UNITED STATES DEPARTMENT OF ECONOMICS

COMMERCE | pitirstes
N EWS WASHINGTON, D.C. 20230 BUR EENSOS

Bureau of the Census For Release 8:30 A.M. EDT
Steve Andrews or Kathy Menth June 23, 1993
(301) 763-2502 or (301) 763-2575 CB93-122
M3-1(93)-5

ADVANCE REPORT ON DURABLE Goops: MANUFACTURERS’ SHIPMENTS AND ORDERS
lay 1993
(All figures in text below are in seasonally adjusted current dollars)

New Orders

New orders for manufactured durable goods in May decreased $2.1 billion or 1.6 percent to $128.3 billion, the
Department of Commerce, Bureau of the Census reported today. This follows a revised 0.2 percent decrease in April and
a 3.4 percent decrease in March. Year to date, new orders for 1993 are 8.8 percent above the same period a year ago.

Transportation equipment declined $0.8 billion or 2.4 percent to $31.5 billion, with decreases in nearly industry
categories. This is the third consecutive monthly decline. Electronic and other electrical equipment decreased $0.4 billion
or 2.2 percent to $18.4 billion, following a 5.5 percent increase in April. Primary metals decreased $0.2 billion or 1.9 percent
to $11.0 billion, the fourth consecutive monthly decline. Instruments and related products also had a large decrease. Industrial
machinery and equipment increased $0.4 billion or 1.7 percent to $23.4 billion.

Shipments

Shipments of durable goods in May decreased $0.5 billion or 0.4 percent to $132.3 billion, following a 2.0 percent
decrease in April. Transportation equipment had the largest decline, down $0.9 billion or 2.6 percent to $34.3 billion, primarily
due to motor vehicle and parts. Primary metals declined $0.2 billion or 1.9 percent to $11.2 billion. Industrial machinery and
equipment had the largest increase, up $0.4 billion or 1.7 percent to $23.3 billion, with increases in nearly all industry
categories. This follows a 3.8 percent decrease in April.

Unfilled Orders

Unfilled orders for durable goods in May decreased $4.0 billion or 0.9 percent to $445.8 billion, the lowest level since
November 1988. This is the third consecutive monthly decline. Transportation equipment had the largest decrease, down $2.8
billion or 1.2 percent to $237.2 billion, primarily due to aircraft and parts and shipbuilding and tanks. This is th¢ twelfth
decline in the last thirteen months. Instruments and related products also had a large decrease. Stone, clay, and glass
products, and industrial machinery and equipment had increases.

Capital Goods Industries

. Defense - New orders were down $0.9 billion or 13.2 percent to $6.0 billion, following a7.2 percent decrease in April.
Shipments were unchanged at $7.5 billion, following a 3.1 percent decrease in April. Unfilled orders, down sixteen of the last
seventeen months, decreased $1.5 billion or 1.2 percent to $126.0 billion, the lowest level since February 1984.

Nondefense - New orders decreased $0.2 billion or 0.8 percent to $30.7 billion, following a 3.8 percent increase in
April. Shipments were up $0.4 billion or 1.3 percent to $32.7 billion, following a 3.8 percent decrease in April. Unfilled
orders, down $2.0 billion or 0.9 percent to $212.1 billion, have declined in thirteen of the last fourteen months and are at the
lowest level since November 1989. Excluding aircraft and parts, new orders decreased $0.5 billion or 1.9 percent; shipments
increased $0.4 billion or 1.4 percent; and unfilled orders decreased $0.2 billion or 0.2 percent.

The data in this press release are consistent with the revised historical series released June 18, 1993. A report which
includes these data from 1982 through 1992 may be obtained by calling (301) 763-2502. To purchase historical data from
January 1958 through March 1993 on computer tape, contact Data User Services Division on (301) 763-4100; for disks,
contact Industry Division on (301) 763-2502.

‘This report presents advance information on two key business indicators: durable goods manufacturers’ shipments and orders. Revised and more detailed
estimates plus nondurable goods and inventory data will be published June 30, 1993. ‘The advance report on durable goods for June is scheduled for July
28, 1993. This report is available on the day of issue through the Department of Commerce’s online Economic Bulletin Board (N-8-1) (202-482-3870) and
through the Census Bureau's online information service-CENDATA. Further information about accessing CENDATA can be obtained from Dialog
Information Services, Inc. (1-800-334-2564) and CompuServe (1-800-848-8199). The CENDATA staff at the Bureau of the Census (301-763-2074) can provide



Table 1. DURABLE GOODS MANUFACTURERS’ SHIPMENTS AND ORDERS
(Millions of dollars)

Seasonally adjusted ‘Not seasonally adjusted’
Item Monthly Percent Change Monthly Percent
change
May Apr. Mar. | Apr. | Mar-| Feb. May Apr. May
199 1985" 1993 fay? | Apr’ | Mar. 199 1985" 1993 | May93/92
DURABLE GOODS
Total :
Shipments 132,284 | 132,790 | 135,537 04 -20| +10 | 134,963 | 133,193 | 125,868 472
New orders | 128,256 | 130/337 | 130/569 -16 02] 34 | 129691 | 1313307 | 122.473 459
Unfilled orders 445/827 | 449,855 | 452/308 09 05 | <1 | 447,764 | 453/036 | 477,895 63
Excluding defense :
Shipments 124,771 | 125,275 | 127,785 04 < +11 | 127,704 | 126,205 +8
New orders 122/282 | 123,456 | 1231158 10 | +02]  -44 | 125033 | 125273 | 117;708 +62
Unfilled orders 319,789 | 322/278 | 324,097 “08 + =14 | 321,660 | 324/331 | 340,113 34
With unfilled orders :
Shipments 105,697 | 105,843 | 108,197 0.1 22] +19] 105,432] 103,974 | 100,433 +5.0
New orders 101,669 | 103,390 | 103,229 17 | +02] 38] 100,160 | 102,088 | 97,038 43.2
Primary metals :
Shipments ILI71 | 11,390 | 11,680 ~ 5 4] 11428} 17 | 11,756 28
10986 | 11196 | 12/015, “19 68) 3.1 10,969 | 11435 | 117455 42
Untied orders u 23,179 | 23/364 | 23,558 + 0. +a] 23,725] 24184] — 21;710 493
Industrial machinery and equipment:
23,281 | 22,903 | 23,819 +43 | 22,864] 22,504 | 20,234] +13.0
23/386 | 23,002 | 23.475 | +17 +12 | 23,190 | 223362 | 19,728 | +175
Unfilled order 50,811 | 50,706 | 50,607 02 07 | 50,966 x 52,156 -23
Electronic and other
electrical equipment :
Shipments . 18,775 | 18,596 | 18,756 | +1.0 09] +18] 18465] 17,808] 16,745 | +103
orders... 18438 | 18/857 | 17,881 22] +55 0.0} 17853 | 18682 | 16,705 +69
Dablled Srueis 42454 | 42°791 | 42/530 08 | +06] 20] 42902} 43514] 42,361 413
‘Transportation equipmen :
Shipments 34,287 | 35,189 | 36,264 26 +08} 36926 | 36,734 | 34,404 473
orders 31509 | 32:290 | 32,891 24 -92 | 33307 | 33,801 | _32:273 432
Uatited Grdeis’ 22 237,186 | 239,964 | 242/863 -12 214 | 237468 | 241,087 | 267,087 “11d
CAPITAL GOODS INDUSTRIES?
Total :
40,177 | 39,748 | 41,264] +14 +37 | 38,933 | 37,800] 36,894 45.5
36,642 | 37,794 | 37,199 30] +16] 65 | 34517] 35420 | 33,848 42.0
338,152 | 341,687 | 343.641 “1.0 + 71.2 | 338404 | 342'820 | 371,654 89
Nondefense :
Shipments... 32,664 | 32,233 | 33,512 | +13 +46} 31,674 | 30,812 | 29,176 48.6
New orders | 30,668 | 30,913 | _29:788 08 -109 | 291859 | 293386 | _29:083, 427
Unfilled orders 212114 | 214,110 | 215,430 0.9 -L7| 212300 | 2147115 | 233,872 92
Excluding aircraft and parts :
Shipments . . -. | 27,080 | 26,7 27,770 1 38 2 25,366 | 23,452 | +117
New orders - 26917 | 27,445 | 27/338 “19 | 404] +10} 26,203 | 26001 | 23241 | +127
Unfilled orders 717345 | 71,708 | 70,967 *0. +ro] + n 7713 | 73,142 -19
Defense :
Shipments . . 7,513 7,515 1,182 0.0 -0.1 7259 6,988 uw
New orders 51974 6;881 Tait | 13-2 +165 47658 6,034 4,765
Unfilled orders’ 126,038 | 127/577 | 128211 -12 +03 | 126104 | 128,705 | 137,78

(NA) Not available. * Revised,

" Shipments and new orders are the tals forthe period and are adjusted for trading-day and calendar-month variations; unfilled orders are as of the end of the period and are not adjusted for trading-day or calendar-month variations
2 Based on advance sample
"The Capita Goats Industries include Nondeense = ordnance and azcestories, seam engine and turbines, intemal combustion engines, construction mining snd marist handling equipment, Ieaing machinery, sil te
machinery, general industrial machinery, computer and office equipment, refrigeration, heating and service industry machinery, electrical and
complete ara, mises, and space vehicles, area missiles, and space vehicle engines and pars, ships and tank components, raload eupmen and Search and navigation equpment
[Defense capital goods include ; ordnance, communication equipment, aircraft, missiles, space vehicles, and parts, ships, tanks and tank components, search and navigation equipment.

Table 2. AVERAGE REVISIONS TO PREVIOUSLY PUBLISHED MONTHLY PERCENT CHANGES
(Based on seasonally adjusted data)

Shipments New Orders Unfilled Orders

Industry Year ago May | May 1992-| _ Year ago May | May 1992-| Year ago May | May 1992-

May 1992 | 1988-1992 | Apr. 1993| May 1992| 1988-1992| Apr. 1993] May 1992] 1988-1992 Apr. 1993

Durable goods 97 03 04 3.6 09 06 oa 4 0.1

Primary metals . 0a 03 23 15 12 04

Industrial machinery and equipment . . 08 09 08 14 15 10 03 02 02
Electronic and other

electrical equipment . . 12 07 06 0s 08 06 ou o1 01

‘Transportation equipment 14 04 09 127 3.0 22 07 03 02

Nondefense capital goods « . 22 09 09 86 3.6 20 03 03 02

Defense capital goods. 78 18 US 49.4 11.0 76 14 03 03

+ The revisions are the differences between the month-to-month percent changes of the advance and final estimates, The monthly averages are the simple averages of the differences, without regard t
for the months specified