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FOR RELEASE AT 8:30 AM EDT, TUESDAY, APRIL 26, 2022 

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS, 

INVENTORIES AND ORDERS MARCH 2022 

Release Number: CB 22-66 M3-1 (22)-03 

April 26, 2022 — The U.S. Census Bureau announces the March advance report on durable goods 

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in March increased $2.3 billion or 0.8 percent to $275.0

billion, the U.S. Census Bureau announced today. This increase, up five of the last six months, followed a

1.7 percent February decrease. Excluding transportation, new orders increased 1.1 percent. Excluding 

defense, new orders increased 1.2 percent. Computers and electronic products, up two of the last three 

months, led the increase, $0.7 billion or 2.6 percent to $26.3 billion.

Shipments

Shipments of manufactured durable goods in March, up ten of the last eleven months, increased $3.3

billion or 1.2 percent to $274.2 billion. This followed a 0.1 percent February increase. Transportation 

equipment, up five of the last six months, led the increase, $1.9 billion or 2.4 percent to $80.0 billion.

DURABLE GOODS – NEW ORDERS

MARCH 2022 $275.0 billion +0.8%°

FEBRUARY 2022

(revised) $272.7 billion -1.7%°

Next release: May 25, 2022 

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, April 26, 

2022.

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22

DURABLE GOODS NEW ORDERS 2021-2022

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, April 26, 2022.
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Unfilled Orders

Unfilled orders for manufactured durable goods in March, up fourteen consecutive months, increased $5.3

billion or 0.4 percent to $1,294.6 billion. This followed a 0.5 percent February increase. Transportation 

equipment, up thirteen of the last fourteen months, led the increase, $3.7 billion or 0.4 percent to $857.6

billion.

Inventories

Inventories of manufactured durable goods in March, up fourteen consecutive months, increased $3.3

billion or 0.7 percent to $482.9 billion. This followed a 0.6 percent February increase. Transportation 

equipment, up four of the last five months, led the increase, $1.5 billion or 1.0 percent to $156.0 billion. 

Capital Goods

Nondefense new orders for capital goods in March decreased $0.5 billion or 0.5 percent to $90.0 billion. 

Shipments decreased $0.1 billion or 0.1 percent to $84.2 billion. Unfilled orders increased $5.9 billion or 

0.7 percent to $805.2 billion. Inventories increased $2.1 billion or 1.0 percent to $212.7 billion. Defense 

new orders for capital goods in March decreased $0.7 billion or 5.6 percent to $11.3 billion. Shipments

decreased $0.2 billion or 1.9 percent to $12.6 billion. Unfilled orders decreased $1.3 billion or 0.7 percent 

to $183.4 billion. Inventories increased $0.1 billion or 0.4 percent to $21.4 billion.

Revised February Data

Revised seasonally adjusted February figures for all manufacturing industries were: new orders, $545.4

billion (revised from $542.0 billion); shipments, $543.6 billion (revised from $541.0 billion); unfilled orders, 

$1,289.3 billion (revised from $1,288.5 billion) and total inventories, $787.0 billion (revised from $785.2

billion).

Revised and more detailed estimates, plus nondurable goods data, will be published on May 3, 2022, at

10:00 a.m. EDT. The Advance Report on durable goods for April is scheduled for release on May 25, 2022,

at 8:30 a.m. EDT. View the full schedule in the Economic Briefing Room: <www.census.gov/economicindicators/>. The full text and tables of this release can be found at <www.census.gov/m3>.

EXPLANATORY NOTES

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

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

decrease.

Description of the survey

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

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

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

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

current cost or market value), and inventories by stage of fabrication (materials and supplies, work-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. 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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Special Notice - New Advance Estimates Of Total Manufacturing

Beginning with September 2021 data on October 27, 2021, advance estimates of total manufacturing, 

including M3 durable and nondurable industries, for shipments and inventories, are available at the same 

time as the Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders. 

Monthly advance total manufacturing estimates are available on a seasonally adjusted basis as well as a 

not seasonally adjusted basis on the M3 website under the “Advance Report Highlights”. 

Benchmark notice

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

issued on May 13, 2022. These revisions result from

• Benchmarking the M3 shipments and inventories data to the 2020 and 2019 Annual Survey of 

Manufactures (ASM) data; 

• Incorporating the unfilled orders-to-shipments ratios obtained for 2020, 2019, and 2018 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 2022 and the data 

not seasonally adjusted for January 2017 through March 2022. An updated Press Release will contain

revised monthly tables for January 2022 through March 2022.

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/>
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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.  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

Mar Feb Jan Feb ‐ Jan ‐ Dec ‐ Mar Feb Mar Change

2022 2 2022 r 2022 Mar 2 Feb r Jan 2022 2 2022 r 2021 2022 2021 2022/2021

DURABLE GOODS

   Total:               

               Shipments................................ 274,229 270,926 270,668 1.2 0.1 1.2 299,678 255,387 269,425 797,878 717,762 11.2

               New Orders4

.............................. 275,013 272,718 277,490 0.8 ‐1.7 1.5 307,577 265,274 279,768 832,938 739,617 12.6

         Excluding transportation:

               Shipments................................ 194,251 192,839 192,472 0.7 0.2 1.6 207,856 179,327 186,088 560,730 499,217 12.3

               New Orders4

.............................. 191,319 189,154 190,044 1.1 ‐0.5 0.8 207,755 179,256 190,378 562,951 510,441 10.3

         Excluding defense:

               Shipments................................ 259,744 256,133 255,828 1.4 0.1 1.1 283,409 241,197 254,510 755,111 678,625 11.3

               New Orders4

.............................. 262,144 259,086 264,717 1.2 ‐2.1 1.3 289,239 251,578 259,865 790,961 693,155 14.1

    Manufacturing with unfilled orders:

               Shipments................................ 192,040 191,348 190,981 0.4 0.2 2.1 210,196 180,564 186,725 562,994 495,314 13.7

               New Orders.............................. 197,357 197,607 202,191 ‐0.1 ‐2.3 2.5 222,089 194,625 200,889 610,981 529,692 15.3

    Primary metals:

               Shipments................................ 25,297 24,891 24,708 1.6 0.7 ‐0.6 27,433 24,071 23,085 75,547 62,965 20.0

               New Orders.............................. 25,551 25,173 25,161 1.5 0.0 ‐0.3 27,768 24,883 24,069 77,990 66,230 17.8

    Fabricated metal products:

               Shipments................................ 37,914 37,419 37,341 1.3 0.2 1.2 39,738 35,084 34,727 109,399 94,464 15.8

               New Orders.............................. 38,117 37,832 37,470 0.8 1.0 0.0 41,599 36,101 38,545 113,597 103,602 9.6

    Machinery:

               Shipments................................ 38,663 38,343 39,014 0.8 ‐1.7 3.0 43,232 36,485 38,073 114,014 99,880 14.2

               New Orders.............................. 39,015 38,751 39,889 0.7 ‐2.9 3.0 43,174 38,329 39,375 118,924 105,994 12.2

    Computers and electronic products4

:

               Shipments................................ 30,252 30,373 29,986 ‐0.4 1.3 1.9 32,617 27,318 31,008 86,933 82,307 5.6

               New Orders.............................. 26,274 25,606 25,896 2.6 ‐1.1 0.4 29,916 22,992 28,314 75,766 71,652 5.7

         Computers and related products:

               Shipments................................ 2,100 2,070 1,973 1.4 4.9 2.3 2,324 1,617 2,154 5,663 5,420 4.5

               New Orders.............................. 2,092 2,066 1,959 1.3 5.5 4.0 2,316 1,613 2,171 5,637 5,428 3.9

         Communications equipment:

               Shipments................................ 3,696 3,818 3,788 ‐3.2 0.8 7.9 4,375 3,174 4,113 10,596 9,578 10.6

               New Orders.............................. 3,961 3,702 3,881 7.0 ‐4.6 ‐7.6 4,656 3,163 4,269 11,043 9,933 11.2

    Electrical equipment, appliances,    

       and components:                   

               Shipments................................ 13,818 13,562 13,238 1.9 2.4 1.3 14,883 12,348 12,938 38,642 34,150 13.2

               New Orders.............................. 14,137 13,608 13,443 3.9 1.2 ‐0.3 15,186 12,888 13,320 40,097 36,364 10.3

    Transportation equipment:    

               Shipments................................ 79,978 78,087 78,196 2.4 ‐0.1 0.5 91,822 76,060 83,337 237,148 218,545 8.5

               New Orders.............................. 83,694 83,564 87,446 0.2 ‐4.4 3.2 99,822 86,018 89,390 269,987 229,176 17.8

         Motor vehicles and parts:

               Shipments................................ 57,425 54,675 54,692 5.0 0.0 ‐0.9 65,668 54,269 59,801 169,580 160,001 6.0

               New Orders.............................. 57,729 54,955 54,782 5.0 0.3 ‐0.6 65,785 55,108 59,944 171,027 161,963 5.6

         Nondefense aircraft and parts5

:

               Shipments................................ 7,853 8,347 8,456 ‐5.9 ‐1.3 4.2 9,590 7,184 8,627 23,806 19,571 21.6

               New Orders.............................. 12,672 14,072 19,360 ‐9.9 ‐27.3 10.9 15,863 16,213 10,386 55,452 21,876 153.5

         Defense aircraft and parts:

               Shipments................................ 4,453 4,727 4,500 ‐5.8 5.0 4.0 5,138 4,326 5,081 12,983 13,002 ‐0.1

               New Orders.............................. 3,294 4,429 2,916 ‐25.6 51.9 ‐29.6 5,019 4,082 5,893 10,953 15,227 ‐28.1

    All other durable goods:           

               Shipments................................ 48,307 48,251 48,185 0.1 0.1 1.6 49,953 44,021 46,257 136,195 125,451 8.6

               New Orders.............................. 48,225 48,184 48,185 0.1 0.0 0.7 50,112 44,063 46,755 136,577 126,599 7.9

    Capital goods3

:

               Shipments................................ 96,730 97,043 97,255 ‐0.3 ‐0.2 2.7 108,108 90,284 97,718 283,137 253,489 11.7

               New Orders.............................. 101,306 102,432 107,047 ‐1.1 ‐4.3 4.9 117,809 101,586 106,669 322,308 272,535 18.3

           Nondefense capital goods:

               Shipments................................ 84,150 84,215 84,287 ‐0.1 ‐0.1 2.4 94,081 77,893 85,007 245,933 219,875 11.9

               New Orders.............................. 90,027 90,484 96,367 ‐0.5 ‐6.1 3.5 101,560 89,614 88,830 285,334 230,999 23.5

                Excluding aircraft:

                    Shipments........................... 79,710 79,524 79,330 0.2 0.2 2.2 88,393 74,288 79,756 233,029 208,898 11.6

                    New Orders.......................... 80,783 80,018 80,294 1.0 ‐0.3 1.2 89,650 76,902 81,723 240,789 218,035 10.4

           Defense capital goods:

               Shipments................................ 12,580 12,828 12,968 ‐1.9 ‐1.1 5.0 14,027 12,391 12,711 37,204 33,614 10.7

               New Orders.............................. 11,279 11,948 10,680 ‐5.6 11.9 18.6 16,249 11,972 17,839 36,974 41,536 ‐11.0

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, March Advance Report, April 26, 2022. 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

Mar Feb Jan Feb ‐ Jan ‐ Dec ‐ Mar Feb Mar 2022/

2022 2 2022 r 2022 Mar 2 Feb r Jan 2022 2 2022 r 2021 2021

DURABLE GOODS

   Total:                   

               Unfilled Orders4......................... 1,294,611 1,289,294 1,283,035 0.4 0.5 0.9 1,309,260 1,297,367 1,208,989 8.3

               Total Inventories....................... 482,893 479,554 476,790 0.7 0.6 0.5 483,829 482,427 440,254 9.9

         Excluding transportation:

               Unfilled Orders4

......................... 436,968 435,367 434,585 0.4 0.2 0.5 440,860 436,967 394,472 11.8

               Total Inventories....................... 326,923 325,117 322,708 0.6 0.7 0.9 328,436 327,618 292,171 12.4

         Excluding defense:

               Unfilled Orders4

........................... 1,086,227 1,079,294 1,071,874 0.6 0.7 1.3 1,097,012 1,087,188 985,113 11.4

               Total Inventories....................... 457,662 454,438 451,582 0.7 0.6 0.6 458,507 457,311 415,809 10.3

    Manufacturing with unfilled orders:

               Unfilled Orders......................... 1,294,611 1,289,294 1,283,035 0.4 0.5 0.9 1,309,260 1,297,367 1,208,989 8.3

               Total Inventories....................... 388,896 386,403 384,144 0.6 0.6 0.5 389,287 387,607 355,810 9.4

    Primary metals:

               Unfilled Orders......................... 41,998 41,744 41,462 0.6 0.7 1.1 42,851 42,516 37,972 12.8

               Total Inventories....................... 43,487 43,457 42,971 0.1 1.1 0.6 43,562 43,800 37,079 17.5

    Fabricated metal products:

               Unfilled Orders......................... 106,048 105,845 105,432 0.2 0.4 0.1 106,602 104,741 93,499 14.0

               Total Inventories....................... 63,486 63,311 63,177 0.3 0.2 0.7 63,810 63,622 55,573 14.8

    Machinery:     

               Unfilled Orders......................... 117,552 117,200 116,792 0.3 0.3 0.8 118,904 118,962 103,550 14.8

               Total Inventories....................... 81,596 80,692 79,696 1.1 1.2 1.3 82,575 81,407 71,477 15.5

    Computers and electronic products4

:

               Unfilled Orders......................... 125,199 124,644 124,944 0.4 ‐0.2 0.2 126,199 124,906 119,607 5.5

               Total Inventories....................... 48,287 48,170 48,201 0.2 ‐0.1 0.1 47,737 48,229 46,083 3.6

         Computers and related products:

               Unfilled Orders......................... 1,340 1,348 1,352 ‐0.6 ‐0.3 ‐1.0 1,340 1,348 1,553 ‐13.7

               Total Inventories....................... 3,880 3,810 3,787 1.8 0.6 ‐1.1 3,696 3,744 3,491 5.9

         Communications equipment:

               Unfilled Orders......................... 22,348 22,083 22,199 1.2 ‐0.5 0.4 22,538 22,257 18,837 19.6

               Total Inventories....................... 5,227 5,177 5,139 1.0 0.7 0.0 5,135 5,177 4,970 3.3

    Electrical equipment, appliances,    

        and components:                   

               Unfilled Orders......................... 33,459 33,140 33,094 1.0 0.1 0.6 33,755 33,452 28,818 17.1

               Total Inventories....................... 23,091 22,895 22,632 0.9 1.2 1.8 23,349 23,214 20,398 14.5

    Transportation equipment:    

               Unfilled Orders......................... 857,643 853,927 848,450 0.4 0.6 1.1 868,400 860,400 814,517 6.6

               Total Inventories....................... 155,970 154,437 154,082 1.0 0.2 ‐0.1 155,393 154,809 148,083 4.9

         Motor vehicles and parts:

               Unfilled Orders......................... 29,043 28,739 28,459 1.1 1.0 0.3 30,077 29,960 26,809 12.2

               Total Inventories....................... 51,228 50,687 50,497 1.1 0.4 0.7 51,257 51,222 44,331 15.6

         Nondefense Aircraft and parts:

               Unfilled Orders......................... 636,622 631,803 626,078 0.8 0.9 1.8 643,013 636,740 581,065 10.7

               Total Inventories....................... 76,174 75,506 75,256 0.9 0.3 ‐0.9 75,528 75,362 76,511 ‐1.3

         Defense Aircraft and parts:       

               Unfilled Orders......................... 78,837 79,996 80,294 ‐1.4 ‐0.4 ‐1.9 79,991 80,110 86,206 ‐7.2

               Total Inventories....................... 12,648 12,581 12,728 0.5 ‐1.2 1.6 12,595 12,597 12,202 3.2

    All other durable goods:           

               Unfilled Orders......................... 12,712 12,794 12,861 ‐0.6 ‐0.5 0.0 12,549 12,390 11,026 13.8

               Total Inventories....................... 66,976 66,592 66,031 0.6 0.8 0.9 67,403 67,346 61,561 9.5

    Capital goods3

:

               Unfilled Orders......................... 988,560 983,984 978,595 0.5 0.6 1.0 999,750 990,049 925,499 8.0

               Total Inventories....................... 234,086 231,892 230,049 0.9 0.8 0.4 233,567 232,103 216,639 7.8

           Nondefense capital goods:

               Unfilled Orders......................... 805,183 799,306 793,037 0.7 0.8 1.5 812,767 805,288 727,849 11.7

               Total Inventories....................... 212,673 210,558 208,596 1.0 0.9 0.4 212,010 210,785 195,815 8.3

                Excluding aircraft:               

                    Unfilled Orders.................... 245,498 244,425 243,931 0.4 0.2 0.4 247,527 246,270 223,047 11.0

                    Total Inventories................... 146,605 145,117 143,483 1.0 1.1 1.1 146,661 145,576 130,373 12.5

           Defense capital goods:

               Unfilled Orders......................... 183,377 184,678 185,558 ‐0.7 ‐0.5 ‐1.2 186,983 184,761 197,650 ‐5.4

               Total Inventories....................... 21,413 21,334 21,453 0.4 ‐0.6 0.3 21,557 21,318 20,824 3.5

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, March Advance Report, April 26, 2022. 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>.