Data Inquiries Media Inquiries

Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Information Office

301-763-4832 301-763-3030

eid.m3.qs@census.gov pio@census.gov

FOR RELEASE AT 10:00 AM EDT, TUESDAY, MAY 2, 2023

MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS 

MARCH 2023 

Release Number: CB 23-60 M3-2 (23)-03 

May 2, 2023 — The U.S. Census Bureau announces the March full report on manufacturers’ shipments, 

inventories and orders:

MANUFACTURED GOODS – NEW ORDERS

MARCH 2023 $539.0 billion +0.9%°

FEBRUARY 2023 

(revised) $534.1 billion -1.1%°

Next release: June 5, 2023

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, May 2, 2023. 

Summary

New orders for manufactured goods in March, up following two consecutive monthly decreases, increased

$4.9 billion or 0.9 percent to $539.0 billion, the U.S. Census Bureau reported today. This followed a 1.1 

percent February decrease. Shipments, down four of the last five months, decreased $0.6 billion or 0.1 

percent to $539.9 billion. This followed a 0.9 percent February decrease. Unfilled orders, up thirty of the 

last thirty-one months, increased $4.2 billion or 0.4 percent to $1,159.7 billion. This followed a 0.1 percent 

February decrease. The unfilled orders-to-shipments ratio was 6.04, down from 6.11 in February. 

Inventories, down three consecutive months, decreased $6.2 billion or 0.8 percent to $799.4 billion. This 

followed a 0.2 percent February decrease. The inventories-to-shipments ratio was 1.48, down from 1.49 in 

February. 

New Orders

New orders for manufactured durable goods in March, up following two consecutive monthly decreases, 

increased $8.5 billion or 3.2 percent to $276.2 billion, unchanged from the previously published increase. 

This followed a 1.2 percent February decrease. Transportation equipment, also up following two 

0.7%

1.8% 1.8%

-1.0%

0.2% 0.3% 0.4%

-1.9%

1.7%

-2.1%

-1.1%

0.9%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23

MANUFACTURERS' NEW ORDERS 2022-2023

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, May 2, 2023.
Data Inquiries Media Inquiries

Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Information Office

301-763-4832 301-763-3030

eid.m3.qs@census.gov pio@census.gov

consecutive monthly decreases, led the increase, $8.1 billion or 9.0 percent to $97.3 billion. New orders 

for manufactured nondurable goods decreased $3.7 billion or 1.4 percent to $262.8 billion. 

Shipments

Shipments of manufactured durable goods in March, up following two consecutive monthly decreases, 

increased $3.0 billion or 1.1 percent to $277.1 billion, unchanged from the previously published increase. 

This followed a 0.8 percent February decrease. Transportation equipment, also up following two 

consecutive monthly decreases, drove the increase, $3.3 billion or 3.7 percent to $93.2 billion. Shipments 

of manufactured nondurable goods, down four of the last five months, decreased $3.7 billion or 1.4

percent to $262.8 billion. This followed a 1.0 percent February decrease. Petroleum and coal products, 

also down four of the last five months, drove the decrease, $3.8 billion or 7.1 percent to $50.2 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in March, up thirty of the last thirty-one months, 

increased $4.2 billion or 0.4 percent to $1,159.7 billion, unchanged from the previously published increase. 

This followed a 0.1 percent February decrease. Transportation equipment, up twenty-two of the last 

twenty-three months, led the increase, $4.0 billion or 0.6 percent to $687.8 billion.

Inventories

Inventories of manufactured durable goods in March, down two of the last three months, decreased $4.2 

billion or 0.9 percent to $488.8 billion, unchanged from the previously published decrease. This followed a 

0.1 percent February increase. Transportation equipment, also down two of the last three months, drove

the decrease, $4.3 billion or 2.7 percent to $154.2 billion. Inventories of manufactured nondurable goods,

down eight of the last nine months, decreased $2.0 billion or 0.6 percent to $310.5 billion. This followed a

0.6 percent February decrease. Petroleum and coal products, down four of the last five months, drove the

decrease, $2.4 billion or 4.8 percent to $46.6 billion. By stage of fabrication, March materials and supplies

increased 0.2 percent in durable goods and decreased 1.1 percent in nondurable goods. Work in process

decreased 2.4 percent in durable goods and 1.1 percent in nondurable goods. Finished goods decreased 

0.2 percent in both durable and nondurable goods. 

The Advance Report on durable goods for April is scheduled for release on May 26, 2023, at 8:30 a.m. EDT 

and the Full Report on June 5, 2023, at 10:00 a.m. EDT. View the full schedule in the Economic Briefing

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

<www.census.gov/m3>.
Data Inquiries Media Inquiries

Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Information Office

301-763-4832 301-763-3030

eid.m3.qs@census.gov pio@census.gov

EXPLANATORY NOTES

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

exclude data for semiconductor manufacturing. 

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

decrease. 

Description of the survey 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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. 
Data Inquiries Media Inquiries

Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Information Office

301-763-4832 301-763-3030

eid.m3.qs@census.gov pio@census.gov

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>.

Benchmark notice

Revised historical data from the Manufacturers’ Shipments, Inventories, and Orders (M3) Survey will be

issued on May 12, 2023. These revisions result from

• Benchmarking the M3 shipments and inventories data to the 2021 and 2020 Annual Survey of 

Manufactures (ASM) data; 

• Incorporating the unfilled orders to shipments ratios obtained for 2021, 2020, and 2019 from the 

Manufacturers’ Unfilled Orders (M3UFO) Survey;

• Adjusting the new orders data to be consistent with the benchmarked shipments and unfilled 

orders data;

• Correcting monthly data for late receipts, reclassifications of reported data, and revisions to 

previously reported data;

• Updating the seasonally adjusted data based on the results of benchmarking and the recent annual 

review of the seasonal adjustment models. 

These revisions will span the seasonally adjusted data for January 2012 through March 2023 and the data 

not seasonally adjusted for January 2017 through March 2023. An updated Press Release will contain

revised monthly tables for January 2023 through March 2023.

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/>. 
Data Inquiries Media Inquiries

Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Information Office

301-763-4832 301-763-3030

eid.m3.qs@census.gov pio@census.gov

FRED Mobile App

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

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

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

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

###
Table 1. Value of Manufacturers' Shipments for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly

Industry % Change

Mar. Feb. Jan. Feb. - Jan. - Dec. - Mar. Feb. Jan. Mar. 2023/

2023p 2023r 2023 Mar. Feb. Jan. 2023p 2023r 2023 2022 2023p 2022 2022

 All manufacturing industries.................. 539,889 540,525 545,595 -0.1 -0.9 0.3 576,782 500,053 503,450 568,556 1,580,285 1,524,078 3.7

 Excluding transportation................... 446,642 450,569 454,098 -0.9 -0.8 0.9 469,031 415,338 423,301 474,458 1,307,670 1,283,072 1.9

 Excluding defense.............................. 523,210 523,678 528,496 -0.1 -0.9 0.3 558,148 483,836 489,189 550,999 1,531,173 1,478,074 3.6

 With unfilled orders............................ 191,900 188,996 189,905 1.5 -0.5 -0.5 211,330 176,351 171,430 198,734 559,111 529,299 5.6

 Durable goods industries......................... 277,097 274,082 276,335 1.1 -0.8 -0.4 304,608 255,364 249,134 288,250 809,106 763,717 5.9

 Wood products....................................... 12,710 12,679 12,725 0.2 -0.4 0.0 13,043 11,561 10,962 13,379 35,566 36,337 -2.1

 Nonmetallic mineral products.................... 12,579 12,753 12,873 -1.4 -0.9 2.4 12,731 11,008 11,262 12,517 35,001 33,842 3.4

 Primary metals....................................... 20,235 20,190 20,200 0.2 0.0 1.3 22,082 19,421 19,801 22,413 61,304 61,307 0.0

 Iron and steel mills............................ 12,042 11,885 11,732 1.3 1.3 -0.7 13,053 11,312 11,575 12,482 35,940 34,915 2.9

 Aluminum and nonferrous metals.......... 6,573 6,671 6,851 -1.5 -2.6 3.3 7,237 6,564 6,714 8,317 20,515 22,121 -7.3

 Ferrous metal foundries....................... 1,620 1,634 1,617 -0.9 1.1 8.0 1,792 1,545 1,512 1,614 4,849 4,271 13.5

 Fabricated metal products....................... 36,476 36,378 36,281 0.3 0.3 -0.3 38,506 34,122 34,041 38,644 106,669 106,211 0.4

 Machinery............................................. 37,947 38,303 38,516 -0.9 -0.6 0.7 42,375 36,191 34,640 41,472 113,206 108,639 4.2

 Farm machinery................................. 1,864 1,898 1,962 -1.8 -3.3 -7.8 2,210 1,987 1,771 3,122 5,968 8,247 -27.6

 Construction machinery..................... 4,096 3,988 4,115 2.7 -3.1 3.1 4,624 3,852 3,710 3,774 12,186 9,738 25.1

 Mining, oil field, and 

 gas field machinery.......................... 1,625 1,860 1,604 -12.6 16.0 1.1 1,745 1,749 1,494 1,551 4,988 4,087 22.0

 Industrial machinery.......................... 6,016 6,210 6,244 -3.1 -0.5 6.9 6,836 5,413 5,428 7,110 17,677 17,966 -1.6

 Photographic equipment...................... 526 517 525 1.7 -1.5 -3.0 618 466 443 624 1,527 1,534 -0.5

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............ 4,753 4,797 4,892 -0.9 -1.9 1.0 5,220 4,113 3,979 4,952 13,312 12,480 6.7

 Metalworking machinery..................... 2,557 2,667 2,623 -4.1 1.7 -1.2 2,786 2,490 2,382 2,858 7,658 7,664 -0.1

 Turbines, generators, and other

 power transmission equipment....... 3,718 3,527 3,444 5.4 2.4 -2.2 3,822 3,551 3,282 3,301 10,655 9,634 10.6

 Material handling equipment............... 3,604 3,587 3,659 0.5 -2.0 1.1 4,162 3,496 3,449 3,986 11,107 10,330 7.5

 Computers and electronic products2.......... 29,371 29,467 29,571 -0.3 -0.4 0.1 31,082 26,463 26,822 30,200 84,367 81,044 4.1

 Computers........................................ 776 798 807 -2.8 -1.1 8.5 745 623 684 680 2,052 1,893 8.4

 Computer storage devices..................... 686 658 666 4.3 -1.2 4.4 878 497 589 774 1,964 1,771 10.9

 Other peripheral equipment................ 933 879 916 6.1 -4.0 2.9 1,015 683 858 574 2,556 1,349 89.5

 Nondefense communications

 equipment.................................... 2,909 2,961 2,928 -1.8 1.1 -0.7 3,405 2,416 2,304 3,496 8,125 8,431 -3.6

 Defense communications equipment.... 218 220 218 -0.9 0.9 0.9 225 217 182 217 624 593 5.2

 Audio and video equipment.................... 331 329 376 0.6 -12.5 8.4 293 292 362 383 947 1,150 -17.7

 Electronic components......................... 4,636 4,731 4,645 -2.0 1.9 1.2 4,976 4,374 4,253 4,893 13,603 13,006 4.6

 Nondefense search and navigation

 equipment...................................... 1,631 1,661 1,673 -1.8 -0.7 -0.2 1,871 1,568 1,473 1,878 4,912 4,848 1.3

 Defense search and navigation

 equipment..................................... 3,266 3,277 3,285 -0.3 -0.2 -1.3 3,496 3,127 2,740 3,441 9,363 9,248 1.2

 Electromedical, measuring,

 and control instruments................. 8,779 8,693 8,668 1.0 0.3 -1.1 9,707 7,740 7,483 9,437 24,930 24,424 2.1

 Electrical equipment, appliances, 

 and components................................... 14,216 14,072 14,217 1.0 -1.0 3.5 15,588 12,884 12,464 14,453 40,936 37,340 9.6

 Electric lighting equipment..................... 1,100 1,087 1,078 1.2 0.8 0.8 1,160 989 981 1,077 3,130 2,937 6.6

 Household appliances........................ 2,667 2,681 2,742 -0.5 -2.2 1.9 2,959 2,356 2,235 3,003 7,550 7,391 2.2

 Electrical equipment............................ 4,247 4,179 4,313 1.6 -3.1 6.6 4,870 3,875 3,746 4,208 12,491 10,629 17.5

 Batteries........................................... 1,326 1,269 1,211 4.5 4.8 5.6 1,414 1,142 1,074 1,061 3,630 2,660 36.5

 Transportation equipment........................ 93,247 89,956 91,497 3.7 -1.7 -2.4 107,751 84,715 80,149 94,098 272,615 241,006 13.1

 Automobiles..................................... 8,012 8,054 7,720 -0.5 4.3 2.3 10,064 7,607 6,494 9,293 24,165 21,505 12.4

 Light trucks and utility vehicles.............. 23,376 23,011 24,052 1.6 -4.3 -2.3 27,245 21,630 21,064 24,999 69,939 61,906 13.0

 Heavy duty trucks ............................. 2,600 2,723 2,821 -4.5 -3.5 0.1 2,982 2,621 2,631 2,554 8,234 6,572 25.3

 Motor vehicle bodies, parts, 

 and trailers.................................... 27,470 27,490 27,519 -0.1 -0.1 0.7 30,664 27,292 26,142 29,027 84,098 78,777 6.8

 Nondefense aircraft and parts................ 15,537 12,204 12,586 27.3 -3.0 -13.6 18,679 9,663 9,834 11,416 38,176 28,003 36.3

 Defense aircraft and parts.................. 5,448 5,492 5,758 -0.8 -4.6 1.1 6,110 5,058 4,727 6,039 15,895 15,288 4.0

 Ships and boats................................. 3,792 3,791 3,774 0.0 0.5 2.2 4,183 3,861 3,153 3,820 11,197 10,183 10.0

 Furniture and related products.................. 6,211 6,233 6,324 -0.4 -1.4 0.6 6,346 5,958 5,836 6,248 18,140 17,638 2.8

 Miscellaneous durable goods................. 14,105 14,051 14,131 0.4 -0.6 -0.9 15,104 13,041 13,157 14,826 41,302 40,353 2.4

 Nondurable goods industries..................... 262,792 266,443 269,260 -1.4 -1.0 1.1 272,174 244,689 254,316 280,306 771,179 760,361 1.4

 Food products....................................... 76,601 76,719 76,376 -0.2 0.4 0.5 77,935 73,575 73,607 77,079 225,117 219,797 2.4

 Grain and oilseed milling....................... 9,370 9,414 9,411 -0.5 0.0 0.7 9,560 9,053 9,290 9,376 27,903 26,239 6.3

 Dairy products.................................. 11,911 11,938 12,006 -0.2 -0.6 0.0 12,053 11,123 11,757 11,828 34,933 33,827 3.3

 Meat, poultry, and seafood products... 22,354 22,335 22,404 0.1 -0.3 -0.5 22,699 21,379 21,086 23,365 65,164 66,089 -1.4

 Beverage and tobacco products................ 17,705 17,152 17,182 3.2 -0.2 -1.1 17,587 16,003 16,144 15,530 49,734 43,187 15.2

 Beverages......................................... 10,503 10,596 10,512 -0.9 0.8 1.9 10,385 9,447 9,474 9,643 29,306 27,156 7.9

 Tobacco............................................ 7,202 6,556 6,670 9.9 -1.7 -5.5 7,202 6,556 6,670 5,887 20,428 16,031 27.4

 Textile mills........................................... 2,157 2,191 2,224 -1.6 -1.5 -0.2 2,251 2,137 2,046 2,425 6,434 6,826 -5.7

 Textile products................................... 1,925 1,951 1,952 -1.3 -0.1 -0.2 1,987 1,909 1,769 2,061 5,665 5,786 -2.1

 Apparel................................................ 745 762 779 -2.2 -2.2 -1.8 707 714 741 713 2,162 2,068 4.5

 Leather and allied products...................... 476 483 508 -1.4 -4.9 0.8 483 450 464 442 1,397 1,157 20.7

 Paper products...................................... 16,594 16,587 16,571 0.0 0.1 1.2 17,306 15,620 16,298 17,097 49,224 48,302 1.9

 Pulp, paper, and paperboard mills....... 6,182 6,206 6,227 -0.4 -0.3 2.9 6,354 5,777 6,219 6,090 18,350 17,409 5.4

 Paperboard containers........................ 6,012 5,993 5,945 0.3 0.8 0.6 6,361 5,591 5,856 6,418 17,808 17,874 -0.4

 Printing................................................. 6,961 7,025 7,040 -0.9 -0.2 0.3 7,183 6,434 6,691 6,988 20,308 19,160 6.0

 Petroleum and coal products.................. 50,205 54,033 57,424 -7.1 -5.9 2.7 50,447 44,861 51,752 62,631 147,060 155,479 -5.4

 Petroleum refineries.......................... 44,852 48,654 52,048 -7.8 -6.5 3.0 45,453 40,565 47,388 57,938 133,406 142,934 -6.7

 Chemical products..................................... 67,546 67,519 67,032 0.0 0.7 1.4 73,048 62,679 63,859 71,568 199,586 193,843 3.0

 Pesticides, fertilizers, and other

 agricultural chemicals....................... 3,282 3,231 3,220 1.6 0.3 -0.1 4,348 3,318 3,053 4,266 10,719 10,686 0.3

 Pharmaceuticals and medicines............. 23,456 23,514 23,258 -0.2 1.1 0.2 24,495 21,260 22,168 22,199 67,923 60,534 12.2

 Paints, coatings, and adhesives.......... 3,723 3,817 3,784 -2.5 0.9 -0.9 4,108 3,451 3,386 4,227 10,945 10,953 -0.1

 Plastics and rubber products.................. 21,877 22,021 22,172 -0.7 -0.7 0.0 23,240 20,307 20,945 23,772 64,492 64,756 -0.4

Year to date

p

 Preliminary 

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

1

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

data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the 

model parameters. Estimates are not adjusted for price changes. 

2

 Estimates and percent changes of shipments for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the 

survey panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 2. Value of Manufacturers' New Orders for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted 

Monthly Percent Change Monthly

Industry % Change

Mar. Feb. Jan. Feb. - Jan. - Dec. - Mar. Feb. Jan. Mar. 2023/

2023p 2023r 2023 Mar. Feb. Jan. 2023p 2023r 2023 2022 2023p 2022 2022

All manufacturing industries2........................ 539,009 534,148 540,321 0.9 -1.1 -2.1 582,027 497,367 504,364 574,394 1,583,758 1,547,046 2.4

 Excluding transportation2...................... 441,759 444,967 448,214 -0.7 -0.7 0.8 467,753 413,122 421,930 474,315 1,302,805 1,284,392 1.4

 Excluding defense2

.............................. 522,023 517,053 522,070 1.0 -1.0 -2.3 559,807 481,410 489,668 554,520 1,530,885 1,501,109 2.0

 With unfilled orders2............................. 196,146 187,798 189,939 4.4 -1.1 -6.8 220,960 178,514 178,160 208,916 577,634 566,361 2.0

 Durable goods industries2......................... 276,217 267,705 271,061 3.2 -1.2 -5.0 309,853 252,678 250,048 294,088 812,579 786,685 3.3

 Primary metals........................................ 20,158 20,115 20,140 0.2 -0.1 1.0 22,187 20,039 20,258 22,667 62,484 63,189 -1.1

 Iron and steel mills.............................. 11,981 11,873 11,670 0.9 1.7 -1.6 13,180 11,721 11,737 12,774 36,638 35,976 1.8

 Aluminum and nonferrous metals.......... 6,574 6,613 6,904 -0.6 -4.2 4.6 7,251 6,720 7,001 8,180 20,972 22,616 -7.3

 Ferrous metal foundries....................... 1,603 1,629 1,566 -1.6 4.0 5.8 1,756 1,598 1,520 1,713 4,874 4,597 6.0

 Fabricated metal products........................ 36,263 36,215 35,936 0.1 0.8 -0.6 40,016 34,764 34,815 40,571 109,595 110,550 -0.9

 Machinery............................................. 37,941 38,038 38,481 -0.3 -1.2 0.8 42,087 36,960 37,155 41,594 116,202 113,820 2.1

 Construction machinery........................ 4,073 3,686 3,801 10.5 -3.0 -0.1 4,552 3,733 3,979 3,886 12,264 10,790 13.7

 Mining, oil field, and

 gas field machinery.......................... 1,564 1,889 1,618 -17.2 16.7 1.6 1,684 1,778 1,508 1,447 4,970 3,918 26.9

 Industrial machinery............................ 5,885 6,191 6,483 -4.9 -4.5 8.8 6,666 5,336 6,385 7,226 18,387 18,931 -2.9

 Photographic equipment....................... 589 593 532 -0.7 11.5 -1.7 643 635 459 552 1,737 1,500 15.8

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 5,080 4,809 5,004 5.6 -3.9 0.7 5,726 4,213 4,463 4,910 14,402 13,347 7.9

 Metalworking machinery....................... 2,552 2,635 2,610 -3.1 1.0 2.6 2,592 2,749 2,487 2,823 7,828 7,880 -0.7

 Turbines, generators, and other 

 power transmission equipment........... 3,631 3,565 3,281 1.9 8.7 -7.4 3,735 3,589 3,119 3,261 10,443 9,700 7.7

 Material handling equipment.................. 3,621 3,622 3,760 0.0 -3.7 2.7 4,048 3,588 3,677 4,119 11,313 11,124 1.7

 Computers and electronic products2........... 24,738 24,237 24,187 2.1 0.2 0.2 28,231 21,463 20,955 27,266 70,649 68,887 2.6

 Computers........................................ 791 792 827 -0.1 -4.2 11.8 760 617 704 682 2,081 1,879 10.8

 Nondefense communications

 equipment...................................... 2,834 2,833 2,925 0.0 -3.1 -2.9 3,408 2,405 2,269 3,775 8,082 8,896 -9.2

 Defense communications equipment....... 209 215 212 -2.8 1.4 6.5 215 217 185 217 617 587 5.1

 Electronic components......................... 4,562 4,613 4,468 -1.1 3.2 -0.4 4,780 4,247 4,239 4,925 13,266 13,436 -1.3

 Nondefense search and navigation

 equipment...................................... 1,807 1,795 1,731 0.7 3.7 -7.2 2,093 1,639 1,606 2,027 5,338 5,405 -1.2

 Defense search and navigation

 equipment...................................... 3,743 3,337 3,268 12.2 2.1 6.3 4,689 3,034 2,475 4,065 10,198 9,166 11.3

 Electromedical, measuring,

 and control instruments..................... 8,762 8,705 8,717 0.7 -0.1 -1.0 10,014 7,755 7,590 9,761 25,359 25,011 1.4

 Electrical equipment, appliances, 

 and components................................... 14,327 14,220 14,179 0.8 0.3 1.9 15,749 13,420 13,040 14,838 42,209 38,953 8.4

 Electric lighting equipment..................... 1,134 1,103 1,057 2.8 4.4 -6.4 1,218 1,017 964 1,116 3,199 3,006 6.4

 Household appliances.......................... 2,763 2,891 2,840 -4.4 1.8 2.6 3,144 2,332 2,270 3,010 7,746 7,207 7.5

 Electrical equipment............................ 4,148 4,107 4,264 1.0 -3.7 7.1 4,745 4,089 4,190 4,366 13,024 11,936 9.1

 Transportation equipment........................ 97,250 89,181 92,107 9.0 -3.2 -14.0 114,274 84,245 82,434 100,079 280,953 262,654 7.0

 Motor vehicle bodies, parts, 

 and trailers..................................... 27,519 27,674 27,573 -0.6 0.4 1.5 30,603 28,170 26,490 29,243 85,263 80,198 6.3

 Nondefense aircraft and parts................ 19,666 11,027 12,037 78.3 -8.4 -56.3 22,980 8,500 11,162 15,367 42,642 47,888 -11.0

 Defense aircraft and parts.................... 6,107 5,574 6,048 9.6 -7.8 2.6 7,440 4,567 5,543 5,923 17,550 13,860 26.6

 Ships and boats.................................. 2,799 3,336 4,047 -16.1 -17.6 -4.8 4,371 4,509 3,955 4,907 12,835 11,517 11.4

 Furniture and related products................... 6,168 6,248 6,349 -1.3 -1.6 0.6 6,453 6,209 6,057 6,349 18,719 17,950 4.3

 Nondurable goods industries..................... 262,792 266,443 269,260 -1.4 -1.0 1.1 272,174 244,689 254,316 280,306 771,179 760,361 1.4

Year to date

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

1

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

adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual 

review of the model parameters. Estimates are not adjusted for price changes. 

2

 Data on new orders are not available for the semiconductor industry. Estimates and percent changes for new orders exclude semiconductor industry data. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. 

Since the survey panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 3. Value of Manufacturers' Unfilled Orders for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly % Change

Industry March

Mar. Feb. Jan. Feb. - Jan. - Dec. - Mar. Feb. Jan. Mar. 2023/

2023p 2023r 2023 Mar. Feb. Jan. 2023p 2023r 2023 2022 2022

All manufacturing industries2...................... 1,159,722 1,155,476 1,156,674 0.4 -0.1 0.0 1,171,558 1,161,928 1,159,765 1,111,663 5.4

 Excluding transportation2...................... 471,966 471,723 472,146 0.1 -0.1 -0.1 475,934 472,827 470,194 471,786 0.9

 Excluding defense2............................. 942,030 938,091 939,537 0.4 -0.2 -0.1 950,227 944,183 941,760 899,942 5.6

 Durable goods industries2

........................ 1,159,722 1,155,476 1,156,674 0.4 -0.1 0.0 1,171,558 1,161,928 1,159,765 1,111,663 5.4

 Primary metals........................................ 30,344 30,421 30,496 -0.3 -0.2 -0.2 31,240 31,135 30,517 32,127 -2.8

 Iron and steel mills............................... 16,068 16,129 16,141 -0.4 -0.1 -0.4 16,498 16,371 15,962 16,727 -1.4

 Aluminum and nonferrous metals............. 10,147 10,146 10,204 0.0 -0.6 0.5 10,535 10,521 10,365 11,310 -6.9

 Ferrous metal foundries........................ 4,129 4,146 4,151 -0.4 -0.1 -1.2 4,207 4,243 4,190 4,090 2.9

 Fabricated metal products......................... 116,519 116,732 116,895 -0.2 -0.1 -0.3 117,036 115,526 114,884 118,309 -1.1

 Machinery.............................................. 132,985 132,991 133,256 0.0 -0.2 0.0 134,006 134,294 133,525 130,103 3.0

 Construction machinery......................... 9,020 9,043 9,345 -0.3 -3.2 -3.3 9,526 9,598 9,717 10,317 -7.7

 Mining, oil field, and

 gas field machinery.......................... 5,166 5,227 5,198 -1.2 0.6 0.3 5,166 5,227 5,198 4,898 5.5

 Industrial machinery............................. 13,083 13,214 13,233 -1.0 -0.1 1.8 13,123 13,293 13,370 11,882 10.4

 Photographic equipment........................ 3,301 3,238 3,162 1.9 2.4 0.2 3,322 3,297 3,128 3,119 6.5

 Ventilation, heating, air-conditioning,

 and refrigeration equipment................ 12,902 12,575 12,563 2.6 0.1 0.9 13,074 12,568 12,468 10,144 28.9

 Metalworking machinery........................ 8,213 8,218 8,250 -0.1 -0.4 -0.2 8,198 8,392 8,133 8,610 -4.8

 Turbines, generators, and other 

 power transmission equipment............ 33,047 33,134 33,096 -0.3 0.1 -0.5 33,047 33,134 33,096 33,485 -1.3

 Material handling equipment................... 17,602 17,585 17,550 0.1 0.2 0.6 17,751 17,865 17,773 16,604 6.9

 Computers and electronic products2

............. 140,433 139,940 139,991 0.4 0.0 -0.1 141,581 140,047 140,198 140,939 0.5

 Computers......................................... 1,206 1,191 1,197 1.3 -0.5 1.7 1,206 1,191 1,197 1,205 0.1

 Nondefense communications

 equipment...................................... 20,449 20,524 20,652 -0.4 -0.6 0.0 20,750 20,747 20,758 21,467 -3.3

 Defense communications equipment........ 270 279 284 -3.2 -1.8 -2.1 287 297 297 334 -14.1

 Electronic components.......................... 15,373 15,447 15,565 -0.5 -0.8 -1.1 15,463 15,659 15,786 16,202 -4.6

 Nondefense search and navigation

 equipment....................................... 32,951 32,775 32,641 0.5 0.4 0.2 32,927 32,705 32,634 31,648 4.0

 Defense search and navigation

 equipment....................................... 38,727 38,250 38,190 1.2 0.2 0.0 39,176 37,983 38,076 38,876 0.8

 Electromedical, measuring,

 and control instruments...................... 31,457 31,474 31,462 -0.1 0.0 0.2 31,772 31,465 31,450 31,207 1.8

 Electrical equipment, appliances, 

 and components.................................... 40,590 40,479 40,331 0.3 0.4 -0.1 40,933 40,772 40,236 38,414 6.6

 Electric lighting equipment..................... 2,492 2,458 2,442 1.4 0.7 -0.9 2,528 2,470 2,442 2,222 13.8

 Household appliances........................... 5,529 5,433 5,223 1.8 4.0 1.9 5,506 5,321 5,345 5,223 5.4

 Electrical equipment............................. 16,352 16,451 16,523 -0.6 -0.4 -0.3 16,581 16,706 16,492 15,520 6.8

 Transportation equipment......................... 687,756 683,753 684,528 0.6 -0.1 0.1 695,624 689,101 689,571 639,877 8.7

 Motor vehicle bodies, parts, 

 and trailers...................................... 27,886 27,837 27,653 0.2 0.7 0.2 28,906 28,967 28,089 29,168 -0.9

 Nondefense aircraft and parts................ 468,433 464,304 465,481 0.9 -0.3 -0.1 472,159 467,858 469,021 425,218 11.0

 Defense aircraft and parts..................... 60,873 60,214 60,132 1.1 0.1 0.5 61,956 60,626 61,117 57,130 8.4

 Ships and boats.................................. 50,583 51,576 52,031 -1.9 -0.9 0.5 52,654 52,466 51,818 50,941 3.4

 Furniture and related products................... 9,789 9,832 9,817 -0.4 0.2 0.3 9,832 9,725 9,474 10,516 -6.5

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

1

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

include adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of 

the latest annual review of the model parameters. Estimates are not adjusted for price changes. 

2

 Data on unfilled orders are not available for the semiconductor industry. Estimates and percent changes for unfilled orders exclude semiconductor industry data. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and 

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

<http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.
Table 4. Value of Manufacturers' Inventories for Industry Groups1

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly % Change

Industry March

Mar. Feb. Jan. Feb. - Jan. - Dec. - Mar. Feb. Jan. Mar. 2023/

2023p 2023r 2023 Mar. Feb. Jan. 2023p 2023r 2023 2022 2022

 All manufacturing industries...................... 799,379 805,607 807,050 -0.8 -0.2 -0.1 800,215 808,093 803,969 784,560 2.0

 Excluding transportation........................ 645,145 647,113 648,826 -0.3 -0.3 -0.1 646,787 649,297 646,728 629,366 2.8

 Excluding defense............................. 772,124 778,393 779,798 -0.8 -0.2 -0.1 772,982 781,008 776,941 758,572 1.9

 With unfilled orders............................. 391,655 395,668 395,580 -1.0 0.0 -0.2 391,631 396,237 393,841 382,060 2.5

 Durable goods industries........................ 488,845 493,080 492,777 -0.9 0.1 -0.2 488,755 495,244 491,100 476,565 2.6

 Wood products........................................ 14,250 14,321 14,397 -0.5 -0.5 -0.9 14,616 14,784 14,699 14,927 -2.1

 Nonmetallic mineral products..................... 16,679 16,701 16,683 -0.1 0.1 0.3 16,934 16,967 16,710 15,648 8.2

 Primary metals......................................... 38,206 38,380 38,381 -0.5 0.0 -0.2 38,157 38,589 38,556 38,430 -0.7

 Iron and steel mills............................... 22,466 22,491 22,505 -0.1 -0.1 0.4 22,323 22,588 22,774 22,681 -1.6

 Aluminum and nonferrous metals............ 12,934 13,090 13,057 -1.2 0.3 -1.5 12,968 13,120 12,951 13,060 -0.7

 Ferrous metal foundries........................ 2,806 2,799 2,819 0.3 -0.7 0.9 2,866 2,881 2,831 2,689 6.6

 Fabricated metal products......................... 62,198 62,128 62,253 0.1 -0.2 -0.2 62,416 62,261 62,198 61,631 1.3

 Machinery.............................................. 89,120 88,908 88,663 0.2 0.3 0.3 90,018 89,487 87,677 81,484 10.5

 Farm machinery.................................. 5,702 5,711 5,705 -0.2 0.1 0.3 5,893 6,020 5,815 5,761 2.3

 Construction machinery......................... 7,893 7,938 7,949 -0.6 -0.1 1.7 8,122 8,032 7,883 7,044 15.3

 Mining, oil field, 

 and gas field machinery.................... 6,808 6,807 6,755 0.0 0.8 2.9 6,725 6,917 6,698 5,872 14.5

 Industrial machinery............................. 11,421 11,428 11,453 -0.1 -0.2 -2.0 11,747 11,322 10,851 10,615 10.7

 Photographic equipment....................... 1,445 1,421 1,415 1.7 0.4 0.2 1,405 1,448 1,425 1,333 5.4

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 8,477 8,446 8,427 0.4 0.2 -0.8 8,935 8,746 8,434 7,376 21.1

 Metalworking machinery........................ 7,003 6,951 6,972 0.7 -0.3 1.3 6,933 6,858 6,842 6,414 8.1

 Turbines, generators, and other

 power transmission equipment............ 11,177 11,139 11,096 0.3 0.4 1.4 11,219 11,161 10,969 10,054 11.6

 Material handling equipment.................. 7,484 7,459 7,377 0.3 1.1 0.9 7,423 7,372 7,264 6,536 13.6

 Computers and electronic products2

............ 52,850 52,926 53,069 -0.1 -0.3 -0.3 52,109 52,972 52,940 50,844 2.5

 Computers......................................... 1,999 1,966 2,057 1.7 -4.4 -2.8 1,903 1,874 1,951 1,991 -4.4

 Computer storage devices.................... 799 794 772 0.6 2.8 -1.9 738 795 747 819 -9.9

 Other peripheral equipment................... 961 963 925 -0.2 4.1 -1.8 932 1,000 917 818 13.9

 Nondefense communications

 equipment...................................... 4,792 4,798 4,862 -0.1 -1.3 -1.0 4,684 4,792 4,764 4,582 2.2

 Defense communications equipment........ 664 667 661 -0.4 0.9 0.3 664 667 661 658 0.9

 Audio and video equipment.................... 1,128 1,126 1,083 0.2 4.0 1.8 1,139 1,108 1,049 1,052 8.3

 Electronic components.......................... 9,523 9,709 9,876 -1.9 -1.7 -1.8 9,536 9,851 10,124 10,044 -5.1

 Nondefense search and navigation

 equipment...................................... 3,528 3,539 3,519 -0.3 0.6 -0.5 3,479 3,522 3,517 3,236 7.5

 Defense search and navigation

 equipment....................................... 2,824 2,821 2,836 0.1 -0.5 -0.1 2,827 2,850 2,836 2,842 -0.5

 Electromedical, measuring 

 and control instruments...................... 18,441 18,378 18,321 0.3 0.3 0.4 18,275 18,236 18,076 17,289 5.7

 Electrical equipment, appliances, 

 and components.................................... 23,937 23,852 23,745 0.4 0.5 -0.7 24,120 24,162 23,802 22,415 7.6

 Electric lighting equipment..................... 2,108 2,115 2,120 -0.3 -0.2 -0.2 2,080 2,140 2,158 2,032 2.4

 Household appliances........................... 3,207 3,197 3,140 0.3 1.8 -4.8 3,241 3,233 3,077 3,165 2.4

 Electrical equipment............................. 8,367 8,332 8,318 0.4 0.2 -0.3 8,371 8,503 8,444 7,408 13.0

 Batteries............................................ 1,616 1,604 1,620 0.7 -1.0 -1.0 1,721 1,549 1,515 1,712 0.5

 Transportation equipment......................... 154,234 158,494 158,224 -2.7 0.2 -0.3 153,428 158,796 157,241 155,194 -1.1

 Automobiles....................................... 6,425 6,512 6,494 -1.3 0.3 -0.3 6,198 6,551 6,470 6,320 -1.9

 Light trucks and utility vehicles.............. 9,516 9,653 9,624 -1.4 0.3 0.4 9,301 10,056 9,364 9,392 -1.0

 Heavy duty trucks ............................... 2,906 2,848 2,817 2.0 1.1 -0.1 2,914 2,932 2,803 2,826 3.1

 Motor vehicle bodies, parts, 

 and trailers...................................... 32,569 32,796 32,907 -0.7 -0.3 0.5 32,727 32,942 33,084 32,137 1.8

 Nondefense aircraft and parts................ 71,772 75,842 75,559 -5.4 0.4 -1.2 71,303 75,629 74,965 75,570 -5.6

 Defense aircraft and parts..................... 13,022 12,890 12,943 1.0 -0.4 1.2 12,966 12,908 12,910 12,681 2.2

 Ships and boats.................................. 4,499 4,653 4,679 -3.3 -0.6 -1.8 4,526 4,489 4,504 4,308 5.1

 Furniture and related products.................... 9,958 9,930 9,974 0.3 -0.4 -1.0 9,801 9,912 10,042 9,537 2.8

 Miscellaneous durable goods..................... 27,413 27,440 27,388 -0.1 0.2 0.1 27,156 27,314 27,235 26,455 2.6

 Nondurable goods industries...................... 310,534 312,527 314,273 -0.6 -0.6 0.0 311,460 312,849 312,869 307,995 1.1

 Food products........................................ 64,693 64,649 64,696 0.1 -0.1 0.3 64,152 65,051 64,980 61,649 4.1

 Grain and oilseed milling........................ 7,869 7,906 7,862 -0.5 0.6 0.4 8,022 8,242 8,065 7,823 2.5

 Dairy products.................................... 9,776 9,702 9,701 0.8 0.0 0.3 9,882 9,677 9,543 9,138 8.1

 Meat, poultry, and seafood products....... 10,829 10,872 10,951 -0.4 -0.7 -0.1 10,838 10,978 10,800 10,636 1.9

 Beverage and tobacco products................ 28,827 28,591 28,486 0.8 0.4 0.4 28,886 28,898 28,832 28,034 3.0

 Beverages......................................... 25,262 25,020 24,939 1.0 0.3 0.6 25,225 25,143 25,102 24,257 4.0

 Tobacco............................................ 3,565 3,571 3,547 -0.2 0.7 -0.9 3,661 3,755 3,730 3,777 -3.1

 Textile mills............................................ 3,538 3,536 3,545 0.1 -0.3 -1.8 3,518 3,531 3,556 3,418 2.9

 Textile products...................................... 4,141 4,152 4,176 -0.3 -0.6 -1.1 4,130 4,186 4,229 4,175 -1.1

 Apparel................................................. 2,438 2,428 2,445 0.4 -0.7 -0.9 2,303 2,330 2,379 2,004 14.9

 Leather and allied products....................... 1,186 1,191 1,198 -0.4 -0.6 -2.8 1,165 1,169 1,196 1,006 15.8

 Paper products....................................... 16,650 16,660 16,632 -0.1 0.2 0.1 16,589 16,751 16,690 16,244 2.1

 Pulp, paper, and paperboard mills........... 5,086 5,077 5,067 0.2 0.2 0.0 5,133 5,140 5,078 4,948 3.7

 Paperboard containers......................... 6,195 6,200 6,196 -0.1 0.1 0.5 6,140 6,252 6,279 5,855 4.9

 Printing.................................................. 6,325 6,430 6,496 -1.6 -1.0 -0.4 6,278 6,428 6,432 6,355 -1.2

 Petroleum and coal products..................... 46,626 49,001 51,121 -4.8 -4.1 -0.3 47,120 47,964 49,144 50,735 -7.1

 Petroleum refineries............................. 39,447 41,889 44,094 -5.8 -5.0 -0.4 39,903 40,780 42,086 44,153 -9.6

 Chemical products..................................... 104,215 104,195 103,885 0.0 0.3 0.0 105,305 104,616 103,785 103,294 1.9

 Pesticides, fertilizers, and other

 agricultural chemicals........................ 6,622 6,618 6,517 0.1 1.5 -2.2 6,979 7,046 6,884 6,401 9.0

 Pharmaceuticals and medicines.............. 44,119 44,029 43,730 0.2 0.7 1.3 44,712 43,700 43,750 43,802 2.1

 Paints, coatings, and adhesives.............. 5,169 5,209 5,220 -0.8 -0.2 -0.4 5,290 5,311 5,247 4,788 10.5

 Plastics and rubber products..................... 31,895 31,694 31,593 0.6 0.3 -0.3 32,014 31,925 31,646 31,081 3.0

p Preliminary 

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

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

non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. 

Estimates are not adjusted for price changes. 

2

 Estimates of inventories for the semiconductor industry data are included in computers and electronic products, and all other applicable aggregate totals. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey 

panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 5. Value of Manufacturers' Shipments, New Orders, Unfilled Orders, and Total Inventories for 

 Topical Series1, 2

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly Year to date

Industry % Change6

Mar. Feb. Jan. Feb. - Jan. - Dec. - Mar. Feb. Jan. Mar. 2023/

2023p 2023r 2023 Mar. Feb. Jan. 2023p 2023r 2023 2022 2023p 2022 2022

SHIPMENTS

 All manufacturing industries......................... 539,889 540,525 545,595 -0.1 -0.9 0.3 576,782 500,053 503,450 568,556 1,580,285 1,524,078 3.7

 Construction materials and supplies....... 60,965 61,104 61,301 -0.2 -0.3 0.1 62,923 54,598 54,169 63,352 171,690 171,277 0.2

 Information technology......................... 25,011 24,930 25,016 0.3 -0.3 0.2 27,524 22,228 21,624 26,691 71,376 69,201 3.1

 Computers and related products........... 2,395 2,335 2,389 2.6 -2.3 5.1 2,638 1,803 2,131 2,028 6,572 5,013 31.1

 Motor vehicle and parts......................... 61,458 61,278 62,112 0.3 -1.3 -0.3 70,955 59,150 56,331 65,873 186,436 168,760 10.5

 Capital goods...................................... 100,188 97,385 98,539 2.9 -1.2 -1.7 112,463 89,220 85,980 102,159 287,663 265,982 8.2

 Nondefense capital goods3.................. 85,714 82,752 83,685 3.6 -1.1 -1.7 96,326 74,980 73,546 86,898 244,852 225,676 8.5

 Excluding aircraft............................. 74,606 74,948 75,301 -0.5 -0.5 0.9 82,628 69,612 67,788 79,483 220,028 208,853 5.4

 Defense capital goods4........................ 14,474 14,633 14,854 -1.1 -1.5 -1.3 16,137 14,240 12,434 15,261 42,811 40,306 6.2

 Consumer goods.................................. 224,737 227,915 231,825 -1.4 -1.7 0.7 234,975 209,865 216,035 238,690 660,875 637,382 3.7

 Consumer durable goods..................... 45,809 45,426 46,471 0.8 -2.2 -0.9 52,681 42,903 40,762 49,668 136,346 124,961 9.1

 Consumer nondurable goods................ 178,928 182,489 185,354 -2.0 -1.5 1.1 182,294 166,962 175,273 189,022 524,529 512,421 2.4

 All manufacturing industries5...................... 539,009 534,148 540,321 0.9 -1.1 -2.1 582,027 497,367 504,364 574,394 1,583,758 1,547,046 2.4

 Construction materials and supplies....... 61,205 61,053 61,166 0.2 -0.2 0.2 64,706 55,075 55,011 64,888 174,792 175,067 -0.2

 Information technology......................... 25,721 25,067 25,058 2.6 0.0 -0.1 29,322 22,691 21,717 28,178 73,730 71,095 3.7

 Computers and related products........... 2,410 2,329 2,409 3.5 -3.3 6.2 2,653 1,797 2,151 2,030 6,601 4,999 32.0

 Motor vehicle and parts......................... 61,507 61,462 62,166 0.1 -1.1 0.0 70,894 60,028 56,679 66,089 187,601 170,181 10.2

 Capital goods...................................... 103,749 95,660 98,705 8.5 -3.1 -13.6 119,517 88,733 90,225 110,060 298,475 294,598 1.3

 Nondefense capital goods3.................. 89,321 81,115 83,093 10.1 -2.4 -16.2 100,241 75,189 77,773 92,344 253,203 253,854 -0.3

 Excluding aircraft............................. 74,108 74,562 75,127 -0.6 -0.8 0.5 82,331 71,024 70,784 81,019 224,139 217,147 3.2

 Defense capital goods4........................ 14,428 14,545 15,612 -0.8 -6.8 2.8 19,276 13,544 12,452 17,716 45,272 40,744 11.1

 Consumer goods.................................. 224,750 228,101 231,877 -1.5 -1.6 0.6 235,103 210,018 216,147 238,653 661,268 637,427 3.7

 Consumer durable goods..................... 45,822 45,612 46,523 0.5 -2.0 -1.0 52,809 43,056 40,874 49,631 136,739 125,006 9.4

 Consumer nondurable goods.............. 178,928 182,489 185,354 -2.0 -1.5 1.1 182,294 166,962 175,273 189,022 524,529 512,421 2.4

 All manufacturing industries5...................... 1,159,722 1,155,476 1,156,674 0.4 -0.1 0.0 1,171,558 1,161,928 1,159,765 1,111,663 (X) (X) 5.4

 Construction materials and supplies....... 89,664 89,424 89,475 0.3 -0.1 -0.2 89,962 88,179 87,702 88,651 (X) (X) 1.5

 Information technology......................... 144,578 143,868 143,731 0.5 0.1 0.0 145,758 143,960 143,497 143,305 (X) (X) 1.7

 Computers and related products........... 1,206 1,191 1,197 1.3 -0.5 1.7 1,206 1,191 1,197 1,205 (X) (X) 0.1

 Motor vehicle and parts......................... 27,886 27,837 27,653 0.2 0.7 0.2 28,906 28,967 28,089 29,168 (X) (X) -0.9

 Capital goods...................................... 854,815 851,254 852,979 0.4 -0.2 0.0 862,898 855,844 856,331 808,787 (X) (X) 6.7

 Nondefense capital goods3.................. 665,917 662,310 663,947 0.5 -0.2 -0.1 670,904 666,989 666,780 619,806 (X) (X) 8.2

 Excluding aircraft............................. 266,323 266,821 267,207 -0.2 -0.1 -0.1 268,229 268,526 267,114 264,588 (X) (X) 1.4

 Defense capital goods4........................ 188,898 188,944 189,032 0.0 0.0 0.4 191,994 188,855 189,551 188,981 (X) (X) 1.6

 Consumer goods.................................. 11,233 11,220 11,034 0.1 1.7 0.5 11,357 11,229 11,076 11,540 (X) (X) -1.6

 Consumer durable goods..................... 11,233 11,220 11,034 0.1 1.7 0.5 11,357 11,229 11,076 11,540 (X) (X) -1.6 

 All manufacturing industries....................... 799,379 805,607 807,050 -0.8 -0.2 -0.1 800,215 808,093 803,969 784,560 (X) (X) 2.0

 Construction materials and supplies....... 86,970 86,908 87,052 0.1 -0.2 -0.3 88,226 88,116 87,537 85,309 (X) (X) 3.4

 Information technology......................... 45,337 45,196 45,116 0.3 0.2 0.0 44,868 45,156 44,678 42,826 (X) (X) 4.8

 Computers and related products........... 3,759 3,723 3,754 1.0 -0.8 -2.4 3,573 3,669 3,615 3,628 (X) (X) -1.5

 Motor vehicle and parts......................... 51,416 51,809 51,842 -0.8 -0.1 0.4 51,140 52,481 51,721 50,675 (X) (X) 0.9

 Capital goods...................................... 238,411 242,072 241,565 -1.5 0.2 -0.2 237,889 242,038 239,220 230,664 (X) (X) 3.1

 Nondefense capital goods3.................. 215,224 218,904 218,350 -1.7 0.3 -0.3 214,668 219,017 216,196 208,572 (X) (X) 2.9

 Excluding aircraft............................. 154,286 153,890 153,576 0.3 0.2 0.2 154,196 154,211 152,065 143,548 (X) (X) 7.4

 Defense capital goods4........................ 23,187 23,168 23,215 0.1 -0.2 0.9 23,221 23,021 23,024 22,092 (X) (X) 5.1

 Consumer goods.................................. 242,049 244,387 246,055 -1.0 -0.7 0.2 241,675 244,069 244,356 240,446 (X) (X) 0.5

 Consumer durable goods..................... 42,819 43,098 42,962 -0.6 0.3 -0.5 42,132 43,588 42,646 41,595 (X) (X) 1.3

 Consumer nondurable goods................ 199,230 201,289 203,093 -1.0 -0.9 0.3 199,543 200,481 201,710 198,851 (X) (X) 0.3

NEW ORDERS 

UNFILLED ORDERS 

TOTAL INVENTORIES 

X

 Not Applicable 

p

 Preliminary 

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

1

 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for noncalendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates 

are not adjusted for price changes. 

2 Topical series are regroupings of the separate industry categories. 

3

 Nondefense capital goods industries include: small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry, and other machinery; photographic equipment; 

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

communications equipment; search and navigation equipment; electromedical, measuring, and control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and 

boats; office and institutional furniture; and medical equipment and supplies. 

4

 Defense capital goods industries include: small arms and ordnance; communications equipment; aircraft; missiles, space vehicles, and parts; ships and boats; and search and navigation equipment. 

5 Estimates and percent changes exclude semiconductor industry data. 

6

 Based on year-to-date for shipments and new orders, but on same month prior year for unfilled orders and inventories. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey 

panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>. 
Table 6. Value of Manufacturers' Inventories, by Stage of Fabrication, by Industry Group1 

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly % Change

Industry March

Mar. Feb. Jan. Feb. - Jan. - Dec. - Mar. Feb. Jan. Mar. 2023/

2023p 2023r 2023 Mar. Feb. Jan. 2023p 2023r 2023 2022 2022

MATERIALS AND SUPPLIES

 All manufacturing industries....................... 294,506 295,421 296,639 -0.3 -0.4 -0.2 294,286 295,254 296,488 285,074 3.2

 Durable goods industries.......................... 183,362 183,079 183,211 0.2 -0.1 0.2 182,672 182,710 183,308 173,463 5.3

 Wood products................................... 6,460 6,419 6,443 0.6 -0.4 0.5 6,493 6,583 6,609 6,396 1.5

 Nonmetallic mineral products................. 7,554 7,551 7,495 0.0 0.7 1.2 7,588 7,590 7,482 6,709 13.1

 Primary metals.................................... 14,262 13,996 13,801 1.9 1.4 0.4 13,992 13,866 13,821 13,794 1.4

 Fabricated metal products.......................... 24,310 24,311 24,477 0.0 -0.7 -1.1 24,217 24,225 24,558 25,393 -4.6

 Machinery.......................................... 38,340 38,527 38,636 -0.5 -0.3 0.9 38,391 38,299 38,335 34,518 11.2

 Computers and electronic products........ 25,874 25,877 25,853 0.0 0.1 0.7 25,482 25,684 25,744 23,510 8.4

 Electrical equipment, appliances,

 and components............................... 11,602 11,533 11,476 0.6 0.5 -0.3 11,642 11,623 11,536 10,383 12.1

 Transportation equipment..................... 40,862 40,839 41,075 0.1 -0.6 -0.5 40,936 40,943 41,234 39,495 3.6

 Furniture and related products............... 4,985 4,938 4,912 1.0 0.5 0.4 4,963 4,951 4,968 4,708 5.4

 Miscellaneous products......................... 9,113 9,088 9,043 0.3 0.5 1.8 8,968 8,946 9,021 8,557 4.8

 Nondurable goods industries...................... 111,144 112,342 113,428 -1.1 -1.0 -0.9 111,614 112,544 113,180 111,611 0.0

 Food products.................................... 24,423 24,449 24,490 -0.1 -0.2 0.4 24,227 24,491 24,671 23,718 2.1

 Beverage and tobacco products........................ 6,001 5,890 5,969 1.9 -1.3 -0.5 6,079 6,040 6,250 6,009 1.2

 Textiles.............................................. 1,410 1,412 1,410 -0.1 0.1 -0.2 1,403 1,402 1,404 1,354 3.6

 Textile products................................... 1,546 1,534 1,532 0.8 0.1 -0.3 1,542 1,539 1,551 1,485 3.8

 Apparel............................................. 700 700 722 0.0 -3.0 0.8 678 684 711 678 0.0

 Leather and allied products.................... 375 376 384 -0.3 -2.1 -1.8 368 371 386 338 8.9

 Paper products.................................... 8,779 8,788 8,779 -0.1 0.1 0.0 8,727 8,840 8,844 8,392 4.0

 Printing ............................................. 3,307 3,393 3,417 -2.5 -0.7 -1.6 3,282 3,386 3,394 3,317 -1.1

 Petroleum and coal products................. 15,115 15,997 16,937 -5.5 -5.5 -4.2 15,566 15,810 16,130 16,944 -8.1

 Chemical products................................ 35,577 35,793 35,818 -0.6 -0.1 -0.9 35,893 35,923 35,821 35,722 0.5

 Plastics and rubber products.................. 13,911 14,010 13,970 -0.7 0.3 0.6 13,849 14,058 14,018 13,654 1.4

WORK IN PROCESS

 All manufacturing industries....................... 222,687 227,478 227,522 -2.1 0.0 -0.5 222,677 227,567 225,255 223,554 -0.4

 Durable goods industries.......................... 168,782 172,997 173,079 -2.4 0.0 -1.2 168,766 173,173 171,526 171,361 -1.5

 Wood products................................... 1,785 1,797 1,795 -0.7 0.1 -11.7 1,836 1,847 1,841 2,142 -14.3

 Nonmetallic mineral products................. 1,533 1,522 1,517 0.7 0.3 -0.9 1,587 1,569 1,521 1,524 4.1

 Primary metals.................................... 12,172 12,600 12,758 -3.4 -1.2 -1.4 12,220 12,631 12,606 12,893 -5.2

 Fabricated metal products.......................... 15,377 15,293 15,320 0.5 -0.2 0.9 15,438 15,327 15,287 14,418 7.1

 Machinery.......................................... 24,791 24,267 24,048 2.2 0.9 -2.3 25,163 24,512 23,605 23,320 7.9

 Computers and electronic products........ 12,516 12,704 12,870 -1.5 -1.3 -1.5 12,572 12,900 13,017 13,737 -8.5

 Electrical equipment, appliances,

 and components............................... 4,228 4,249 4,230 -0.5 0.4 -3.2 4,220 4,246 4,167 4,152 1.6

 Transportation equipment..................... 90,293 94,499 94,427 -4.5 0.1 -0.9 89,721 94,086 93,409 93,506 -4.0

 Furniture and related products............... 1,346 1,352 1,391 -0.4 -2.8 -1.6 1,323 1,356 1,404 1,313 0.8

 Miscellaneous products......................... 4,741 4,714 4,723 0.6 -0.2 -1.5 4,686 4,699 4,669 4,356 7.6

 Nondurable goods industries...................... 53,905 54,481 54,443 -1.1 0.1 1.7 53,911 54,394 53,729 52,193 3.3

 Food products.................................... 6,052 6,078 5,960 -0.4 2.0 1.6 5,974 6,262 6,241 6,030 -0.9

 Beverage and tobacco products........................ 9,122 9,024 8,922 1.1 1.1 0.5 9,101 9,154 9,166 8,768 3.8

 Textiles.............................................. 584 579 586 0.9 -1.2 -4.1 579 578 583 615 -5.9

 Textile products................................... 445 442 450 0.7 -1.8 -0.7 443 448 456 444 -0.2

 Apparel............................................. 279 278 283 0.4 -1.8 -2.7 273 271 275 265 3.0

 Leather and allied products.................... 120 117 113 2.6 3.5 -0.9 122 118 114 118 3.4

 Paper products.................................... 1,431 1,430 1,425 0.1 0.4 0.5 1,430 1,419 1,415 1,445 -1.0

 Printing ............................................. 1,090 1,112 1,145 -2.0 -2.9 -3.3 1,068 1,112 1,116 1,244 -14.1

 Petroleum and coal products................. 14,405 14,968 15,396 -3.8 -2.8 -0.3 14,574 14,721 14,382 13,883 5.0

 Chemical products................................ 16,951 16,993 16,722 -0.2 1.6 5.7 16,902 16,826 16,551 15,834 6.7

 Plastics and rubber products.................. 3,426 3,460 3,441 -1.0 0.6 -0.9 3,445 3,485 3,430 3,547 -2.9

FINISHED GOODS

 All manufacturing industries....................... 282,186 282,708 282,889 -0.2 -0.1 0.4 283,252 285,272 282,226 275,932 2.7

 Durable goods industries.......................... 136,701 137,004 136,487 -0.2 0.4 0.8 137,317 139,361 136,266 131,741 4.2

 Wood products................................... 6,005 6,105 6,159 -1.6 -0.9 1.3 6,287 6,354 6,249 6,389 -1.6

 Nonmetallic mineral products................. 7,592 7,628 7,671 -0.5 -0.6 -0.3 7,759 7,808 7,707 7,415 4.6

 Primary metals.................................... 11,772 11,784 11,822 -0.1 -0.3 0.4 11,945 12,092 12,129 11,743 1.7

 Fabricated metal products.......................... 22,511 22,524 22,456 -0.1 0.3 0.1 22,761 22,709 22,353 21,820 4.3

 Machinery.......................................... 25,989 26,114 25,979 -0.5 0.5 2.0 26,464 26,676 25,737 23,646 11.9

 Computers and electronic products........ 14,460 14,345 14,346 0.8 0.0 -0.9 14,055 14,388 14,179 13,597 3.4

 Electrical equipment, appliances,

 and components............................... 8,107 8,070 8,039 0.5 0.4 0.2 8,258 8,293 8,099 7,880 4.8

 Transportation equipment..................... 23,079 23,156 22,722 -0.3 1.9 3.0 22,771 23,767 22,598 22,193 2.6

 Furniture and related products............... 3,627 3,640 3,671 -0.4 -0.8 -2.5 3,515 3,605 3,670 3,516 0.0

 Miscellaneous products......................... 13,559 13,638 13,622 -0.6 0.1 -0.3 13,502 13,669 13,545 13,542 -0.3

 Nondurable goods industries...................... 145,485 145,704 146,402 -0.2 -0.5 0.0 145,935 145,911 145,960 144,191 1.2

 Food products.................................... 34,218 34,122 34,246 0.3 -0.4 0.1 33,951 34,298 34,068 31,901 6.4

 Beverage and tobacco products........................ 13,704 13,677 13,595 0.2 0.6 0.7 13,706 13,704 13,416 13,257 3.4

 Textiles.............................................. 1,544 1,545 1,549 -0.1 -0.3 -2.3 1,536 1,551 1,569 1,449 6.0

 Textile products................................... 2,150 2,176 2,194 -1.2 -0.8 -1.8 2,145 2,199 2,222 2,246 -4.5

 Apparel............................................. 1,459 1,450 1,440 0.6 0.7 -1.4 1,352 1,375 1,393 1,061 27.4

 Leather and allied products.................... 691 698 701 -1.0 -0.4 -3.6 675 680 696 550 22.7

 Paper products.................................... 6,440 6,442 6,428 0.0 0.2 0.0 6,432 6,492 6,431 6,407 0.4

 Printing ............................................. 1,928 1,925 1,934 0.2 -0.5 3.6 1,928 1,930 1,922 1,794 7.5

 Petroleum and coal products................. 17,106 18,036 18,788 -5.2 -4.0 3.5 16,980 17,433 18,632 19,908 -14.7

 Chemical products................................ 51,687 51,409 51,345 0.5 0.1 -1.1 52,510 51,867 51,413 51,738 1.5

 Plastics and rubber products.................. 14,558 14,224 14,182 2.3 0.3 -1.0 14,720 14,382 14,198 13,880 6.1

p

 Preliminary 

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

1

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

non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. 

Estimates are not adjusted for price changes. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey 

panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see <http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on data sources and methodology can be found on our website at 

<www.census.gov/manufacturing/m3/how_the_data_are_collected/index.html>.
Table 7. Ratios of Manufacturers' Inventories to Shipments and Unfilled Orders 

 to Shipments, by Industry Group 1

[Based on Seasonally Adjusted data from the Manufacturers' Shipments, Inventories, and Orders Survey.] 

Inventory/Shipments ratio Unfilled Orders/Shipments ratio2

Industry Mar Feb Jan Dec Mar Feb Jan Dec

2023p 2023r 2023 2022 2023p 2023r 2023 2022

All manufacturing industries3

.................................... 1.48 1.49 1.48 1.49 (X) (X) (X) (X)

Durable goods industries3

........................................ 1.76 1.80 1.78 1.78 6.04 6.11 6.09 6.06

 Wood products........................................................... 1.12 1.13 1.13 1.14 (X) (X) (X) (X)

 Nonmetallic mineral products............................. 1.33 1.31 1.30 1.32 (X) (X) (X) (X)

 Primary metals............................................................ 1.89 1.90 1.90 1.93 1.50 1.51 1.51 1.53

 Fabricated metal products...................................... 1.71 1.71 1.72 1.71 3.27 3.29 3.30 3.30

 Machinery..................................................................... 2.35 2.32 2.30 2.31 3.77 3.74 3.74 3.79

 Computers and electronic products3

................... 1.80 1.80 1.79 1.80 6.32 6.26 6.30 6.29

 Electrical equipment, appliances,

 and components.................................................... 1.68 1.69 1.67 1.74 3.15 3.16 3.10 3.21

 Transportation equipment..................................... 1.65 1.76 1.73 1.69 11.61 12.17 12.03 11.64

 Furniture and related products............................ 1.60 1.59 1.58 1.60 1.80 1.79 1.76 1.77

 Miscellaneous products.......................................... 1.94 1.95 1.94 1.92 (X) (X) (X) (X)

Nondurable goods industries................................... 1.18 1.17 1.17 1.18 (X) (X) (X) (X)

 Food products............................................................. 0.84 0.84 0.85 0.85 (X) (X) (X) (X)

 Beverage and tobacco products........................... 1.63 1.67 1.66 1.63 (X) (X) (X) (X)

 Textiles.......................................................................... 1.64 1.61 1.59 1.62 (X) (X) (X) (X)

 Textile products......................................................... 2.15 2.13 2.14 2.16 (X) (X) (X) (X)

 Apparel........................................................................ 3.27 3.19 3.14 3.11 (X) (X) (X) (X)

 Leather and allied products................................ 2.49 2.47 2.36 2.44 (X) (X) (X) (X)

 Paper products.......................................................... 1.00 1.00 1.00 1.02 (X) (X) (X) (X)

 Printing........................................................................ 0.91 0.92 0.92 0.93 (X) (X) (X) (X)

 Petroleum and coal products............................... 0.93 0.91 0.89 0.92 (X) (X) (X) (X)

 Chemical products................................................... 1.54 1.54 1.55 1.57 (X) (X) (X) (X)

 Plastics and rubber products................................ 1.46 1.44 1.42 1.43 (X) (X) (X) (X)

Mar3 Mar3 Mar3 Mar3

Industry 2022- 2022- 2022- 2022-

Mar2 Feb Mar2 Feb Mar2 Feb Mar2 Feb

2023 2023 2023 2023 2023 2023 2023 2023

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

Durable goods industries....................... 0.0 0.2 0.0 0.3 0.0 0.1 0.0 0.1

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

 Nonmetallic mineral products.............. (X) 0.5 (X) (NA) (X) (NA) (X) 0.2

 Primary metals............................................. 0.3 0.4 0.1 0.5 -0.3 0.2 -0.1 0.2

 Fabricated metal products.................... 0.1 0.2 0.0 0.4 0.0 0.1 0.0 0.1

 Machinery...................................................... 0.0 0.2 -0.4 0.4 -0.1 0.1 0.0 0.1

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

 Electrical equipment, appliances,

 and components..................................... 0.0 0.4 0.0 0.6 0.0 0.1 0.1 0.1

 Transportation equipment.................... 0.0 0.4 -0.1 0.6 0.0 0.1 0.1 0.1

 Furniture and related products............. (X) 0.2 (X) 0.6 (X) 0.4 (X) 0.4

 Miscellaneous products.......................... (X) 0.3 (X) 0.4 (X) 0.1 (X) 0.1

Nondurable goods industries................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.1

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

 Beverage and tobacco products............ (X) 0.4 (X) (NA) (X) (NA) (X) 0.1

 Textiles.......................................................... (X) 0.6 (X) (NA) (X) (NA) (X) 0.4

 Textile products......................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.2

 Apparel......................................................... (X) 0.8 (X) (NA) (X) (NA) (X) 0.7

 Leather and allied products.................. (X) 1.1 (X) (NA) (X) (NA) (X) 0.8

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

 Printing.......................................................... (X) 0.7 (X) (NA) (X) (NA) (X) 0.5

 Petroleum and coal products............... (X) 1.6 (X) (NA) (X) (NA) (X) 0.6

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

 Plastics and rubber products................ (X) 0.2 (X) (NA) (X) (NA) (X) 0.2

X Not Applicable 

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

2

 Excludes the following industries with no unfilled orders: Wood products; nonmetallic mineral products; medical equipment and supplies; office 

supplies; other miscellaneous manufacturing; cutlery and handtools; farm and garden machinery; computer storage and peripheral devices; audio and 

video equipment; manufacturing and reproducing magnetic and optical media; batteries; automobiles; light trucks and utility vehicles; heavy duty trucks; 

and miscellaneous furniture. 

3

 Unfilled orders to shipments ratio excludes semiconductor manufacturing. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey error is 

nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey panel is not a probability sample, estimates of 

sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see 

<http://www.census.gov/manufacturing/m3/>. 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on data sources 

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

X Not Applicable 

NA Not Available 

1

 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the 

end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for non-calendar reporters. 

Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal 

variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 

2

 The current month revisions are the difference between the advance percent change and the percent change as shown in this publication. 

3

 The twelve month revisions are the differences between the month-to-month percent changes of the preliminary and final estimates. The 

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

change revisions for the durable goods industries are shown in the advance report for the month. 

Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component of survey 

error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey panel is not a probability sample, 

estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see 

<http://www.census.gov/manufacturing/m3/>.

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2023. Information on 

data sources and methodology can be found on our website at 

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

Table 8. Revisions to Previously Published Monthly Percent Changes 1

[Based on Seasonally Adjusted data from the Manufacturers' Shipments, Inventories, and Orders Survey.] 

Shipments New Orders Unfilled Orders Inventories