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FOR RELEASE AT 10:00 AM EST, THURSDAY, MARCH 5, 2020

MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS

JANUARY 2020

Release Number: CB 20‐32 M3‐2 (20)‐01

March 5, 2020 — The U.S. Census Bureau announces the January full report on manufacturers’ shipments,

inventories and orders:

MANUFACTURED GOODS – NEW ORDERS

JANUARY 2020 $497.9 billion            ‐0.5%°

DECEMBER 2019  

(revised) $500.2 billion            +1.9%°

Next release: April 2, 2020 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, March 5, 2020.

Summary

New orders for manufactured goods in January, down two of the last three months, decreased $2.3 billion

or 0.5 percent to $497.9 billion, the U.S. Census Bureau reported today.  This followed a 1.9 percent

December increase.  Shipments, down following three consecutive monthly increases, decreased $2.3

billion or 0.5 percent to $501.8 billion.  This followed a 0.5 percent December increase.  Unfilled orders, up

three of the last four months, increased $0.1 billion or virtually unchanged to $1,157.0 billion.  This

followed a virtually unchanged December increase.  The unfilled orders‐to‐shipments ratio was 6.63, down

from 6.65 in December.  Inventories, down following four consecutive monthly increases, decreased $0.5

billion or 0.1 percent to $703.4 billion.  This followed a 0.4 percent December increase.  The inventories‐

to‐shipments ratio was 1.40, unchanged from December.

New Orders

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

$0.4 billion or 0.2 percent to $246.0 billion, unchanged from the previously published decrease.  This

followed a 2.8 percent December increase.  Transportation equipment, down four of the last five months,

Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19 Jul‐19 Aug‐19 Sep‐19 Oct‐19 Nov‐19 Dec‐19 Jan‐20

% Change ‐1.0% 1.3% ‐1.2% ‐1.3% 0.5% 1.4% ‐0.1% ‐0.8% 0.2% ‐1.2% 1.9% ‐0.5%

‐4.0%

‐3.0%

‐2.0%

‐1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

MANUFACTURERS' NEW ORDERS 2019‐2020

Seasonally Adjusted,   Month‐To‐Month Percentage Change

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

March 5, 2020.
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drove the decrease, $1.7 billion or 2.1 percent to $82.2 billion.  New orders for manufactured nondurable

goods decreased $1.9 billion or 0.8 percent to $251.9 billion.

Shipments

Shipments of manufactured durable goods in January, down seven consecutive months, decreased $0.4

billion or 0.2 percent to $249.9 billion, unchanged from the previously published decrease.  This followed a

0.2 percent December decrease.  Transportation equipment, also down seven consecutive months, drove

the decrease, $1.2 billion or 1.4 percent to $82.3 billion.  Shipments of manufactured nondurable goods,

down following three consecutive monthly increases, decreased $1.9 billion or 0.8 percent to $251.9

billion.  This followed a 1.1 percent December increase.  Petroleum and coal products, down following four

consecutive monthly increases, drove the decrease, $2.1 billion or 3.8 percent to $53.9 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in January, up three of the last four months, increased

$0.1 billion or virtually unchanged to $1,157.0 billion, unchanged from the previously published increase.  

This followed a virtually unchanged December increase.  Fabricated metal products, up following four

consecutive monthly decreases, drove the increase, $0.2 billion or 0.2 percent to $86.1 billion.

Inventories

Inventories of manufactured durable goods in January, down following sixteen consecutive monthly

increases, decreased less than $0.1 billion or virtually unchanged to $435.3 billion, down from the

previously published virtually unchanged increase.  This followed a 0.3 percent December increase.  

Machinery, down six consecutive months, drove the decrease, $0.5 billion or 0.7 percent to $71.0 billion.  

Inventories of manufactured nondurable goods, down following two consecutive monthly increases,

decreased $0.5 billion or 0.2 percent to $268.1 billion.  This followed a 0.4 percent December increase.  

Chemical products, down six of the last seven months, drove the decrease, $0.6 billion or 0.7 percent to

$89.8 billion.  By stage of fabrication, January materials and supplies decreased 0.1 percent in durable

goods and increased 0.4 percent in nondurable goods.  Work in process increased 0.3 percent in durable

goods and decreased 1.1 percent in nondurable goods.  Finished goods decreased 0.2 percent in both

durable and nondurable goods.  

The Advance Report on durable goods for February is scheduled for release on March 25, 2020 at 8:30

a.m. EDT and the Full Report on April 2, 2020 at 10:00 a.m. EDT.  View the full schedule in the Economic

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

found at <www.census.gov/m3>.
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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‐in‐

process, and finished goods).  Data published from the M3 survey are based on a panel of approximately

5,000 reporting units that represent approximately 3,100 companies and provide an indication of month‐

to‐month change for the Manufacturing Sector.  These reporting units may be divisions of diversified large

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

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

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

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

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

approximately 64 percent of the total value of shipments for manufacturing establishments in the 2012

Economic Census, and these companies include almost two‐thirds of the manufacturing companies with

$500 million or more in shipments in the 2012 Economic Census.  The companies for which shipments data

are currently reported in the M3 survey represent approximately 57 percent of the total value of

shipments for manufacturing establishments in the 2012 Economic Census.  Statistics based on the M3

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

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

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

sources.  The use of company or divisional reports to estimate the monthly change for establishments is

one source of nonsampling error.  The use of primarily large companies to represent the month‐to‐month

movement of all companies is another potential source.  Any corrections will be published in the full

report.  Corrections received after the full report will be released in the next month’s advance report.  Any  
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revisions made later than two months will be reflected in the annual benchmark publication.  Additional

survey documentation can be found on our web site:  

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

BENCHMARK NOTICE

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

issued on May 15, 2020.  These revisions result from

• benchmarking the M3 shipments and inventories data to the 2017 Economic Census data on a

2017 NAICS basis;

• incorporating the unfilled orders to shipments ratios obtained for 2017 and 2016 from the

Manufacturers’ Unfilled Orders (M3UFO) Survey by applying these ratios to the respective 2017

Economic Census data and 2016 ASM shipments data;

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

orders data;

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

previously reported data;

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

annual review of the seasonal adjustment models.   

These revisions will span the seasonally adjusted data for January 2007 through March 2020 and the data

not seasonally adjusted for January 2012 through March 2020.  An updated Press Release will contain

revised monthly tables for January 2020 through March 2020.  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/>.
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FRED Mobile App

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

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

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

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

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

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

Industry % Change

Jan. Dec. Nov. Dec. ‐ Nov. ‐ Oct. ‐ Jan. Dec. Nov. Jan. 2020/

2020p 2019r 2019 Jan. Dec. Nov. 2020p 2019r 2019 2019 2020p 2019 2019

  All manufacturing industries.................. 501,825 504,166 501,823 ‐0.5 0.5 0.3 467,209 493,310 485,404 466,970 467,209 466,970 0.1

      Excluding transportation................... 419,503 420,667 418,229 ‐0.3 0.6 0.4 392,885 411,952 403,949 387,462 392,885 387,462 1.4

      Excluding defense.............................. 486,664 489,930 487,204 ‐0.7 0.6 0.3 454,523 477,547 469,906 454,569 454,523 454,569 0.0

      With unfilled orders............................ 174,511 173,980 173,649 0.3 0.2 ‐0.3 158,885 173,801 166,345 161,727 158,885 161,727 ‐1.8

  Durable goods industries......................... 249,915 250,345 250,832 ‐0.2 ‐0.2 ‐0.2 227,950 245,835 240,700 233,379 227,950 233,379 ‐2.3

  Wood products....................................... 9,438 9,356 9,391 0.9 ‐0.4 1.3 8,189 8,225 8,695 7,805 8,189 7,805 4.9

  Nonmetallic mineral products.................... 11,405 11,322 11,213 0.7 1.0 ‐0.6 10,093 9,737 10,667 9,803 10,093 9,803 3.0

  Primary metals....................................... 20,052 19,866 19,858 0.9 0.0 ‐0.9 19,781 17,835 18,408 20,974 19,781 20,974 ‐5.7

      Iron and steel mills............................ 10,168 9,815 9,756 3.6 0.6 ‐0.9 10,039 8,690 9,006 10,771 10,039 10,771 ‐6.8

      Aluminum and nonferrous metals.......... 8,424 8,669 8,652 ‐2.8 0.2 ‐0.7 8,364 7,925 8,105 8,811 8,364 8,811 ‐5.1

      Ferrous metal foundries....................... 1,460 1,382 1,450 5.6 ‐4.7 ‐2.2 1,378 1,220 1,297 1,392 1,378 1,392 ‐1.0

  Fabricated metal products....................... 33,695 33,530 33,859 0.5 ‐1.0 0.1 31,675 31,151 32,073 31,599 31,675 31,599 0.2

  Machinery............................................. 32,724 32,528 32,563 0.6 ‐0.1 ‐1.4 29,444 33,089 29,915 29,874 29,444 29,874 ‐1.4

      Farm machinery................................. 2,508 2,449 2,486 2.4 ‐1.5 0.8 2,227 2,140 1,880 2,331 2,227 2,331 ‐4.5

      Construction machinery..................... 2,928 2,630 2,694 11.3 ‐2.4 ‐4.5 2,577 2,496 2,473 2,658 2,577 2,658 ‐3.0

      Mining, oil field, and

          gas field machinery.......................... 1,446 1,413 1,353 2.3 4.4 ‐6.8 1,360 1,626 1,370 1,354 1,360 1,354 0.4

      Industrial machinery.......................... 3,243 3,138 3,195 3.3 ‐1.8 5.5 2,649 3,655 2,902 2,132 2,649 2,132 24.2

      Photographic equipment...................... 558 546 577 2.2 ‐5.4 5.1 474 595 552 473 474 473 0.2

      Ventilation, heating, air‐conditioning,

          and refrigeration equipment............ 3,793 3,986 4,024 ‐4.8 ‐0.9 ‐1.7 3,126 3,789 3,512 3,292 3,126 3,292 ‐5.0

      Metalworking machinery..................... 2,482 2,558 2,509 ‐3.0 2.0 ‐0.8 2,276 2,868 2,423 2,444 2,276 2,444 ‐6.9

      Turbines, generators, and other

          power transmission equipment....... 4,234 4,256 4,207 ‐0.5 1.2 ‐7.0 4,018 4,029 4,175 4,132 4,018 4,132 ‐2.8

      Material handling equipment............... 2,838 2,826 2,782 0.4 1.6 ‐0.6 2,667 2,934 2,602 2,677 2,667 2,677 ‐0.4

  Computers and electronic products

2

.......... 27,936 27,855 27,887 0.3 ‐0.1 0.3 24,785 31,575 27,884 24,653 24,785 24,653 0.5

      Computers........................................ 569 551 550 3.3 0.2 1.3 474 665 515 548 474 548 ‐13.5

      Computer storage devices..................... 441 400 482 10.3 ‐17.0 22.0 316 610 438 212 316 212 49.1

      Other peripheral equipment................ 848 815 861 4.0 ‐5.3 5.6 720 1,083 790 647 720 647 11.3

      Nondefense communications

          equipment.................................... 3,648 3,672 3,569 ‐0.7 2.9 ‐0.4 2,880 5,022 3,245 2,727 2,880 2,727 5.6

      Defense communications equipment.... 259 314 247 ‐17.5 27.1 3.8 222 306 267 279 222 279 ‐20.4

      Audio and video equipment.................... 245 269 260 ‐8.9 3.5 ‐14.8 177 384 336 240 177 240 ‐26.3

      Electronic components......................... 3,890 3,803 3,772 2.3 0.8 3.9 3,459 3,871 3,541 3,163 3,459 3,163 9.4

      Nondefense search and navigation

          equipment...................................... 1,564 1,549 1,545 1.0 0.3 ‐0.3 1,336 1,725 1,495 1,390 1,336 1,390 ‐3.9

      Defense search and navigation

          equipment..................................... 2,884 2,895 2,954 ‐0.4 ‐2.0 2.5 2,350 3,240 3,129 2,284 2,350 2,284 2.9

      Electromedical, measuring,

          and control instruments................. 9,018 8,909 8,929 1.2 ‐0.2 ‐2.5 7,656 10,429 8,785 7,994 7,656 7,994 ‐4.2

  Electrical equipment, appliances,        

    and components................................... 11,618 11,802 11,776 ‐1.6 0.2 2.3 10,384 11,625 11,324 10,318 10,384 10,318 0.6

      Electric lighting equipment..................... 1,065 1,045 1,038 1.9 0.7 ‐1.7 956 1,048 1,038 919 956 919 4.0

      Household appliances........................ 1,713 1,818 1,773 ‐5.8 2.5 5.0 1,420 1,931 1,793 1,525 1,420 1,525 ‐6.9

      Electrical equipment............................ 3,064 3,046 3,102 0.6 ‐1.8 ‐1.1 2,690 2,955 2,844 2,729 2,690 2,729 ‐1.4

      Batteries........................................... 874 913 916 ‐4.3 ‐0.3 3.7 762 966 1,007 746 762 746 2.1

  Transportation equipment........................ 82,322 83,499 83,594 ‐1.4 ‐0.1 ‐0.2 74,324 81,358 81,455 79,508 74,324 79,508 ‐6.5

      Automobiles..................................... 7,873 7,512 7,973 4.8 ‐5.8 ‐1.4 7,647 6,871 8,046 8,513 7,647 8,513 ‐10.2

      Light trucks and utility vehicles.............. 19,298 20,735 20,732 ‐6.9 0.0 1.0 17,095 19,654 19,843 19,247 17,095 19,247 ‐11.2

      Heavy duty trucks ............................. 2,716 2,695 2,766 0.8 ‐2.6 ‐2.1 2,447 2,300 2,565 2,854 2,447 2,854 ‐14.3

      Motor vehicle bodies, parts,       

          and trailers.................................... 29,121 28,304 27,815 2.9 1.8 1.5 27,833 24,549 26,358 26,282 27,833 26,282 5.9

      Nondefense aircraft and parts................ 7,805 9,849 9,379 ‐20.8 5.0 ‐6.4 6,173 12,603 9,263 10,265 6,173 10,265 ‐39.9

      Defense aircraft and parts.................. 4,722 3,781 4,126 24.9 ‐8.4 ‐5.3 3,605 4,520 4,256 3,987 3,605 3,987 ‐9.6

      Ships and boats................................. 2,847 2,661 2,792 7.0 ‐4.7 ‐1.5 2,293 2,720 2,940 2,233 2,293 2,233 2.7

  Furniture and related products.................. 7,001 6,842 6,909 2.3 ‐1.0 0.6 6,547 6,698 6,787 6,207 6,547 6,207 5.5

  Miscellaneous durable goods................. 13,724 13,745 13,782 ‐0.2 ‐0.3 ‐1.2 12,728 14,542 13,492 12,638 12,728 12,638 0.7

  Nondurable goods industries..................... 251,910 253,821 250,991 ‐0.8 1.1 0.7 239,259 247,475 244,704 233,591 239,259 233,591 2.4

  Food products....................................... 68,327 68,163 68,249 0.2 ‐0.1 0.4 65,677 67,897 69,672 64,838 65,677 64,838 1.3

      Grain and oilseed milling....................... 7,191 7,135 7,002 0.8 1.9 ‐2.5 7,107 7,171 7,239 7,437 7,107 7,437 ‐4.4

      Dairy products.................................. 9,753 9,662 9,563 0.9 1.0 ‐0.1 9,454 9,665 9,947 9,003 9,454 9,003 5.0

      Meat, poultry, and seafood products... 19,315 19,362 19,557 ‐0.2 ‐1.0 0.9 18,207 18,789 19,540 18,433 18,207 18,433 ‐1.2

  Beverage and tobacco products................ 12,464 12,480 12,140 ‐0.1 2.8 ‐3.8 11,434 12,130 11,970 11,621 11,434 11,621 ‐1.6

      Beverages......................................... 8,871 8,937 8,853 ‐0.7 0.9 ‐0.1 7,841 8,587 8,683 7,683 7,841 7,683 2.1

      Tobacco............................................ 3,593 3,543 3,287 1.4 7.8 ‐12.4 3,593 3,543 3,287 3,938 3,593 3,938 ‐8.8

  Textile mills........................................... 2,377 2,408 2,409 ‐1.3 0.0 ‐1.0 2,198 2,116 2,278 2,302 2,198 2,302 ‐4.5

  Textile products................................... 2,123 2,203 2,240 ‐3.6 ‐1.7 ‐0.8 1,924 1,983 2,183 2,087 1,924 2,087 ‐7.8

  Apparel................................................ 967 973 945 ‐0.6 3.0 ‐1.2 900 945 1,057 894 900 894 0.7

  Leather and allied products...................... 410 421 405 ‐2.6 4.0 ‐1.2 385 410 376 402 385 402 ‐4.2

  Paper products...................................... 16,306 16,271 16,127 0.2 0.9 0.1 16,172 15,777 15,562 15,984 16,172 15,984 1.2

      Pulp, paper, and paperboard mills....... 6,587 6,567 6,508 0.3 0.9 ‐0.5 6,590 6,467 6,276 6,491 6,590 6,491 1.5

      Paperboard containers........................ 5,730 5,759 5,677 ‐0.5 1.4 0.1 5,743 5,329 5,432 5,660 5,743 5,660 1.5

  Printing................................................. 7,132 7,072 6,967 0.8 1.5 0.2 6,936 6,957 7,041 6,479 6,936 6,479 7.1

  Petroleum and coal products.................. 53,917 56,039 53,834 ‐3.8 4.1 3.3 49,922 53,715 51,605 46,572 49,922 46,572 7.2

      Petroleum refineries.......................... 49,212 51,558 49,397 ‐4.6 4.4 3.3 46,128 50,018 47,563 43,125 46,128 43,125 7.0

  Chemical products..................................... 68,035 67,956 67,816 0.1 0.2 0.3 64,895 67,373 64,394 63,648 64,895 63,648 2.0

      Pesticides, fertilizers, and other

          agricultural chemicals....................... 2,632 2,652 2,628 ‐0.8 0.9 2.7 2,249 2,461 2,073 2,374 2,249 2,374 ‐5.3

      Pharmaceuticals and medicines............. 23,791 23,695 23,906 0.4 ‐0.9 0.2 23,077 24,557 23,426 21,622 23,077 21,622 6.7

      Paints, coatings, and adhesives.......... 3,900 3,991 3,891 ‐2.3 2.6 1.1 3,502 3,296 3,333 3,499 3,502 3,499 0.1

  Plastics and rubber products.................. 19,852 19,835 19,859 0.1 ‐0.1 0.5 18,816 18,172 18,566 18,764 18,816 18,764 0.3

Year to date

p Preliminary

r

Revised data due to late receipts and concurrent seasonal adjustment.   1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted

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

model parameters. Estimates are not adjusted for price changes.         2 Estimates and percent changes of shipments for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals.  

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020.  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

Jan. Dec. Nov. Dec. ‐ Nov. ‐ Oct. ‐ Jan. Dec. Nov. Jan. 2020/

2020p 2019r 2019 Jan. Dec. Nov. 2020p 2019r 2019 2019 2020p 2019 2019

All manufacturing industries2........................ 497,909 500,196 490,709 ‐0.5 1.9 ‐1.2 465,186 495,544 474,402 465,038 465,186 465,038 0.0

      Excluding transportation2...................... 415,735 416,278 413,603 ‐0.1 0.6 0.2 392,460 406,540 397,618 387,135 392,460 387,135 1.4

      Excluding defense2.............................. 484,008 477,695 479,452 1.3 ‐0.4 0.1 454,809 469,151 462,971 454,659 454,809 454,659 0.0

      With unfilled orders2

............................. 174,611 174,167 166,755 0.3 4.4 ‐4.5 161,491 179,779 160,167 164,590 161,491 164,590 ‐1.9

  Durable goods industries2......................... 245,999 246,375 239,718 ‐0.2 2.8 ‐3.1 225,927 248,069 229,698 231,447 225,927 231,447 ‐2.4

  Primary metals........................................ 20,174 19,760 19,786 2.1 ‐0.1 ‐1.7 20,124 18,153 18,957 21,257 20,124 21,257 ‐5.3

      Iron and steel mills.............................. 10,206 9,726 9,708 4.9 0.2 ‐3.2 10,154 8,937 9,359 10,660 10,154 10,660 ‐4.7

      Aluminum and nonferrous metals.......... 8,523 8,663 8,649 ‐1.6 0.2 0.1 8,505 7,988 8,310 9,018 8,505 9,018 ‐5.7

      Ferrous metal foundries....................... 1,445 1,371 1,429 5.4 ‐4.1 ‐1.6 1,465 1,228 1,288 1,579 1,465 1,579 ‐7.2

  Fabricated metal products........................ 33,871 33,499 33,399 1.1 0.3 ‐0.9 32,709 30,416 31,029 33,165 32,709 33,165 ‐1.4

  Machinery............................................. 32,637 31,954 32,520 2.1 ‐1.7 ‐1.2 31,086 31,877 29,505 31,586 31,086 31,586 ‐1.6

      Construction machinery........................ 2,933 2,629 2,508 11.6 4.8 ‐8.0 2,872 2,506 2,354 2,855 2,872 2,855 0.6

      Mining, oil field, and

          gas field machinery.......................... 1,360 1,312 1,355 3.7 ‐3.2 ‐5.4 1,274 1,525 1,372 1,268 1,274 1,268 0.5

      Industrial machinery............................ 3,375 3,193 3,166 5.7 0.9 4.6 3,148 3,475 2,761 2,493 3,148 2,493 26.3

      Photographic equipment....................... 544 514 502 5.8 2.4 ‐1.4 473 598 475 454 473 454 4.2

      Ventilation, heating, air‐conditioning,

          and refrigeration equipment............... 3,809 3,838 4,038 ‐0.8 ‐5.0 ‐1.1 3,381 3,688 3,421 4,146 3,381 4,146 ‐18.5

      Metalworking machinery....................... 2,387 2,423 2,464 ‐1.5 ‐1.7 ‐1.1 2,361 2,557 2,410 2,521 2,361 2,521 ‐6.3

      Turbines, generators, and other        

          power transmission equipment........... 4,157 3,891 4,141 6.8 ‐6.0 ‐8.0 3,941 3,664 4,109 4,040 3,941 4,040 ‐2.5

      Material handling equipment.................. 2,866 2,978 2,901 ‐3.8 2.7 ‐0.5 2,739 3,377 2,576 2,690 2,739 2,690 1.8

  Computers and electronic products2........... 23,807 23,844 23,577 ‐0.2 1.1 ‐0.1 20,643 28,276 22,420 20,240 20,643 20,240 2.0

      Computers........................................ 566 552 587 2.5 ‐6.0 2.4 471 666 552 588 471 588 ‐19.9

      Nondefense communications

          equipment...................................... 3,580 3,682 3,608 ‐2.8 2.1 2.5 2,921 4,992 3,205 2,700 2,921 2,700 8.2

      Defense communications equipment....... 291 426 204 ‐31.7 108.8 10.3 234 414 206 213 234 213 9.9

      Electronic components......................... 3,893 3,749 3,898 3.8 ‐3.8 1.7 3,722 3,943 3,642 3,469 3,722 3,469 7.3

      Nondefense search and navigation

          equipment...................................... 1,580 1,745 1,605 ‐9.5 8.7 1.8 1,481 1,550 1,570 1,543 1,481 1,543 ‐4.0

      Defense search and navigation

          equipment...................................... 2,814 2,821 2,706 ‐0.2 4.2 ‐2.4 2,157 3,694 2,481 2,157 2,157 2,157 0.0

      Electromedical, measuring,

          and control instruments..................... 8,995 8,864 8,868 1.5 0.0 ‐3.0 7,878 10,444 8,681 8,097 7,878 8,097 ‐2.7

  Electrical equipment, appliances,        

    and components................................... 11,748 11,879 11,912 ‐1.1 ‐0.3 2.1 10,938 11,451 11,320 10,675 10,938 10,675 2.5

      Electric lighting equipment..................... 1,071 1,115 1,086 ‐3.9 2.7 ‐4.3 1,010 1,051 1,070 960 1,010 960 5.2

      Household appliances.......................... 1,733 1,848 1,845 ‐6.2 0.2 7.0 1,509 1,913 1,821 1,496 1,509 1,496 0.9

      Electrical equipment............................ 3,106 3,045 3,100 2.0 ‐1.8 1.8 2,894 2,927 2,815 2,972 2,894 2,972 ‐2.6

  Transportation equipment........................ 82,174 83,918 77,106 ‐2.1 8.8 ‐8.2 72,726 89,004 76,784 77,903 72,726 77,903 ‐6.6

      Motor vehicle bodies, parts,       

          and trailers..................................... 29,322 28,557 28,001 2.7 2.0 3.4 28,194 25,720 26,925 26,547 28,194 26,547 6.2

      Nondefense aircraft and parts................ 8,518 1,909 5,736 346.2 ‐66.7 ‐28.4 6,210 9,045 7,240 10,677 6,210 10,677 ‐41.8

      Defense aircraft and parts.................... 4,705 5,854 2,194 ‐19.6 166.8 ‐69.1 2,712 8,483 2,346 3,904 2,712 3,904 ‐30.5

      Ships and boats.................................. 1,434 7,512 1,783 ‐80.9 321.3 ‐35.3 1,884 5,944 2,059 1,756 1,884 1,756 7.3

  Furniture and related products................... 7,006 7,104 7,041 ‐1.4 0.9 1.6 6,676 6,394 6,838 6,372 6,676 6,372 4.8

  Nondurable goods industries..................... 251,910 253,821 250,991 ‐0.8 1.1 0.7 239,259 247,475 244,704 233,591 239,259 233,591 2.4

Year to date

p Preliminary

r

Revised data due to late receipts and concurrent seasonal adjustment.      1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and new orders include

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

review of the model  parameters. Estimates are not adjusted for price changes.        2 Data on new orders are not available for the semiconductor industry.  Estimates and percent changes for new orders exclude semiconductor industry data.      

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020.  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 January

Jan. Dec. Nov. Dec. ‐ Nov. ‐ Oct. ‐ Jan. Dec. Nov. Jan. 2020/

2020p 2019r 2019 Jan. Dec. Nov. 2020p 2019r 2019 2019 2019

All manufacturing industries2...................... 1,157,015 1,156,915 1,156,728 0.0 0.0 ‐0.6 1,156,780 1,154,174 1,148,196 1,182,497 ‐2.2

      Excluding transportation2

...................... 368,327 368,079 368,311 0.1 ‐0.1 ‐0.1 365,874 361,670 363,338 367,525 ‐0.4

      Excluding defense2............................. 949,217 947,857 955,935 0.1 ‐0.8 ‐0.4 948,714 943,799 948,451 984,204 ‐3.6

  Durable goods industries2........................ 1,157,015 1,156,915 1,156,728 0.0 0.0 ‐0.6 1,156,780 1,154,174 1,148,196 1,182,497 ‐2.2

  Primary metals........................................ 31,986 31,864 31,970 0.4 ‐0.3 ‐0.2 31,784 31,441 31,123 31,386 1.3

      Iron and steel mills............................... 16,835 16,797 16,886 0.2 ‐0.5 ‐0.3 16,517 16,402 16,155 16,158 2.2

      Aluminum and nonferrous metals............. 11,799 11,700 11,706 0.8 ‐0.1 0.0 11,856 11,715 11,652 11,603 2.2

      Ferrous metal foundries........................ 3,352 3,367 3,378 ‐0.4 ‐0.3 ‐0.6 3,411 3,324 3,316 3,625 ‐5.9

  Fabricated metal products......................... 86,051 85,875 85,906 0.2 0.0 ‐0.5 84,555 83,521 84,256 85,130 ‐0.7

  Machinery.............................................. 101,388 101,475 102,049 ‐0.1 ‐0.6 0.0 101,385 99,743 100,955 105,512 ‐3.9

      Construction machinery......................... 4,237 4,232 4,233 0.1 0.0 ‐4.2 4,402 4,107 4,097 6,558 ‐32.9

      Mining, oil field, and

          gas field machinery.......................... 3,451 3,537 3,638 ‐2.4 ‐2.8 0.1 3,451 3,537 3,638 4,120 ‐16.2

      Industrial machinery............................. 7,961 7,829 7,774 1.7 0.7 ‐0.4 8,013 7,514 7,694 8,467 ‐5.4

      Photographic equipment........................ 1,164 1,178 1,210 ‐1.2 ‐2.6 ‐5.8 1,254 1,255 1,252 1,571 ‐20.2

      Ventilation, heating, air‐conditioning,

          and refrigeration equipment................ 7,864 7,848 7,996 0.2 ‐1.9 0.2 7,810 7,555 7,656 7,963 ‐1.9

      Metalworking machinery........................ 6,447 6,542 6,677 ‐1.5 ‐2.0 ‐0.7 6,406 6,321 6,632 7,415 ‐13.6

      Turbines, generators, and other        

          power transmission equipment............ 28,119 28,196 28,561 ‐0.3 ‐1.3 ‐0.2 28,119 28,196 28,561 28,661 ‐1.9

      Material handling equipment................... 13,455 13,427 13,275 0.2 1.1 0.9 13,445 13,373 12,930 13,082 2.8

  Computers and electronic products2

............. 118,543 118,656 118,510 ‐0.1 0.1 ‐0.1 118,437 117,950 117,505 117,425 0.9

      Computers......................................... 2,210 2,213 2,212 ‐0.1 0.0 1.7 2,210 2,213 2,212 2,235 ‐1.1

      Nondefense communications

          equipment...................................... 24,122 24,190 24,180 ‐0.3 0.0 0.2 24,007 23,966 23,996 24,731 ‐2.9

      Defense communications equipment........ 1,064 1,032 920 3.1 12.2 ‐4.5 1,031 1,019 911 1,269 ‐18.8

      Electronic components.......................... 13,353 13,350 13,404 0.0 ‐0.4 0.9 13,572 13,309 13,237 13,102 3.6

      Nondefense search and navigation

          equipment....................................... 21,031 21,015 20,819 0.1 0.9 0.3 20,948 20,803 20,978 20,014 4.7

      Defense search and navigation

          equipment....................................... 28,972 29,042 29,116 ‐0.2 ‐0.3 ‐0.8 28,822 29,015 28,561 27,939 3.2

      Electromedical, measuring,

          and control instruments...................... 27,791 27,814 27,859 ‐0.1 ‐0.2 ‐0.2 27,847 27,625 27,610 28,135 ‐1.0

  Electrical equipment, appliances,        

    and components.................................... 20,684 20,554 20,477 0.6 0.4 0.7 20,567 20,013 20,187 19,312 6.5

      Electric lighting equipment..................... 1,966 1,960 1,890 0.3 3.7 2.6 1,949 1,895 1,892 1,392 40.0

      Household appliances........................... 1,449 1,429 1,399 1.4 2.1 5.4 1,494 1,405 1,423 1,186 26.0

      Electrical equipment............................. 7,914 7,872 7,873 0.5 0.0 0.0 7,936 7,732 7,760 7,897 0.5

  Transportation equipment......................... 788,688 788,836 788,417 0.0 0.1 ‐0.8 790,906 792,504 784,858 814,972 ‐3.0

      Motor vehicle bodies, parts,       

          and trailers...................................... 26,405 26,204 25,951 0.8 1.0 0.7 26,530 26,169 24,998 27,457 ‐3.4

      Nondefense aircraft and parts................ 566,369 565,656 573,596 0.1 ‐1.4 ‐0.6 567,943 567,906 571,464 598,600 ‐5.1

      Defense aircraft and parts..................... 85,740 85,757 83,684 0.0 2.5 ‐2.3 86,307 87,200 83,237 82,106 5.1

      Ships and boats.................................. 31,301 32,714 27,863 ‐4.3 17.4 ‐3.5 30,548 30,957 27,733 29,027 5.2

  Furniture and related products................... 9,093 9,088 8,826 0.1 3.0 1.5 8,564 8,435 8,739 8,234 4.0

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/>.    

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020.  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 January

Jan. Dec. Nov. Dec. ‐ Nov. ‐ Oct. ‐ Jan. Dec. Nov. Jan. 2020/

2020p 2019r 2019 Jan. Dec. Nov. 2020p 2019r 2019 2019 2019

  All manufacturing industries...................... 703,403 703,937 701,383 ‐0.1 0.4 0.3 700,508 685,833 699,864 684,455 2.3

      Excluding transportation........................ 552,126 553,002 551,910 ‐0.2 0.2 0.1 549,630 539,598 550,109 551,839 ‐0.4

      Excluding defense............................. 674,795 675,547 672,604 ‐0.1 0.4 0.3 672,040 657,614 671,109 657,284 2.2

      With unfilled orders............................. 356,496 356,363 354,516 0.0 0.5 0.4 355,027 346,653 354,114 339,242 4.7

  Durable goods industries........................ 435,266 435,295 433,799 0.0 0.3 0.4 434,044 423,528 433,230 417,311 4.0

  Wood products........................................ 11,963 12,074 12,048 ‐0.9 0.2 ‐0.2 12,318 12,112 12,025 12,736 ‐3.3

  Nonmetallic mineral products..................... 15,093 15,061 15,077 0.2 ‐0.1 ‐0.2 15,063 14,747 14,678 14,939 0.8

  Primary metals......................................... 34,853 35,139 34,986 ‐0.8 0.4 0.5 34,991 34,926 34,725 36,790 ‐4.9

      Iron and steel mills............................... 18,527 18,991 18,854 ‐2.4 0.7 0.2 18,762 19,052 18,695 21,212 ‐11.6

      Aluminum and nonferrous metals............ 14,189 13,995 13,957 1.4 0.3 0.8 14,095 13,781 13,869 13,460 4.7

      Ferrous metal foundries........................ 2,137 2,153 2,175 ‐0.7 ‐1.0 1.6 2,134 2,093 2,161 2,118 0.8

  Fabricated metal products......................... 54,218 53,680 53,793 1.0 ‐0.2 ‐0.8 54,183 52,613 53,298 54,787 ‐1.1

  Machinery.............................................. 70,977 71,464 71,621 ‐0.7 ‐0.2 ‐0.5 70,369 69,078 72,083 70,707 ‐0.5

      Farm machinery.................................. 3,931 4,035 4,124 ‐2.6 ‐2.2 ‐3.3 4,044 4,135 4,147 4,045 0.0

      Construction machinery......................... 5,588 5,590 5,655 0.0 ‐1.1 ‐2.9 5,548 5,427 5,638 5,804 ‐4.4

      Mining, oil field,   

          and gas field machinery.................... 5,117 5,100 5,254 0.3 ‐2.9 ‐2.3 5,109 4,960 5,284 5,460 ‐6.4

      Industrial machinery............................. 8,676 8,818 8,610 ‐1.6 2.4 1.0 8,418 8,655 8,644 8,086 4.1

      Photographic equipment....................... 1,774 1,778 1,774 ‐0.2 0.2 ‐0.5 1,783 1,711 1,800 1,738 2.6

      Ventilation, heating, air‐conditioning,

          and refrigeration equipment............... 5,487 5,458 5,486 0.5 ‐0.5 0.1 5,328 4,925 5,323 5,253 1.4

      Metalworking machinery........................ 6,055 6,109 6,250 ‐0.9 ‐2.3 1.2 5,948 5,983 6,325 5,922 0.4

      Turbines, generators, and other

          power transmission equipment............ 9,377 9,412 9,481 ‐0.4 ‐0.7 ‐0.3 9,280 8,819 9,705 10,008 ‐7.3

      Material handling equipment.................. 5,826 5,964 5,918 ‐2.3 0.8 0.8 5,655 5,555 5,997 5,700 ‐0.8

  Computers and electronic products2

............ 43,806 43,909 43,782 ‐0.2 0.3 0.7 43,341 42,388 43,851 42,868 1.1

      Computers......................................... 1,495 1,565 1,613 ‐4.5 ‐3.0 1.4 1,468 1,466 1,596 1,508 ‐2.7

      Computer storage devices.................... 1,135 1,167 1,129 ‐2.7 3.4 0.6 1,086 1,116 1,172 1,018 6.7

      Other peripheral equipment................... 1,163 1,212 1,130 ‐4.0 7.3 0.6 1,171 1,157 1,159 1,134 3.3

      Nondefense communications

          equipment...................................... 4,756 4,779 4,760 ‐0.5 0.4 ‐1.6 4,664 4,501 4,879 4,715 ‐1.1

      Defense communications equipment........ 702 711 705 ‐1.3 0.9 ‐0.6 702 711 705 670 4.8

      Audio and video equipment.................... 584 592 609 ‐1.4 ‐2.8 0.7 578 575 622 628 ‐8.0

      Electronic components.......................... 7,640 7,593 7,477 0.6 1.6 2.2 7,680 7,332 7,285 7,262 5.8

      Nondefense search and navigation

          equipment...................................... 2,805 2,801 2,812 0.1 ‐0.4 1.0 2,812 2,736 2,787 2,640 6.5

      Defense search and navigation

          equipment....................................... 2,536 2,528 2,521 0.3 0.3 ‐0.2 2,521 2,432 2,479 2,569 ‐1.9

      Electromedical, measuring        

          and control instruments...................... 15,780 15,789 15,683 ‐0.1 0.7 0.1 15,513 15,351 15,821 15,314 1.3

  Electrical equipment, appliances,        

    and components.................................... 20,372 20,346 20,377 0.1 ‐0.2 ‐0.2 20,294 19,429 20,019 19,809 2.4

      Electric lighting equipment..................... 2,279 2,291 2,276 ‐0.5 0.7 0.3 2,309 2,198 2,240 2,294 0.7

      Household appliances........................... 2,817 2,846 2,906 ‐1.0 ‐2.1 ‐1.0 2,754 2,541 2,811 2,794 ‐1.4

      Electrical equipment............................. 5,799 5,792 5,795 0.1 ‐0.1 0.7 5,845 5,643 5,749 5,696 2.6

      Batteries............................................ 1,812 1,807 1,794 0.3 0.7 ‐3.5 1,713 1,642 1,682 1,761 ‐2.7

  Transportation equipment......................... 151,277 150,935 149,473 0.2 1.0 1.3 150,878 146,235 149,755 132,616 13.8

      Automobiles....................................... 4,925 4,810 4,805 2.4 0.1 ‐4.7 4,888 4,484 4,761 4,387 11.4

      Light trucks and utility vehicles.............. 5,049 5,144 5,343 ‐1.8 ‐3.7 6.3 5,054 4,546 5,533 4,835 4.5

      Heavy duty trucks ............................... 2,261 2,234 2,230 1.2 0.2 ‐0.5 2,271 2,069 2,156 2,215 2.5

      Motor vehicle bodies, parts,       

          and trailers...................................... 26,623 26,659 26,635 ‐0.1 0.1 ‐0.1 26,884 26,262 26,503 26,487 1.5

      Nondefense aircraft and parts................ 82,154 82,138 80,073 0.0 2.6 2.2 81,644 79,216 80,360 66,613 22.6

      Defense aircraft and parts..................... 13,601 13,473 13,445 1.0 0.2 ‐0.6 13,567 13,396 13,521 13,278 2.2

      Ships and boats.................................. 3,223 3,194 3,435 0.9 ‐7.0 ‐1.1 3,147 3,175 3,394 2,977 5.7

  Furniture and related products.................... 7,947 7,988 7,991 ‐0.5 0.0 ‐0.6 7,951 7,792 7,973 8,117 ‐2.0

  Miscellaneous durable goods..................... 24,760 24,699 24,651 0.2 0.2 0.7 24,656 24,208 24,823 23,942 3.0

  Nondurable goods industries...................... 268,137 268,642 267,584 ‐0.2 0.4 0.2 266,464 262,305 266,634 267,144 ‐0.3

  Food products........................................ 54,645 54,647 54,165 0.0 0.9 0.3 54,363 54,093 55,604 53,569 1.5

      Grain and oilseed milling........................ 5,444 5,388 5,306 1.0 1.5 0.7 5,628 5,477 5,509 5,248 7.2

      Dairy products.................................... 8,070 8,042 7,991 0.3 0.6 1.5 7,831 7,603 7,646 7,398 5.9

      Meat, poultry, and seafood products....... 9,735 9,846 9,666 ‐1.1 1.9 0.5 9,572 9,551 9,731 9,059 5.7

  Beverage and tobacco products................ 25,082 24,942 25,045 0.6 ‐0.4 0.3 25,383 24,996 25,293 25,132 1.0

      Beverages......................................... 20,694 20,605 20,643 0.4 ‐0.2 0.5 20,775 20,489 20,676 20,371 2.0

      Tobacco............................................ 4,388 4,337 4,402 1.2 ‐1.5 ‐0.7 4,608 4,507 4,617 4,761 ‐3.2

  Textile mills............................................ 3,278 3,299 3,305 ‐0.6 ‐0.2 0.2 3,298 3,264 3,273 3,506 ‐5.9

  Textile products...................................... 3,420 3,438 3,463 ‐0.5 ‐0.7 ‐0.6 3,449 3,368 3,444 3,607 ‐4.4

  Apparel................................................. 1,885 1,894 1,919 ‐0.5 ‐1.3 ‐0.7 1,861 1,764 1,867 1,938 ‐4.0

  Leather and allied products....................... 774 776 781 ‐0.3 ‐0.6 ‐0.1 783 782 783 815 ‐3.9

  Paper products....................................... 16,213 16,245 16,235 ‐0.2 0.1 ‐0.1 16,308 16,164 16,025 16,411 ‐0.6

      Pulp, paper, and paperboard mills........... 6,786 6,763 6,786 0.3 ‐0.3 ‐0.3 6,809 6,756 6,696 6,789 0.3

      Paperboard containers......................... 5,068 5,059 5,045 0.2 0.3 0.2 5,113 5,056 4,964 5,082 0.6

  Printing.................................................. 5,530 5,523 5,536 0.1 ‐0.2 0.0 5,450 5,430 5,565 5,560 ‐2.0

  Petroleum and coal products..................... 40,754 40,662 39,847 0.2 2.0 2.4 38,932 38,384 38,762 37,944 2.6

      Petroleum refineries............................. 35,167 35,066 34,203 0.3 2.5 3.0 33,287 32,865 33,268 31,951 4.2

  Chemical products..................................... 89,820 90,443 90,489 ‐0.7 ‐0.1 ‐0.5 89,954 88,014 89,495 91,374 ‐1.6

      Pesticides, fertilizers, and other

          agricultural chemicals........................ 4,884 4,955 5,057 ‐1.4 ‐2.0 ‐0.6 5,277 5,052 4,976 5,182 1.8

      Pharmaceuticals and medicines.............. 36,998 37,363 37,139 ‐1.0 0.6 ‐0.4 36,764 36,004 36,771 36,947 ‐0.5

      Paints, coatings, and adhesives.............. 3,805 3,818 3,861 ‐0.3 ‐1.1 0.2 3,827 3,677 3,745 3,986 ‐4.0

  Plastics and rubber products..................... 26,736 26,773 26,799 ‐0.1 ‐0.1 0.0 26,683 26,046 26,523 27,288 ‐2.2

p Preliminary

r Revised data due to late receipts and concurrent seasonal adjustment.   1

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

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

Estimates are not adjusted for price changes.        2 Estimates of inventories for the semiconductor industry data are included in computers and electronic products, and all other applicable aggregate totals.        

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020.  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

Jan. Dec. Nov. Dec. ‐ Nov. ‐ Oct. ‐ Jan. Dec. Nov. Jan. 2020/

2020p 2019r 2019 Jan. Dec. Nov. 2020p 2019r 2019 2019 2020p 2019 2019

SHIPMENTS

  All manufacturing industries......................... 501,825 504,166 501,823 ‐0.5 0.5 0.3 467,209 493,310 485,404 466,970 467,209 466,970 0.1

    Construction materials and supplies....... 52,633 52,357 52,380 0.5 0.0 0.1 46,890 46,197 48,761 46,157 46,890 46,157 1.6

    Information technology......................... 25,490 25,421 25,419 0.3 0.0 0.7 21,727 29,280 24,713 21,567 21,727 21,567 0.7

    Computers and related products........... 1,858 1,766 1,893 5.2 ‐6.7 8.0 1,510 2,358 1,743 1,407 1,510 1,407 7.3

    Motor vehicle and parts......................... 59,008 59,246 59,286 ‐0.4 ‐0.1 0.8 55,022 53,374 56,812 56,896 55,022 56,896 ‐3.3

    Capital goods......................................      86,314 87,090 87,095 ‐0.9 0.0 ‐0.9 75,376 95,767 84,147 78,685 75,376 78,685 ‐4.2

      Nondefense capital goods3

.................. 73,237 74,613 74,340 ‐1.8 0.4 ‐0.9 64,437 82,141 70,490 68,046 64,437 68,046 ‐5.3

        Excluding aircraft............................. 69,370 68,693 68,996 1.0 ‐0.4 ‐0.4 62,071 73,627 65,204 62,095 62,071 62,095 0.0

      Defense capital goods4

........................ 13,077 12,477 12,755 4.8 ‐2.2 ‐0.7 10,939 13,626 13,657 10,639 10,939 10,639 2.8

    Consumer goods.................................. 210,919 214,111 212,387 ‐1.5 0.8 0.7 199,255 210,749 209,802 197,022 199,255 197,022 1.1

      Consumer durable goods..................... 40,935 42,035 42,625 ‐2.6 ‐1.4 0.2 37,145 40,377 41,545 40,196 37,145 40,196 ‐7.6

      Consumer nondurable goods................ 169,984 172,076 169,762 ‐1.2 1.4 0.9 162,110 170,372 168,257 156,826 162,110 156,826 3.4

  All manufacturing industries5

...................... 497,909 500,196 490,709 ‐0.5 1.9 ‐1.2 465,186 495,544 474,402 465,038 465,186 465,038 0.0

    Construction materials and supplies....... 52,806 52,325 52,084 0.9 0.5 0.5 47,735 45,586 47,983 47,374 47,735 47,374 0.8

    Information technology......................... 25,422 25,567 25,146 ‐0.6 1.7 0.0 22,157 29,525 23,860 21,726 22,157 21,726 2.0

    Computers and related products........... 1,855 1,767 1,930 5.0 ‐8.4 8.2 1,507 2,359 1,780 1,447 1,507 1,447 4.1

    Motor vehicle and parts......................... 59,209 59,499 59,472 ‐0.5 0.0 1.6 55,383 54,545 57,379 57,161 55,383 57,161 ‐3.1

    Capital goods......................................      83,866 83,383 78,985 0.6 5.6 ‐10.3 73,620 95,976 76,015 79,971 73,620 79,971 ‐7.9

      Nondefense capital goods3

.................. 72,489 64,484 68,898 12.4 ‐6.4 ‐4.9 64,751 74,085 65,650 69,988 64,751 69,988 ‐7.5

        Excluding aircraft............................. 69,400 68,664 69,193 1.1 ‐0.8 0.0 64,467 72,091 64,645 63,635 64,467 63,635 1.3

      Defense capital goods4........................ 11,377 18,899 10,087 ‐39.8 87.4 ‐35.3 8,869 21,891 10,365 9,983 8,869 9,983 ‐11.2

    Consumer goods.................................. 210,911 214,193 212,506 ‐1.5 0.8 0.8 199,450 210,583 209,989 197,140 199,450 197,140 1.2

      Consumer durable goods..................... 40,927 42,117 42,744 ‐2.8 ‐1.5 0.3 37,340 40,211 41,732 40,314 37,340 40,314 ‐7.4

      Consumer nondurable goods.............. 169,984 172,076 169,762 ‐1.2 1.4 0.9 162,110 170,372 168,257 156,826 162,110 156,826 3.4

  All manufacturing industries5

...................... 1,157,015 1,156,915 1,156,728 0.0 0.0 ‐0.6 1,156,780 1,154,174 1,148,196 1,182,497 (X) (X) ‐2.2

    Construction materials and supplies....... 59,540 59,367 59,399 0.3 ‐0.1 ‐0.5 58,225 57,380 57,991 59,022 (X) (X) ‐1.4

    Information technology......................... 115,709 115,777 115,631 ‐0.1 0.1 ‐0.2 115,307 114,877 114,632 114,731 (X) (X) 0.5

    Computers and related products........... 2,210 2,213 2,212 ‐0.1 0.0 1.7 2,210 2,213 2,212 2,235 (X) (X) ‐1.1

    Motor vehicle and parts......................... 26,405 26,204 25,951 0.8 1.0 0.7 26,530 26,169 24,998 27,457 (X) (X) ‐3.4

    Capital goods......................................      834,006 836,454 840,161 ‐0.3 ‐0.4 ‐1.0 833,758 835,514 835,305 868,483 (X) (X) ‐4.0

      Nondefense capital goods3.................. 671,036 671,784 681,913 ‐0.1 ‐1.5 ‐0.8 670,578 670,264 678,320 711,362 (X) (X) ‐5.7

        Excluding aircraft............................. 218,011 217,981 218,010 0.0 0.0 0.1 217,070 214,674 216,210 220,885 (X) (X) ‐1.7

      Defense capital goods4........................ 162,970 164,670 158,248 ‐1.0 4.1 ‐1.7 163,180 165,250 156,985 157,121 (X) (X) 3.9

    Consumer goods.................................. 5,117 5,125 5,043 ‐0.2 1.6 2.4 5,163 4,968 5,134 4,604 (X) (X) 12.1

      Consumer durable goods..................... 5,117 5,125 5,043 ‐0.2 1.6 2.4 5,163 4,968 5,134 4,604 (X) (X) 12.1

  All manufacturing industries....................... 703,403 703,937 701,383 ‐0.1 0.4 0.3 700,508 685,833 699,864 684,455 (X) (X) 2.3

    Construction materials and supplies....... 73,040 72,603 72,661 0.6 ‐0.1 ‐0.5 73,248 70,872 71,503 74,633 (X) (X) ‐1.9

    Information technology......................... 40,636 40,772 40,578 ‐0.3 0.5 0.0 40,211 39,405 40,808 39,442 (X) (X) 1.9

    Computers and related products........... 3,793 3,944 3,872 ‐3.8 1.9 0.9 3,725 3,739 3,927 3,660 (X) (X) 1.8

    Motor vehicle and parts......................... 38,858 38,847 39,013 0.0 ‐0.4 0.1 39,097 37,361 38,953 37,924 (X) (X) 3.1

    Capital goods......................................      222,378 222,701 221,248 ‐0.1 0.7 0.6 220,598 215,636 222,149 204,597 (X) (X) 7.8

      Nondefense capital goods3.................. 198,276 198,801 196,925 ‐0.3 1.0 0.6 196,602 191,830 197,926 181,744 (X) (X) 8.2

        Excluding aircraft............................. 129,344 129,866 129,575 ‐0.4 0.2 ‐0.2 128,067 125,820 130,347 127,120 (X) (X) 0.7

      Defense capital goods4........................ 24,102 23,900 24,323 0.8 ‐1.7 0.1 23,996 23,806 24,223 22,853 (X) (X) 5.0

    Consumer goods.................................. 203,931 204,187 203,247 ‐0.1 0.5 0.5 202,129 198,390 203,698 199,897 (X) (X) 1.1

      Consumer durable goods..................... 31,908 31,957 32,401 ‐0.2 ‐1.4 0.3 32,112 30,425 32,618 31,442 (X) (X) 2.1

      Consumer nondurable goods................ 172,023 172,230 170,846 ‐0.1 0.8 0.5 170,017 167,965 171,080 168,455 (X) (X) 0.9

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 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 Topical series are regroupings of the separate industry categories.    

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

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

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

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

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

5 Estimates and percent changes exclude semiconductor industry data.     

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020.  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 January

Jan. Dec. Nov. Dec. ‐ Nov. ‐ Oct. ‐ Jan. Dec. Nov. Jan. 2020/

2020p 2019r 2019 Jan. Dec. Nov. 2020p 2019r 2019 2019 2019

MATERIALS AND SUPPLIES

  All manufacturing industries....................... 237,261 237,126 237,019 0.1 0.0 ‐0.1 237,847 234,590 236,107 239,421 ‐0.7

    Durable goods industries.......................... 144,960 145,173 145,572 ‐0.1 ‐0.3 ‐0.2 145,436 143,725 145,474 146,975 ‐1.0

      Wood products................................... 5,125 5,144 5,205 ‐0.4 ‐1.2 ‐0.1 5,377 5,314 5,321 5,473 ‐1.8

      Nonmetallic mineral products................. 6,210 6,123 6,120 1.4 0.0 ‐0.9 6,191 6,068 6,059 6,040 2.5

      Primary metals.................................... 12,176 12,541 12,523 ‐2.9 0.1 ‐0.9 12,353 12,712 12,599 13,520 ‐8.6

      Fabricated metal products..........................       19,806 19,562 19,931 1.2 ‐1.9 ‐1.3 19,785 19,526 19,831 20,741 ‐4.6

      Machinery.......................................... 28,743 28,805 28,957 ‐0.2 ‐0.5 ‐0.4 28,684 28,129 28,899 29,065 ‐1.3

      Computers and electronic products........ 19,529 19,657 19,743 ‐0.7 ‐0.4 1.5 19,420 19,294 19,801 18,974 2.4

      Electrical equipment, appliances,

         and components............................... 8,632 8,514 8,476 1.4 0.4 0.1 8,614 8,314 8,351 8,439 2.1

      Transportation equipment..................... 32,921 32,949 32,728 ‐0.1 0.7 ‐0.3 33,120 32,561 32,743 32,672 1.4

      Furniture and related products............... 3,691 3,739 3,744 ‐1.3 ‐0.1 ‐0.8 3,762 3,722 3,709 4,047 ‐7.0

      Miscellaneous products......................... 8,127 8,139 8,145 ‐0.1 ‐0.1 0.4 8,130 8,085 8,161 8,004 1.6

   Nondurable goods industries...................... 92,301 91,953 91,447 0.4 0.6 0.1 92,411 90,865 90,633 92,446 0.0

      Food  products.................................... 18,472 18,529 18,306 ‐0.3 1.2 0.1 18,535 18,560 18,494 17,863 3.8

      Beverage and tobacco products........................ 5,940 5,891 5,847 0.8 0.8 ‐0.6 6,161 6,031 5,966 6,188 ‐0.4

      Textiles.............................................. 1,106 1,120 1,123 ‐1.3 ‐0.3 0.0 1,110 1,118 1,110 1,190 ‐6.7

      Textile products................................... 1,335 1,320 1,334 1.1 ‐1.0 ‐1.2 1,335 1,307 1,329 1,359 ‐1.8

      Apparel............................................. 442 443 450 ‐0.2 ‐1.6 ‐1.7 444 430 443 524 ‐15.3

      Leather and allied products.................... 270 262 267 3.1 ‐1.9 ‐0.4 269 267 266 279 ‐3.6

      Paper products.................................... 8,053 8,093 8,078 ‐0.5 0.2 0.8 8,125 8,131 7,993 8,277 ‐1.8

      Printing ............................................. 2,762 2,748 2,758 0.5 ‐0.4 ‐0.4 2,736 2,727 2,779 2,859 ‐4.3

      Petroleum and coal products................. 11,303 10,798 10,242 4.7 5.4 1.7 10,851 10,069 9,811 10,569 2.7

      Chemical products................................ 31,362 31,487 31,801 ‐0.4 ‐1.0 ‐0.2 31,481 31,116 31,325 31,829 ‐1.1

      Plastics and rubber products.................. 11,256 11,262 11,241 ‐0.1 0.2 0.0 11,364 11,109 11,117 11,509 ‐1.3

WORK IN PROCESS

  All manufacturing industries....................... 221,582 221,710 220,200 ‐0.1 0.7 0.8 219,734 214,727 220,032 207,304 6.0

    Durable goods industries.......................... 169,303 168,860 166,886 0.3 1.2 0.9 168,002 162,901 166,394 151,918 10.6

      Wood products................................... 2,148 2,199 2,165 ‐2.3 1.6 0.8 2,158 2,147 2,128 2,221 ‐2.8

      Nonmetallic mineral products................. 1,578 1,601 1,584 ‐1.4 1.1 1.2 1,585 1,528 1,502 1,596 ‐0.7

      Primary metals.................................... 9,873 9,843 9,748 0.3 1.0 ‐2.5 9,784 9,464 9,651 10,544 ‐7.2

      Fabricated metal products..........................       13,983 13,998 14,023 ‐0.1 ‐0.2 ‐1.0 13,942 13,655 14,000 14,043 ‐0.7

      Machinery.......................................... 18,492 18,641 18,523 ‐0.8 0.6 ‐0.2 18,142 17,634 18,927 18,112 0.2

      Computers and electronic products........ 12,649 12,474 12,196 1.4 2.3 1.4 12,420 11,773 11,946 12,118 2.5

      Electrical equipment, appliances,

         and components............................... 4,295 4,357 4,349 ‐1.4 0.2 1.0 4,272 4,160 4,264 4,174 2.3

      Transportation equipment..................... 100,947 100,406 99,006 0.5 1.4 1.7 100,406 97,386 98,680 83,901 19.7

      Furniture and related products............... 1,386 1,397 1,394 ‐0.8 0.2 ‐0.1 1,380 1,368 1,382 1,373 0.5

      Miscellaneous products......................... 3,952 3,944 3,898 0.2 1.2 0.2 3,913 3,786 3,914 3,836 2.0

   Nondurable goods industries...................... 52,279 52,850 53,314 ‐1.1 ‐0.9 0.7 51,732 51,826 53,638 55,386 ‐6.6

      Food  products.................................... 4,931 4,883 4,930 1.0 ‐1.0 ‐0.8 5,248 5,381 5,801 6,287 ‐16.5

      Beverage and tobacco products........................ 9,692 9,604 9,688 0.9 ‐0.9 0.9 9,922 9,884 9,894 9,865 0.6

      Textiles.............................................. 699 705 710 ‐0.9 ‐0.7 0.9 695 684 707 742 ‐6.3

      Textile products................................... 397 414 420 ‐4.1 ‐1.4 ‐0.2 398 398 421 432 ‐7.9

      Apparel............................................. 343 346 343 ‐0.9 0.9 0.6 330 316 332 329 0.3

      Leather and allied products.................... 72 78 78 ‐7.7 0.0 ‐4.9 73 78 78 80 ‐8.8

      Paper products.................................... 1,325 1,330 1,348 ‐0.4 ‐1.3 ‐1.2 1,318 1,297 1,325 1,349 ‐2.3

      Printing ............................................. 1,218 1,229 1,220 ‐0.9 0.7 1.7 1,189 1,186 1,226 1,171 1.5

      Petroleum and coal products................. 12,037 12,366 12,620 ‐2.7 ‐2.0 3.1 11,055 11,126 12,140 11,858 ‐6.8

      Chemical products................................ 18,468 18,807 18,855 ‐1.8 ‐0.3 ‐0.4 18,411 18,493 18,611 20,071 ‐8.3

      Plastics and rubber products.................. 3,097 3,088 3,102 0.3 ‐0.5 0.5 3,093 2,983 3,103 3,202 ‐3.4

FINISHED GOODS

  All manufacturing industries....................... 244,560 245,101 244,164 ‐0.2 0.4 0.3 242,927 236,516 243,725 237,730 2.2

    Durable goods industries.......................... 121,003 121,262 121,341 ‐0.2 ‐0.1 0.5 120,606 116,902 121,362 118,418 1.8

      Wood products................................... 4,690 4,731 4,678 ‐0.9 1.1 ‐0.7 4,783 4,651 4,576 5,042 ‐5.1

      Nonmetallic mineral products................. 7,305 7,337 7,373 ‐0.4 ‐0.5 0.0 7,287 7,151 7,117 7,303 ‐0.2

      Primary metals.................................... 12,804 12,755 12,715 0.4 0.3 4.5 12,854 12,750 12,475 12,726 1.0

      Fabricated metal products..........................       20,429 20,120 19,839 1.5 1.4 ‐0.3 20,456 19,432 19,467 20,003 2.3

      Machinery.......................................... 23,742 24,018 24,141 ‐1.1 ‐0.5 ‐0.8 23,543 23,315 24,257 23,530 0.1

      Computers and electronic products........ 11,628 11,778 11,843 ‐1.3 ‐0.5 ‐1.5 11,501 11,321 12,104 11,776 ‐2.3

      Electrical equipment, appliances,

         and components............................... 7,445 7,475 7,552 ‐0.4 ‐1.0 ‐1.2 7,408 6,955 7,404 7,196 2.9

      Transportation equipment..................... 17,409 17,580 17,739 ‐1.0 ‐0.9 2.7 17,352 16,288 18,332 16,043 8.2

      Furniture and related products............... 2,870 2,852 2,853 0.6 0.0 ‐0.7 2,809 2,702 2,882 2,697 4.2

      Miscellaneous products......................... 12,681 12,616 12,608 0.5 0.1 1.0 12,613 12,337 12,748 12,102 4.2

   Nondurable goods industries...................... 123,557 123,839 122,823 ‐0.2 0.8 0.1 122,321 119,614 122,363 119,312 2.5

      Food  products.................................... 31,242 31,235 30,929 0.0 1.0 0.5 30,580 30,152 31,309 29,419 3.9

      Beverage and tobacco products........................ 9,450 9,447 9,510 0.0 ‐0.7 0.2 9,300 9,081 9,433 9,079 2.4

      Textiles.............................................. 1,473 1,474 1,472 ‐0.1 0.1 0.1 1,493 1,462 1,456 1,574 ‐5.1

      Textile products................................... 1,688 1,704 1,709 ‐0.9 ‐0.3 ‐0.2 1,716 1,663 1,694 1,816 ‐5.5

      Apparel............................................. 1,100 1,105 1,126 ‐0.5 ‐1.9 ‐0.6 1,087 1,018 1,092 1,085 0.2

      Leather and allied products.................... 432 436 436 ‐0.9 0.0 0.9 441 437 439 456 ‐3.3

      Paper products.................................... 6,835 6,822 6,809 0.2 0.2 ‐0.9 6,865 6,736 6,707 6,785 1.2

      Printing ............................................. 1,550 1,546 1,558 0.3 ‐0.8 ‐0.6 1,525 1,517 1,560 1,530 ‐0.3

      Petroleum and coal products................. 17,414 17,498 16,985 ‐0.5 3.0 2.2 17,026 17,189 16,811 15,517 9.7

      Chemical products................................ 39,990 40,149 39,833 ‐0.4 0.8 ‐0.7 40,062 38,405 39,559 39,474 1.5

      Plastics and rubber products.................. 12,383 12,423 12,456 ‐0.3 ‐0.3 ‐0.1 12,226 11,954 12,303 12,577 ‐2.8

p Preliminary  

r

Revised data due to late receipts and concurrent seasonal adjustment.     

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

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

Estimates are not adjusted for price changes.     

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020.  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 Jan Dec Nov Oct Jan Dec Nov Oct

2020p 2019r 2019 2019 2020p 2019r 2019 2019

All manufacturing industries3

.................................... 1.40 1.40 1.40 1.40 (X) (X) (X) (X)

Durable goods industries3

........................................ 1.74 1.74 1.73 1.72 6.63 6.65 6.66 6.68

  Wood products........................................................... 1.27 1.29 1.28 1.30 (X) (X) (X) (X)

  Nonmetallic mineral products............................. 1.32 1.33 1.34 1.34 (X) (X) (X) (X)

  Primary metals............................................................ 1.74 1.77 1.76 1.74 1.60 1.60 1.61 1.60

  Fabricated metal products...................................... 1.61 1.60 1.59 1.60 2.62 2.63 2.61 2.63

  Machinery..................................................................... 2.17 2.20 2.20 2.18 3.44 3.46 3.48 3.42

  Computers and electronic products3

................... 1.57 1.58 1.57 1.56 5.43 5.47 5.50 5.49

  Electrical equipment, appliances,

      and components.................................................... 1.75 1.72 1.73 1.77 1.93 1.89 1.89 1.91

  Transportation equipment..................................... 1.84 1.81 1.79 1.76 15.04 15.01 15.13 15.20

  Furniture and related products............................ 1.14 1.17 1.16 1.17 1.44 1.47 1.42 1.41

  Miscellaneous products.......................................... 1.80 1.80 1.79 1.76 (X) (X) (X) (X)

Nondurable goods industries................................... 1.06 1.06 1.07 1.07 (X) (X) (X) (X)

  Food products............................................................. 0.80 0.80 0.79 0.79 (X) (X) (X) (X)

  Beverage and tobacco products........................... 2.01 2.00 2.06 1.98 (X) (X) (X) (X)

  Textiles.......................................................................... 1.38 1.37 1.37 1.35 (X) (X) (X) (X)

  Textile products......................................................... 1.61 1.56 1.55 1.54 (X) (X) (X) (X)

  Apparel........................................................................ 1.95 1.95 2.03 2.02 (X) (X) (X) (X)

  Leather and allied products................................ 1.89 1.84 1.93 1.91 (X) (X) (X) (X)

  Paper products.......................................................... 0.99 1.00 1.01 1.01 (X) (X) (X) (X)

  Printing........................................................................ 0.78 0.78 0.79 0.80 (X) (X) (X) (X)

  Petroleum and coal products............................... 0.76 0.73 0.74 0.75 (X) (X) (X) (X)

  Chemical products................................................... 1.32 1.33 1.33 1.34 (X) (X) (X) (X)

  Plastics and rubber products................................ 1.35 1.35 1.35 1.36 (X) (X) (X) (X)

Jan3 Jan3 Jan3 Jan3

Industry 2019‐ 2019‐ 2019‐ 2019‐

Jan2 Dec Jan2 Dec Jan2 Dec Jan2 Dec

2020 2019 2020 2019 2020 2019 2020 2019

          

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

Durable goods industries....................... 0.0 0.2 0.0 0.5 0.0 0.1 0.0 0.1

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

  Nonmetallic mineral products.............. (X) 0.3 (X) (NA) (X) (NA) (X) 0.1

  Primary metals............................................. ‐0.2 0.4 ‐0.1 0.6 0.1 0.2 0.0 0.3

  Fabricated metal products.................... 0.1 0.4 ‐0.1 0.6 ‐0.1 0.2 0.1 0.1

  Machinery...................................................... ‐0.2 0.3 0.0 0.7 0.1 0.1 ‐0.1 0.1

  Computers and electronic products..... ‐0.3 0.3 ‐0.5 0.4 0.0 0.1 ‐0.2 0.1

  Electrical equipment, appliances,

      and components..................................... ‐0.1 0.2 0.3 0.3 0.3 0.2 ‐0.3 0.1

  Transportation equipment.................... 0.2 0.4 0.1 1.2 0.0 0.1 0.0 0.1

  Furniture and related products............. (X) 0.4 (X) 0.5 (X) 0.6 (X) 0.2

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

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

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

  Beverage and tobacco products............ (X) 0.4 (X) (NA) (X) (NA) (X) 0.2

  Textiles.......................................................... (X) 0.3 (X) (NA) (X) (NA) (X) 0.2

  Textile products......................................... (X) 0.5 (X) (NA) (X) (NA) (X) 0.2

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

  Leather and allied products.................. (X) 0.8 (X) (NA) (X) (NA) (X) 0.2

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

  Printing.......................................................... (X) 0.2 (X) (NA) (X) (NA) (X) 0.2

  Petroleum and coal products............... (X) 0.5 (X) (NA) (X) (NA) (X) 0.4

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

  Plastics and rubber products................ (X) 0.3 (X) (NA) (X) (NA) (X) 0.2

X Not Applicable   p Preliminary

r

Revised data due to late receipts and concurrent seasonal adjustment.     2 Excludes the following industries with no unfilled orders:  Wood products; nonmetallic mineral products; medical equipment and supplies; office supplies;

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

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

miscellaneous furniture.     3 Unfilled orders to shipments ratio excludes semiconductor manufacturing.  

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

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020. Information on data

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

X  Not Applicable  

NA  Not Available          1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories  are for the

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

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

based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes.    2 The current month revisions are the difference between the advance percent change and the percent change as shown in this  publication.      3 The twelve month revisions are the differences between the month‐to‐month percent changes of the preliminary and final estimates.  The

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

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

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

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 5, 2020. 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