8676 24 10:3 28] s'43a} 9.248] 9,839 “44
Transportation equipment
‘Shipments. 52,544] 53,630] 50,466] 2.9] -1.9] 57,205] 53,965] 55,153 3.7
New Orders. 50:360| 50,096] 53.851 a5 -o'3] 83/638] 80,458) 83,190 o8
Motor vehicles and part
Shipments. 38,348] 39,196] 34,931 2.2] 12.2 42,903] 40,8421 40,389 6.2
38/527) 39,318] 35.087 219 124 42/766] 40,818] 39.795 78
6.407] sess] 7,368] 4.4 -16] 6,529 6.015] 8,056 -19.0
New Orders. 5.578] 3.739 «8,802 49.2| 35 5,386 3.224] 6,843] "213
Defense aircraft and parts:
Shipments. . 2.918] 2,852) 3,028] 23 10.5 2,832] 2.478] 2,089 35.6
New Orders. 21156] 21152) 6.338] a2] 728] 11346 1/981 2/868| 35:7
All other durable goods:
‘Shipments. 31.559 31.462) 30,444] 03 33 2.0] 32,546] 31.450] 31,758 25
New Orders. 311373, 31/265] 30.296] 03 32] Tal 32/422) 311422) 31385 314
Capital goods:*
Shipments. 64,020] 63,338 63,833 4a 63,198] 59,707| 67.473 6.3
New Orders. 611325] 60,081] 64,341 24 59,259] 56/509] 62,894 58
Nondefense capital goods:
Shipments 57,728] $7,110 _—_ 57.135 iB) 0.0} 0.1} 56,895] 53,847] 61,749) 19
56.167| S4'368| 53.642 a3 14] -3:3| 85.056] 1.558] 58,229] 64
54,464] 53,715| 53,056] 14 12 0.3] 53,359] 50,718] 57.056 65
53/837| 53.7121 50.883] 02 5.6 -4'5] 52.484] 1,168] 84,590 39
Defense capital goods:
Shipments 6292] 6,228 6.698 1.0) -7.0} 10.9 6.303] 5,860] 5,724 10.1
New Orders. 5:158| 5.713] 10.699} 9.7] 48.6 36.6] 4:03] 4.951 4/665 “9.8

(NA) Not Available Revised

* Shipments and new orders are the totals for the period and are adjusted for trading day and calendar-month variations: unfiled orders and total inventories are as of the end of the period and
‘ot adjusted for ‘aoa y or ‘calendar-month variations.

? Based on sample. 7 to survey or ‘of survey error is
nonsampling enon which ichsdes enors of coverage, response ond nomeepartng. Eance tha soneey anlar pray sore srtintes of samp eror Cannot be Cacuated.
Further details on survey design, methodology, and data imitations are contained in our most recent annual benchmark publication, Current industrial Reports: M3-1(01),
"Manufacturers" Shipments, Inventories, and Orders: 1982-2001.”
2 The Capital Goods Industrie ‘small arms and fan ry and 7 inery: mining, of and gas field ¥:
machinery; vending, laundry, and other machi c equipment; vi ‘and 3; other power tansrnissi : pumps and
handing al other Ye ces: other peripheral 7
search and navigation ‘and control i alec ‘other _ ‘and shaawy duty trucks;
sirerahs ralroad oling stock ships and bosts: office nd insti and ‘and
* Aggregate estimates and percent data. Due to the of large ot to participate in this
‘monthly survey, the Census Bureau cannot of semi ss orders, oF

* Due to the number of large semiconductor manufacturers choosing net to participate in this voluntary monthly survey, the Census Bureau cannot currently
produce monthly ‘of semiconductor shi orders, oF :

Defense Capital Goods include : small arms and i a erat: ‘space vehicles, and parts, ships and boats, and search and navigation equipment.


Table 2. DURABLE GOODS MANUFACTURERS’ UNFILLED ORDERS AND TOTAL INVENTORIES
(Millions of Dollars)

‘Seasonally Adjusted Not Seasonally Adjusted ©
‘Monthly Percent Change ‘Monthy Percent
tem
May ‘Apr Mar Aor | Mar. | Feb- May Apr Mey | May
2002 7 2002' 2002 May” Apr’ Mar 20027 2002 2001 02/01
DURABLE GOODS
Total
Unfilled Order 496,441] 499,370] 503,337 0.5} 08 0.2) 501,035] 506,176] 539,731] -7.2
Total inventories 266,287) 267,833| 269,094 0.6 x 1.0] 268,191] 268;497| 299,617] -10.5
Excluding tr tion:*
ntiled Orders 243,789] 244,534] 244,967] 0.3] 246,112| 247,683] 273,059] -9.9
Total inventor 194/329] 195,674] 196,654 0.7] 196,293] 196,716] 222,793] -11.9
Exchiding defense:
Nintiled Orders. 353,270] 354,833] 357,895 0.4 -0.9 0.7] 355,480] 358,116] 403,841] -12.0
Total laventories. 244,181) 245/409} 246/595 -0.5| “0.5| v1.1] 248/178] 246,316] 277/330] -11.2
Manufacturing wi
aruteiiied Orders ee 496,441) 499,370] 03,337 0.6 0.8 0.2] 501.035] 506,176] 539,731] -7.2
Total Inventories. 217;429| 219,003] 220,215 “07 “0 -13] 218/890] 219/481] 245832] -11.0
Primary metals:
Untiled Orders. 16,054] 16,033] 16,055 o1 0.4 -20] 16,490] 16,634] 18.92) -11.3
Total Inventor 18,125] 18,305] 18,399] 1.9] 05 “1:3] 18.003] 18.144 20:76a| “13:3
Fabricated metal products:
Untitled Seder 40,114] 39,753] 39,996] og 0.5} os} 40526] 39,877) 43,771) 7.4
Total inventories 30,816] 31,061] 31,293 o8 0.7] 0.2) 31,085 31.347] 34,430] “9.7
hinery:
Unfilled Orders. 50,275| 51,128 51,302 -1.7] 0.3] -20| 50,707] 51,846] 58,262] -13.0
Total inventories. 45,321] 48,743] 46,304 019} “1.3 “0.4) 45,681] 46,057] 50.157) -8.9
co ; ’
mputeinited Order 112,436] 112,667| 112,789} 0.2 0.1 0.4] 113,421) 114,334] 125,631] -9.
Total Inventor SLIT] 4aiosa]aa‘aga] 44/506 0.5} 0 -1.6] 45,051] 44/702] 56,637] -20.5
Computers and related products:
‘Untiled Orders. esse] 66.7711 7, a 3.8] 02) 6,887] 6.687] 7,532] 8.6,
Total Inventories 7057] 7,083, 7/159] 02 a5 vif 7/538] 7:tas] 9520] -208
Communications equipment:
Untiled Ord 42,223] 41,979] 41,264] 06 03 1.3] 42,704] 42.823 49,776] -14.2
Total inventories. 10,343] 10,672] 10,546| “31 1.2 -4'0] 10,523] 10,707] 15,686] “32.9
Semiconductors:*
Gntited Order (Na) (Nay (Na) (NA) way (nay nay] (a) wa] «Nay
Total Inventori (Na) (Na) (Na) (Na) (wa) (Na) (Na) (way wall
Electrical equipment, appliances,
components:
Uatiled Orders. 14,900] 14,7561 14,431 1.9] 2.3| -2.2| 14,943] 14,843| 16,353]
Total Inventories 1sii61] 13,208] 13,240} 0.4 02] 0:7] 13/450] 13/511] 14,949]
Transportation equipment:
252,652|  254,836| 258,370] 0.9) 1.4] 1.3] 254,923] 258,493] 266,672
71.958] 72,159| 72,440] 0.3} “0.4 22] “71\a98| 71.781] 76,824]
12,668] 12,489] 12,367| 1.4] 19 1a] 12,7211 12,858] 13,291
20,069] 20,086 19,851 01 12 0:7] 20,163] 20,077| 21/922
116,701] 117,530] 120,490] 07 28 0.7] 116,859] 118,002] 138,793] -15.8
30,139] 30,067| 30,559] 02 “1.6 6.2) 30,033) 29,913] 32.811
55,268] $6,030] 56,730] 12 86,777] 57,763] 43,9021
Total Inventories. 10,634) 10,830] 10,776 08 10,546] 70,648| 10,289]
All other durable goods:
Untiled Orders. . 10.011} 10,197] 10,394] -1.9| 10,025] 10,149] 10,450]
Total Inventories: SIU] aziaia}—aziasa] 42/912] “01 43,023] 42/958] 45,856
Capital apes:
infilled Orders. 345,923] 348,618] 351,875 -0.8| 0.9} 0.1] 348,872) 352,811] 379,917
Total Inventories. 135,041] 136,134] 137/359] -0.8| 0.3} -1.8| 136,245] 136,608] 154,925]
Nondefense capital goods:
Untiled Orders. 219,868] 221,429] 224,171 -0.7] 1.2] -1.5] 221,211] 223,050] 261,320 -15.4
Total Inventories. 116,250| 117105] 118,239] 0.7] “19 ‘21 117,412) 117/630) 138,459] “13:3
Excluding aircraft:
Untied Orders. 134,016] 134,643] 194,646 0.0} -1.6] 135,359] 136,264] 154,256]
Total Inventories 92;700] 93,463] 84/011, -0.6| cit] 34/173] 4/207] 109/084]
Defense capital
Untiled Orders. 126,055] 127.189] 127,704] 0.9} -0.4] 3.2| 127,661] 129,761] 118,589
Total inventories 18,781] 19,029{ 19,129] 71.3} 08 04) 18.833] 18,978| 19.466}

‘See footnotes at end of Table 1