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FOR RELEASE AT 8:30 AM EDT, THURSDAY, JULY 25, 2019

MONTHLY ADVANCE REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND

ORDERS JUNE 2019

Release Number: CB 19‐103 M3‐1 (19)‐06

July 25, 2019 — The U.S. Census Bureau announces the June advance report on manufacturers’ shipments,

inventories and orders:

New Orders

New orders for manufactured durable goods in June increased $4.9 billion or 2.0 percent to $246.0 billion,

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

followed a 2.3 percent May decrease.  Excluding transportation, new orders increased 1.2 percent.  

Excluding defense, new orders increased 3.1 percent.  Transportation equipment, also up following two

consecutive monthly decreases, led the increase, $3.0 billion or 3.8 percent to $80.5 billion.

Shipments

Shipments of manufactured durable goods in June, up two consecutive months, increased $3.5 billion or

1.4 percent to $258.2 billion.  This followed a 0.5 percent May increase.  Transportation equipment, also

up two consecutive months, led the increase, $2.6 billion or 3.1 percent to $88.8 billion.

DURABLE GOODS – NEW ORDERS

JUNE 2019 $246.0 billion             +2.0%°   

MAY 2019  

(revised) $241.0 billion             ‐2.3%°

Next release: August 26, 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, July 25,

2019.

Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

% Change ‐0.9% 4.2% 1.5% ‐4.4% 0.6% 1.1% 0.5% ‐2.6% 1.7% ‐2.8% ‐2.3% 2.0%

‐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 2018‐2019

Seasonally Adjusted,   Month‐To‐Month Percentage Change

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

July 25, 2019.
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Unfilled Orders

Unfilled orders for manufactured durable goods in June, down four of the last five months, decreased $7.8

billion or 0.7 percent to $1,160.4 billion.  This followed a 0.8 percent May decrease.  Transportation

equipment, also down four of the last five months, drove the decrease, $8.3 billion or 1.0 percent to

$792.6 billion.

Inventories

Inventories of manufactured durable goods in June, up eleven of the last twelve months, increased $1.3

billion or 0.3 percent to $425.8 billion.  This followed a 0.5 percent May increase.  Transportation

equipment, also up eleven of the last twelve months, led the increase, $1.1 billion or 0.8 percent to $139.6

billion.   

Capital Goods

Nondefense new orders for capital goods in June increased $3.3 billion or 4.8 percent to $72.1 billion.  

Shipments increased $1.1 billion or 1.5 percent to $77.3 billion.  Unfilled orders decreased $5.1 billion or

0.7 percent to $691.6 billion.  Inventories increased $1.2 billion or 0.6 percent to $189.2 billion.  Defense

new orders for capital goods in June decreased $2.1 billion or 16.3 percent to $10.8 billion.  Shipments

decreased less than $0.1 billion or 0.3 percent to $13.0 billion.  Unfilled orders decreased $2.2 billion or

1.4 percent to $157.1 billion.  Inventories increased $0.3 billion or 1.3 percent to $23.8 billion.

Revised May Data

Revised seasonally adjusted May figures for all manufacturing industries were: new orders, $491.1 billion

(revised from $493.6 billion); shipments, $504.7 billion (revised from $504.3 billion); unfilled orders,

$1,168.2 billion (revised from $1,171.1 billion) and total inventories, $694.1 billion (unchanged).

Revised and more detailed estimates, plus nondurable goods data, will be published on August 2, 2019, at

10:00 a.m. EDT.  The Advance Report on durable goods for July is scheduled for release on August 26, 2019

at 8:30 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>.

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.
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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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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.

Notice of Revisions and Changes Due to Updated Seasonal Adjustment Models

On May 16, 2019, monthly seasonally adjusted data for Manufacturers’ Shipments, Inventories, and

Orders, based on the North American Industry Classification System, were revised for January 2002

through March 2019.  There was no accompanying press release containing revised seasonally adjusted

data for January through March of 2019, and historical data not seasonally adjusted were unchanged.   

These revisions to the historical seasonally adjusted data were based on the results of the recent annual

review of the seasonal adjustment models.  Based on this review, the lists of series that are seasonally

adjusted and not seasonally adjusted were updated.  Three unfilled orders series and one total inventories

series that have been adjusted are no longer seasonally adjusted.  Conversely, two stage of fabrication

series that have not been adjusted are now seasonally adjusted.  These changes were implemented on

May 16, 2019 and were used to produce seasonally adjusted data from the Manufacturers’ Shipments,

Inventories, and Orders Survey, beginning with the April 2019 Advance Report on Durable Goods released

on May 24, 2019 and the Full Report released on June 4, 2019.

###
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

Jun May Apr May ‐ Apr ‐  Mar ‐ Jun May Jun Change

2019 2 2019 r 2019 Jun 2 May r Apr 2019 2 2019 r 2018 2019 2018 2019/2018

DURABLE GOODS

   Total:               

               Shipments................................ 258,153 254,615 253,324 1.4 0.5 ‐1.6 271,801 261,891 269,575 1,534,240 1,484,342 3.4

               New Orders4

.............................. 245,958 241,027 246,609 2.0 ‐2.3 ‐2.8 259,849 244,724 272,159 1,495,373 1,495,978 0.0

         Excluding transportation:

               Shipments................................ 169,399 168,495 167,800 0.5 0.4 0.0 178,307 173,149 177,263 1,003,821 979,760 2.5

               New Orders4

.............................. 165,463 163,497 162,748 1.2 0.5 ‐0.2 172,666 167,932 173,618 987,675 976,897 1.1

         Excluding defense:

               Shipments................................ 243,184 239,541 238,259 1.5 0.5 ‐1.9 255,719 247,106 255,121 1,447,263 1,406,556 2.9

               New Orders4

.............................. 233,614 226,579 229,359 3.1 ‐1.2 ‐3.3 243,810 231,728 252,153 1,408,191 1,412,736 ‐0.3

    Manufacturing with unfilled orders:

               Shipments................................ 178,109 176,526 176,076 0.9 0.3 ‐1.4 189,144 181,787 189,848 1,064,005 1,034,547 2.8

               New Orders.............................. 170,279 167,332 173,554 1.8 ‐3.6 ‐3.2 181,171 168,362 196,096 1,049,151 1,068,591 ‐1.8

    Primary metals:

               Shipments................................ 20,637 20,563 20,786 0.4 ‐1.1 ‐1.5 21,181 21,712 22,440 127,962 127,986 0.0

               New Orders.............................. 20,500 20,342 20,491 0.8 ‐0.7 ‐2.5 20,869 20,939 22,737 128,296 131,351 ‐2.3

    Fabricated metal products:

               Shipments................................ 33,915 33,660 33,442 0.8 0.7 ‐0.6 35,110 35,229 34,683 201,848 194,513 3.8

               New Orders.............................. 34,314 33,601 33,428 2.1 0.5 0.8 34,827 35,607 34,468 205,785 202,253 1.7

    Machinery:

               Shipments................................ 33,594 33,318 33,057 0.8 0.8 0.3 35,637 34,871 35,455 201,690 196,760 2.5

               New Orders.............................. 33,364 32,586 32,534 2.4 0.2 0.0 34,581 33,568 34,917 201,029 199,837 0.6

    Computers and electronic products 4

:

               Shipments................................ 28,238 28,334 28,176 ‐0.3 0.6 1.4 30,657 26,653 29,261 161,899 153,545 5.4

               New Orders.............................. 24,192 24,098 23,936 0.4 0.7 ‐0.5 26,722 22,659 25,875 139,943 134,277 4.2

         Computers and related products:

               Shipments................................ 1,756 1,788 1,826 ‐1.8 ‐2.1 4.3 2,260 1,600 2,257 10,067 10,083 ‐0.2

               New Orders.............................. 1,722 1,754 1,812 ‐1.8 ‐3.2 3.4 2,226 1,566 2,260 10,019 10,223 ‐2.0

         Communications equipment:

               Shipments................................ 3,880 3,826 3,823 1.4 0.1 ‐0.3 4,629 3,565 4,318 22,183 19,972 11.1

               New Orders.............................. 3,843 3,695 3,631 4.0 1.8 ‐7.4 4,410 3,359 4,358 21,865 21,069 3.8

    Electrical equipment, appliances,    

       and components:                   

               Shipments................................ 11,802 11,693 11,638 0.9 0.5 0.2 12,546 11,917 12,080 68,859 66,358 3.8

               New Orders.............................. 11,887 11,879 11,729 0.1 1.3 0.6 12,525 12,146 12,164 69,975 67,302 4.0

    Transportation equipment:    

               Shipments................................ 88,754 86,120 85,524 3.1 0.7 ‐4.4 93,494 88,742 92,312 530,419 504,582 5.1

               New Orders.............................. 80,495 77,530 83,861 3.8 ‐7.5 ‐7.6 87,183 76,792 98,541 507,698 519,081 ‐2.2

         Motor vehicles and parts:

               Shipments................................ 62,678 60,775 60,306 3.1 0.8 ‐3.3 64,018 63,245 60,886 374,087 349,026 7.2

               New Orders.............................. 62,561 60,669 60,144 3.1 0.9 ‐3.2 63,183 63,197 60,204 373,595 348,933 7.1

         Nondefense aircraft and parts:

               Shipments................................ 11,130 10,501 10,558 6.0 ‐0.5 ‐19.3 13,309 10,281 16,825 69,598 77,333 ‐10.0

               New Orders.............................. 6,236 3,554 7,438 75.5 ‐52.2 ‐39.3 8,644 780 18,025 49,983 86,265 ‐42.1

         Defense aircraft and parts:

               Shipments................................ 4,590 4,700 4,785 ‐2.3 ‐1.8 6.0 5,175 4,636 5,022 27,034 25,616 5.5

               New Orders.............................. 2,882 4,243 5,360 ‐32.1 ‐20.8 ‐4.1 5,388 2,745 8,694 26,928 26,591 1.3

    All other durable goods:           

               Shipments................................ 41,213 40,927 40,701 0.7 0.6 0.1 43,176 42,767 43,344 241,563 240,598 0.4

               New Orders.............................. 41,206 40,991 40,630 0.5 0.9 0.1 43,142 43,013 43,457 242,647 241,877 0.3

    Capital goods3

:

               Shipments................................ 90,250 89,146 88,698 1.2 0.5 ‐2.3 97,779 89,027 98,632 533,425 520,066 2.6

               New Orders.............................. 82,940 81,761 87,454 1.4 ‐6.5 ‐4.8 90,685 78,298 102,194 516,920 536,450 ‐3.6

           Nondefense capital goods:

               Shipments................................ 77,257 76,110 75,745 1.5 0.5 ‐3.2 83,958 76,155 86,421 458,102 453,620 1.0

               New Orders.............................. 72,127 68,849 72,419 4.8 ‐4.9 ‐7.0 77,912 66,155 86,576 441,303 466,381 ‐5.4

                Excluding aircraft:

                    Shipments........................... 70,389 69,995 69,640 0.6 0.5 0.4 75,270 70,188 73,927 414,938 401,358 3.4

                    New Orders.......................... 70,146 68,869 68,629 1.9 0.3 ‐1.1 74,103 68,672 73,588 415,671 407,850 1.9

           Defense capital goods:

               Shipments................................ 12,993 13,036 12,953 ‐0.3 0.6 3.4 13,821 12,872 12,211 75,323 66,446 13.4

               New Orders.............................. 10,813 12,912 15,035 ‐16.3 ‐14.1 6.9 12,773 12,143 15,618 75,617 70,069 7.9

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, June Advance Report, July 25, 2019. 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

Jun May Apr May ‐ Apr ‐ Mar ‐ Jun May Jun 2019/

2019 2 2019 r 2019 Jun2 May r Apr 2019 2 2019 r 2018 2018

DURABLE GOODS

   Total:                   

               Unfilled Orders 4......................... 1,160,358 1,168,188 1,177,382 ‐0.7 ‐0.8 ‐0.2 1,164,780 1,172,753 1,170,456 ‐0.5

               Total Inventories....................... 425,839 424,527 422,595 0.3 0.5 0.4 423,635 427,228 400,579 5.8

         Excluding transportation:

               Unfilled Orders 4......................... 367,807 367,378 367,982 0.1 ‐0.2 ‐0.2 370,924 372,586 366,118 1.3

               Total Inventories....................... 286,260 286,063 286,274 0.1 ‐0.1 0.0 285,326 287,797 275,613 3.5

         Excluding defense:

               Unfilled Orders 4

........................... 961,808 967,013 975,581 ‐0.5 ‐0.9 ‐0.5 964,260 972,190 984,819 ‐2.1

               Total Inventories....................... 397,684 396,677 394,844 0.3 0.5 0.4 395,416 399,221 373,276 5.9

    Manufacturing with unfilled orders:

               Unfilled Orders......................... 1,160,358 1,168,188 1,177,382 ‐0.7 ‐0.8 ‐0.2 1,164,780 1,172,753 1,170,456 ‐0.5

               Total Inventories....................... 347,337 346,214 344,679 0.3 0.4 0.5 345,814 348,680 325,683 6.2

    Primary metals:

               Unfilled Orders......................... 31,024 31,161 31,382 ‐0.4 ‐0.7 ‐0.9 31,437 31,749 31,243 0.6

               Total Inventories....................... 35,857 36,171 36,422 ‐0.9 ‐0.7 0.1 35,757 36,086 35,115 1.8

    Fabricated metal products:

               Unfilled Orders......................... 86,202 85,803 85,862 0.5 ‐0.1 0.0 87,501 87,784 85,114 2.8

               Total Inventories....................... 54,675 54,553 54,638 0.2 ‐0.2 ‐0.5 54,634 54,774 53,053 3.0

    Machinery:     

               Unfilled Orders......................... 103,141 103,371 104,103 ‐0.2 ‐0.7 ‐0.5 103,139 104,195 104,414 ‐1.2

               Total Inventories....................... 72,125 71,877 71,757 0.3 0.2 0.2 71,512 72,379 67,755 5.5

    Computers and electronic products4

:

               Unfilled Orders......................... 118,524 118,205 118,047 0.3 0.1 0.0 119,100 119,056 115,610 3.0

               Total Inventories....................... 43,537 43,419 43,480 0.3 ‐0.1 0.2 43,420 44,064 43,189 0.5

         Computers and related products:

               Unfilled Orders......................... 2,147 2,181 2,215 ‐1.6 ‐1.5 ‐0.6 2,147 2,181 2,018 6.4

               Total Inventories....................... 3,809 3,759 3,741 1.3 0.5 ‐3.3 3,816 3,826 3,719 2.6

         Communications equipment:

               Unfilled Orders......................... 25,709 25,746 25,877 ‐0.1 ‐0.5 ‐0.7 25,775 25,994 26,156 ‐1.5

               Total Inventories....................... 5,570 5,542 5,559 0.5 ‐0.3 0.3 5,548 5,655 5,380 3.1

    Electrical equipment, appliances,    

        and components:                   

               Unfilled Orders......................... 19,771 19,686 19,500 0.4 1.0 0.5 20,071 20,092 19,976 0.5

               Total Inventories....................... 20,334 20,282 20,294 0.3 ‐0.1 0.0 20,429 20,573 18,852 8.4

    Transportation equipment:    

               Unfilled Orders......................... 792,551 800,810 809,400 ‐1.0 ‐1.1 ‐0.2 793,856 800,167 804,338 ‐1.3

               Total Inventories....................... 139,579 138,464 136,321 0.8 1.6 1.3 138,309 139,431 124,966 10.7

         Motor vehicles and parts:

               Unfilled Orders......................... 26,923 27,040 27,146 ‐0.4 ‐0.4 ‐0.6 26,700 27,535 26,414 1.1

               Total Inventories....................... 38,309 38,298 38,053 0.0 0.6 0.8 37,511 38,238 35,458 5.8

         Nondefense Aircraft and parts:

               Unfilled Orders......................... 578,775 583,669 590,616 ‐0.8 ‐1.2 ‐0.5 578,573 583,238 602,042 ‐3.9

               Total Inventories....................... 72,032 71,154 69,398 1.2 2.5 1.7 71,647 72,134 61,898 15.8

         Defense Aircraft and parts:       

               Unfilled Orders......................... 81,087 82,795 83,252 ‐2.1 ‐0.5 0.7 82,083 81,870 73,469 11.7

               Total Inventories....................... 13,335 13,267 13,376 0.5 ‐0.8 1.3 13,289 13,356 12,843 3.5

    All other durable goods:           

               Unfilled Orders......................... 9,145 9,152 9,088 ‐0.1 0.7 ‐0.8 9,676 9,710 9,761 ‐0.9

               Total Inventories....................... 59,732 59,761 59,683 0.0 0.1 0.2 59,574 59,921 57,649 3.3

    Capital goods3

:

               Unfilled Orders......................... 848,677 855,987 863,372 ‐0.9 ‐0.9 ‐0.1 850,692 857,786 865,477 ‐1.7

               Total Inventories....................... 212,984 211,525 209,556 0.7 0.9 0.7 212,550 213,760 196,893 8.0

           Nondefense capital goods:

               Unfilled Orders......................... 691,578 696,708 703,969 ‐0.7 ‐1.0 ‐0.5 692,621 698,667 715,573 ‐3.2

               Total Inventories....................... 189,188 188,032 186,181 0.6 1.0 0.7 188,644 190,199 173,904 8.5

                Excluding aircraft:               

                    Unfilled Orders.................... 218,802 219,045 220,171 ‐0.1 ‐0.5 ‐0.5 220,078 221,245 220,982 ‐0.4

                    Total Inventories................... 129,653 129,277 129,075 0.3 0.2 0.1 129,152 130,365 123,231 4.8

           Defense capital goods:

               Unfilled Orders......................... 157,099 159,279 159,403 ‐1.4 ‐0.1 1.3 158,071 159,119 149,904 5.4

               Total Inventories....................... 23,796 23,493 23,375 1.3 0.5 0.6 23,906 23,561 22,989 4.0

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, June Advance Report, July 25, 2019. 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>.