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FOR RELEASE AT 8:30 AM EST, FRIDAY, DECEMBER 21, 2018

MONTHLY ADVANCE REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND

ORDERS NOVEMBER 2018

Release Number: CB 18‐184 M3‐1 (18)‐11

December 21, 2018 — The U.S. Census Bureau announces the November advance report on

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in November increased $1.9 billion or 0.8 percent to $250.8

billion, the U.S. Census Bureau announced today.  This increase, up following two consecutive monthly

decreases, followed a 4.3 percent October decrease.  Excluding transportation, new orders decreased 0.3

percent.  Excluding defense, new orders decreased 0.1 percent.  Transportation equipment, up three of

the last four months, drove the increase, $2.5 billion or 2.9 percent to $87.0 billion.

Shipments

Shipments of manufactured durable goods in November, up three of the last four months, increased $1.8

billion or 0.7 percent to $256.7 billion.  This followed a 0.4 percent October decrease.  Transportation

equipment, also up three of the last four months, led the increase, $1.8 billion or 2.0 percent to $89.5

billion.

DURABLE GOODS – NEW ORDERS

NOVEMBER 2018 $250.8 billion             +0.8%°   

OCTOBER 2018  

(revised) $248.9 billion             ‐4.3%°

Next release: January 25, 2019

Data adjusted for seasonal variation but not for price changes.

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories and Orders, December

21, 2018.

Dec‐17 Jan‐18 Feb‐18 Mar‐18 Apr‐18 May‐18 Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18

% Change 3.2% ‐4.2% 4.5% 2.7% ‐1.0% ‐0.3% 0.9% ‐1.2% 4.7% 0.0% ‐4.3% 0.8%

‐8.0%

‐7.0%

‐6.0%

‐5.0%

‐4.0%

‐3.0%

‐2.0%

‐1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

DURABLE GOODS NEW ORDERS 2017‐2018

Seasonally Adjusted,   Month‐To‐Month Percentage Change

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

December 21, 2018.
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Unfilled Orders

Unfilled orders for manufactured durable goods in November, down two consecutive months, decreased

$1.7 billion or 0.1 percent to $1,181.7 billion.  This followed a 0.2 percent October decrease.  

Transportation equipment, also down two consecutive months, drove the decrease, $2.5 billion or 0.3

percent to $812.4 billion.

Inventories

Inventories of manufactured durable goods in November, up twenty‐two of the last twenty‐three months,

increased $1.1 billion or 0.3 percent to $412.8 billion.  This followed a 0.2 percent October increase.  

Primary metals, up twenty‐four of the last twenty‐five months, led the increase, $0.3 billion or 0.9 percent

to $36.1 billion.   

Capital Goods

Nondefense new orders for capital goods in November increased $0.5 billion or 0.7 percent to $75.4

billion.  Shipments increased $1.9 billion or 2.4 percent to $79.6 billion.  Unfilled orders decreased $4.2

billion or 0.6 percent to $710.6 billion.  Inventories increased $0.1 billion or virtually unchanged to $180.5

billion.  Defense new orders for capital goods in November increased $1.8 billion or 15.4 percent to $13.9

billion.  Shipments decreased $0.2 billion or 1.7 percent to $11.9 billion.  Unfilled orders increased $2.0

billion or 1.3 percent to $156.0 billion.  Inventories decreased less than $0.1 billion or virtually unchanged

to $22.8 billion.

Revised October Data

Revised seasonally adjusted October figures for all manufacturing industries were: new orders, $502.7

billion (unchanged); shipments, $508.6 billion (revised from $508.4 billion); unfilled orders, $1,183.4 billion

(revised from $1,183.6 billion) and total inventories, $682.1 billion (revised from $681.7 billion).

Revised and more detailed estimates, plus nondurable goods data, will be published on January 7, 2019, at

10:00 a.m. EST.  The Advance Report on durable goods for December is scheduled for release on January

25, 2019 at 8:30 a.m. EST. View the full schedule in the Economic Briefing Room:

<www.census.gov/economic‐indicators/>.  The full text and tables of this release can be found at

<www.census.gov/m3>.

EXPLANATORY NOTES

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

exclude data for semiconductor manufacturing.  
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“Virtually unchanged” indicates that the change is less than 0.05 percent for a percent increase or

decrease.

Description of the survey  

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

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

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

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

current cost or market value), and inventories by stage of fabrication (materials and supplies, work‐in‐

process, and finished goods).  Data published from the M3 survey are based on a panel of approximately

5,000 reporting units that represent approximately 3,100 companies and provide an indication of month‐

to‐month change for the Manufacturing Sector.  These reporting units may be divisions of diversified large

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

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

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

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

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

approximately 64 percent of the total value of shipments for manufacturing establishments in the 2012

Economic Census, and these companies include almost two‐thirds of the manufacturing companies with

$500 million or more in shipments in the 2012 Economic Census.  The companies for which shipments data

are currently reported in the M3 survey represent approximately 57 percent of the total value of

shipments for manufacturing establishments in the 2012 Economic Census.  Statistics based on the M3

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

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

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

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

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

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

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

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

survey documentation can be found on our web site:  

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

For information on the impact of recent hurricanes on the compilation of this report, please see the

Frequently Asked Questions (FAQs) on our website at:

<https://www.census.gov/manufacturing/m3/hurricanesfaqsm3.pdf>.

RESOURCES

API

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

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

before.

<www.census.gov/developers/>

NEW TIME SERIES

Beginning with the release of June 2018 data on July 26, 2018, historical estimates of the Monthly Advance

Report on Manufacturers’ Shipments, Inventories and Orders are available on a seasonally adjusted basis

as well as a not seasonally adjusted basis at: <https://www.census.gov/econ/currentdata/>.   

FRED Mobile App

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

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

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

Louis, now incorporates the Census Bureau’s 13 economic indicators.
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2019 Release Dates

Survey month Advance Report                      

(8:30 a.m. release time)

Full Report                             

(10:00 a.m. release time)

Nov‐18 Fri 12/21/2018 Mon 1/7/2019

Dec‐18 Fri 1/25/2019 Mon 2/4/2019

Jan‐19 Wed 2/27/2019 Wed 3/6/2019

Feb‐19 Tue 3/26/2019 Wed 4/3/2019

Mar‐19 Thu 4/25/2019 Thu 5/2/2019

Apr‐19 Fri 5/24/2019 Tue 6/4/2019

May‐19 Wed 6/26/2019 Wed 7/3/2019

Jun‐19 Thu 7/25/2019 Fri 8/2/2019

Jul‐19 Mon 8/26/2019 Thu 9/5/2019

Aug‐19 Fri 9/27/2019 Thu 10/3/2019

Sep‐19 Thu 10/24/2019 Mon 11/4/2019

Oct‐19 Wed 11/27/2019 Thu 12/5/2019

Nov‐19 Tue12/24/2019 Not available at this time

Source: <https://www.whitehouse.gov/wp‐content/uploads/2018/09/pfei_schedule_releasedates_2019.pdf>

###
Table 1.  Durable Goods Manufacturers' Shipments and New Orders 1

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly Year to Date

Item           Percent

Nov Oct Sep Oct ‐ Sep ‐ Aug ‐ Nov Oct Nov Change

2018 2 2018 r 2018 Nov 2 Oct r Sep 2018 2 2018 r 2017 2018 2017 2018/2017

DURABLE GOODS

   Total:               

               Shipments................................ 256,690 254,889 255,840 0.7 ‐0.4 0.9 250,781 265,237 235,718 2,763,464 2,577,423 7.2

               New Orders4

.............................. 250,827 248,939 260,178 0.8 ‐4.3 0.0 244,652 255,764 233,321 2,754,624 2,540,268 8.4

         Excluding transportation:

               Shipments................................ 167,228 167,206 166,668 0.0 0.3 ‐0.1 161,454 173,020 154,190 1,820,880 1,698,437 7.2

               New Orders4

.............................. 163,823 164,394 163,741 ‐0.3 0.4 ‐0.5 155,966 168,471 149,205 1,793,735 1,671,870 7.3

         Excluding defense:

               Shipments................................ 242,880 240,839 242,023 0.8 ‐0.5 1.0 236,008 251,420 221,819 2,616,406 2,442,657 7.1

               New Orders4

.............................. 234,582 234,792 238,133 ‐0.1 ‐1.4 ‐1.3 227,203 243,282 220,336 2,590,557 2,409,592 7.5

    Manufacturing with unfilled orders:

               Shipments................................ 178,998 176,933 178,246 1.2 ‐0.7 1.0 174,198 181,112 163,256 1,920,897 1,787,057 7.5

               New Orders.............................. 177,296 175,003 186,721 1.3 ‐6.3 ‐0.3 172,764 176,578 165,340 1,956,678 1,793,669 9.1

    Primary metals:

               Shipments................................ 21,826 21,571 21,750 1.2 ‐0.8 ‐0.1 20,399 22,081 18,109 235,852 204,821 15.2

               New Orders.............................. 21,544 21,321 21,909 1.0 ‐2.7 ‐1.3 20,495 21,931 18,919 238,407 206,257 15.6

    Fabricated metal products:

               Shipments................................ 33,019 33,093 32,913 ‐0.2 0.5 ‐0.2 31,717 35,008 29,983 362,018 331,907 9.1

               New Orders.............................. 33,567 33,391 32,851 0.5 1.6 ‐2.1 31,564 34,461 30,050 368,501 337,739 9.1

    Machinery:

               Shipments................................ 32,820 33,026 32,698 ‐0.6 1.0 ‐0.6 30,765 33,378 29,951 358,213 336,568 6.4

               New Orders.............................. 32,826 33,394 33,339 ‐1.7 0.2 0.2 30,388 33,982 28,483 362,023 342,687 5.6

    Computers and electronic products 4

:

               Shipments................................ 27,701 27,397 27,121 1.1 1.0 0.0 27,990 27,638 26,379 291,971 275,075 6.1

               New Orders.............................. 24,138 24,136 23,449 0.0 2.9 0.6 23,234 23,064 21,856 250,888 233,708 7.4

         Computers and related products:

               Shipments................................ 1,889 1,919 1,892 ‐1.6 1.4 ‐2.4 1,739 1,792 1,665 19,589 21,213 ‐7.7

               New Orders.............................. 1,951 1,948 1,940 0.2 0.4 ‐1.1 1,801 1,821 1,683 19,905 21,476 ‐7.3

         Communications equipment:

               Shipments................................ 3,643 3,604 3,586 1.1 0.5 1.6 3,497 3,304 3,126 37,474 33,593 11.6

               New Orders.............................. 3,823 3,794 3,711 0.8 2.2 2.3 3,612 3,360 3,255 38,806 36,153 7.3

    Electrical equipment, appliances,    

       and components:                   

               Shipments................................ 11,529 11,524 11,595 0.0 ‐0.6 1.1 11,310 12,009 10,666 124,763 117,747 6.0

               New Orders.............................. 11,505 11,582 11,455 ‐0.7 1.1 ‐0.7 11,140 12,075 10,650 125,013 118,068 5.9

    Transportation equipment:    

               Shipments................................ 89,462 87,683 89,172 2.0 ‐1.7 3.0 89,327 92,217 81,528 942,584 878,986 7.2

               New Orders.............................. 87,004 84,545 96,437 2.9 ‐12.3 0.9 88,686 87,293 84,116 960,889 868,398 10.7

         Motor vehicles and parts:

               Shipments................................ 60,549 60,724 60,547 ‐0.3 0.3 1.1 60,154 66,233 55,003 651,657 602,690 8.1

               New Orders.............................. 60,703 60,851 60,578 ‐0.2 0.5 0.8 60,815 65,307 55,411 651,705 603,627 8.0

         Nondefense aircraft and parts:

               Shipments................................ 14,975 12,821 14,794 16.8 ‐13.3 15.8 14,837 11,820 13,338 143,567 140,108 2.5

               New Orders.............................. 10,189 9,545 13,391 6.7 ‐28.7 ‐19.1 10,704 9,006 16,561 143,449 133,317 7.6

         Defense aircraft and parts:

               Shipments................................ 4,532 4,735 4,767 ‐4.3 ‐0.7 1.6 4,783 4,620 4,779 49,093 47,354 3.7

               New Orders.............................. 6,813 5,182 11,584 31.5 ‐55.3 117.1 7,222 4,287 3,739 57,835 45,803 26.3

    All other durable goods:           

               Shipments................................ 40,333 40,595 40,591 ‐0.6 0.0 ‐0.2 39,273 42,906 39,102 448,063 432,319 3.6

               New Orders.............................. 40,243 40,570 40,738 ‐0.8 ‐0.4 ‐0.1 39,145 42,958 39,247 448,903 433,411 3.6

    Capital goods3

:

               Shipments................................ 91,475 89,786 90,992 1.9 ‐1.3 2.2 89,627 89,236 84,253 966,752 900,592 7.3

               New Orders.............................. 89,242 86,885 92,339 2.7 ‐5.9 ‐5.4 87,446 85,271 84,944 978,736 901,874 8.5

           Nondefense capital goods:

               Shipments................................ 79,612 77,714 79,206 2.4 ‐1.9 2.4 76,805 77,355 72,474 841,066 788,334 6.7

               New Orders.............................. 75,364 74,854 78,513 0.7 ‐4.7 ‐3.2 72,784 75,085 74,342 844,577 793,632 6.4

                Excluding aircraft:

                    Shipments........................... 68,958 69,048 68,491 ‐0.1 0.8 ‐0.3 66,302 69,516 63,367 743,033 696,169 6.7

                    New Orders.......................... 69,288 69,691 69,346 ‐0.6 0.5 ‐0.6 65,783 70,150 61,730 749,927 704,369 6.5

           Defense capital goods:

               Shipments................................ 11,863 12,072 11,786 ‐1.7 2.4 1.1 12,822 11,881 11,779 125,686 112,258 12.0

               New Orders.............................. 13,878 12,031 13,826 15.4 ‐13.0 ‐16.2 14,662 10,186 10,602 134,159 108,242 23.9

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

1

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

shipments and new orders include adjusted data for non‐calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading‐day differences, where appropriate,  

as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes.         2 Based on advance sample. Estimates of manufacturers' shipments, inventories, and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response and

nonreporting. Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations, see http://www.census.gov/manufacturing/m3.      3 The Capital Goods Industries include Nondefense : small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry, and other machinery; photographic

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

peripheral equipment; communications equipment; search and navigation equipment; electromedical, measuring, and  control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft;

railroad rolling stock; ships and boats; office and institutional furniture; and medical equipment and supplies. Defense Capital Goods include : small arms and ordnance, communications equipment, aircraft; missiles, space vehicles, and parts, ships and

boats, and search and navigation equipment.    4 Estimates and percent changes of shipments and inventories for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals.  Estimates and percent changes for new orders and unfilled

orders exclude semiconductor industry data.   

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, November Advance Report, December 21, 2018. Information on data sources and methodology can be found on our website at

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.  
Table 2.  Durable Goods Manufacturers' Unfilled Orders and Total Inventories 1

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly Percent

Item           Change

Nov Oct Sep Oct ‐ Sep ‐ Aug ‐ Nov Oct Nov 2018/

2018 2 2018 r 2018 Nov 2 Oct r Sep 2018 2 2018 r 2017 2017

DURABLE GOODS

   Total:                   

               Unfilled Orders 4......................... 1,181,650 1,183,352 1,185,282 ‐0.1 ‐0.2 0.7 1,172,193 1,173,627 1,121,279 4.5

               Total Inventories....................... 412,844 411,790 411,069 0.3 0.2 0.8 413,017 412,322 394,354 4.7

         Excluding transportation:

               Unfilled Orders 4......................... 369,213 368,457 367,249 0.2 0.3 0.3 364,049 364,842 346,884 4.9

               Total Inventories....................... 281,689 280,720 280,512 0.3 0.1 0.7 281,501 280,502 266,969 5.4

         Excluding defense:

               Unfilled Orders 4

........................... 983,255 987,392 989,419 ‐0.4 ‐0.2 0.0 975,003 979,113 942,406 3.5

               Total Inventories....................... 385,720 384,667 384,016 0.3 0.2 0.8 385,967 385,259 367,554 5.0

    Manufacturing with unfilled orders:

               Unfilled Orders......................... 1,181,650 1,183,352 1,185,282 ‐0.1 ‐0.2 0.7 1,172,193 1,173,627 1,121,279 4.5

               Total Inventories....................... 335,772 335,264 334,642 0.2 0.2 0.9 336,092 336,001 321,168 4.6

    Primary metals:

               Unfilled Orders......................... 31,124 31,406 31,656 ‐0.9 ‐0.8 0.5 30,433 30,337 27,311 11.4

               Total Inventories....................... 36,127 35,798 35,536 0.9 0.7 ‐0.4 35,927 35,706 32,990 8.9

    Fabricated metal products:

               Unfilled Orders......................... 85,533 84,985 84,687 0.6 0.4 ‐0.1 83,857 84,010 77,529 8.2

               Total Inventories....................... 54,372 54,259 54,212 0.2 0.1 0.8 53,876 54,005 49,759 8.3

    Machinery:     

               Unfilled Orders......................... 106,079 106,073 105,705 0.0 0.3 0.6 105,147 105,524 102,026 3.1

               Total Inventories....................... 69,708 69,629 69,653 0.1 0.0 0.9 70,457 69,816 67,217 4.8

    Computers and electronic products4

:

               Unfilled Orders......................... 117,282 116,684 115,925 0.5 0.7 0.4 116,008 116,069 111,884 3.7

               Total Inventories....................... 43,252 43,119 43,505 0.3 ‐0.9 1.0 43,484 43,336 42,939 1.3

         Computers and related products:

               Unfilled Orders......................... 2,194 2,132 2,103 2.9 1.4 2.3 2,194 2,132 1,842 19.1

               Total Inventories....................... 3,724 3,658 3,742 1.8 ‐2.2 1.6 3,803 3,675 3,801 0.1

         Communications equipment:

               Unfilled Orders......................... 26,702 26,522 26,332 0.7 0.7 0.5 26,391 26,276 24,960 5.7

               Total Inventories....................... 5,433 5,432 5,378 0.0 1.0 0.6 5,569 5,478 5,424 2.7

    Electrical equipment, appliances,    

        and components:                   

               Unfilled Orders......................... 19,821 19,845 19,787 ‐0.1 0.3 ‐0.7 19,282 19,452 18,969 1.7

               Total Inventories....................... 19,364 19,246 19,158 0.6 0.5 1.5 19,075 19,189 17,614 8.3

    Transportation equipment:    

               Unfilled Orders......................... 812,437 814,895 818,033 ‐0.3 ‐0.4 0.9 808,144 808,785 774,395 4.4

               Total Inventories....................... 131,155 131,070 130,557 0.1 0.4 0.9 131,516 131,820 127,385 3.2

         Motor vehicles and parts:

               Unfilled Orders......................... 27,181 27,027 26,900 0.6 0.5 0.1 26,555 25,894 25,419 4.5

               Total Inventories....................... 36,881 36,592 36,470 0.8 0.3 ‐0.3 36,860 36,931 34,926 5.5

         Nondefense Aircraft and parts:

               Unfilled Orders......................... 595,916 600,702 603,978 ‐0.8 ‐0.5 ‐0.2 592,992 597,125 580,921 2.1

               Total Inventories....................... 66,447 66,743 66,534 ‐0.4 0.3 1.8 66,879 67,074 65,020 2.9

         Defense Aircraft and parts:       

               Unfilled Orders......................... 82,262 79,981 79,534 2.9 0.6 9.4 81,236 78,797 70,245 15.6

               Total Inventories....................... 13,193 13,215 13,144 ‐0.2 0.5 2.1 13,228 13,217 13,102 1.0

    All other durable goods:           

               Unfilled Orders......................... 9,374 9,464 9,489 ‐1.0 ‐0.3 1.6 9,322 9,450 9,165 1.7

               Total Inventories....................... 58,866 58,669 58,448 0.3 0.4 0.5 58,682 58,450 56,450 4.0

    Capital goods3

:

               Unfilled Orders......................... 866,626 868,859 871,760 ‐0.3 ‐0.3 0.2 861,077 863,258 839,996 2.5

               Total Inventories....................... 203,330 203,263 202,860 0.0 0.2 1.2 204,863 203,966 196,625 4.2

           Nondefense capital goods:

               Unfilled Orders......................... 710,594 714,842 717,702 ‐0.6 ‐0.4 ‐0.1 706,323 710,344 695,570 1.5

               Total Inventories....................... 180,547 180,470 180,141 0.0 0.2 1.3 182,189 181,235 174,325 4.5

                Excluding aircraft:               

                    Unfilled Orders.................... 223,582 223,252 222,609 0.1 0.3 0.4 221,384 221,903 215,784 2.6

                    Total Inventories................... 126,051 125,769 125,754 0.2 0.0 1.0 127,310 126,403 121,539 4.7

           Defense capital goods:

               Unfilled Orders......................... 156,032 154,017 154,058 1.3 0.0 1.3 154,754 152,914 144,426 7.2

               Total Inventories....................... 22,783 22,793 22,719 0.0 0.3 0.5 22,674 22,731 22,300 1.7

r  Revised data due to late receipts and concurrent seasonal adjustment.      1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and

new orders include adjusted data for non‐calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading‐day differences, where appropriate, as well as seasonal variation,

based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes.         2 Based on advance sample. Estimates of manufacturers' shipments, inventories, and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors

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

see http://www.census.gov/manufacturing/m3.      3 The Capital Goods Industries include Nondefense : small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry,

and other machinery; photographic equipment; metalworking machinery; turbines and generators; other power transmission equipment; pumps and compressors; material handling equipment; all other machinery;

electronic computers; computer storage devices; other computer peripheral equipment; communications equipment; search and navigation equipment; electromedical, measuring, and  control instruments;

electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and boats; office and institutional furniture; and medical equipment and

supplies. Defense Capital Goods include : small arms and ordnance, communications equipment, aircraft; missiles, space vehicles, and parts, ships and boats, and search and navigation equipment.    4 Estimates and percent changes of shipments and inventories for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals.  Estimates and percent

changes for new orders and unfilled orders exclude semiconductor industry data.   

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, November Advance Report, December 21, 2018. Information on data sources and methodology can be found on our

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