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FOR RELEASE AT 8:30 AM EST, THURSDAY, DECEMBER 23, 2021

MONTHLY ADVANCE REPORT ON DURABLE GOODS MANUFACTURERS’ SHIPMENTS, 

INVENTORIES AND ORDERS NOVEMBER 2021

Release Number: CB 21-209 M3-1 (21)-11

Statement Regarding COVID-19 Impact: The Census Bureau continues to monitor response and data 

quality and has determined that estimates in this release meet publication standards. For more 

information, see < M3 COVID-19 FAQs>.

December 23, 2021 — The U.S. Census Bureau announces the November advance report on durable goods 

manufacturers’ shipments, inventories and orders:

New Orders

New orders for manufactured durable goods in November increased $6.5 billion or 2.5 percent to $268.3

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

0.1 percent October increase. Excluding transportation, new orders increased 0.8 percent. Excluding 

defense, new orders increased 2.0 percent. Transportation equipment, up following two consecutive 

monthly decreases, led the increase, $5.0 billion or 6.5 percent to $82.1 billion.

DURABLE GOODS – NEW ORDERS

NOVEMBER 2021 $268.3 billion +2.5%°

OCTOBER 2021

(revised) $261.7 billion +0.1%°

Next release: January 27, 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, December

23, 2021.

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21

DURABLE GOODS NEW ORDERS 2020-2021

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, December 23, 2021.
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Shipments

Shipments of manufactured durable goods in November, up six of the last seven months, increased $1.8

billion or 0.7 percent to $263.6 billion. This followed a 1.7 percent October increase. Transportation 

equipment, up two consecutive months, led the increase, $0.7 billion or 1.0 percent to $76.4 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in November, up ten consecutive months, increased $8.9

billion or 0.7 percent to $1,259.9 billion. This followed a 0.3 percent October increase. Transportation 

equipment, up nine of the last ten months, led the increase, $5.7 billion or 0.7 percent to $831.2 billion.

Inventories

Inventories of manufactured durable goods in November, up ten consecutive months, increased $2.9

billion or 0.6 percent to $469.6 billion. This followed a 0.7 percent October increase. Machinery, up 

thirteen consecutive months, led the increase, $1.0 billion or 1.3 percent to $77.4 billion. 

Capital Goods

Nondefense new orders for capital goods in November increased $3.4 billion or 4.0 percent to $88.6

billion. Shipments increased $0.2 billion or 0.3 percent to $81.1 billion. Unfilled orders increased $7.5

billion or 1.0 percent to $769.3 billion. Inventories increased $1.6 billion or 0.8 percent to $206.0 billion. 

Defense new orders for capital goods in November increased $1.9 billion or 16.0 percent to $14.0 billion. 

Shipments increased $0.1 billion or 0.9 percent to $12.6 billion. Unfilled orders increased $1.3 billion or 

0.7 percent to $191.5 billion. Inventories increased less than $0.1 billion or 0.1 percent to $21.3 billion.

Revised October Data

Revised seasonally adjusted October figures for all manufacturing industries were: new orders, $523.3

billion (revised from $522.1 billion); shipments, $523.4 billion (unchanged); unfilled orders, $1,250.9 billion 

(revised from $1,249.8 billion) and total inventories, $764.6 billion (revised from $764.2 billion).

Revised and more detailed estimates, plus nondurable goods data, will be published on January 6, 2022, at

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

27, 2022 at 8:30 a.m. EST. View the full schedule in the Economic Briefing Room:

<https://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.

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 
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survey documentation can be found on our web site: 

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

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”. 

2022 Release Dates for the M3 Survey

Survey month Advance Report 

(8:30 a.m. release time)

Full Report 

(10:00 a.m. release time)

Nov-21 Thu 12/23/2021 Thu 1/6/2022

Dec-21 Thu 1/27/2022 Thu 2/3/2022

Jan-22 Fri 2/25/2022 Thu 3/3/2022

Feb-22 Thu 3/24/2022 Mon 4/4/2022

Mar-22 Tue 4/26/2022 Tue 5/3/2022

Apr-22 Wed 5/25/2022 Thu 6/2/2022

May-22 Mon 6/27/2022 Tue 7/5/2022

Jun-22 Wed 7/27/2022 Wed 8/3/2022

Jul-22 Wed 8/24/2022 Fri 9/2/2022

Aug-22 Tue 9/27/2022 Tue 10/4/2022

Sep-22 Thu 10/27/2022 Thu 11/3/2022

Oct-22 Wed 11/23/2022 Mon 12/5/2022

Nov-22 Fri 12/23/2022 Not available at this time

OMB: Schedule of Release Dates 2022 (whitehouse.gov)
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RESOURCES

API

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

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

before.

<www.census.gov/developers/>

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

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

2021 2 2021 r 2021 Nov 2 Oct r Sep 2021 2 2021 r 2020 2021 2020 2021/2020

DURABLE GOODS

   Total:               

               Shipments................................ 263,574 261,824 257,492 0.7 1.7 0.6 256,079 265,090 229,015 2,781,662 2,465,101 12.8

               New Orders

4

.............................. 268,251 261,734 261,353 2.5 0.1 ‐0.4 257,188 259,567 222,229 2,803,418 2,308,238 21.5

         Excluding transportation:

               Shipments................................ 187,214 186,204 184,525 0.5 0.9 1.0 180,076 187,925 157,547 1,971,672 1,731,569 13.9

               New Orders

4

.............................. 186,192 184,704 184,082 0.8 0.3 0.7 176,774 184,064 154,876 1,974,794 1,695,180 16.5

         Excluding defense:

               Shipments................................ 248,958 247,266 243,368 0.7 1.6 0.7 240,888 250,778 214,583 2,628,784 2,322,824 13.2

               New Orders

4

.............................. 252,640 247,760 244,522 2.0 1.3 ‐1.8 243,946 247,563 209,285 2,657,823 2,168,313 22.6

    Manufacturing with unfilled orders:

               Shipments................................ 185,849 184,948 182,747 0.5 1.2 1.0 179,700 185,125 154,734 1,945,479 1,718,816 13.2

               New Orders.............................. 194,796 189,194 191,094 3.0 ‐1.0 ‐0.3 185,552 184,685 152,825 2,015,843 1,608,015 25.4

    Primary metals:

               Shipments................................ 24,684 24,692 24,060 0.0 2.6 0.7 23,149 24,466 17,693 252,458 201,275 25.4

               New Orders.............................. 24,527 24,446 24,207 0.3 1.0 1.0 23,201 24,170 18,917 257,482 202,948 26.9

    Fabricated metal products:

               Shipments................................ 36,375 36,171 35,634 0.6 1.5 1.6 34,953 37,101 29,017 377,993 327,156 15.5

               New Orders.............................. 36,688 36,474 36,735 0.6 ‐0.7 0.4 34,027 36,318 29,473 395,779 329,065 20.3

    Machinery:

               Shipments................................ 37,109 37,080 37,189 0.1 ‐0.3 1.5 34,552 36,826 29,741 390,402 341,215 14.4

               New Orders.............................. 38,150 38,549 38,757 ‐1.0 ‐0.5 1.5 35,522 38,068 30,042 406,624 343,847 18.3

    Computers and electronic products

4

:

               Shipments................................ 29,150 29,065 29,178 0.3 ‐0.4 0.6 29,400 28,998 28,809 314,003 297,019 5.7

               New Orders.............................. 26,535 25,513 25,211 4.0 1.2 ‐0.2 25,671 24,593 23,761 270,295 251,939 7.3

         Computers and related products:

               Shipments................................ 1,892 1,936 1,961 ‐2.3 ‐1.3 ‐0.8 1,870 1,879 1,912 21,047 19,097 10.2

               New Orders.............................. 1,849 1,901 1,941 ‐2.7 ‐2.1 ‐1.0 1,827 1,844 1,949 20,904 19,013 9.9

         Communications equipment:

               Shipments................................ 3,525 3,497 3,471 0.8 0.7 0.0 3,358 3,077 3,309 36,779 34,413 6.9

               New Orders.............................. 4,514 4,062 3,662 11.1 10.9 0.1 4,255 3,625 3,426 39,457 34,816 13.3

    Electrical equipment, appliances,    

       and components:                   

               Shipments................................ 12,931 12,878 12,630 0.4 2.0 0.7 12,573 12,949 10,696 136,666 119,521 14.3

               New Orders.............................. 13,313 13,457 13,248 ‐1.1 1.6 1.4 12,846 13,494 11,000 141,923 121,106 17.2

    Transportation equipment:    

               Shipments................................ 76,360 75,620 72,967 1.0 3.6 ‐0.4 76,003 77,165 71,468 809,990 733,532 10.4

               New Orders.............................. 82,059 77,030 77,271 6.5 ‐0.3 ‐2.8 80,414 75,503 67,353 828,624 613,058 35.2

         Motor vehicles and parts:

               Shipments................................ 53,834 52,916 50,310 1.7 5.2 ‐1.7 53,452 55,316 52,773 573,469 521,109 10.0

               New Orders.............................. 53,798 53,257 50,334 1.0 5.8 ‐2.3 53,880 55,022 53,439 576,363 521,376 10.5

         Nondefense aircraft and parts5:

               Shipments................................ 8,013 8,163 8,556 ‐1.8 ‐4.6 7.7 7,798 7,452 4,899 84,147 71,833 17.1

               New Orders.............................. 13,310 9,929 10,351 34.1 ‐4.1 ‐31.2 13,798 8,185 1,395 107,637 ‐46,990 (NA)

         Defense aircraft and parts:

               Shipments................................ 4,734 4,672 4,395 1.3 6.3 ‐3.0 4,845 4,626 4,945 49,355 50,625 ‐2.5

               New Orders.............................. 5,079 4,929 6,046 3.0 ‐18.5 101.1 4,247 3,939 4,261 44,981 45,125 ‐0.3

    All other durable goods:           

               Shipments................................ 46,965 46,318 45,834 1.4 1.1 0.7 45,449 47,585 41,591 500,150 445,383 12.3

               New Orders.............................. 46,979 46,265 45,924 1.5 0.7 0.5 45,507 47,421 41,683 502,691 446,275 12.6

    Capital goods3

:

               Shipments................................ 93,704 93,362 93,151 0.4 0.2 1.5 91,013 91,480 80,662 986,594 871,564 13.2

               New Orders.............................. 102,550 97,222 99,631 5.5 ‐2.4 ‐0.7 97,031 92,875 76,898 1,030,526 763,002 35.1

           Nondefense capital goods:

               Shipments................................ 81,075 80,843 80,921 0.3 ‐0.1 1.8 77,775 79,153 68,142 854,742 750,932 13.8

               New Orders.............................. 88,581 85,179 84,829 4.0 0.4 ‐4.3 85,501 82,452 65,697 902,903 640,819 40.9

               Excluding aircraft:

                    Shipments........................... 76,332 76,079 75,802 0.3 0.4 1.3 73,141 75,260 65,935 805,042 712,328 13.0

                    New Orders.......................... 78,801 78,866 78,190 ‐0.1 0.9 1.4 75,095 77,837 66,588 829,796 719,427 15.3

           Defense capital goods:

               Shipments................................ 12,629 12,519 12,230 0.9 2.4 ‐0.7 13,238 12,327 12,520 131,852 120,632 9.3

               New Orders.............................. 13,969 12,043 14,802 16.0 ‐18.6 26.7 11,530 10,423 11,201 127,623 122,183 4.5

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.   5 (NA) ‐ New Orders year‐to‐date percent change is not provided for Nondefense aircraft and parts because the denominator has a negative value.  

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, November Advance Report, December 23, 2021. Information on data sources and methodology can be found on our website at

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

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

Seasonally Adjusted Not Seasonally Adjusted

Monthly Percent Change Monthly Percent

Item           Change

Nov Oct Sep Oct ‐ Sep ‐ Aug ‐ Nov Oct Nov 2021/

20212 2021r 2021 Nov 2 Oct r Sep 20212 2021r 2020 2020

DURABLE GOODS

   Total:                   

               Unfilled Orders4......................... 1,259,882 1,250,935 1,246,689 0.7 0.3 0.7 1,244,975 1,239,123 1,172,065 6.2

               Total Inventories....................... 469,559 466,643 463,341 0.6 0.7 1.0 470,273 466,631 433,266 8.5

         Excluding transportation:

               Unfilled Orders4

......................... 428,651 425,403 422,567 0.8 0.7 1.0 422,455 421,014 366,863 15.2

               Total Inventories....................... 315,533 312,715 309,007 0.9 1.2 1.3 315,163 311,039 282,417 11.6

         Excluding defense:

               Unfilled Orders4

........................... 1,044,609 1,036,657 1,031,827 0.8 0.5 0.5 1,035,707 1,027,906 957,911 8.1

               Total Inventories....................... 444,534 441,646 438,454 0.7 0.7 1.0 445,311 441,645 409,294 8.8

    Manufacturing with unfilled orders:

               Unfilled Orders......................... 1,259,882 1,250,935 1,246,689 0.7 0.3 0.7 1,244,975 1,239,123 1,172,065 6.2

               Total Inventories....................... 378,671 376,228 373,288 0.6 0.8 1.0 378,899 376,137 351,542 7.8

    Primary metals:

               Unfilled Orders......................... 40,666 40,823 41,069 ‐0.4 ‐0.6 0.4 39,731 39,679 33,509 18.6

               Total Inventories....................... 42,155 41,881 41,123 0.7 1.8 1.4 41,816 41,476 34,193 22.3

    Fabricated metal products:

               Unfilled Orders......................... 104,423 104,110 103,807 0.3 0.3 1.1 102,147 103,073 83,512 22.3

               Total Inventories....................... 61,939 61,138 60,196 1.3 1.6 1.7 61,051 60,496 52,104 17.2

    Machinery:     

               Unfilled Orders......................... 114,962 113,921 112,452 0.9 1.3 1.4 113,658 112,688 96,375 17.9

               Total Inventories....................... 77,441 76,433 75,221 1.3 1.6 1.6 78,429 76,084 70,179 11.8

    Computers and electronic products4

:

               Unfilled Orders......................... 123,856 122,201 121,417 1.4 0.6 0.4 122,639 121,625 116,492 5.3

               Total Inventories....................... 47,665 47,445 47,383 0.5 0.1 0.7 48,040 47,580 46,757 2.7

         Computers and related products:

               Unfilled Orders......................... 1,402 1,445 1,480 ‐3.0 ‐2.4 ‐1.3 1,402 1,445 1,503 ‐6.7

               Total Inventories....................... 3,793 3,785 3,769 0.2 0.4 1.0 3,902 3,776 3,551 9.9

         Communications equipment:

               Unfilled Orders......................... 21,434 20,445 19,880 4.8 2.8 1.0 21,160 20,263 18,317 15.5

               Total Inventories....................... 5,128 5,142 5,125 ‐0.3 0.3 1.0 5,268 5,262 5,212 1.1

    Electrical equipment, appliances,    

        and components:                   

               Unfilled Orders......................... 32,367 31,985 31,406 1.2 1.8 2.0 31,861 31,588 26,234 21.4

               Total Inventories....................... 21,472 21,371 21,189 0.5 0.9 1.4 21,156 21,265 19,502 8.5

    Transportation equipment:    

               Unfilled Orders......................... 831,231 825,532 824,122 0.7 0.2 0.5 822,520 818,109 805,202 2.2

               Total Inventories....................... 154,026 153,928 154,334 0.1 ‐0.3 0.5 155,110 155,592 150,849 2.8

         Motor vehicles and parts:

               Unfilled Orders......................... 28,408 28,444 28,103 ‐0.1 1.2 0.1 27,741 27,313 23,815 16.5

               Total Inventories....................... 49,633 49,823 50,083 ‐0.4 ‐0.5 1.5 49,617 50,188 41,408 19.8

         Nondefense Aircraft and parts:

               Unfilled Orders......................... 605,003 599,706 597,940 0.9 0.3 0.3 602,250 596,250 582,669 3.4

               Total Inventories....................... 76,210 76,031 76,259 0.2 ‐0.3 ‐0.2 77,325 77,228 82,701 ‐6.5

         Defense Aircraft and parts:       

               Unfilled Orders......................... 81,809 81,464 81,207 0.4 0.3 2.1 79,607 80,205 82,912 ‐4.0

               Total Inventories....................... 12,630 12,555 12,548 0.6 0.1 0.7 12,653 12,589 12,226 3.5

    All other durable goods:           

               Unfilled Orders......................... 12,377 12,363 12,416 0.1 ‐0.4 0.7 12,419 12,361 10,741 15.6

               Total Inventories....................... 64,861 64,447 63,895 0.6 0.9 0.8 64,671 64,138 59,682 8.4

    Capital goods3

:

               Unfilled Orders......................... 960,760 951,914 948,054 0.9 0.4 0.7 950,385 944,367 908,688 4.6

               Total Inventories....................... 227,241 225,616 224,237 0.7 0.6 0.7 229,458 226,594 221,327 3.7

           Nondefense capital goods:

               Unfilled Orders......................... 769,290 761,784 757,448 1.0 0.6 0.5 764,886 757,160 721,286 6.0

               Total Inventories....................... 205,956 204,349 203,076 0.8 0.6 0.8 208,259 205,372 201,067 3.6

                Excluding aircraft:               

                    Unfilled Orders.................... 241,112 238,643 235,856 1.0 1.2 1.0 238,664 236,710 213,181 12.0

                    Total Inventories................... 139,917 138,507 137,024 1.0 1.1 1.2 141,127 138,309 129,320 9.1

           Defense capital goods:

               Unfilled Orders......................... 191,470 190,130 190,606 0.7 ‐0.2 1.4 185,499 187,207 187,402 ‐1.0

               Total Inventories....................... 21,285 21,267 21,161 0.1 0.5 0.5 21,199 21,222 20,260 4.6

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

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

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

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

2 Based on advance sample. Estimates of manufacturers' shipments, inventories, and orders are subject to survey error and revision. One major component of survey error is nonsampling error, which includes errors of

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

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

3 The Capital Goods Industries include Nondefense : small arms and ordnance; farm machinery and equipment; construction machinery; mining, oil, and gas field machinery; industrial machinery; vending, laundry, and other

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

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

electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and boats; office and institutional furniture; and medical equipment and supplies. Defense Capital Goods include :

small arms and ordnance, communications equipment, aircraft; missiles, space vehicles, and parts, ships and boats, and search and navigation equipment.   

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

new orders and unfilled orders exclude semiconductor industry data.   

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, November Advance Report, December 23, 2021. 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>.