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

‘Seasonally adjusted Not seasonally adjusted

Industry Monthly Percent Change Monthly Percen

change

Dec. Nov. Oct.| Nov-| Oct-| Sept Dec. Nov. Oct. Dec.] Dee.

1997" 1997" 1997] Dec.| Nov.] Oct. 1997" 1997" 1997 1996] 97/96

All manufacturing industries .... . 453,738 | 454,182] 452,139 0.1 +0.5 40.7] 443,183} 454,521] 453,221] 424,462 +44

Manufacturing industries
with unfilled orders... ..
without defense capital goods

300,644] 301,164] 299,664
436,742 | 438,096 | 436,069

+05 +0.7| 291,280} 301,051} 299,784] 279,058 +44
+0.5 +0.7| 426,947] 438,487] 436,965] 408,821 +4.4

Durable goods industries . .

283,985 | 284,649] 283,477
With unfilled orders

260,666 | 261,351 | 259,929

+04 +0.6] 275,960] 285,247] 283,673} 263,937 +46
40.5 +0.7] 252,805] 261,795] 260,280] 241,616 +46

Stone, clay, and glass products... . . 8,764 8,745 8,630 +13 -13 8,541 8,414 8,318 8,385 +19
Primary metals .......... . . 25,104 24,956 24,875 +0.3 +03 25,174 24,776 24,684 24,801 +15
Blast furnaces, steel mills 6... 12,078 12,060 12,061 0.0 0.0 12,368 12,173 12,058 12,549 “14
Iron and steel foundries tee 1,634 1,641 1,640 +0. 08 1,596 1,600 1,604 1,624 “17

Nonferrous and other primary
metals... 2.0.2.0.
Fabricated metal products
Industrial machinery and equip
Engines and turbines
Farm and garden machinery.
Construction, mining and
‘material handling equipment
Metalworking machinery
Computer and office equipment .
Electronic and other
electrical equipment .......... 40,504} 40,302] 40,048) +05} +06] +02] 39,115] 40,305] 40,252] 38,025] +2.9
Electrical transmission and
distribution equipment and

11,392 11,255 11,174 +12 +0.7 +0.7 11,210 11,003 11,022 10,628 45.5
29,090 29,166 29,029 3 +0.5 +0.6 28,564 28,679 28,614 26,940 +6.0
60,692 60,592 60,487 +0.2 +07 58,435 61,211 60,546 56,104 +4.2
3,852 3,861 3,803 +15 +16 3,636 4,108 3,974 3,534 +29
3,291 3,262 3311 +0.9 AS +23 3,426 3,251 3,130 3,112, +101

8,154 8,072 7,971 +10 +13 40.4 7,975 8,035 7,938 7,378 +81
7,405 7,328 7,294 +11 +0.5 +15 6,953 7,246 7,325 6,651 44.5
11,488 11,658 11,765 -15 0.9 “13 10,546 12,092 11,923 10,875 3.0

industrial apparatus 5,269 5,227 5,245 +0.8 0.3 0.0 5,123 5,316 5,304 5,018 42.1
Household appliances . 2,552] 2,644) 2,682] 3.5] 14] 24] 2,320] 2,565) 2,588] 2,558] -9.3
Electric lighting and

wiring equipment ....... foe 3,405] 3,422] 3,410] = -05] = +04] 40.5] 93,225 3,417] 3,421 3100] +4.0
Household audio and

video equipment ............. 1,435 1499] 1,569] 43] 0-45] 415 1,320 1415 1,552 1541] -143

Communications equipment

11,152 11,053 10,871 +0.9 +17 +03 10,667 11,100 10,948 9,793 48.9
Electronic components

13,410 13,181 12,976 +17 +16 +1.0 13,343 13,315 13,162 12,755 +46

Transportation equipment 67,566 | 68,630] 68,503 16] +02] +14] 64,862] 69,484] 69,118] 60,504] +72
Motor vehicles and parts . . 16,398] 16,427] 16,654 0.2 -14{ 26] 15,896] 16,529] 16,787] 16,151 -16
Aircraft, missiles,

space vehicles, and parts. ...... 46,304 47,448 47,061 24 +0.8 42.9 44,224 48,218 47,562 39,834] +11.0
Shipbuilding and tanks . 1,681 1,612 1,624 +43 07 -0.1 1,645 1,594 1,585 1,671 -16

Instruments and related products .... | 25,093] 25,160} 24,900 03] +10 0.0} 24,322] 25,314] 25,074] 23,623] 43.0
Search and navigation equipment. 6,206] 6,086} 6,038] +20] +08 18] 6,048] 6,054 5,985 5.882] +28
Measuring and controlling devices . 7,867| 7,882 7,816 02} +08] +03] 7,662] 7,915 7811 7513) +20
Medical instruments and Supplies : 7,965 8,168] 8,036 25) +16) +08 7766) 8279] 8,152 7479) 43.8

Photographic goods

2372] 2343] 2334] +12] +04] +06) 2163] 2379] 2449] 92129] H16
All other durable goods... .

27,172 27,098 27,005 +03 +03 +0.6 26,947 27,064 27,067 25,555 +54

Nondurable goods industries ....... } 169,753] 169,533] 168,662] +0.1| +0.5] + +0.8| 167,223] 169,274] 169,548] 160,525] +4.2
With unfilled orders ©... .. : 39,978| 39,813] 39,735] +04] +02] +03] 38475] 39,256] 39,504] 37,442] 42.8
Food and kindred products . . 35,910] 35,664} 35,513 +07 +04 +0.6] 36,292] 37,316] 37,640] 34,966 43.8
Meat products 3,879} 3,866] 3,821] +403) 0 412] 0.1 3,685] 3,853] 3,845] 3,560] 43.5
Dairy products 3,324] 3,264) 3,187] +18] 424] 40.7] 3188} 3,195} 3.224) 2980] +720

Beverages... . 7,183} 7,187] 7,129] 0.1] +08] +11 TUL] 7,337] 7,380) 6,494] 49.5
All other foods, except fats and oils | 19/590] 19,352] 19360 +1.2 00 01] 20,295] 20.740] 21,080} 19,895] +2.0
Tobacco products ona : 611s] 6232] 6167-18] +a] +17] 6546] 6.407] 6.271] 6.661 “17
Textile mill products . . 10,246] 10,245] 10,314 oo}  -07 oo] 9,795] 10,040] 10,115} 99591} #21

Broadwoven fabrics and

other textiles... . 6429} 6398] 6,414] 40.5} -0.2 00] 6198] 6,333] 6,309} 6,073] +2.

Paper and allied products 16.273} 16,177] 16,079] +06] +06 OL} 16,147] 15,985] 15,875] 16,026] +08
Pulp, paper, and
paperboard mill products ...... 6,643} 6,630] 6,585] 40.2] 40.7 -0.1 6,590] 6,590] 6,489] 6,620 0.5
Paperboard containers and boxes . . 3,975] 3,937] 3,905] 1.0] 40.8] #13 3,987] 3,848] 3,824 3,933) +14
Miscellaneous converted
paper products ........... 5,655 5,610] 5,589] +08] +04 “ld 3,570] 5,547 5,562] 5,473] +18
Chemicals and allied products 44,449] 44,470} 43,894 0.0] +13 +16] 44,145] 44,129] 43,452] 41,033 +76
Industrial chemicals ........ 20,069 20,213 19,864 0.7 +18 +0.2 20,230} 20,003 19,625 19,565 43.4
Drugs, soaps, and toiletries 18,963] 18,867} 18,651] +05} +12] +34] 18,508] 18,872] 18,674] 16,322] +134
Petroleum and coal products . 12,294] 12,459} 12,463 -13 00} +01] 11,674] 12,374] 12,536] 11,844 -14
Rubber and plastics products . 16,502} 16,464} 16,375] +02] +05] +403] 16316] 16116] 15,996} 15,549] +4.9
Alll other nondurable goods ..... 27,961) 27,822] 27.857) +05 0.1} +08] 26,308] 26,907] 27,663] 24,855] $5.8

° Preliminary. * Revised,

See nate at and af table 7 relating tr chimien arene and ravi



10 Total Manufacturing
New Orders and Shipments
Three Month Moving Averages
Billions of Dollars

380 380
New Orders

360 - ------------ ec rcrr rrr Shipments |_} 360

340

320
300
280 L 1 1 L 1 L 1 1 i L 1 1 L 280
Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec
Dec. 1995 - Dec. 1997
Total Manufacturing
Ratio of Unfilled Orders and
Inventories to Shipments

V/S Ratios UO/S Ratios
2.5 3.9
2.4F- vos |4 3.8
23p---------- rrr cre vs {43.7
2.2 —==+ 3.6
i 3.5

ob------------ eect 3.4
19L---------- ee ec rrry 3.3
1.8 3.2
1.7 3.1
1.6 3
1.5 2.9
1.4 2.8
1.3 2.7
1.2 L L 1 1 L i 1 1 4 1 L 1 L 2.6

Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec
Dec. 1995 - Dec. 1997

Note: All Charts based on seasonally
adjusted current dollars.


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

FOR TOPICAL SERIES!
(Millions of dollars)

Seasonally adjusted Not seasonally adjusted
Industry Monthly Percent Change Monthly Percent
change
Dec. Nov. Oct. | Nov.» | Oct- | Sept Dec. Nov. Oct. Dec, | Dee,
1997° 1997" 1997 | Dec. | Nov. | Oct. 1997" 197" 1997 1996 | 97/96
UNFILLED ORDERS
All manufacturing industries... .. 541,193 | 542,376 | 530,498 02 | +22 | +05 | 535,289 | 537,311 | 527,504 } 512,219 44.5
Market categories :
Automotive equipment . . . 2439} 2418 | 2459] +409] -17] +13] 2,361 2,331 2,425 2,204
Home goods and apparel 10,440 | 10,289 | 9572] +15] +75] +30] 9.023] 9442 | 9,403 7,506
Consumer staples ..... 2,165 2134 | 2285 | +15] 66 -14 | 2129 | 2,116 | 2.296 | 2,158
Machinery and equipment . . 248,048 | 250,091 | 237,884 08 45.1 +1.6 | 246,903 | 250,054 | 237,766 | 228,572
Business supplies . 6,783 6,905 6,998 AS] -13 | +13 6,593 6.774 | 6873 6,609
Construction materials
and supplies... .. 17,564 | 17,553 | 17,552 | +0.1 00 | +19 | 17,245 | 17,167 | 17,303 | 16,128
Defense products 99,162 | 98.966 | 99916] +02] -10 -16 | 99,524 | 96,868 | 97,732 | 107,107
Other materials, supplies an
and intermediate products . . . 154,592 | 154,020 | 153,832 +04 | 40.1 -0.1 | 151,511 | 152,559 | 153,706 | 141,935 +67
Durable goods industries :
Nondefense capital goods * . . . 264,955 | 267,290 | 255,533 09 | +46 | +11 | 264,413 | 267,593 | 255,463 | 249,523
Excluding aircraft and parts 101,944 | 101,932 | 101,468 0.0 +0.5 +0.9 | 101,402 | 102,235 | 101,398 | 93,775
Defense capital goods * 103,877 | 103,526 | 104,368 40.3 -0.8 -1.7 | 104,056 | 101,277 | 102,166 | 111,678
Durables excluding capital goods 146,015 | 145,245 | 144,266 +05] 40.7] +10 | 141,674 | 143,057 | 144,328 | 126,373
Miscellaneous series :
Producers’ durable equipment . 288,796 | 290,093 | 277,344 -04| +46] +19 | 286,500 | 289,549 | 277,350 | 263,010 48.9
Household durable goods ... . 7,076 7,037 6,552 +06 | 474] +15 6,251 6,670 6,635 4,800 | +302
Information technology industries. 37,942 | 38,201 38,391 -0.7 05 -0.9 | 37,729 | 38,545 | 38,564 | 35,090 475
Health care equipment
and products ..............5 8,320 8,206 8,062 +14 +18 +11 8,310 8,370 8,214 7,457 +114
TOTAL INVENTORIES
All manufacturing industries 453,738 | 454,182 | 452,139 -0.1 +05 +0.7 | 443,183 | 454,521 | 453,221 | 424,462 +44
Market categories :
Automotive equipment . . 8,202 8,143 8,269 +0.7 LS 2.7 7,837 8,142 8,298 1,157 +1.0
Home goods and apparel 32,747 | 32,773 | 32,873 -0.1 -0.3 40.3 | 31,254 | 31,490 | 32,276 | 30,017 +41
Consumer staples . 71,070 | 70867] 70.419 | +03] +06] +13 | 70,758 | 72,301 | 72,463 | 67,145 +54
Machinery and equipment . . 14117 | 115,954 | 115,149 16} 40.7 | +17 | 109,388 | 117,360 | 115,615 | 102,411 +68
Business supplies 27,337 | 27,267 | 27,104 | +03} +06} +04 | 26,264 | 27,071 | 27.164 | 25,008 +5.0
Construction materials
and supplies. . 27,656 | 27,729 | 27,653 03 | +03 | +01 | 27,110 | 27,355 | 27,317 | 26,260 432
Defense products 16,474 | 15,873 | 15,835 438] +02 -12 | 15,879 | 15,811 | 15,983 | 15,441 42.8
Other materials, suppl
and intermediate products .... . . 156,135 | 155,576 | 154,837 | +04] +05 | +02 | 154,693 | 154,991 | 154,105 | 150,423 428
Durable goods industries :
Nondefense capital goods * . . . 108,071 | 109,766 | 109,067 -15} +06 | +17 | 103,437 | 111,264 | 109,676 | 96,822 +68
Excluding aircraft and parts. 72,627 | 72,385 | 72,153 +03 | +03 | +05 | 69,433 | 73,089 | 72,468 | 66,583 +43
Defense capital goods * 16,996 | 16,086 | 16,070 45.7 | 40.1 -14 | 16,236 | 16,034 | 16,256 | 15,641 43.8
Durables excluding capital goods 158,918 | 158,797 | 158340 | +01} +03 | +0.1 | 156,287 | 157,949 | 157,741 | 151,474 43.2
Miscellaneous series :
Producers’ durable equipment 183,109 | 185,056 | 184,188 -l1 | +05 | +10 | 176,767 | 186,055 | 184,403 | 168,322 45.0
Household durable goods ....... 16,294 | 16,390 | 16,377 0.6] +01 +04 | 15,651 15,976 | 16,196 | 15,182 43.1
Information technology industries . | 34,965 | 34,977 | 34,831 00] +04 -03 | 33,070 | 35,492 | 35,133 | 32,202 42.7
Health care equipment
and products ............... 18,248 | 18,397 | 18,147 08 | +14] +22] 17,803 | 18,508 | 18,272 | 16,337 +9.0

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
Dec.| Nov.| Oct. | Nov.-] Oct.-| Sept-| Dec.] Nov.] Oct. Dec. | Dec.
1997*} 1997"| 1997] Dec. | Nov.] Oct.] 19977] 1997} 1997] 1996] 97/96] 19977] 1996
SHIPMENTS
All manufacturing industries... .. 337,386| 332,955} 334,064] +1.3] -0.3) — -0.4) 333,261] 332,962| 344,183] 312,202] +6.7]3,948,483 ]3,735,183
Market categories :
Automotive equipment 14,995] 14,696] 14,990} +2.0)  -2.0} +1.7} 13,060] 15,057) 16,575) 11,638) +12.2] 173,496] 166,342
Home goods and apparel 19,946] 19,538] 19,232} 42.1] +1.6f 1.5] 17,701] 20,584] 21,727] 16,388]  +8.0] 229,676] 219,057
‘Consumer staples . . . 69,828] 69,516] 69,500] +0.4] 0.0] +0.5] 70,059] 70,796] 72,042] 68,615] +2.1] 829,065] 802,092
Machinery and equipm: 62,162] $9,920] 60,469} +3.7]  -0.9]  -2.1] 69,178} 58,833] 59,825} 62,271] +11.1] 714,051} 653,894
Business supplics .... . 26,496] 25,883] 26,049] +24! -0.6]  +0.1] | 26,025] 26,318] 26,869] 24,220] +7.5] 307,247] 293,499
Construction materials
and supplies 21,042] 20,662] 20,854] +18] 0.9] 1.4) 19,074] 20,284] 22,236] 17,950] +6.3} 249,471] 235,093
Defense products 6,688] 7,313} 6,898) 8.5] +60, +5.3] 7,423) 7,417] 6,679] 7,656] —-3.0] 80,524] 76,791
Other materials, supplies and
and intermediate products... . . . 116,229] 115,427] 116,072] +0.7]  -0.6| —-0.3} 110,741] 113,673] 118,230] 103,464] +7.0] 1,364,953 ]1,288,415
Durable goods industries :
Nondefense capital goods? . . 48,331 46,971] 47,168] +29] -0.4] -2.7] 57,470] 45,533) 44,892) 52,302 +9.9] 556,171] 503,781
Excluding aircraft and parts 41,201] 40,034] 40,706] +29] -1.7| 1.3] 47,924] 38,769] 39,075] 44,092] +8.7) 473,891] 439,096
Defense capital goods ¢ -....} 6258] 6,914] 6,491] -9.5] +63] +53] 7,119] 7,114] 6,279] 7,422] 4.1] 75,982] 72,622
Durables excluding capital goods . | 131,163 128,962] 129,943] +1.7] -0.8] -0.| 122,357] 129,355] 137,126] 111,042] +10.2] 1,529,572 1,429,594
Miscellaneous series :
Producers’ durable equipment .... | 120,172] 116,988] 118,243] +2.7| 1.1] -0.9] 122,773] 116,562] 120,945] 110,216]  +11.4/1,386,315|1,287,317
Household durable goods .......] 10,347] 10,089] 9,874] +2.6 +2.2} -2.2) 9.842] 10,748] 10,949] 8,785] +12.0] 117,183] 108,875
Information technology industries 22,955] 21,920] 22,652] +4.7] 3.2} -1.5] 29,634] 21,563] 21,126] 26,737] +10.8) 264,997] 241,414
Health care equipment
and products .............0- 11,408} 11,069} 11,209} +3.1] 1.2] -0.7} 12,223] 10,891] 11,314] 11,491] 6.4] 132,692] 125,293
NEW ORDERS
All manufacturing industries 336,203] 344,833] 336,631] -2.5] #2.4]  +0.1] 331,239] 342,769} 348,981] 312,874] +5.9] 3,971,553 |3,770,368,
Market categories :
Automotive equipment .... . 15,016] 14,655} 15,020] +25] -2.4] +19] 13,090] 14,964] 16,579] 11,633] +12.5] 173,655] 166,309
Home goods and apparel 20,098] 20,255] 19,511] -0.8]  +3.8]  -2.1] 17,282] 20,623) 21,557] 15,844] +9.) 231,193] 219,062
Consumer staples . . . 69,859] 69.365] 69.467|  +0.7]  -0.1] | +05] 70,072] 70,617) 71,877] 68,655] +2.1] 829,034) 802,369
Machinery and equipm: 60,119] 72,127] 64,156] -16.6] +124] +3.4) 66,027] 71,121) 64,434] 60,611] +8.9] 732,383} 674,135
Business supplies 26,373] 25,790] 26,142] +23] -1.3)  +0.9) 25,844] 26,218] 26,786] 24,282) +6.4) 307,231] 293,768
Construction materials
and supplies 21,053) 20,663] 21,176] +19] -2.4] 0.0) 19,152] 20,148] 22,258] 18,500] +3.5] 250,589] 235,777
Defense products ... 6,884) 6,363] 5,239] +8.2] 421.5] -9.9] 10,079] 6,553] 5,030] 12,192] -17.3} 72,942] 84,210
Other materials, supplies and
and intermediate products ..... . 116,801] 115,615] 115,920] +1.0]  -0.3]-1.4] 109,693] 112,525] 120,460] 101,157] +8.4] 1,374,526 ]1,294,738
Durable goods industries :
Nondefense capital goods * ...... 45,996] 58,728] 49,930] -21.7] +17.6] +2.7] 54,290] 57,663] 48,604] 50,705} +7.1] 571,061} 526,951
Excluding aircraft and parts 41,213] 40,498) 41,618] +18] -2.7]| -2.2] 47,091] 39,606] 40,937] 41,370] +13.8] 481,518] 439,222
Defense capital goods‘... .. 6,609] 6,072] 4,725] +8.8} 428.5] -13.3] 9,898] 6,225] 4,469] 11,946] -17.1| 68,360] 79,998
Durables excluding capital goods . | 131,933] 129,941] 131,373] +15} 1.1] 0.6 120,974] 128,284] 140,720] 108,769] +11.2] 1,544,873 ]1,432,609
Miscellaneous series :
Producers’ durable equipment . 118,875] 129,737| 123,496] -8.4] +5. +3.0} 119,724] 128,761] 126,941] 108,888] — +10.0] 1,409,805 1,305,998
Household durable goods .......| 10,386] 10,574] 9.971] -1.8| +6.0}  -3.5] 9,423] 10,783] 10,885] 8,555] +10.1] 118,634] 108,715
Information technology industries . | 22,696] 21,730] 22,321] +44] -2.6] 2.5] 28,818] 21,544] 21,049] 24,934] +15.6] 267,636] 239,996
Health care equipment
and products. ..............5 11,522) 11,213) 11,294] 42.8) 0.7] +0.1] | 12,162] 11,047] 11,669] 11,022) +10.3] 133,544] 125,407

® Preliminary. * Revised.

' Topical series are regroupings of the separate industry categories.
2 Shipments and new orders are the totals for the period and are adjusted for trading-day and calendar-month variations.

* Nondefense capital goods industries include : ordnance and accessories; steam, gas and hydraulic turbines; internal combustion engines; construction, mining, and ma
handling equipment; metalworking machinery; special industry machinery: general industrial machinery; computer and office equipment; refrigeration, heating and se
industry machinery; electrical transmission and distribution equipment; electrical industrial apparatus; communications equipment; aircraf, missiles, space vehicles, and en
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,

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 Dee. Nov. Oct. Dec, Nov. Oct. Sept.
197° 1997" 1997 197° 1997" 1997 1997
All manufacturing industries ...... 134 136 135 2.84 2.89 2.82 2.78
Durable goods industries... .. 153 1.56 154 3.38 3.43 3.35 3.30
Stone, clay, and glass products 112 116 113 086 0.91 0.90 0.87
Primary metals -.... 2... 1.64 1.63 1.60 2.24 2.22 2.16 215
Fabricated metal products... . . 149 1s1 130 147 149 148 146
Industrial machinery and equipment . 172 178 174 219 2.28 2.25 224
Electronic and other
electrical equipment... 132 134 132 179 1.83 1.84 1.80
Transportation equipment . . : 134 136 159 1144 11.20 11.25 1091
Instruments and related products . :. . 185 1:90 181 3.60 3.65, 49 3.49
Nondurable goods industries . . 1.12 1.13 1.12 0.68 0.70 0.70 0.70
Food and kindred products 0.87 0.87 0.88 & (X) (x) (x)
Tobacco products. 187 181 181 (X) (x) &) &)
Textile mill products’. . 1.47 1.48 1:30 (NA) (NA) (NA) (NA)
Paper and allied products. 14 116 1s (NA) (NA) (NA) (NA)
Chemicals and allied produ 134 137 134 fer) & &) &
Petroleum and coal products 0.85 0.84 0.81 (e.0) () © (X)
Rubber and plastics products. 1:29 131 1:28 (X) (X) &) (X)

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

' Excludes the following industries with no unfilled orders : Wood and lumber products; glass containers; metal cans, barrels and drums; farm and garden machiner

motor vehicle assembly operations; other transportation equipment; foods and related products; tobacco; knitting mill products;

petroleum and coal products; and rubber and plastics products.

Table 9. REVISIONS TO PREVIOUSLY PUBLISHED MONTHLY PERCENT CHANGES

(Based on seasonally adjusted data)

apparel and related products; chemical

Shipments New orders Unfilled orders Inventories
Industry
Dee. Dec. Dec.
Dec? | 1996- Dec? Dec? | 1996- Dec? | 1996
Dec.! | 1992-] Nov. 1992- 1992- | Nov. | Dee.' | 1992-] Nov.
1997 | 1996 | 1997 1996 1997 | 1996 | 1997 | 1997 | 1996 | 1997
All manufacturing industries... . . x) 02 0.2 03 0.2 Ou (x) 01 Ol
Durable goods industries... . . . 0.1 02 0.2 04 Ou 01 &) 0.1 01
Stone, clay, and glass products . (xX) 0.6 04 12 0.6 08 (xX) 02 03
Primary metals... . : 02 07 03 V1 . 05 03 &) 02 01
Fabricated metal products . . : () 06 02 05 (x) 05 03 &) 03 0.1
Industrial machinery and equipment 0.0 05 05 05 F 04 02 X) 1 01
Electronic and other

electrical equipment... 0.0 04 07 05 0.0 0.2 06 (a) 0.2 01
‘Transportation equipment : 0.0 05 03 14 . 03 OL (&) 06 02
Instruments and related products... . &® 05 05 1s 02 03 (X) 03 02
Nondurable goods industries . x) 02 0.2 02 04 02 (X) Ol 0.1
Food and kindred products . 8 02 05 (X) (xX) (xX) 88 0.1 0.2
Tobacco products . . . (X) OL 01 (xX) (X) (X) (X) 0.0 0.1
Textile mill products... . (x) 03 02 (NA) (NA) | (NA) (xX) 03 0.1
Paper and allied products : &) 02 04 (NA) (NA) | (NA) &) 02 0.1
Chemicals and allied products . (x) 01 02 (X) ) (X) (X) (X) 0.1 On
Petroleum and coal products (xX) 0.6 03 (xX) (X) (X) (X) (X) 06 0.5
Rubber and plastics products . . : (x) 04 04 (X) (xX) (X) (Xx) (xX) 02 OL

Capital goods industries :
Nondefense -03 04 05 07 02 0.1 fe) 05 02
Defense . 05 14 08 76 04 02 (Xx) 03 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. Th

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

1 percent change revisions for th


CURRENT INDUSTRIAL REPORTS

ow
ay

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

Manufacturers’ Shipments,
Inventories, and Orders

December 1997
M3-1-(97)-12
For Wire Transmissions 10:00 a.m. E.S.T. February 5, 1998

For Data - (301) 457-4673
For Questions - Kathy Menth or Lee Wentela
(301) 457-4804 or (301) 457-4852

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

Summary

New orders for manufactured goods in December decreased $8.6
billion or 2.5 feteent to $3362 billion, ‘the Department of Commerce.
Bureau of the Census reported today, This fallows a 24 percent November
increase and is the first decline since May and the third this year. Excluding
transportation, new orders increased 1.2 percent, the first increase since
September. New orders for 1997 are 5.4 percent above the same period a
year ago.

Shipments increased $4.4 billion or 1.3 percent to $337.4 billion,
following a 0.3 percent November decrease. This is the first increase since
September and the seventh this year. Shipments for 1997 are 5.7 percent
above 1996.

Unfilled orders, down for the first month since July, decreased $1.2
billion or 0.2 percent to $541.2 billion, following a 2.2 percent November
imerease, ihe unfilled orders-to-shipments ratio Was 2.84, down from 2.89
in November.

Inventories, down for the first month since December 1996,
decreased, $0.4 billion or 0.1 percent to $453.7 billion, following a 0.5
percent November increase. The inventories-to-shipmenis ratio was 1.34,
down from 1.36 in November.

New Orders

New orders for manufactured durable goods in December decreased
$10.2 billion or 5.2 percent to $184.5 billion, revised from the pyeviously
pubjished 6.1 percent decrease. This follows a 4.7 percent November
increase and is the second decline in the last three months and the fourth this
year.

Transportation equipment, down for the first month since September,
had the largest decrease, $12.6 billion or 21,8 percent to $43.0 billion; a
large decline in aircraft and parts was partially offset by increases led by
shipbuilding and tanks. This follows a 21.8 percent November increase.
rimary metals decreased $0.6 billion or 3.5 percent to $15.4 billion,
following a 1.8 percent November increase. This is the second decrease in
the last three months and the fourth this year. Electronic and other electrical
equipment, up for the first month since August, increased $1.1 billion or 3.7
reent to’ $30.6 billion, This follows a 1.9 percent November decrease.
Industrial machinery and equipment, up for the first month since September.
increased $0.6 billion or 1.6 percent to $34.6 billion. This follows a 1.6
ercent November decrease. Stone, clay, and glass products, up three of the
last four months, increased $0.2 billion or 2.6 percent to $7.7 billion,
following a 4.4 percent November decrease. Instruments and relate
products, up for the fourth consecutive month, increased $0.2 billion or 1.2
percent to $13.9 billion. This follows a 1.3 percent November increase.

New orders for nondurable goods, up three of the last four months,
increased $1.6 billion or 1.0 percent, to. 61517 billion, following 2-03
percent November decrease. Paper and allied products, chemicals and allied
products and food and kindred products had the largest increases; petroleum
and coal products had the largest decrease.

Shipments

Shipments of durable goods in December, up forthe frst month since
September, increased $2.9 billion or 1.6 percent to $185.8 billion, revised
from the previously published 1.5 percent increase. ‘This follows a 0.4
percent November decrease and is the eighth increase this year. Industrial
machinery and equipment, up for te first month since September, had the
largest increase, $1.5 billion or 39 percent (0 $35.3 billion. This follows a
2.2 percent November decrease. Electronic and other electrical equipment
also up for the first month since September, increased $0.6 billion or 1.9
percent to $30.7 billion. This follows a 0.3 percent November decrease.

Instruments and related products, up for the first month since September,
increased $0.3 billion or 2.1 percent to $13.5 billion. This follows a 3.
percent November decrease. Stone, flay. and glass products, up for the first
month since September, increased $0.2 billion or 3.3 percent to $7.8 billion
This follows a 1.3 percent November decline. Fabricated metal products, up
for the first month'since September, increased $0.2 billion or 15 percent to
$19.6 billion. This follows a 0.4 percent November decrease.
Transportation equipment increased 0.1 percent, to $43.9 billion as an
increase in motor yehicles and parts more than offset a decrease in aircraft
and parts. This follows a 1.6 percent November increase and is the third
increase in the last four months.

_ __ Shipments of nondurable goods, up three of the last four months,
increased $1.5 ‘billion or 1.0 percent to $151.6 billion, following a 0.
percent November decrease. Chemicals and allied products, printing and
uublishing, paper and allied products, and food and kindred products had the
largest increases; petroleum and coal products had the largest decline.

Unfilled Orders

Unfilled orders for durable goods in December decreased $1.2 billion
or 0.2 percent to $514.8 billion, revised from the previously published 0.4
ercent decrease. This follows ‘a 2.4 percent November increase and is the
irst decline since July. Transportation equipment, down for the first month
since September, declined $0.9 billion or 0.4 percent to $261.1 billion, as a
large decline in aircraft and parts more than offset increases led by
phipbuilding and tanks. This follows a 4.4 percent November increasc.
Industrial machinery and equipment, down two of the last three ‘months,
decreased $0.7 billion or 1.0 percent to $73.0 billion, following a slight
November increase. Electronic and other electrical equipment, down for the
third consecutive month, decreased $0.1 billion or 0.2 percent to $54.9
billion. This follows a i.1 percent November decrease. ‘Stone, clay, and
ass products, down for the second consecutive month, decreased $0.1
illion or 1.7 percent to $6.4 billion. This follows a 0.9 percent November
decline. Instruments and related products, up for the second consecutive
month, increased $0.4 billion or 0.8 percent to $48.8 billion. This follows
a 1.0 percent November increase.

Inventories

Inventories of durable goods in December decreased $0.7 billion or 0.2
percent to $284.0 billion, following a 0.4 percent November increase. This
is the first decrease “since September and the second this year.
Transportation equipment, down for the first month since December 1995.
decreased $1.1 billion or 1.6 percent to $67.6 billion. This follows a 03
percent November increase. Fabricated metal products down for the first
month since September 1996, decreased $0.1 billion or 0.3 percent to $29.1
bilion Electronic, and ‘other, elecitical equipment, “up forthe third
consecutive month, increased $0.2 billion or 0.5 percent to $40.5 billion,
following a 0.6 percent November increase. Primary metals, up for the third
consecutive month, increased $0.1 billion or 0.6 percent to B25. 1 billion,
following a 0.3 percent November increase. Industrial machinery an
equipment, up eight of the last nine months, increased $0.1 billion or 0.2
percent to $60.7 billion. This follows a 0.2 percent November increase.

Inventories of nondurable goods, up sixteen of the last_seventeen
months, inoreased $0.2 billion or 0.1 percent to $169.8 billion, following a
0.5 percent November increase. Food and kindred products had the largest
increase; petroleum and coal products had the largest decline.

in duet gtt8e of fabrication, December finished goods decreased 0.5 percent
in durables “and 0.5 percent in nondurables. Work in process decreased
slightly in durables and increased 1.1 percent in nondurables. Materials and
Supplies, decreased 0.3 percent in’ durables and increased 0.4 percent in
nondurables.

(Sce Back Page for 1998 Release Dates)

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

‘The advance report on durable goods for January is scheduled for February 26, 1998 at 8:30 a.m. and the full report on March 5, 1998 at 10:00 a.m. For sale by the Superintendent of
Documents, U.S. Government Printing Office, Washington, DC 20402. This report is available on the day of issue through the Department of Commerce's online Economic Bulletin Board


Nondefense Capital Goods "1

New Orders and Shipments

Three Month Moving Averages
Billions of Dollars

‘New Orders

82f]) ~~ | ----------------------------------p -{ 52

Shipments

Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec
Dec. 1995 - Dec. 1997

Defense Capital Goods
New Orders and Shipments

Three Month Moving Averages
Billions of Dollars
10 10

New Orders
9 ow ences |_|

Shipments

4
Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec
Dec. 1995 - Dec. 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
Dec. Nov. Oct. | Nov | Oct- | Sept- Dec. Nov. Oct. Dec. | Dec.
1997” 1997 1997 | Dec. | Nov. | Oct. | 1997” 1997" 1997 1996 | 97/96
MATERIALS AND SUPPLIES
All manufacturing industries... . . 148,081 | 148,035 | 148,806 147,847 | 148,206 | 149,648 | 144,533 423
Durable goods industries ......... 86,899 | 87,127 | 87,261 86,623 | 87,840 | 88,035 | 83,721 43.5
Stone, clay, and glass products 2/981 2959 | 2/927 2975 | 21944 | 2.934 | 2855 +42
Primary metals ~.. 2... . 8,030 | 7983 | 8.087 8296 | 8126 | 8260 | 8075 427
Fabricated metal products ... | 10559 | 10/572 | 10,545 10,730 | 10,478 | 10460 | 10,455 +26
Industrial machinery and equipment 18,067 | 18,364 | 18,436 17,596 | 18,645 | 18,580 | 17,365 +13
Electronic and other
electrical equipment 13,879 | 13,796 | 13,636 13,641 | 13,780 | 13,793 | 13,280 | 42.7
Transportation equipment . . 14564 |. 14573 | 14,846 14379 | 14673 | 14,882 | 13,678 | 45.1
Instruments and related produ 8543 | 8,607 | 81548 8407 | 8575 | 8543 | 77814] +76
Lumber, furniture and
miscellaneous durable goods . 10,276 | 10,273 | 10,236 10,599 | 10,619 | 10,583 | 10,199 | +3.9
Nondurable goods industries 61,182 | 60,908 | 61,545 61,224 | 60,366 | 61,613 | 60,812 | +0.7
Food and kindred products 10,986 | 10,850 | 11,186 1166 | 11,108 | 11,608 | 11,616 39
‘Tobacco products S119 228 294 31456 | $120 | 5.181 3435, +04
Textile mill products 3,057 | 3059 | 3,121 3,006 | 2976 | 3026 | 3,034 09
Paper and allied products . . 77820 | 7,775 | 7.748 77885 | 7,749 | 7,772 | 71964 -1.0
Chemicals and allied products 14547 | 14/522 | 14,499 14.444 | 14438 | 14/450 | 13/806 44.6
Petroleum and coal products 3,658 | 3,643 | 3,679 3522 | 3,510 | 3,708 | 3.511 403
Rubber and plastics products 6379 | 6315 | 6318 6419 226 | 6.238 | 6.212 433
Apparel, printing and publishing
and leather goods ............. 9616 | 9,516 | 9,700 9326 | 9,239 | 9,630 | 9,234 +10
WORK IN PROCESS
All manufacturing industries 146,311 | 146,009 | 144,027] +02] +14 | 41.2 | 141,368 | 147,278 | 145,487 | 132,443 +67
Durable goods industries... . 116,575 | 116,590 | 115,099 0.0} +13 | +10 | 112,409 | 117,305 | 115,573 | 106,526 45.5
Stone, clay, and glass products 1247 263 285 3] -17 | +03 11s 1167 1.207 1177 18
Primary metals 7.0... .. 8355 | 8810 | 8723 | +05] +10] 04] 8749 | 8642 | 81622 | 81828 -0.9
Fabricated metal products . | 8106 | 8176 | 8,080 09] +12] 04] 7911 8,136 | 8,095 | 7,422 +66
Industrial machinery and equipment 23,792 | 23,184 | 22,937 42.6 +11 +0.9 | 22,648 | 23,401 23,047 | 21,345 +6.1
Electronic and other
electrical equipment ..... 15,404 | 15,203 | 14,985 | +13] 415] -05 | 14,940] 15,246 | 15,038 | 14,492 43.1
Transportation equipment... 22... | 44021 | 44765 | 44/156 17] +14 | +426 | 421446 | 45/567 | 44;617 809 +94
Instruments and related products .°. | 9.829 | 9886 | 9.710 06) +18] -13 | 9396 | 9937] 9.714 24
Lumber, furniture and
miscellaneous durable goods . 5,321 $303 | 5,223 | +03] +15] +06] 5,163 5,209 | 5,233 | 4,826 +70
Nondurable goods industries . . 29,736 | 29,419 | 28,928 | +11] 41.7] +20 | 28,959 | 29,973 | 29,914 | 25,917 | +117
Food and Kindred products 53510 | 5,515 | 53340 1] 433] +19 821 1086 | 6.139 3159 | +128
Tobacco products... . 131 99 M1 | 4323 | -108 | -19.6 133 155 157 36 | -62.6
Textile mill products . ; 2,627 | 2,623 | 2,635 | +02] -05 | +23 | 2517] 2615 | 2,639] 2,429 43.6
Paper and allied products . 1,870 1,785 1777 | +48] +05] -03 1,861 4719 | 1,720 1683 | +106
Chemicals and allied products 8446 | 8307 | 8121 | 417] 423 | 45.7 | 8268] 81284 | 8118 | 6672 | +239
Petroleum and coal products 2,562 | 2693 | 2:705 49} 04] +08] 2395 | 2.706 | 2,737 | 21589 “15
Rubber and plastics products 267 | 2,206 | 2189 | +28] +08] -5.0 | 2:236 | 2/241 27216 | 21046 +93
Apparel, printing and publishing
and leather goods ........... 6323 | 6,191 | 6,050} +21] +423 | +16] 5,728} 6167] 6188 | 4,983 | +15.0
FINISHED GOODS
All manufacturing industries... . 159,346 | 160,138 | 159,306 -05 | +05 | +07 | 153,968 | 159,037 | 158,086 | 147,486 +44
Durable goods industries ....... 80,511 | 80,932 | 81,117 05 | 0.2 | +07 | 76,928 | 80,102 | 80,065 | 73,690 +44
Stone, clay, and glass products 4536 | 4523 | 4418 | +03 | +24 28] 4410} 4303 | 4177 | 4353 +13
Primary metals"... . 8219 | 8163 | 8065 | 407] +12] +0.7| 8129] 008 | 73802 | 7,898 429
Fabricated metal products... ... | 10.425 | 10.418 | 10.404] +01 | +01 | +25 | 9/923 | 10,065 | 10059 | 9063 495
Industrial machinery and equipment 18,833 | 19,044 | 19,114 Al] 04] +07 | 18191 | 19,165 | 18919 | 17,394 +46
Electronic and other
electrical equipment .... 11221 | 11,303 | 11,427 07] ld] 417] 10,534] 11,279 | 11,421 | 10,253 427
Transportation equipment ........ | 8,981 9292 | 9/501 33} 22] -15 | 81037 244 | 9,619 | 8,017 +02
Instruments and related products . | - 6.721 6667 | 6642 | +08] +04] +09] 6519 | 6802 | 6817 | 6,182 455
Lumber, furniture and
miscellaneous durable goods . . . 11,575 | 11,522 | 11,546 | +405] -02] +09] 11185 | 11,236 | 11,251 | 10,530 +62
Nondurable goods industries 78,835 | 79,206 | 78,189 05} +13] +08 | 77,040 | 78,935 | 78,021 | 73,796 +44
Food and Kindred products 19,414 | 19.299 | 18.987 | +06] +16] +10] 19305 } 20,122 | 19893 | 18191 +61
Tobacco products. 868 ‘905 76. 41} +188 | +72 957 1132, 933 870 | +10.0
Textile mill products. 4,562 | 4,563 | 4,558 00} +01 0.1 4272 | 4449 | 4,450 | 4,128 435
Paper and allied products . 6583 | 6617 | 6,554 05} +10] -03 | 6401 6517 | 6383 | 6,379 +03
Chemicals and allied produ 21456 | 21641 | 21274 09 | +17] +16 | 21433 | 21407 | 20.884 } 20.555 +43
Petroleum and coal products 6,074 | 6123 | 6079 08} +07) -14 .737 15: 6,091 5,74: 40.2
Rubber and plastics products 1856 | 7,943 | 7,868 “| +10 | +16 | 7,661 7649 | 7342 | 7291 +5.1
Apparel, printing and publishing
and leather goods ......... +... 12,022 | 12,115 | 12,107 08} 40.1 f. 40.5 | 11,254 | 11,501 | 11,845 | 10,638 +58

P Dealiminnny f Dasiinad


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
Dec. Nov. Oct.| Nov] Oct-| Sept Dee. Nov. Oct. Dec.} Dec.
1997" 1997" 1997] Dec.| Nov.] Oct. 1997" 197° 1997 1996] 97/96
All manufacturing industries... .. 541,193] 542,376] 530,498 02 42.2 40.5] 535,289] 537,311] 527,504} 512,219] 44.5
Manufacturing industries
without defense capital goods ..... 437,316 | 438,850] 426,130 03 +3.0{ +1.0| 431,233] 436,034] 425,338] 400,541 47.7
Durable goods industries... . . 514,847} 516,061] 504,167 02] 424] 40.5} $10,143] 511,927] 501,957] 487,574] +46
Stone, clay, and glass Products o 6418] 6,531 6,588 “17 09] 43.0] 6,162} 6,242 6371 6577} 6.3
Primary metals... . 34,208] 34,110] 33,532} 40.3] 9 #1.7] 40.3] 33,315] 32,468] 32,129] 28,438] +17.1
Blast furnaces, steel mills... | 14308] 14119] 13576] 428] +40] 429] 13913] 13,296] i240} 11535] +206
Iron and steel foundries... 1... 5,558 5,446 5,182 +21 +5.1 40.6 $5,430 5,220 4,998 4,292] +26.5
Nonferrous and other primary
metals 14,142] 14,545] 14,774 2.8 “16 2.0} 13,972] 13,952] 14,291] 12,611] +10.8
Fabricated metal products .. . 27,010| 27,092] 26,976 03 +0.4 +11 26,661 26,714| 26,839] 24,230] +100
Industrial machinery and equipment. | 72.996] 73,712 73.676 -10 0.0} -02] 72,937] 74,435] 73,682) 72,164] +1.
Engines and turbines ........ 11,702] 11,951] 11,847 21} +409] +11] 12,284] 12,504] 12,288] 12,701 33
Construction, mining and
material handling equipment. - 10,603] 10,266] 10,002} +33] +26] +36] 10,380) 9,979] 9,787 8,629] +203
Metalworking machinery ..... : 7,144 7577 7,610 537 12 0.6 7,144 7,571 7,670 8210} -13.0
Computer and office equipment . . . 7,955 8,093 8.251 17 19] -40] 7,756] 8,455 8413] 9,781] -20.7
Electronic and other
electrical equipment ........... 54,945 55,059] 55,675 02 -Ll 0.2] 52,882] 55,180] 57,266] 47,862} +10.5
Electrical transmission and
distribution equipment and
industrial apparatus .......... 6,404] 6,203 6152] 432] +08 5.0] 6,218] 6115] 6,096] 6,302 AB
Electric lighting and
wiring equipment... 2... 2... 4827| 4,779] agit] +10] 0.7] +42] 4,827] 4,779] 4g 4414] +94
Communications equipment 14,292] 14,766] 14,879] -3.2 08 -1.6] 14,309] 14,761] 14,926] 12,400] +154
Electronic components | 23124] 23,008] 23,341] 40.1 1.0] +08] 21,713] 23574] 24.907] 19,761] +9.9
Transportation equipment ......... 261,107] 262,041] 250,936 04] +44] +08) 260,778] 259.956] 248,996] 255,735} — +2.0
Aircraft, missiles,
space vehicles, and parts. . 225,708 | 228,445] 217,961 12] +48] 40.4] 225,643] 226,696} 216,203} 222,909] +1.2
Shipbuilding and tanks : 18,563] 17,480] 17,398 +62 +0.5 25] 18,420] 17,415} 17,440] 19,453 53
Instruments and related products .... | 48,795] 48,422] 47,935] +08] —-+1.0 03) 48872] 47,935] 47,570] 45,812] +6.7
Search and navigation equipment 28,578 | 28.449] 28,332] +0.5 +04 -1.0] 28,805] 27,954) 27,841] 27,617 +43
Measuring and controlling devices . 10,117] 9.924] 9.940] +19 0.2) 43.0) 10,117] 9,924) 9,940 9,747) $3.8
Medical instruments and supplies 8,274 8.161 Bois} +14] 418] HLL 8,266 8,324 8,168 7,426{ +113
All other durable goods . . 9368] 9094] gg4o] 43.0] +28] +33 8,536 8,997] 9,104 6.756] +263
Nondurable goods industries ...... . 26,346{ 26,315] 26,331 +0.1 01 +0.5| 25,146] 25,384] 25,547] 24,645 +2.0

? 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

Nov. Oct. Dec.

Dec.| Nov. | Oct. | Nov.- | Oct-| Sept-] Dec. Dec.
Oct} 19977] 1997"| 1997] 1996] 97/96 | 19977 | 1996

1997" | 197°] 1997] Dec. | Nov.

All manufacturing industries... . 336,203] 344,833] 336,631] -2.5] +241 +0.1] 331,239} 342,769] 348,981] 312,874] — +5.9]3,971,553 [3,770,368
Manufacturing industries

with unfilled orders»... 2.0... 189,541} 199,839] 190,792} -5.2] +4.7] +0.21 193,864} 198,321] 196,402] 180,361] — +7.5] 2,236,260 [2,098,348
without defense capital goods . . . . .| 329,594] 338,761! 331,906] -2.7] #2.1|  +0.3) 321,341] 336,544] 344,512] 300,928] — +6.8| 3,903, 193 [3,690,370

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

184,538] 194,741} 186,028) -5.2] +4.7} — -0.1] 185,162] 192,172] 193,793] 171,420) +8.0| 2,184,294 |2,039,558
150,888] 162,131] 152,792] -6.9]  +6.1 0.1] 155,854] 159,805] 157,573] 144,893 +7.6 | 1,792,317 |1,666,259
7,699) 7,506] 7,852) +2.6 -44[ +1.7) 6,700) 7,330] 8,327] 6,283 +6.6 90,845} 83,133
15,362] 15,915} 15,633) -3.5] +18) -6.4) 14,942) 15,396] 15,555] 14,318 +44) 189,060) 174,865
6,684] 6,713 6,563} 0.4) 423) +11 6415} 6,402] 6,482) 5,683) +12.9 76,935] 72,295
1,703) 1,772 1,590] -3.9) +114] -3.2| 1,542! 1,695) 1,650} 1,336) +15.4 18,964] 17,349

6,975, 7,430) 7,480) -6.1 0.7] -12.8) 6,985) 7,299} 7,423 7,299) 43 93,161} 85,221

Fabricated metal products ........] 19,470} 19425] 19691] +02) -1.4) -0.6 181066] 18968] 20,545] 17/054] +5.9| 230/302] 217.468
Industrial machinery and equipment .| 34,585| 34,027] 34,592] +1.6) -1.6| 2.2 36,766] 33,108] 34,647 34,134] +7.7| 406,991] 379,817
Engines and turbines .......... 1,702] 2,046] 2,140] -16.8]  -4.4) +142] 2,158) 2,198] 2,259] 2.558) -15.6] 22.174] 22,569

Construction, mining and
material handling equipment . .
Metalworking machinery -
Computer and office equipment .
Electronic and other
electrical equipment ........ ++] 30,633] 29,548] 30,132} +3.7}  -1.9]  -4.2} 31,738] 29,079] 33,367] 25,457] +24.7| 359,148] 321,390
Electrical transmission and
distribution equipment and
industrial apparatus ........... 3,615] 3,403] 3,108] +6.2] +9.5) -10.0) 3,440] 3,272] 3,041] 2,869] +19.9] 39,649] 38,000
Electric lighting and
wiring equipment

4,328) 4,237] 4,298) +2.1 -14] +45) 4,328] 3,967) 4,449) 3,628} +19.3 47,573] 41,818
3,001} 3,316) 3,390} -9.5] 2.2}, 43.8] 3,152] 3,618] += 3,623) 3,022) +43) 40,055} 36,863
9,391 8,659) 8,881} +8.5) 2.5) -6.2) 12,308) 8,399) 8,034) 11,471 +73) 107,671} 101,542

2,287 2,146) 2,370) +6.6) 95) 412.1 2,390) 2,249) 2,344) 2,266) 45.5 26,096} 24,573

Communications equipment ---..] 6202] 61354 6/542) 2.4] 29-88} 91122) 6319] 6198] Goss} +364{ 79°204] 66,989
Electronic components .........| 12,714] 12,190) 12385] +43] 1.6 -3.0_ 11.373] 11,372] 15,248] 8.581] 432.5] 146,657] 127,371
Transportation equipment ......... 42,985] 54,987] 45,142] -21.8] +218] +6.7] 43,790] 55,392] 47,296] 43,563] +05] 514,771] 502,861

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

8,031] 21,692] 10,713] -63.0} +102.5] +21.7] 12,690] 21,668] 10,068) 15,723] -19.3] 127,069] 134,097
1,952 983 466} +98.6] +110.9} -52.9] 2,043, 851 403 2,491 -18.0 9,630] 11,975
13,909} 13,748] 13,573] +1.2] +13] +4.6)° 15,397] 13,664) 13,284] 14,286) +78} 160,797] 145,455

Search and navigation equipment .| 2,755] 2,713| 2,690] +1.5] +0.9) +133} 3,633] 2,746] 2,385] 3,579| +15] 33,084] 28,047
Measuring and controlling devices .] 4,135] 3,968| 4,336] +4.21 -8.5] +14.6| 4.387] 3,961] 4,231] 4.446] -1.3] 47.283] 43,712
Medical instruments and supplies .| 4,538] 4,433 4,428] 42.4) +0.1) +091 4,823] 4350 4,535] 3,921] +23.0] 51,088] 46,881
All other durable goods .......... 19,895] 19,585] 19,413] +1.6) +09) -2.1] 17,763] 19,235] 20,772] 16,325] +8.8] 232,380] 214,569

Nondurable goods industries

151,665} 150,092] 150,603} +1.0} 0.3} +0.4) 146,077] 150,597) 155,188} 141,454] $3.3] 1,787,259 }1,730,810
With unfilled orders .

38,653} 37,708} 38,000) +2.5} -0.8)  +1.0) 38,010) 38,516] 38,829) 35,468] +7.2{ 443,943} 432,089

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

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

Note : Estimates of manufacturers’ shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling
which includes errors of coverage, response, and nonreporting. Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. Ft
details on survey design, methodology, and data limitations are contained in our most recent annual benchmark publication, Current Industrial Reports: M3-1
"Manufacturers’ Shipments, Inventories, and Orders: 1987-1996."


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
Dec.] Nov.| Oct. | Nov.- | Oct-| Sept-| Dec. ] Nov.] Oct.] Dec. } Dec,
1997" | 1997] 1997] Dec.] Nov.} Oct.] 19977] 1997"] 1997] 1996] 97/96} 19977] — 1996
All manufacturing industries... . . 337,386] 332,955] 334,064] +1.3]  -0.3| -0.4) 333,261] 332,962] 344,183] 312,202] — +6.7]3,948,483 [3,735,183
Manufacturing Industries
with unfilled orders .......... 190,724] 187,961] 188,225] +1.5| -0.1]_-0.7} 195,886] 188,514] 191,604] 179,689] —_+9.0] 2,213,190 [2,063,163
without defense capital goods . . . | 331,128} 326,041] 327,573] +1.6| -0.5]_-0.5] 326,142] 325,848] 337,904] 304.780] +7.0|3,872,501 [3,662,561
Durable goods industries 185,752] 182,847] 183,602} +1.6]  -0.44 186,946] 182,202] 188,297] 170,766] — +9.5} 2,161,725 2,003,997
With unfilled orders... . . 152,102] 150,237] 150,366] +1.2)  -0.1 157,638] 149,835] 152,077] 144,239] +9.3] 1,769,748 |1,632,698
Stone, clay, and glass Products : 7,812} 7,563) 7,662) +33) -13) 6,780] 7,459] 8,393] 5,979] +13.4] ° 91,260] 83,365
Primary metals... . 15,264] 15,337] 15,523] -0.5]  -1.2 14,095] 15,057] 15,888] 13,599] 43.6] 184,183] 173,619
Blast furnaces, steel mills . 6.295) 6,170] 6.184] +20] 0.2] 5,798] 5,946] 6,381] 5,599] +3.6] 74,557] 72,268
Iron and steel foundries. . 1,591] 1,508] 1,561] +55] -3.4] 1,332] 1,473] 1,686] 1,123] +186] 17,826] 16,592
Nonferrous and other primary
metals... 7,378] 7,659] 7,778] -3.7]-1.5] 1.0) 6,965] 7,638] 7,821] 6,877| +13] 91,800] 84,759
Fabricated metal products -| 19,552] 19,309] 19,387] +13] -0.4/ 0.3) 18,119] 19,093] 20,556] 16,702) +8.5| 227/871] 215,427
Industrial machinery and equipment .] 35,301] 33,991] 34,755] +3.9} -2.2| -1.1] 38,264] 32,355] 33,770] 35,342] +8.3] 406,218] 378,366
Engines and turbines ..... . 1,951] 1,942} 2,006} +05] -3.2) +5.0) 2,468] 1,892] 1,861] 2,633] -6.3] 22,591] 22,162
Farm and garden machinery 2,008} 1,696} 2,008] +184] 15.5] -7.6 1,550] 1,371] 1,928) 1,355] +14.4) 24,031] 22,344
Construction, mining and
material handling equipment 3,991] 3,973] 3,955] +05] +05) +0.7] 3,927/ 3,775] 3,948] 3,537] +11.0] 45,822] 41,557
Metalworking machinery «| 3,434) 3,409] 3,433) 40.7] -0.7) -6.4) 3,585] 3,711] 3,666] 3,379] +6.1] 41,121] 36,819
Computer and office equipment . . 9,529) 8,817] 9,222) 48.1] -4.4)  -2.7] 13,007| 8,357] 8.122] 11,923) 49.1] 109,696] 101,207
Electronic and other
electrical equipment .......... 30,747] 30,164) 30,242] +19] -0.3] -2.5] 34,036] 31,165] 30,358] 30,592] +11.3] 354,128] 323,001
Electrical transmission and
distribution equipment and
industrial apparatus . . 3414] 3,352) 3,434) 41.8] -2.4]  -2.2] 3,337] 3,253] 3,347) 2,992] +11.5] 39,733] 37,783
Household appliances . 2,254] 2,154] 2,166) +46] -0.6f +1.4| 2,159] 2.086] 2,206] 1,876) +15.1] 24,782) 23,431
Electric lighting and
wiring equipment ............. 2,239] 2,178] 2,178] +281 0.0) -2.3] 2,342] 2,281) 2,152) 2,131] +9.9] 25,683] 24,041
Household audio and
video equipment ......... 1,437} 1,370] 1,284) +49) 46.7] 1.2) 1394] 1,719] 1,727} 1,230} +133] 15,878] 14,903
Communications equipment . 6,676] 6,467| 6,780] +3.2|  -4.6] +0.7| 9,574] 6.484) 6,400] 8.618] 411.1] 77,295] 68,091
Electronic components... . 12,688] 12,433] 12,195] +2.1] +2.0 4.5 13,234] 12,705] 12,061] 11,656 +13.5] 144,705] 128,942
Transportation equipment 43,919] 43,882) 43,177] +01] +1.6 -0.2) 42,968] 44,4321 45,426] 38,488 +11.6] 509,728] 471,661
Motor vehicles and parts 30,268) 29,780} 30,603] +1.6] 2.7] 42.4) 26,385] 30,401] 33,562| 23,358] +13.0] 352,537] 334,633
Aircraft, missiles,
space vehicles, and parts. 10,768] 11,208] 9,885] -3.9) +13.4)  -5.8) 13,743] 11,175] 9,152} 12,255] +12.1] 124,335] 103,753
Shipbuilding and tanks. . . 869| 901 919] -3.6] -2.0) +80} 1,038] '876| 835] 1,206] -13.9| 10,663] 10,957
Instruments and related products . . 13,536] 13,261] 13,729] +21) -3.4] -0.5] 14,460} 13,299] 13,418] 13,278] +8.9] 157,737] 146,199
Search and navigation equipment 2,626] 2,596 2,968] +12] -12.5} .7| 2,782) 2,633} 2,831] 2,694] 43.3} 31,896] 29,207
Measuring and controlling devices .] 3,942] 3,984] 4,046] -1.1] -1.5 4,194] 3,977] 3,941] 3,968] +5.7) 46,913] 43,689
Medical instruments and supplies .| 4,425] 4,290} 4,342) 43.1] -1.2 4,881] 4,194] 4,179] 4,389] +112] 50,248] 46,773
Photographic goods . . = +] 2052] 1,939} 1,910) +5.8] 41.5 2,128] 2,051) 2,011] 1,835] +16.0] 23,245] 22,039
All other durable goods 19,621] 19,340] 19,127] +15] +1.) -2.3] 18,224] 19,342] 20,488] 16,786] +8.6] 230,600] 214,359
Nondurable goods industries 151,634] 150,108] 150,462) +1.0]  -0.2] +0.4] 146,315] 150,760] 155,886] 141,436] _+3.4] 1,786,758 ]1,729,186
With unfilled orders . . 38,622) 37,724] 37,859] 42.4] -0.4)  +1.1) 38,248] 38,679} 39,527] 35,450] +7.9] 443,442] 430,465
Food and kindred products. 41,142] 40,784] 40,219] +09} +14] +12) 40,786] 41,898] 41,955] 39,120] +4.3] 482,700] 471,633
Meat products . . 8817] 8,801] 8,661] +02] +16 +05] 8,720] 8991] 8.959] 8,707] +0.1] 106,250] 105,397
Dairy products 5371} 5,108] 5,051) $5.1] +11] +45] 5,339] 5,335] 5,028} 4,915] +8.6) 60,610] 59,197
Beverages . -| 6,135] 6,126) 6,218] +01] -1.5] 43.3) 5,742] 5861] 6,147} 5,413] -+6.1] 71,175] 68,786
All other foods, except “fats and oils | 18,432] 18,572| 18,177] -08| +22] +04] 18598] 19:534] 19;709] 17.918] +38] 219/909] 214.570
Tobacco products . +-| 3,266} 3,449] 3,398] -5.3] +15] +0.7} 3,148] 3,627] 3.431] 2.998] +5.0| 38,704] 34.492
Textile mill products 6,990] 6,912] 6,855] +11] +08) -0.6 6,372) 6,966) 7,160] 6,138] +3.8] 82,151] 78,505
Broadwoven fabrics and
other textiles... 4246] 4,204] 4,278] +1.0] 1.7] +1.9} 4,025] 4,092} 4,348] 3,941] 42.1] 50,332] 48,765
Paper and allied products . 14,270] 13,907] 14,008} +2.6] -0.7| +1.3) 13,857] 13,739] 14,353] 12,822] +8.1] 162,916] 161,968
Pulp, paper, and
paperboard mill products ......] 5,679] 5,560] 5,572} +21] -0.2) +13] 5,588) 5,503} 5,672] 5,156] +8.4] 64,544] 65,393
Paperboard containers and boxes ..] 3,559] 3,509] 3,418] +1.4{ +2.7/ 42.4) 3,338] 3,443] 3,547] 3,052] +9.4) 39.746] 39,609
Miscellaneous converted
Paper products . . 5,032] 4,838] 5,018] +4.0)  -3.6 +06) 4,931] 4,793] 5,134] 4,614] +6.9] 58,626] 56,966
Chemicals and allied produ 33,137| 32,535] 32,836] +19} -0.9] 0.1) 32,056] 31,042] 32,498] 30,829] +4.0] 391,659] 372,848
Industrial chemicals... . . : 16,120] 16,078] 16,046] +03] +02) 0.7} 15,153] 15,483] 15,815] 14,680] +3.2} 191.845] 182.458,
Drugs, soaps, and toiletries . . 12,835] 12,455] 12,619) +3.1f  -1.3] -0.4 13,541] 12,310] 13,108] 13,116] +3.2| 151,600] 144,458
Petroleum and coal products . . . 14,454] 14,786] 15,337] -22]  -3.6-L.1 14,009] 14,869] 15,934] 15,817] -11.4] 183,213] 180,122
Rubber and plastics products. . 12,747] 12,596 12,758] +12} 1.3] +11) 11,304] 12,099] 13,247] 10,617] +6.5] 149,488] 143,888
All other nondurable goods. . . 25,628| 25,139] 25,051] +19} +04) +0.1] 24,783] 26,520] 27,308] 23,095] +7.3| 295,927] 285,730

T Preliminary. * Revised.

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