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FOR RELEASE AT 10:00 AM EST, FRIDAY, FEBRUARY 2, 2024 

MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS 

DECEMBER 2023

Release Number: CB 24-14 M3-2 (23)-12 

February 2, 2024 — The U.S. Census Bureau announces the December full report on manufacturers’ 

shipments, inventories and orders:

MANUFACTURED GOODS – NEW ORDERS

DECEMBER 2023 $594.3 billion +0.2%°

NOVEMBER 2023 

(revised) $593.1 billion +2.6%°

Next release: March 5, 2024

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, February 2, 2024. 

Summary

New orders for manufactured goods in December, up four of the last five months, increased $1.2 billion or 

0.2 percent to $594.3 billion, the U.S. Census Bureau reported today. This followed a 2.6 percent

November increase. Shipments, up two consecutive months, increased $0.3 billion or virtually unchanged

to $581.0 billion. This followed a 0.5 percent November increase. Unfilled orders, up twelve of the last 

thirteen months, increased $18.2 billion or 1.3 percent to $1,393.2 billion. This followed a 1.3 percent

November increase. The unfilled orders-to-shipments ratio was 7.08, up from 6.96 in November. 

Inventories, up six consecutive months, increased $1.0 billion or 0.1 percent to $857.7 billion. This 

followed a virtually unchanged November increase. The inventories-to-shipments ratio was 1.48, 

unchanged from November. 

New Orders

New orders for manufactured durable goods in December, down two of the last three months, decreased

less than $0.1 billion or virtually unchanged to $295.4 billion, down from the previously published virtually 

unchanged increase. This followed a 5.4 percent November increase. Transportation equipment, also 

0.0%

-1.7%

0.6% 0.3% 0.4%

2.3%

-2.1%

1.0%

2.3%

-3.4%

2.6%

0.2%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

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

MANUFACTURERS' NEW ORDERS 2023

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, February 2, 2024.
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down two of the last three months, drove the decrease, $1.0 billion or 0.9 percent to $106.8 billion. New 

orders for manufactured nondurable goods increased $1.2 billion or 0.4 percent to $298.9 billion. 

Shipments

Shipments of manufactured durable goods in December, down three of the last four months, decreased

$0.9 billion or 0.3 percent to $282.1 billion, unchanged from the previously published decrease. This 

followed a 1.0 percent November increase. Transportation equipment, also down three of the last four 

months, led the decrease, $0.7 billion or 0.8 percent to $89.6 billion. Shipments of manufactured

nondurable goods, up following two consecutive monthly decreases, increased $1.2 billion or 0.4 percent

to $298.9 billion. This followed a virtually unchanged November decrease. Food products, up five of the 

last six months, led the increase, $0.4 billion or 0.5 percent to $80.3 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in December, up twelve of the last thirteen months, 

increased $18.2 billion or 1.3 percent to $1,393.2 billion, unchanged from the previously published 

increase. This followed a 1.3 percent November increase. Transportation equipment, also up twelve of 

the last thirteen months, led the increase, $17.3 billion or 2.0 percent to $895.6 billion.

Inventories

Inventories of manufactured durable goods in December, up five consecutive months, increased $1.9

billion or 0.4 percent to $526.9 billion, unchanged from the previously published increase. This followed a 

0.1 percent November increase. Transportation equipment, also up five consecutive months, led the 

increase, $1.3 billion or 0.8 percent to $167.6 billion. Inventories of manufactured nondurable goods,

down three consecutive months, decreased $0.9 billion or 0.3 percent to $330.8 billion. This followed a

0.1 percent November decrease. Petroleum and coal products, also down three consecutive months, 

drove the decrease, $1.0 billion or 2.0 percent to $48.5 billion. By stage of fabrication, December

materials and supplies decreased 0.2 percent in durable goods and 0.6 percent in nondurable goods. 

Work in process increased 1.2 percent in durable goods and decreased 0.7 percent in nondurable goods. 

Finished goods increased 0.2 percent in both durable and nondurable goods. 

The Advance Report on durable goods for January is scheduled for release on February 27, 2024, at 8:30

a.m. EST and the Full Report on March 5, 2024, at 10:00 a.m. EST. View the full schedule in the Economic

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

found at <www.census.gov/m3>.
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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.

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure 

avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board 

(DRB) approval number: CBDRB-FY23-0265).

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 
Data Inquiries Media Inquiries

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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>.

Notice of Revisions and Changes Due to Updated Seasonal Adjustment Models:

On May 14, 2024, monthly seasonally adjusted data for Manufacturers’ Shipments, Inventories, and 

Orders will be revised for January 2012 through March 2024. There will be no accompanying press release 

containing revised seasonally adjusted data for January through March of 2024, and historical data not 

seasonally adjusted will be unchanged. These revisions to the historical seasonally adjusted data will be 

based on the results of the recent annual review of the seasonal adjustment models. These results of the 

annual seasonal review will be used to produce seasonally adjusted data from the Manufacturers’ 

Shipments, Inventories, and Orders Survey, beginning with the April 2024 Advance Report on Durable 

Goods scheduled for release on May 24, 2024, and the Full Report scheduled for release on June 4, 2024. 

Please call M3 staff on (301) 763-4832 with any questions.

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/>. 

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

Dec. Nov. Oct. Nov. - Oct. - Sep. - Dec. Nov. Oct. Dec. 2023/

2023p 2023r 2023 Dec. Nov. Oct. 2023p 2023r 2023 2022 2023p 2022 2022

 All manufacturing industries.................. 580,992 580,730 578,039 0.0 0.5 -1.3 562,979 568,342 591,450 567,488 6,932,689 6,922,110 0.2

 Excluding transportation................... 491,429 490,476 489,784 0.2 0.1 -1.2 472,580 478,225 502,331 475,288 5,855,458 5,918,574 -1.1

 Excluding defense.............................. 564,957 564,287 561,675 0.1 0.5 -1.5 545,500 550,655 575,333 550,355 6,743,970 6,747,617 -0.1

 With unfilled orders............................ 196,806 197,650 196,479 -0.4 0.6 -0.1 194,308 191,535 198,000 193,532 2,342,045 2,260,601 3.6

 Durable goods industries......................... 282,099 283,029 280,310 -0.3 1.0 -0.8 276,064 275,664 285,369 278,069 3,373,108 3,271,444 3.1

 Wood products....................................... 13,256 13,299 13,293 -0.3 0.0 -0.4 11,475 12,363 13,832 11,710 160,036 163,579 -2.2

 Nonmetallic mineral products.................... 13,292 13,314 13,315 -0.2 0.0 0.2 11,234 12,792 14,342 11,400 159,030 156,443 1.7

 Primary metals....................................... 26,728 26,701 26,370 0.1 1.3 -0.3 23,746 24,922 26,443 24,026 319,638 323,846 -1.3

 Iron and steel mills............................ 15,172 14,870 14,543 2.0 2.2 0.4 13,368 13,741 14,516 13,262 176,897 177,595 -0.4

 Aluminum and nonferrous metals.......... 9,907 10,162 10,143 -2.5 0.2 -1.9 9,007 9,653 10,220 9,398 122,949 127,424 -3.5

 Ferrous metal foundries....................... 1,649 1,669 1,684 -1.2 -0.9 3.1 1,371 1,528 1,707 1,366 19,792 18,827 5.1

 Fabricated metal products....................... 36,426 36,334 36,026 0.3 0.9 -0.3 33,363 34,976 37,389 32,703 428,315 426,790 0.4

 Machinery............................................. 37,545 37,870 38,105 -0.9 -0.6 0.0 36,998 35,220 38,374 37,558 452,258 440,059 2.8

 Farm machinery................................. 2,304 2,389 2,688 -3.6 -11.1 -2.7 1,960 1,950 2,712 2,329 30,401 38,291 -20.6

 Construction machinery..................... 4,424 4,424 4,516 0.0 -2.0 2.0 3,940 4,068 4,664 3,771 51,694 44,835 15.3

 Mining, oil field, and 

 gas field machinery.......................... 1,640 1,755 1,734 -6.6 1.2 2.2 1,818 1,761 1,760 1,799 20,673 17,784 16.2

 Industrial machinery.......................... 3,753 3,899 3,682 -3.7 5.9 2.9 4,370 3,486 3,694 4,182 44,209 44,720 -1.1

 Photographic equipment...................... 646 617 635 4.7 -2.8 4.1 711 606 580 724 7,572 7,386 2.5

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............ 5,149 5,173 5,181 -0.5 -0.2 2.8 4,649 4,635 4,982 4,396 59,360 54,778 8.4

 Metalworking machinery..................... 2,646 2,714 2,756 -2.5 -1.5 3.1 2,869 2,731 2,891 3,172 32,728 33,682 -2.8

 Turbines, generators, and other

 power transmission equipment....... 3,900 3,869 3,867 0.8 0.1 -0.2 3,594 3,798 4,023 3,596 46,968 43,383 8.3

 Material handling equipment............... 4,090 4,068 4,146 0.5 -1.9 -2.3 4,131 3,860 4,226 3,910 48,533 43,627 11.2

 Computers and electronic products2.......... 29,671 29,774 29,632 -0.3 0.5 0.1 32,820 30,429 29,992 32,473 352,656 346,248 1.9

 Computers........................................ 922 939 895 -1.8 4.9 5.0 1,015 934 893 854 10,248 9,017 13.7

 Computer storage devices..................... 393 407 417 -3.4 -2.4 1.0 487 392 396 453 4,801 4,260 12.7

 Other peripheral equipment................ 744 752 741 -1.1 1.5 -5.2 933 702 732 978 9,180 7,689 19.4

 Nondefense communications

 equipment.................................... 2,817 2,831 2,825 -0.5 0.2 -1.0 3,793 2,623 2,514 3,979 34,024 34,768 -2.1

 Defense communications equipment.... 197 201 206 -2.0 -2.4 4.0 194 219 211 203 2,432 2,380 2.2

 Audio and video equipment.................... 470 502 505 -6.4 -0.6 -7.8 566 726 645 437 5,985 5,094 17.5

 Electronic components......................... 4,985 4,940 4,868 0.9 1.5 -2.5 5,012 4,884 4,733 4,760 57,557 56,066 2.7

 Nondefense search and navigation

 equipment...................................... 1,635 1,635 1,625 0.0 0.6 0.0 1,772 1,644 1,612 1,784 19,492 19,287 1.1

 Defense search and navigation

 equipment..................................... 3,353 3,415 3,360 -1.8 1.6 1.1 3,647 3,726 3,350 3,561 39,567 37,947 4.3

 Electromedical, measuring,

 and control instruments................. 9,111 9,066 9,076 0.5 -0.1 2.3 10,690 8,834 9,064 10,272 107,043 105,487 1.5

 Electrical equipment, appliances, 

 and components................................... 14,168 14,140 14,167 0.2 -0.2 -0.8 13,700 13,626 14,314 13,378 168,830 157,148 7.4

 Electric lighting equipment..................... 1,325 1,344 1,327 -1.4 1.3 0.2 1,269 1,327 1,359 1,224 15,635 14,537 7.6

 Household appliances........................ 2,380 2,315 2,343 2.8 -1.2 -1.9 2,533 2,277 2,357 2,558 28,234 28,573 -1.2

 Electrical equipment............................ 4,647 4,745 4,756 -2.1 -0.2 1.0 4,430 4,492 4,586 4,291 55,654 48,518 14.7

 Batteries........................................... 1,315 1,297 1,333 1.4 -2.7 -1.3 1,309 1,349 1,513 1,217 15,802 12,065 31.0

 Transportation equipment........................ 89,563 90,254 88,255 -0.8 2.3 -2.3 90,399 90,117 89,119 92,200 1,077,231 1,003,536 7.3

 Automobiles..................................... 9,148 9,393 9,599 -2.6 -2.1 1.1 8,580 9,526 10,050 8,152 109,465 97,840 11.9

 Light trucks and utility vehicles.............. 19,703 19,762 17,893 -0.3 10.4 -10.4 20,531 19,948 18,236 22,977 246,334 242,592 1.5

 Heavy duty trucks ............................. 3,328 3,033 2,988 9.7 1.5 -1.4 2,966 2,892 3,161 2,616 35,643 30,130 18.3

 Motor vehicle bodies, parts, 

 and trailers.................................... 29,125 28,942 28,654 0.6 1.0 -1.5 25,163 28,065 29,808 25,482 346,880 338,068 2.6

 Nondefense aircraft and parts................ 13,199 13,906 13,409 -5.1 3.7 -0.8 17,017 13,763 12,251 15,779 154,127 118,350 30.2

 Defense aircraft and parts.................. 4,850 4,899 4,922 -1.0 -0.5 8.3 5,089 5,259 5,101 5,194 57,250 54,686 4.7

 Ships and boats................................. 3,402 3,582 3,433 -5.0 4.3 3.3 3,397 3,592 3,399 3,727 43,525 42,193 3.2

 Furniture and related products.................. 6,752 6,749 6,734 0.0 0.2 -0.6 6,588 6,664 6,896 6,832 81,558 82,031 -0.6

 Miscellaneous durable goods................. 14,698 14,594 14,413 0.7 1.3 0.4 15,741 14,555 14,668 15,789 173,556 171,764 1.0

 Nondurable goods industries..................... 298,893 297,701 297,729 0.4 0.0 -1.8 286,915 292,678 306,081 289,419 3,559,581 3,650,666 -2.5

 Food products....................................... 80,340 79,906 79,902 0.5 0.0 0.0 78,550 81,330 83,164 78,830 956,090 953,573 0.3

 Grain and oilseed milling....................... 9,777 9,743 9,806 0.3 -0.6 -0.2 9,242 9,743 10,214 9,823 117,845 119,370 -1.3

 Dairy products.................................. 11,673 11,474 11,548 1.7 -0.6 0.5 11,603 11,769 11,880 11,906 138,904 140,798 -1.3

 Meat, poultry, and seafood products... 24,272 24,068 24,019 0.8 0.2 -0.1 23,361 24,189 24,350 23,749 288,341 296,236 -2.7

 Beverage and tobacco products................ 18,423 18,089 18,081 1.8 0.0 -0.5 17,976 17,883 18,353 16,549 211,504 190,122 11.2

 Beverages......................................... 11,191 10,873 10,917 2.9 -0.4 -0.7 10,744 10,667 11,189 10,170 130,146 122,404 6.3

 Tobacco............................................ 7,232 7,216 7,164 0.2 0.7 -0.2 7,232 7,216 7,164 6,379 81,358 67,718 20.1

 Textile mills........................................... 2,074 2,075 2,093 0.0 -0.9 -0.8 1,835 1,962 2,168 1,938 25,266 27,036 -6.5

 Textile products................................... 1,955 1,946 1,982 0.5 -1.8 0.4 1,780 1,842 2,019 1,858 23,873 24,814 -3.8

 Apparel................................................ 807 801 819 0.7 -2.2 -1.3 828 899 931 925 10,065 10,059 0.1

 Leather and allied products...................... 533 527 522 1.1 1.0 11.1 531 499 546 496 5,943 5,512 7.8

 Paper products...................................... 17,308 17,256 17,245 0.3 0.1 0.4 16,488 16,649 17,672 16,675 207,882 206,338 0.7

 Pulp, paper, and paperboard mills....... 6,919 6,883 6,818 0.5 1.0 -0.3 6,691 6,641 6,886 6,692 82,880 80,456 3.0

 Paperboard containers........................ 6,309 6,298 6,373 0.2 -1.2 1.3 5,746 6,078 6,683 5,790 75,632 75,670 -0.1

 Printing................................................. 7,200 7,155 7,160 0.6 -0.1 -1.5 6,980 7,245 7,772 7,307 86,811 86,774 0.0

 Petroleum and coal products.................. 66,440 66,637 67,316 -0.3 -1.0 -7.9 61,867 64,144 70,189 65,702 806,363 930,696 -13.4

 Petroleum refineries.......................... 61,326 61,594 62,297 -0.4 -1.1 -8.5 57,555 59,287 64,604 61,596 747,799 874,330 -14.5

 Chemical products..................................... 78,664 78,342 77,875 0.4 0.6 0.5 77,175 76,443 77,620 76,033 929,822 915,201 1.6

 Pesticides, fertilizers, and other

 agricultural chemicals....................... 4,222 4,214 4,117 0.2 2.4 3.4 4,333 3,977 3,582 4,105 47,646 48,265 -1.3

 Pharmaceuticals and medicines............. 25,487 25,222 25,026 1.1 0.8 1.0 26,240 25,481 25,459 25,088 296,843 276,729 7.3

 Paints, coatings, and adhesives.......... 4,171 4,194 4,220 -0.5 -0.6 -0.5 3,469 3,826 4,267 3,596 49,957 50,018 -0.1

 Plastics and rubber products.................. 25,149 24,967 24,734 0.7 0.9 0.0 22,905 23,782 25,647 23,106 295,962 300,541 -1.5

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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 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

Dec. Nov. Oct. Nov. - Oct. - Sep. - Dec. Nov. Oct. Dec. 2023/

2023p 2023r 2023 Dec. Nov. Oct. 2023p 2023r 2023 2022 2023p 2022 2022

All manufacturing industries2........................ 594,276 593,104 577,946 0.2 2.6 -3.4 587,449 579,193 584,976 579,568 6,995,243 6,940,619 0.8

 Excluding transportation2...................... 487,453 485,275 484,449 0.4 0.2 -1.3 468,348 470,344 493,954 469,004 5,792,451 5,866,401 -1.3

 Excluding defense2.............................. 580,605 578,130 560,254 0.4 3.2 -4.0 568,428 563,056 569,339 556,534 6,799,608 6,759,141 0.6

 With unfilled orders2............................. 214,984 214,959 201,349 0.0 6.8 -6.1 223,334 207,972 197,205 210,651 2,465,098 2,341,543 5.3

 Durable goods industries2......................... 295,383 295,403 280,217 0.0 5.4 -5.1 300,534 286,515 278,895 290,149 3,435,662 3,289,953 4.4

 Primary metals........................................ 27,047 26,695 26,463 1.3 0.9 -0.6 24,781 25,187 26,319 24,642 320,213 323,597 -1.0

 Iron and steel mills.............................. 15,234 14,857 14,728 2.5 0.9 -0.7 13,918 13,872 14,379 13,736 177,813 177,997 -0.1

 Aluminum and nonferrous metals.......... 9,892 10,094 10,008 -2.0 0.9 -0.9 9,129 9,717 10,205 9,467 122,216 126,299 -3.2

 Ferrous metal foundries....................... 1,921 1,744 1,727 10.1 1.0 2.3 1,734 1,598 1,735 1,439 20,184 19,301 4.6

 Fabricated metal products........................ 36,674 36,377 36,386 0.8 0.0 0.1 32,540 33,893 36,399 31,518 428,639 426,749 0.4

 Machinery............................................. 37,399 37,370 37,430 0.1 -0.2 -0.9 36,125 34,345 37,149 36,653 448,203 446,755 0.3

 Construction machinery........................ 4,294 4,382 4,339 -2.0 1.0 1.2 3,948 4,192 4,293 3,765 50,237 44,878 11.9

 Mining, oil field, and

 gas field machinery.......................... 1,654 1,521 1,734 8.7 -12.3 6.8 1,832 1,527 1,760 1,807 20,007 17,860 12.0

 Industrial machinery............................ 3,750 3,823 3,384 -1.9 13.0 1.0 4,074 3,267 3,529 3,904 43,302 46,380 -6.6

 Photographic equipment....................... 580 601 581 -3.5 3.4 27.1 519 473 553 616 7,265 7,605 -4.5

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 5,387 5,130 5,270 5.0 -2.7 -0.6 4,970 4,367 4,908 4,642 59,893 57,667 3.9

 Metalworking machinery....................... 2,562 2,576 2,610 -0.5 -1.3 -0.9 2,646 2,702 2,610 2,756 31,874 33,245 -4.1

 Turbines, generators, and other 

 power transmission equipment........... 3,844 4,041 4,060 -4.9 -0.5 -1.0 3,538 3,970 4,216 3,611 47,821 43,186 10.7

 Material handling equipment.................. 4,102 3,991 3,947 2.8 1.1 -6.3 4,325 3,646 4,013 4,285 48,305 45,829 5.4

 Computers and electronic products2........... 24,948 24,854 24,759 0.4 0.4 0.1 29,626 24,376 24,238 28,564 292,941 285,547 2.6

 Computers........................................ 925 933 887 -0.9 5.2 4.2 1,018 928 885 850 10,237 8,973 14.1

 Nondefense communications

 equipment...................................... 3,194 3,022 2,875 5.7 5.1 -3.0 4,545 2,901 2,531 4,208 34,357 34,754 -1.1

 Defense communications equipment....... 199 203 209 -2.0 -2.9 5.6 208 217 210 205 2,432 2,342 3.8

 Electronic components......................... 4,862 4,864 4,811 0.0 1.1 -2.9 5,122 4,733 4,729 4,951 56,457 56,089 0.7

 Nondefense search and navigation

 equipment...................................... 1,871 1,806 1,711 3.6 5.6 -2.6 1,858 1,713 1,753 1,852 20,942 20,860 0.4

 Defense search and navigation

 equipment...................................... 3,161 3,141 3,285 0.6 -4.4 2.8 4,004 3,058 3,090 3,991 39,463 37,376 5.6

 Electromedical, measuring,

 and control instruments..................... 8,979 9,073 9,167 -1.0 -1.0 2.8 10,730 8,847 9,104 10,486 107,259 106,290 0.9

 Electrical equipment, appliances, 

 and components................................... 14,382 14,180 13,909 1.4 1.9 -2.3 13,644 13,263 14,178 12,980 169,526 160,086 5.9

 Electric lighting equipment..................... 1,324 1,286 1,249 3.0 3.0 -6.2 1,207 1,300 1,341 1,287 15,628 14,994 4.2

 Household appliances.......................... 2,448 2,410 2,422 1.6 -0.5 1.2 2,642 2,392 2,473 2,739 29,203 28,492 2.5

 Electrical equipment............................ 4,833 4,746 4,470 1.8 6.2 -5.0 4,376 4,103 4,428 3,576 55,469 50,439 10.0

 Transportation equipment........................ 106,823 107,829 93,497 -0.9 15.3 -13.4 119,101 108,849 91,022 110,564 1,202,792 1,074,218 12.0

 Motor vehicle bodies, parts, 

 and trailers..................................... 28,975 28,709 28,668 0.9 0.1 -1.9 25,860 28,425 29,369 26,280 347,116 337,104 3.0

 Nondefense aircraft and parts................ 33,211 33,066 17,960 0.4 84.1 -43.9 44,140 33,124 15,610 28,104 274,521 182,503 50.4

 Defense aircraft and parts.................... 4,172 4,296 4,968 -2.9 -13.5 1.2 5,888 5,106 4,125 6,834 62,678 56,180 11.6

 Ships and boats.................................. 2,636 3,197 3,557 -17.5 -10.1 15.0 2,934 3,526 3,210 5,392 42,580 44,744 -4.8

 Furniture and related products................... 6,880 6,881 6,760 0.0 1.8 1.2 6,283 6,882 6,756 6,317 81,025 80,926 0.1

 Nondurable goods industries..................... 298,893 297,701 297,729 0.4 0.0 -1.8 286,915 292,678 306,081 289,419 3,559,581 3,650,666 -2.5

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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRBFY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 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 December

Dec. Nov. Oct. Nov. - Oct. - Sep. - Dec. Nov. Oct. Dec. 2023/

2023p 2023r 2023 Dec. Nov. Oct. 2023p 2023r 2023 2022 2022

All manufacturing industries2...................... 1,393,217 1,375,039 1,357,730 1.3 1.3 0.4 1,393,349 1,364,323 1,347,886 1,270,296 9.7

 Excluding transportation2

...................... 497,586 496,668 496,934 0.2 -0.1 -0.1 489,876 489,552 491,847 492,384 -0.5

 Excluding defense2............................. 1,152,682 1,132,140 1,113,362 1.8 1.7 0.3 1,151,705 1,124,221 1,106,234 1,035,568 11.2

 Durable goods industries2........................ 1,393,217 1,375,039 1,357,730 1.3 1.3 0.4 1,393,349 1,364,323 1,347,886 1,270,296 9.7

 Primary metals........................................ 38,758 38,439 38,445 0.8 0.0 0.2 38,341 37,306 37,041 37,766 1.5

 Iron and steel mills............................... 23,665 23,603 23,616 0.3 -0.1 0.8 23,377 22,827 22,696 22,461 4.1

 Aluminum and nonferrous metals............. 10,072 10,087 10,155 -0.1 -0.7 -1.3 9,976 9,854 9,790 10,709 -6.8

 Ferrous metal foundries........................ 5,021 4,749 4,674 5.7 1.6 0.9 4,988 4,625 4,555 4,596 8.5

 Fabricated metal products......................... 130,098 129,850 129,807 0.2 0.0 0.3 126,748 127,571 128,654 126,424 0.3

 Machinery.............................................. 136,839 136,985 137,485 -0.1 -0.4 -0.5 134,302 135,175 136,050 138,357 -2.9

 Construction machinery......................... 10,165 10,295 10,337 -1.3 -0.4 -1.7 9,930 9,922 9,798 11,387 -12.8

 Mining, oil field, and

 gas field machinery.......................... 4,646 4,632 4,866 0.3 -4.8 0.0 4,646 4,632 4,866 5,312 -12.5

 Industrial machinery............................. 11,327 11,330 11,406 0.0 -0.7 -2.5 10,776 11,072 11,291 11,683 -7.8

 Photographic equipment........................ 3,623 3,689 3,705 -1.8 -0.4 -1.4 3,536 3,728 3,861 3,843 -8.0

 Ventilation, heating, air-conditioning,

 and refrigeration equipment................ 13,989 13,751 13,794 1.7 -0.3 0.6 13,485 13,164 13,432 12,952 4.1

 Metalworking machinery........................ 9,099 9,183 9,321 -0.9 -1.5 -1.5 8,930 9,153 9,182 9,784 -8.7

 Turbines, generators, and other 

 power transmission equipment............ 32,981 33,037 32,865 -0.2 0.5 0.6 32,981 33,037 32,865 32,128 2.7

 Material handling equipment................... 19,052 19,040 19,117 0.1 -0.4 -1.0 19,012 18,818 19,032 19,240 -1.2

 Computers and electronic products2

............. 135,125 134,954 134,939 0.1 0.0 0.1 135,174 133,812 134,279 134,390 0.6

 Computers......................................... 1,272 1,269 1,275 0.2 -0.5 -0.6 1,272 1,269 1,275 1,283 -0.9

 Nondefense communications

 equipment...................................... 17,695 17,318 17,127 2.2 1.1 0.3 17,880 17,128 16,850 17,547 1.9

 Defense communications equipment........ 240 238 236 0.8 0.8 1.3 246 232 234 246 0.0

 Electronic components.......................... 16,333 16,456 16,532 -0.7 -0.5 -0.3 16,411 16,301 16,452 17,511 -6.3

 Nondefense search and navigation

 equipment....................................... 32,009 31,773 31,602 0.7 0.5 0.3 31,829 31,743 31,674 30,379 4.8

 Defense search and navigation

 equipment....................................... 35,423 35,615 35,889 -0.5 -0.8 -0.2 35,419 35,062 35,730 35,523 -0.3

 Electromedical, measuring,

 and control instruments...................... 32,153 32,285 32,278 -0.4 0.0 0.3 32,117 32,077 32,064 31,901 0.7

 Electrical equipment, appliances, 

 and components.................................... 43,957 43,743 43,703 0.5 0.1 -0.6 43,111 43,167 43,530 42,415 1.6

 Electric lighting equipment..................... 3,730 3,731 3,789 0.0 -1.5 -2.0 3,696 3,758 3,785 3,703 -0.2

 Household appliances........................... 5,430 5,362 5,267 1.3 1.8 1.5 5,549 5,440 5,325 4,580 21.2

 Electrical equipment............................. 22,225 22,039 22,038 0.8 0.0 -1.3 21,559 21,613 22,002 21,744 -0.9

 Transportation equipment......................... 895,631 878,371 860,796 2.0 2.0 0.6 903,473 874,771 856,039 777,912 16.1

 Motor vehicle bodies, parts, 

 and trailers...................................... 34,969 35,119 35,352 -0.4 -0.7 0.0 35,177 34,480 34,120 34,941 0.7

 Nondefense aircraft and parts................ 644,664 624,652 605,492 3.2 3.2 0.8 651,109 623,986 604,625 530,715 22.7

 Defense aircraft and parts..................... 72,146 72,824 73,427 -0.9 -0.8 0.1 72,730 71,931 72,084 67,302 8.1

 Ships and boats.................................. 55,212 55,978 56,363 -1.4 -0.7 0.2 54,241 54,704 54,770 55,186 -1.7

 Furniture and related products................... 10,818 10,690 10,558 1.2 1.3 0.2 10,209 10,514 10,296 10,742 -5.0

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

 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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: 

CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 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 December

Dec. Nov. Oct. Nov. - Oct. - Sep. - Dec. Nov. Oct. Dec. 2023/

2023p 2023r 2023 Dec. Nov. Oct. 2023p 2023r 2023 2022 2022

 All manufacturing industries...................... 857,691 856,730 856,465 0.1 0.0 0.0 837,148 854,840 858,484 838,392 -0.1

 Excluding transportation........................ 690,047 690,414 690,633 -0.1 0.0 -0.1 674,841 688,334 690,954 681,311 -0.9

 Excluding defense............................. 827,829 826,980 827,032 0.1 0.0 0.0 807,549 825,052 829,000 810,332 -0.3

 With unfilled orders............................. 426,511 425,036 424,206 0.3 0.2 0.2 417,475 423,522 423,130 411,281 1.5

 Durable goods industries........................ 526,912 525,004 524,397 0.4 0.1 0.2 514,581 523,626 523,795 507,960 1.3

 Wood products........................................ 15,662 15,779 15,900 -0.7 -0.8 -0.2 15,707 15,822 15,818 16,480 -4.7

 Nonmetallic mineral products..................... 17,361 17,304 17,253 0.3 0.3 0.0 17,076 16,885 16,875 16,549 3.2

 Primary metals......................................... 45,530 45,744 46,048 -0.5 -0.7 -0.5 45,088 45,180 45,573 46,468 -3.0

 Iron and steel mills............................... 26,387 26,665 26,815 -1.0 -0.6 -1.2 26,182 26,360 26,561 27,049 -3.2

 Aluminum and nonferrous metals............ 15,920 15,857 16,013 0.4 -1.0 0.7 15,729 15,629 15,834 16,387 -4.0

 Ferrous metal foundries........................ 3,223 3,222 3,220 0.0 0.1 -0.2 3,177 3,191 3,178 3,032 4.8

 Fabricated metal products......................... 64,748 64,768 64,695 0.0 0.1 0.0 63,638 63,932 63,960 63,821 -0.3

 Machinery.............................................. 95,672 95,060 94,877 0.6 0.2 -0.1 93,397 95,256 94,308 90,742 2.9

 Farm machinery.................................. 5,773 5,634 5,522 2.5 2.0 -1.5 5,771 5,532 5,243 5,894 -2.1

 Construction machinery......................... 10,052 9,855 9,807 2.0 0.5 1.0 9,883 9,829 9,717 8,979 10.1

 Mining, oil field, 

 and gas field machinery.................... 5,893 5,879 5,953 0.2 -1.2 0.2 5,644 5,873 6,019 5,366 5.2

 Industrial machinery............................. 11,065 11,103 11,127 -0.3 -0.2 -1.2 11,441 11,302 10,683 11,635 -1.7

 Photographic equipment....................... 1,439 1,439 1,446 0.0 -0.5 -1.0 1,376 1,460 1,462 1,379 -0.2

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 9,848 9,806 9,733 0.4 0.8 0.8 9,202 9,585 9,555 8,604 7.0

 Metalworking machinery........................ 7,559 7,484 7,434 1.0 0.7 0.1 7,439 7,492 7,477 7,174 3.7

 Turbines, generators, and other

 power transmission equipment............ 12,057 12,046 12,137 0.1 -0.7 0.1 11,427 12,141 12,167 11,022 3.7

 Material handling equipment.................. 8,096 8,012 7,925 1.0 1.1 -0.4 7,689 8,189 8,104 7,338 4.8

 Computers and electronic products2............ 55,598 55,427 55,295 0.3 0.2 0.3 54,415 55,804 55,626 54,320 0.2

 Computers......................................... 1,876 1,843 1,822 1.8 1.2 -2.1 1,816 1,859 1,793 2,012 -9.7

 Computer storage devices.................... 644 598 598 7.7 0.0 -1.8 618 626 616 590 4.7

 Other peripheral equipment................... 1,051 1,037 1,029 1.4 0.8 -2.1 1,023 1,049 1,041 999 2.4

 Nondefense communications

 equipment...................................... 4,350 4,378 4,399 -0.6 -0.5 0.0 4,127 4,490 4,498 4,208 -1.9

 Defense communications equipment........ 639 638 635 0.2 0.5 0.0 639 638 635 605 5.6

 Audio and video equipment.................... 643 661 707 -2.7 -6.5 -2.8 588 642 695 779 -24.5

 Electronic components.......................... 10,607 10,726 10,714 -1.1 0.1 1.4 10,485 10,616 10,591 11,274 -7.0

 Nondefense search and navigation

 equipment...................................... 4,299 4,302 4,295 -0.1 0.2 0.3 4,205 4,319 4,382 4,074 3.2

 Defense search and navigation

 equipment....................................... 3,424 3,409 3,377 0.4 0.9 0.5 3,346 3,395 3,342 3,262 2.6

 Electromedical, measuring 

 and control instruments...................... 19,320 19,178 19,143 0.7 0.2 0.0 18,818 19,356 19,242 18,376 2.4

 Electrical equipment, appliances, 

 and components.................................... 26,551 26,487 26,396 0.2 0.3 0.2 25,596 26,020 25,850 25,029 2.3

 Electric lighting equipment..................... 2,434 2,472 2,492 -1.5 -0.8 -1.8 2,381 2,489 2,488 2,508 -5.1

 Household appliances........................... 3,727 3,668 3,584 1.6 2.3 0.8 3,358 3,548 3,559 3,341 0.5

 Electrical equipment............................. 10,062 10,008 10,023 0.5 -0.1 -0.6 9,880 9,875 9,732 9,358 5.6

 Batteries............................................ 2,022 2,001 1,960 1.0 2.1 3.8 1,864 1,859 1,907 1,698 9.8

 Transportation equipment......................... 167,644 166,316 165,832 0.8 0.3 0.6 162,307 166,506 167,530 157,081 3.3

 Automobiles....................................... 5,286 5,440 5,624 -2.8 -3.3 -3.6 4,823 5,518 5,927 5,294 -8.9

 Light trucks and utility vehicles.............. 9,728 9,419 9,624 3.3 -2.1 2.4 8,163 9,686 10,064 7,959 2.6

 Heavy duty trucks ............................... 2,903 2,930 2,934 -0.9 -0.1 -0.8 2,647 2,892 2,939 2,639 0.3

 Motor vehicle bodies, parts, 

 and trailers...................................... 36,446 36,467 36,410 -0.1 0.2 1.4 35,809 36,035 36,253 34,508 3.8

 Nondefense aircraft and parts................ 79,881 78,947 78,327 1.2 0.8 0.7 78,009 79,166 79,281 75,538 3.3

 Defense aircraft and parts..................... 13,982 13,925 14,068 0.4 -1.0 -0.3 13,878 13,957 14,099 13,685 1.4

 Ships and boats.................................. 4,599 4,918 4,710 -6.5 4.4 1.5 4,476 4,953 4,776 4,280 4.6

 Furniture and related products.................... 10,069 10,130 10,201 -0.6 -0.7 0.0 9,858 10,055 10,034 10,412 -5.3

 Miscellaneous durable goods..................... 28,077 27,989 27,900 0.3 0.3 -0.1 27,499 28,166 28,221 27,058 1.6

 Nondurable goods industries...................... 330,779 331,726 332,068 -0.3 -0.1 -0.3 322,567 331,214 334,689 330,432 -2.4

 Food products........................................ 70,541 70,594 70,774 -0.1 -0.3 -0.2 70,540 72,206 74,038 72,083 -2.1

 Grain and oilseed milling........................ 7,434 7,414 7,378 0.3 0.5 -0.9 7,460 7,452 7,494 7,901 -5.6

 Dairy products.................................... 10,667 10,662 10,692 0.0 -0.3 -0.2 10,185 10,160 10,427 10,242 -0.6

 Meat, poultry, and seafood products....... 12,926 12,972 13,069 -0.4 -0.7 -1.0 12,571 13,042 13,404 13,111 -4.1

 Beverage and tobacco products................ 30,590 30,634 30,540 -0.1 0.3 -0.9 30,247 30,889 30,657 30,755 -1.7

 Beverages......................................... 26,997 27,019 26,898 -0.1 0.4 -0.7 26,521 27,097 26,932 26,895 -1.4

 Tobacco............................................ 3,593 3,615 3,642 -0.6 -0.7 -2.1 3,726 3,792 3,725 3,860 -3.5

 Textile mills............................................ 3,518 3,541 3,543 -0.6 -0.1 -0.4 3,495 3,508 3,504 3,664 -4.6

 Textile products...................................... 3,667 3,649 3,628 0.5 0.6 -0.2 3,627 3,656 3,637 3,850 -5.8

 Apparel................................................. 2,162 2,156 2,155 0.3 0.0 0.0 2,044 2,130 2,211 2,177 -6.1

 Leather and allied products....................... 1,276 1,273 1,258 0.2 1.2 -0.6 1,253 1,266 1,246 1,336 -6.2

 Paper products....................................... 17,911 17,889 17,878 0.1 0.1 -0.2 17,687 17,607 17,617 18,155 -2.6

 Pulp, paper, and paperboard mills........... 5,615 5,587 5,569 0.5 0.3 -0.4 5,598 5,504 5,440 5,645 -0.8

 Paperboard containers......................... 6,777 6,752 6,734 0.4 0.3 -0.2 6,725 6,625 6,634 6,897 -2.5

 Printing.................................................. 6,493 6,506 6,457 -0.2 0.8 -2.1 6,370 6,515 6,568 7,018 -9.2

 Petroleum and coal products..................... 48,461 49,461 49,611 -2.0 -0.3 -1.1 44,458 48,475 49,668 46,781 -5.0

 Petroleum refineries............................. 41,964 43,019 43,050 -2.5 -0.1 -1.2 38,105 42,241 43,321 39,926 -4.6

 Chemical products..................................... 112,903 112,774 112,824 0.1 0.0 0.3 110,338 111,990 112,326 110,564 -0.2

 Pesticides, fertilizers, and other

 agricultural chemicals........................ 5,922 6,056 6,147 -2.2 -1.5 0.2 5,907 6,032 5,979 6,021 -1.9

 Pharmaceuticals and medicines.............. 48,803 48,416 47,950 0.8 1.0 0.0 47,604 48,056 47,987 45,308 5.1

 Paints, coatings, and adhesives.............. 5,557 5,539 5,545 0.3 -0.1 -0.8 5,354 5,381 5,413 5,779 -7.4

 Plastics and rubber products..................... 33,257 33,249 33,400 0.0 -0.5 -0.2 32,508 32,972 33,217 34,049 -4.5

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

 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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 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

Dec. Nov. Oct. Nov. - Oct. - Sep. - Dec. Nov. Oct. Dec. 2023/

2023p 2023r 2023 Dec. Nov. Oct. 2023p 2023r 2023 2022 2023p 2022 2022

SHIPMENTS

 All manufacturing industries......................... 580,992 580,730 578,039 0.0 0.5 -1.3 562,979 568,342 591,450 567,488 6,932,689 6,922,110 0.2

 Construction materials and supplies....... 62,778 62,778 62,815 0.0 -0.1 0.2 54,603 59,549 65,962 55,013 747,591 746,751 0.1

 Information technology......................... 24,939 24,955 24,844 -0.1 0.4 0.4 28,122 24,746 24,659 27,486 295,677 288,590 2.5

 Computers and related products........... 2,059 2,098 2,053 -1.9 2.2 0.3 2,435 2,028 2,021 2,285 24,229 20,966 15.6

 Motor vehicle and parts......................... 61,304 61,130 59,134 0.3 3.4 -4.0 57,240 60,431 61,255 59,227 738,322 708,630 4.2

 Capital goods...................................... 96,220 97,231 96,867 -1.0 0.4 0.2 104,508 94,823 95,692 103,756 1,147,664 1,082,026 6.1

 Nondefense capital goods3.................. 82,424 83,055 82,881 -0.8 0.2 -0.2 89,197 79,523 82,150 88,851 985,824 932,445 5.7

 Excluding aircraft............................. 74,087 74,067 74,282 0.0 -0.3 0.0 76,967 70,667 74,842 77,167 886,530 860,039 3.1

 Defense capital goods4........................ 13,796 14,176 13,986 -2.7 1.4 2.6 15,311 15,300 13,542 14,905 161,840 149,581 8.2

 Consumer goods.................................. 246,633 245,893 244,612 0.3 0.5 -3.1 241,294 244,883 252,435 245,349 2,952,992 3,016,466 -2.1

 Consumer durable goods..................... 44,316 44,442 42,703 -0.3 4.1 -4.8 44,748 44,783 43,833 46,963 540,538 525,598 2.8

 Consumer nondurable goods................ 202,317 201,451 201,909 0.4 -0.2 -2.7 196,546 200,100 208,602 198,386 2,412,454 2,490,868 -3.1

 All manufacturing industries5...................... 594,276 593,104 577,946 0.2 2.6 -3.4 587,449 579,193 584,976 579,568 6,995,243 6,940,619 0.8

 Construction materials and supplies....... 63,070 62,661 62,809 0.7 -0.2 -0.2 54,291 58,363 64,634 54,304 746,943 749,246 -0.3

 Information technology......................... 25,128 25,032 24,964 0.4 0.3 1.1 29,133 24,235 24,485 28,390 297,173 291,159 2.1

 Computers and related products........... 2,062 2,092 2,045 -1.4 2.3 0.0 2,438 2,022 2,013 2,281 24,218 20,922 15.8

 Motor vehicle and parts......................... 61,154 60,897 59,148 0.4 3.0 -4.2 57,937 60,791 60,816 60,025 738,558 707,666 4.4

 Capital goods...................................... 113,972 115,358 102,133 -1.2 12.9 -10.1 130,698 112,019 98,120 119,268 1,266,898 1,156,883 9.5

 Nondefense capital goods3.................. 102,872 102,380 86,621 0.5 18.2 -14.2 115,200 98,279 84,429 99,389 1,101,652 1,005,384 9.6

 Excluding aircraft............................. 74,160 74,031 73,396 0.2 0.9 -0.6 76,188 69,976 73,467 75,544 882,463 868,041 1.7

 Defense capital goods4........................ 11,100 12,978 15,512 -14.5 -16.3 23.5 15,498 13,740 13,691 19,879 165,246 151,499 9.1

 Consumer goods.................................. 246,789 246,113 244,652 0.3 0.6 -3.1 241,202 245,206 252,392 245,278 2,953,719 3,015,949 -2.1

 Consumer durable goods..................... 44,472 44,662 42,743 -0.4 4.5 -4.8 44,656 45,106 43,790 46,892 541,265 525,081 3.1

 Consumer nondurable goods.............. 202,317 201,451 201,909 0.4 -0.2 -2.7 196,546 200,100 208,602 198,386 2,412,454 2,490,868 -3.1

 All manufacturing industries5...................... 1,393,217 1,375,039 1,357,730 1.3 1.3 0.4 1,393,349 1,364,323 1,347,886 1,270,296 (X) (X) 9.7

 Construction materials and supplies....... 100,105 99,813 99,930 0.3 -0.1 0.0 97,099 97,411 98,597 97,747 (X) (X) -0.7

 Information technology......................... 134,987 134,798 134,721 0.1 0.1 0.1 134,606 133,595 134,106 133,110 (X) (X) 1.1

 Computers and related products........... 1,272 1,269 1,275 0.2 -0.5 -0.6 1,272 1,269 1,275 1,283 (X) (X) -0.9

 Motor vehicle and parts......................... 34,969 35,119 35,352 -0.4 -0.7 0.0 35,177 34,480 34,120 34,941 (X) (X) 0.7

 Capital goods...................................... 1,050,019 1,032,267 1,014,140 1.7 1.8 0.5 1,053,120 1,026,930 1,009,734 933,886 (X) (X) 12.8

 Nondefense capital goods3.................. 841,877 821,429 802,104 2.5 2.4 0.5 844,472 818,469 799,713 728,644 (X) (X) 15.9

 Excluding aircraft............................. 270,156 270,083 270,119 0.0 0.0 -0.3 266,613 267,392 268,083 270,680 (X) (X) -1.5

 Defense capital goods4........................ 208,142 210,838 212,036 -1.3 -0.6 0.7 208,648 208,461 210,021 205,242 (X) (X) 1.7

 Consumer goods.................................. 12,765 12,609 12,389 1.2 1.8 0.3 12,605 12,697 12,374 11,878 (X) (X) 6.1

 Consumer durable goods..................... 12,765 12,609 12,389 1.2 1.8 0.3 12,605 12,697 12,374 11,878 (X) (X) 6.1 

 All manufacturing industries....................... 857,691 856,730 856,465 0.1 0.0 0.0 837,148 854,840 858,484 838,392 (X) (X) -0.1

 Construction materials and supplies....... 93,007 92,945 92,885 0.1 0.1 0.0 91,269 91,555 91,594 91,482 (X) (X) -0.2

 Information technology......................... 46,153 45,982 45,949 0.4 0.1 0.0 44,839 46,257 46,026 44,583 (X) (X) 0.6

 Computers and related products........... 3,571 3,478 3,449 2.7 0.8 -2.0 3,457 3,534 3,450 3,601 (X) (X) -4.0

 Motor vehicle and parts......................... 54,363 54,256 54,592 0.2 -0.6 0.9 51,442 54,131 55,183 50,400 (X) (X) 2.1

 Capital goods...................................... 254,066 252,417 251,182 0.7 0.5 0.1 248,116 253,397 251,557 241,061 (X) (X) 2.9

 Nondefense capital goods3.................. 229,451 227,883 226,966 0.7 0.4 0.2 223,660 228,857 227,321 217,983 (X) (X) 2.6

 Excluding aircraft............................. 163,734 162,884 162,666 0.5 0.1 -0.1 159,855 163,397 162,087 156,005 (X) (X) 2.5

 Defense capital goods4........................ 24,615 24,534 24,216 0.3 1.3 0.0 24,456 24,540 24,236 23,078 (X) (X) 6.0

 Consumer goods.................................. 254,862 255,417 255,565 -0.2 -0.1 -0.4 246,197 256,299 260,019 250,537 (X) (X) -1.7

 Consumer durable goods..................... 41,586 41,449 41,849 0.3 -1.0 -0.2 38,671 41,760 42,693 40,201 (X) (X) -3.8

 Consumer nondurable goods................ 213,276 213,968 213,716 -0.3 0.1 -0.5 207,526 214,539 217,326 210,336 (X) (X) -1.3

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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 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 December

Dec. Nov. Oct. Nov. - Oct. - Sep. - Dec. Nov. Oct. Dec. 2023/

2023p 2023r 2023 Dec. Nov. Oct. 2023p 2023r 2023 2022 2022

MATERIALS AND SUPPLIES

 All manufacturing industries....................... 314,232 315,456 315,671 -0.4 -0.1 0.1 310,665 314,180 315,951 314,982 -1.4

 Durable goods industries.......................... 196,686 197,150 197,252 -0.2 -0.1 0.0 194,893 196,333 196,780 194,141 0.4

 Wood products................................... 7,505 7,539 7,598 -0.5 -0.8 0.1 7,689 7,682 7,679 7,903 -2.7

 Nonmetallic mineral products................. 7,673 7,657 7,666 0.2 -0.1 -0.5 7,617 7,594 7,604 7,517 1.3

 Primary metals.................................... 18,474 18,584 18,540 -0.6 0.2 -1.0 18,473 18,562 18,567 18,729 -1.4

 Fabricated metal products.......................... 24,166 24,272 24,251 -0.4 0.1 -0.1 24,101 24,054 24,052 24,948 -3.4

 Machinery.......................................... 40,322 40,486 40,446 -0.4 0.1 0.0 39,663 40,400 40,392 39,492 0.4

 Computers and electronic products........ 27,430 27,413 27,083 0.1 1.2 0.3 27,024 27,440 27,146 25,757 4.9

 Electrical equipment, appliances,

 and components............................... 12,861 12,833 12,844 0.2 -0.1 -0.4 12,604 12,596 12,557 12,213 3.2

 Transportation equipment..................... 43,276 43,312 43,744 -0.1 -1.0 0.6 42,913 43,042 43,829 42,832 0.2

 Furniture and related products............... 5,166 5,224 5,271 -1.1 -0.9 -0.6 5,045 5,084 5,078 5,228 -3.5

 Miscellaneous products......................... 9,813 9,830 9,809 -0.2 0.2 0.1 9,764 9,879 9,876 9,522 2.5

 Nondurable goods industries...................... 117,546 118,306 118,419 -0.6 -0.1 0.1 115,772 117,847 119,171 120,841 -4.2

 Food products.................................... 26,349 26,517 26,486 -0.6 0.1 1.9 26,464 26,864 27,364 26,685 -0.8

 Beverage and tobacco products........................ 6,429 6,350 6,243 1.2 1.7 -2.5 6,554 6,438 6,279 6,614 -0.9

 Textiles.............................................. 1,477 1,484 1,476 -0.5 0.5 -0.1 1,479 1,471 1,452 1,458 1.4

 Textile products................................... 1,692 1,696 1,691 -0.2 0.3 0.0 1,680 1,695 1,691 1,718 -2.2

 Apparel............................................. 561 564 567 -0.5 -0.5 0.2 539 557 576 608 -11.3

 Leather and allied products.................... 386 386 377 0.0 2.4 0.0 381 378 369 416 -8.4

 Paper products.................................... 9,265 9,253 9,249 0.1 0.0 -0.2 9,228 9,168 9,145 9,677 -4.6

 Printing ............................................. 3,389 3,371 3,316 0.5 1.7 -2.2 3,374 3,362 3,342 3,762 -10.3

 Petroleum and coal products................. 14,973 15,381 15,152 -2.7 1.5 -0.1 13,662 14,941 15,258 14,422 -5.3

 Chemical products................................ 38,787 39,051 39,371 -0.7 -0.8 -0.1 38,330 38,850 39,278 39,881 -3.9

 Plastics and rubber products.................. 14,238 14,253 14,491 -0.1 -1.6 -0.5 14,081 14,123 14,417 15,600 -9.7

WORK IN PROCESS

 All manufacturing industries....................... 244,597 242,941 242,264 0.7 0.3 -0.1 238,020 243,344 243,560 236,401 0.7

 Durable goods industries.......................... 182,427 180,308 179,176 1.2 0.6 0.6 177,533 180,357 179,643 174,557 1.7

 Wood products................................... 1,788 1,792 1,807 -0.2 -0.8 0.1 1,773 1,789 1,799 2,079 -14.7

 Nonmetallic mineral products................. 1,810 1,789 1,786 1.2 0.2 0.8 1,753 1,714 1,718 1,581 10.9

 Primary metals.................................... 12,254 12,233 12,300 0.2 -0.5 -0.2 11,768 12,070 12,306 12,673 -7.1

 Fabricated metal products.......................... 17,557 17,428 17,335 0.7 0.5 0.3 17,068 17,298 17,250 16,078 6.2

 Machinery.......................................... 24,976 24,457 24,437 2.1 0.1 0.5 23,982 24,590 24,093 23,538 1.9

 Computers and electronic products........ 13,798 13,909 13,923 -0.8 -0.1 1.1 13,550 13,956 13,919 14,127 -4.1

 Electrical equipment, appliances,

 and components............................... 4,613 4,565 4,513 1.1 1.2 -2.3 4,456 4,477 4,444 4,532 -1.7

 Transportation equipment..................... 99,301 97,868 96,855 1.5 1.0 0.8 97,054 98,168 97,831 93,777 3.5

 Furniture and related products............... 1,421 1,406 1,422 1.1 -1.1 1.1 1,415 1,439 1,434 1,532 -7.6

 Miscellaneous products......................... 4,909 4,861 4,798 1.0 1.3 0.2 4,714 4,856 4,849 4,640 1.6

 Nondurable goods industries...................... 62,170 62,633 63,088 -0.7 -0.7 -1.8 60,487 62,987 63,917 61,844 -2.2

 Food products.................................... 6,284 6,341 6,235 -0.9 1.7 -13.3 6,692 7,028 7,025 8,198 -18.4

 Beverage and tobacco products........................ 11,117 11,185 11,228 -0.6 -0.4 -0.6 11,352 11,411 11,433 11,088 2.4

 Textiles.............................................. 558 560 559 -0.4 0.2 0.2 542 558 558 596 -9.1

 Textile products................................... 470 469 470 0.2 -0.2 0.9 459 472 471 476 -3.6

 Apparel............................................. 324 325 314 -0.3 3.5 4.7 304 327 323 264 15.2

 Leather and allied products.................... 139 148 149 -6.1 -0.7 6.4 135 147 147 125 8.0

 Paper products.................................... 1,812 1,790 1,766 1.2 1.4 -0.5 1,767 1,765 1,736 1,590 11.1

 Printing ............................................. 1,138 1,146 1,140 -0.7 0.5 -1.3 1,098 1,176 1,202 1,190 -7.7

 Petroleum and coal products................. 16,885 17,449 17,913 -3.2 -2.6 -0.9 15,296 16,902 17,826 16,170 -5.4

 Chemical products................................ 19,512 19,317 19,407 1.0 -0.5 -0.1 19,011 19,272 19,240 18,338 3.7

 Plastics and rubber products.................. 3,931 3,903 3,907 0.7 -0.1 1.4 3,831 3,929 3,956 3,809 0.6

FINISHED GOODS

 All manufacturing industries....................... 298,862 298,333 298,530 0.2 -0.1 0.0 288,463 297,316 298,973 287,009 0.5

 Durable goods industries.......................... 147,799 147,546 147,969 0.2 -0.3 -0.1 142,155 146,936 147,372 139,262 2.1

 Wood products................................... 6,369 6,448 6,495 -1.2 -0.7 -0.6 6,245 6,351 6,340 6,498 -3.9

 Nonmetallic mineral products................. 7,878 7,858 7,801 0.3 0.7 0.3 7,706 7,577 7,553 7,451 3.4

 Primary metals.................................... 14,802 14,927 15,208 -0.8 -1.8 -0.1 14,847 14,548 14,700 15,066 -1.5

 Fabricated metal products.......................... 23,025 23,068 23,109 -0.2 -0.2 -0.1 22,469 22,580 22,658 22,795 -1.4

 Machinery.......................................... 30,374 30,117 29,994 0.9 0.4 -0.6 29,752 30,266 29,823 27,712 7.4

 Computers and electronic products........ 14,370 14,105 14,289 1.9 -1.3 -0.7 13,841 14,408 14,561 14,436 -4.1

 Electrical equipment, appliances,

 and components............................... 9,077 9,089 9,039 -0.1 0.6 2.4 8,536 8,947 8,849 8,284 3.0

 Transportation equipment..................... 25,067 25,136 25,233 -0.3 -0.4 0.0 22,340 25,296 25,870 20,472 9.1

 Furniture and related products............... 3,482 3,500 3,508 -0.5 -0.2 0.3 3,398 3,532 3,522 3,652 -7.0

 Miscellaneous products......................... 13,355 13,298 13,293 0.4 0.0 -0.4 13,021 13,431 13,496 12,896 1.0

 Nondurable goods industries...................... 151,063 150,787 150,561 0.2 0.2 0.1 146,308 150,380 151,601 147,747 -1.0

 Food products.................................... 37,908 37,736 38,053 0.5 -0.8 0.9 37,384 38,314 39,649 37,200 0.5

 Beverage and tobacco products........................ 13,044 13,099 13,069 -0.4 0.2 -0.4 12,341 13,040 12,945 13,053 -5.5

 Textiles.............................................. 1,483 1,497 1,508 -0.9 -0.7 -0.9 1,474 1,479 1,494 1,610 -8.4

 Textile products................................... 1,505 1,484 1,467 1.4 1.2 -0.9 1,488 1,489 1,475 1,656 -10.1

 Apparel............................................. 1,277 1,267 1,274 0.8 -0.5 -1.2 1,201 1,246 1,312 1,305 -8.0

 Leather and allied products.................... 751 739 732 1.6 1.0 -2.1 737 741 730 795 -7.3

 Paper products.................................... 6,834 6,846 6,863 -0.2 -0.2 -0.2 6,692 6,674 6,736 6,888 -2.8

 Printing ............................................. 1,966 1,989 2,001 -1.2 -0.6 -2.3 1,898 1,977 2,024 2,066 -8.1

 Petroleum and coal products................. 16,603 16,631 16,546 -0.2 0.5 -2.3 15,500 16,632 16,584 16,189 -4.3

 Chemical products................................ 54,604 54,406 54,046 0.4 0.7 0.8 52,997 53,868 53,808 52,345 1.2

 Plastics and rubber products.................. 15,088 15,093 15,002 0.0 0.6 -0.3 14,596 14,920 14,844 14,640 -0.3

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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-

0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 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 Dec Nov Oct Sep Dec Nov Oct Sep

2023p 2023r 2023 2023 2023p 2023r 2023 2023

All manufacturing industries3.................................... 1.48 1.48 1.48 1.46 (X) (X) (X) (X)

Durable goods industries3........................................ 1.87 1.85 1.87 1.85 7.08 6.96 6.91 6.88

 Wood products........................................................... 1.18 1.19 1.20 1.19 (X) (X) (X) (X)

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

 Primary metals............................................................ 1.70 1.71 1.75 1.75 1.45 1.44 1.46 1.45

 Fabricated metal products...................................... 1.78 1.78 1.80 1.79 3.66 3.66 3.70 3.67

 Machinery..................................................................... 2.55 2.51 2.49 2.49 3.99 3.96 3.98 4.01

 Computers and electronic products3

................... 1.87 1.86 1.87 1.86 5.87 5.86 5.90 5.94

 Electrical equipment, appliances,

 and components.................................................... 1.87 1.87 1.86 1.84 3.42 3.41 3.41 3.40

 Transportation equipment..................................... 1.87 1.84 1.88 1.82 15.61 15.13 14.90 14.79

 Furniture and related products............................ 1.49 1.50 1.51 1.51 1.83 1.80 1.78 1.78

 Miscellaneous products.......................................... 1.91 1.92 1.94 1.95 (X) (X) (X) (X)

Nondurable goods industries................................... 1.11 1.11 1.12 1.10 (X) (X) (X) (X)

 Food products............................................................. 0.88 0.88 0.89 0.89 (X) (X) (X) (X)

 Beverage and tobacco products........................... 1.66 1.69 1.69 1.70 (X) (X) (X) (X)

 Textiles.......................................................................... 1.70 1.71 1.69 1.69 (X) (X) (X) (X)

 Textile products......................................................... 1.88 1.88 1.83 1.84 (X) (X) (X) (X)

 Apparel........................................................................ 2.68 2.69 2.63 2.60 (X) (X) (X) (X)

 Leather and allied products................................ 2.39 2.42 2.41 2.69 (X) (X) (X) (X)

 Paper products.......................................................... 1.03 1.04 1.04 1.04 (X) (X) (X) (X)

 Printing........................................................................ 0.90 0.91 0.90 0.91 (X) (X) (X) (X)

 Petroleum and coal products............................... 0.73 0.74 0.74 0.69 (X) (X) (X) (X)

 Chemical products................................................... 1.44 1.44 1.45 1.45 (X) (X) (X) (X)

 Plastics and rubber products................................ 1.32 1.33 1.35 1.35 (X) (X) (X) (X)

Dec3 Dec3 Dec3 Dec3

Industry 2022- 2022- 2022- 2022-

Dec2 Nov Dec2 Nov Dec2 Nov Dec2 Nov

2023 2023 2023 2023 2023 2023 2023 2023

All manufacturing industries.................. (X) 0.2 (X) 0.3 (X) 0.0 (X) 0.1

Durable goods industries....................... 0.0 0.1 0.0 0.4 0.0 0.0 0.0 0.1

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

 Nonmetallic mineral products.............. (X) 0.3 (X) (NA) (X) (NA) (X) 0.2

 Primary metals............................................. -0.1 0.3 -0.1 0.3 0.0 0.1 -0.1 0.2

 Fabricated metal products.................... -0.1 0.2 -0.1 0.3 0.0 0.1 0.0 0.1

 Machinery...................................................... -0.1 0.3 -0.1 0.5 0.0 0.1 0.0 0.1

 Computers and electronic products..... 0.0 0.2 0.0 0.3 0.0 0.0 -0.1 0.1

 Electrical equipment, appliances,

 and components..................................... -0.2 0.2 -0.4 0.8 0.0 0.3 -0.2 0.2

 Transportation equipment.................... 0.0 0.4 0.0 1.1 0.0 0.1 0.0 0.1

 Furniture and related products............. (X) 0.3 (X) 0.8 (X) 0.3 (X) 0.4

 Miscellaneous products.......................... (X) 0.2 (X) 0.2 (X) 0.1 (X) 0.1

Nondurable goods industries................... (X) 0.3 (X) (NA) (X) (NA) (X) 0.1

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

 Beverage and tobacco products............ (X) 0.2 (X) (NA) (X) (NA) (X) 0.2

 Textiles.......................................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.3

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

 Apparel......................................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.5

 Leather and allied products.................. (X) 0.7 (X) (NA) (X) (NA) (X) 0.4

 Paper products............................................ (X) 0.1 (X) (NA) (X) (NA) (X) 0.2

 Printing.......................................................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.5

 Petroleum and coal products............... (X) 0.9 (X) (NA) (X) (NA) (X) 0.5

 Chemical products................................... (X) 0.3 (X) (NA) (X) (NA) (X) 0.1

 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/>. 

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data 

(Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 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/>.

The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential 

source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, December Full Report, February 2, 2024. 

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