FOR IMMEDIATE RELEASE 

WEDNESDAY, JUNE 25, 2014, AT 8:30 A.M. EDT 

Chris Savage or Adriana Stoica 

Manufacturing and Construction Division 

(301) 763-4832 

M3-1 (14)-05 

CB14-116

Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders 

May 2014 

New Orders 

 New orders for manufactured durable goods in May 

decreased $2.4 billion or 1.0 percent to $238.0 billion, 

the U.S. Census Bureau announced today. This 

decrease, down following three consecutive monthly 

increases, followed a 0.8 percent April increase. 

Excluding transportation, new orders decreased 0.1 

percent. Excluding defense, new orders increased 0.6 

percent. 

 

 Transportation equipment, also down following three 

consecutive monthly increases, led the decrease, $2.3 

billion or 3.0 percent to $74.4 billion. 

Shipments 

 Shipments of manufactured durable goods in May, up 

four consecutive months, increased $0.6 billion or 0.3 

percent to $238.6 billion. This was at the highest level 

since the series was first published on a NAICS basis in 

1992 and followed a slight April increase. 

 Primary metals, up three consecutive months, led the 

increase, $0.4 billion or 1.6 percent to $27.0 billion. 

 

Unfilled Orders 

 Unfilled orders for manufactured durable goods in 

May, up thirteen of the last fourteen months, increased 

$6.6 billion or 0.6 percent to $1,087.4 billion. This was 

at the highest level since the series was first published on 

a NAICS basis and followed a 0.9 percent April 

increase. 

 Transportation equipment, up eight of the last nine 

months, led the increase, $4.6 billion or 0.7 percent to 

$675.8 billion.

Inventories 

 

 Inventories of manufactured durable goods in May, up 

thirteen of the last fourteen months, increased $3.8 

billion or 1.0 percent to $397.8 billion. This was at the 

highest level since the series was first published on a 

NAICS basis and followed a 0.3 percent April increase. 

 Transportation equipment, also up thirteen of the last 

fourteen months, led the increase, $1.4 billion or 1.1 

percent to $127.8 billion. 

Capital Goods 

 Nondefense new orders for capital goods in May 

decreased $0.4 billion or 0.5 percent to $82.1 billion. 

Shipments decreased $0.5 billion or 0.7 percent to $75.9 

billion. Unfilled orders increased $6.2 billion or 0.9 

percent to $662.7 billion. Inventories increased $2.5 

billion or 1.4 percent to $181.7 billion. 

 Defense new orders for capital goods in May 

decreased $4.0 billion or 31.4 percent to $8.8 billion. 

Shipments decreased $0.2 billion or 2.3 percent to $9.4 

billion. Unfilled orders decreased $0.6 billion or 0.4 

percent to $158.9 billion. Inventories increased slightly 

or 0.1 percent to $23.6 billion. 

Revised April Data 

 Revised seasonally adjusted April figures for all 

manufacturing industries were: new orders, $500.3 

billion (revised from $499.8 billion); shipments, $497.9 

billion (revised from $497.6 billion); unfilled orders, 

$1,080.8 billion (revised from $1,080.6 billion); and 

total inventories $646.1 billion (revised from $645.8 

billion). 

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

manufacturing. For data, call (301) 763-4673 or go to <http://www.census.gov/m3>. Revised and more detailed estimates, plus 

nondurable goods data, will be published on July 2, 2014, at 10:00 a.m. EDT. The Advance Report on durable goods for June is scheduled 

for release on July 25, 2014, at 8:30 a.m. EDT. See back page for survey description. To receive the latest updates on the Nation's key 

economic indicators, download the America's Economy app for Apple and Android smartphones and tablets. The U.S. Census Bureau 

updated its Application Programming Interface (API) with monthly and quarterly economic indicators. The API allows developers to combine Census Bureau statistics with other data sets to create tools for research on a variety of topics.
 2

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

May Apr Mar Apr - Mar - Feb - May Apr May Change

2014 2 2014 r 2014 May 2 Apr r Mar 2014 2 2014 r 2013 2014 2013 2014/2013

DURABLE GOODS

 Total:

 Shipments................................ 238,637 238,002 237,969 0.3 0.0 1.4 242,976 238,755 237,367 1,164,994 1,124,121 3.6

 New Orders4.............................. 238,008 240,439 238,420 -1.0 0.8 3.7 239,246 234,564 235,905 1,159,732 1,112,932 4.2

 Excluding transportation:

 Shipments................................ 168,801 168,247 167,767 0.3 0.3 1.5 171,399 169,982 165,183 822,346 791,713 3.9

 New Orders4.............................. 163,597 163,756 163,054 -0.1 0.4 3.0 166,932 165,612 161,749 810,060 783,083 3.4

 Excluding defense:

 Shipments................................ 227,092 226,163 226,097 0.4 0.0 1.3 231,472 227,844 225,369 1,108,339 1,066,152 4.0

 New Orders4.............................. 226,502 225,074 226,857 0.6 -0.8 3.1 229,897 221,192 228,096 1,105,328 1,066,653 3.6

 Manufacturing with unfilled orders:

 Shipments................................ 166,871 166,970 166,823 -0.1 0.1 1.6 170,497 165,352 167,099 815,452 787,315 3.6

 New Orders.............................. 173,520 177,007 175,006 -2.0 1.1 4.8 172,369 170,526 171,262 847,208 809,507 4.7

 Primary metals:

 Shipments................................ 26,998 26,566 26,156 1.6 1.6 1.4 27,964 27,625 25,826 133,869 127,167 5.3

 New Orders.............................. 27,301 26,793 26,590 1.9 0.8 2.8 27,620 27,807 26,503 136,391 130,624 4.4

 Fabricated metal products:

 Shipments................................ 29,632 29,442 29,554 0.6 -0.4 0.4 30,660 30,041 30,386 145,233 142,924 1.6

 New Orders.............................. 29,925 29,826 28,874 0.3 3.3 0.3 31,065 30,662 30,632 149,321 154,242 -3.2

 Machinery:

 Shipments................................ 36,096 35,871 36,274 0.6 -1.1 3.0 37,236 36,412 35,925 177,237 171,051 3.6

 New Orders.............................. 36,762 36,876 37,773 -0.3 -2.4 4.3 37,756 38,445 35,687 187,317 175,159 6.9

 Computers and electronic products4

:

 Shipments................................ 28,525 28,859 28,804 -1.2 0.2 1.2 26,197 28,251 25,663 136,843 131,334 4.2

 New Orders.............................. 21,781 22,164 22,533 -1.7 -1.6 7.2 20,505 20,298 20,934 104,531 101,562 2.9

 Computers and related products:

 Shipments................................ 2,360 2,418 2,222 -2.4 8.8 3.3 2,016 1,749 1,920 9,950 10,021 -0.7

 New Orders.............................. 2,590 2,365 2,246 9.5 5.3 4.7 2,246 1,696 1,926 9,960 10,258 -2.9

 

 Communications equipment:

 Shipments................................ 3,666 3,840 3,786 -4.5 1.4 1.4 3,564 3,376 3,957 17,810 18,637 -4.4

 New Orders.............................. 3,842 4,297 4,642 -10.6 -7.4 9.6 3,591 4,036 4,950 20,734 21,304 -2.7

 Electrical equipment, appliances, 

 and components: 

 Shipments................................ 10,140 10,153 10,329 -0.1 -1.7 1.7 10,418 10,012 10,758 49,962 50,640 -1.3

 New Orders.............................. 10,362 10,689 10,603 -3.1 0.8 3.5 10,864 10,443 11,219 52,297 51,999 0.6

 Transportation equipment: 

 Shipments................................ 69,836 69,755 70,202 0.1 -0.6 1.0 71,577 68,773 72,184 342,648 332,408 3.1

 New Orders.............................. 74,411 76,683 75,366 -3.0 1.7 5.2 72,314 68,952 74,156 349,672 329,849 6.0

 Motor vehicles and parts:

 Shipments................................ 46,948 45,968 46,276 2.1 -0.7 0.1 49,159 46,626 47,700 231,334 224,078 3.2

 New Orders.............................. 46,975 46,015 46,332 2.1 -0.7 0.3 49,134 46,437 47,601 231,572 224,171 3.3 

 Nondefense aircraft and parts:

 Shipments................................ 11,190 11,888 12,053 -5.9 -1.4 4.0 10,509 10,750 12,259 54,262 50,127 8.2

 New Orders.............................. 14,974 15,594 16,840 -4.0 -7.4 12.3 12,185 8,968 17,145 61,337 60,129 2.0

 Defense aircraft and parts:

 Shipments................................ 4,630 4,677 4,704 -1.0 -0.6 7.3 4,610 4,151 4,550 21,931 22,255 -1.5

 New Orders.............................. 4,892 4,620 4,017 5.9 15.0 -9.6 4,080 3,384 2,926 19,652 15,660 25.5

 All other durable goods: 

 Shipments................................ 37,410 37,356 36,650 0.1 1.9 1.2 38,924 37,641 36,625 179,202 168,597 6.3

 New Orders.............................. 37,466 37,408 36,681 0.2 2.0 1.6 39,122 37,957 36,774 180,203 169,497 6.3

 Capital goods3

:

 Shipments................................ 85,334 86,090 86,527 -0.9 -0.5 2.3 85,366 82,674 86,189 414,511 403,006 2.9

 New Orders.............................. 90,924 95,342 92,295 -4.6 3.3 10.5 87,375 87,623 89,787 433,353 420,282 3.1

 Nondefense capital goods:

 Shipments................................ 75,927 76,459 77,022 -0.7 -0.7 2.5 75,918 73,683 76,392 368,222 355,674 3.5

 New Orders.............................. 82,139 82,544 83,037 -0.5 -0.6 9.7 80,404 76,156 83,244 389,013 383,023 1.6

 Excluding aircraft:

 Shipments........................... 68,454 68,164 68,440 0.4 -0.4 2.2 68,907 66,228 67,064 331,628 321,968 3.0

 New Orders.......................... 70,684 70,196 70,995 0.7 -1.1 4.7 70,798 69,746 69,035 349,863 339,649 3.0

 Defense capital goods:

 Shipments................................ 9,407 9,631 9,505 -2.3 1.3 0.2 9,448 8,991 9,797 46,289 47,332 -2.2

 New Orders.............................. 8,785 12,798 9,258 -31.4 38.2 18.8 6,971 11,467 6,543 44,340 37,259 19.0

r

 Revised data due to late receipts and concurrent seasonal adjustment.

1

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

shipments and new orders include adjusted data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, 

as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes.

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

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

methodology, and data limitations, see http://www.census.gov/manufacturing/m3.

3

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

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

other machinery; electronic computers; computer storage devices; other computer peripheral equipment; communications equipment; search and navigation equipment; electromedical, measuring, and 

control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and boats; office and institutional furniture; and 

medical equipment and supplies.

 Defense Capital Goods include : small arms and ordnance, communications equipment, aircraft; missiles, space vehicles, and parts, ships and boats, and search and navigation equipment.

4 Estimates of shipments for the semiconductor industry are no longer shown separately. 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. 
 3

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

May Apr Mar Apr - Mar - Feb - May Apr May 2014/

2014 2 2014 r 2014 May 2 Apr r Mar 2014 2 2014 r 2013 2013

DURABLE GOODS

 Total:

 Unfilled Orders4......................... 1,087,413 1,080,764 1,070,727 0.6 0.9 0.8 1,092,034 1,090,162 1,013,056 7.8

 Total Inventories....................... 397,829 394,041 392,990 1.0 0.3 0.2 401,877 396,100 380,438 5.6

 Excluding transportation:

 Unfilled Orders4......................... 411,635 409,561 406,452 0.5 0.8 0.7 418,569 417,434 396,086 5.7

 Total Inventories....................... 270,058 267,688 267,205 0.9 0.2 0.1 272,701 268,805 263,623 3.4

 Excluding defense:

 Unfilled Orders4........................... 898,473 891,785 885,274 0.7 0.7 1.0 903,381 899,354 814,392 10.9

 Total Inventories....................... 368,884 365,147 363,820 1.0 0.4 0.2 372,812 367,019 352,500 5.8

 Manufacturing with unfilled orders:

 Unfilled Orders......................... 1,087,413 1,080,764 1,070,727 0.6 0.9 0.8 1,092,034 1,090,162 1,013,056 7.8

 Total Inventories....................... 326,036 322,982 321,877 0.9 0.3 0.2 329,621 324,882 311,123 5.9

 Primary metals:

 Unfilled Orders......................... 37,696 37,393 37,166 0.8 0.6 1.2 38,575 38,919 35,584 8.4

 Total Inventories....................... 36,176 35,868 35,620 0.9 0.7 -0.3 36,398 35,995 35,048 3.9

 Fabricated metal products:

 Unfilled Orders......................... 85,364 85,071 84,687 0.3 0.5 -0.8 87,885 87,480 90,270 -2.6

 Total Inventories....................... 49,089 48,886 48,857 0.4 0.1 0.3 49,606 49,263 47,633 4.1

 Machinery: 

 Unfilled Orders......................... 116,004 115,338 114,333 0.6 0.9 1.3 117,827 117,307 105,898 11.3

 Total Inventories....................... 66,670 66,179 65,843 0.7 0.5 -0.4 67,527 66,648 67,019 0.8

 Computers and electronic products4

:

 Unfilled Orders......................... 140,935 140,401 139,496 0.4 0.6 1.1 141,677 141,767 134,271 5.5

 Total Inventories....................... 48,754 47,605 47,922 2.4 -0.7 0.2 49,257 47,515 46,756 5.3

 Computers and related products:

 Unfilled Orders......................... 3,399 3,169 3,222 7.3 -1.6 0.8 3,399 3,169 3,464 -1.9

 Total Inventories....................... 4,663 4,707 4,695 -0.9 0.3 2.1 4,861 4,676 4,738 2.6 

 Communications equipment:

 Unfilled Orders......................... 38,130 37,954 37,497 0.5 1.2 2.3 38,451 38,424 33,097 16.2

 Total Inventories....................... 7,787 7,744 7,787 0.6 -0.6 0.7 7,755 7,616 7,374 5.2

 Electrical equipment, appliances, 

 and components: 

 Unfilled Orders......................... 24,138 23,916 23,380 0.9 2.3 1.2 24,625 24,179 22,333 10.3

 Total Inventories....................... 16,626 16,581 16,575 0.3 0.0 -0.8 16,842 16,726 16,897 -0.3

 Transportation equipment: 

 Unfilled Orders......................... 675,778 671,203 664,275 0.7 1.0 0.8 673,465 672,728 616,970 9.2

 Total Inventories....................... 127,771 126,353 125,785 1.1 0.5 0.5 129,176 127,295 116,815 10.6

 Motor vehicles and parts:

 Unfilled Orders......................... 16,545 16,518 16,471 0.2 0.3 0.3 16,754 16,779 16,878 -0.7

 Total Inventories....................... 26,243 26,454 26,362 -0.8 0.3 0.6 26,211 26,566 25,118 4.4 

 Nondefense Aircraft and parts:

 Unfilled Orders......................... 504,698 500,914 497,208 0.8 0.7 1.0 502,783 501,107 441,358 13.9

 Total Inventories....................... 72,207 70,603 69,927 2.3 1.0 0.5 73,679 71,337 63,427 16.2

 Defense Aircraft and parts: 

 Unfilled Orders......................... 62,418 62,156 62,213 0.4 -0.1 -1.1 62,232 62,762 65,764 -5.4

 Total Inventories....................... 14,215 14,170 14,174 0.3 0.0 -0.3 14,289 14,231 13,917 2.7

 All other durable goods: 

 Unfilled Orders......................... 7,498 7,442 7,390 0.8 0.7 0.4 7,980 7,782 7,730 3.2

 Total Inventories....................... 52,743 52,569 52,388 0.3 0.3 0.8 53,071 52,658 50,270 5.6

 Capital goods3:

 Unfilled Orders......................... 821,630 816,040 806,788 0.7 1.1 0.7 823,287 821,278 758,490 8.5

 Total Inventories....................... 205,346 202,820 201,967 1.2 0.4 0.2 208,160 203,801 195,495 6.5

 Nondefense capital goods:

 Unfilled Orders......................... 662,708 656,496 650,411 0.9 0.9 0.9 664,662 660,176 590,620 12.5

 Total Inventories....................... 181,740 179,229 178,068 1.4 0.7 0.1 184,508 180,084 172,993 6.7

 Excluding aircraft: 

 Unfilled Orders.................... 242,966 240,736 238,704 0.9 0.9 1.1 246,880 244,989 225,520 9.5

 Total Inventories................... 121,625 120,895 120,408 0.6 0.4 0.0 122,903 121,049 120,853 1.7

 Defense capital goods:

 Unfilled Orders......................... 158,922 159,544 156,377 -0.4 2.0 -0.2 158,625 161,102 167,870 -5.5

 Total Inventories....................... 23,606 23,591 23,899 0.1 -1.3 0.6 23,652 23,717 22,502 5.1

See footnotes at end of Table 1 
4

Survey Description 

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

and Orders (M3) survey. This survey provides statistics on 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). The M3 includes approximately 4,300 reporting units. Units may be 

divisions of diversified large companies, large homogenous companies, or single-unit manufacturers in 89 

industry categories. Due to the small monthly sample, these 89 categories have been combined into 65

publication levels. The survey methodology assumes that the month-to-month changes of the total 

operations of those companies in the monthly survey effectively represent the month-to-month movements 

of all establishments that make up the category. The current coverage levels in the survey show that 

reported data in the monthly survey represent approximately 60 percent of the shipments estimates at the 

total manufacturing level. Data published represent manufacturing in a calendar month. The data 

collection is based on a voluntary survey authorized by Title 13 of the United States Code. 

The data presented in this release are based on data obtained from a panel of 4,300 reporting units and 

provide an indication of the activity within the manufacturing sector. The results differ from what would 

be obtained from a complete enumeration of all manufacturing companies. In addition, a different panel of 

4,300 companies would yield different results. The M3 panel is comprised of companies with $500 

million or more in shipments and a limited number of smaller companies. From a statistical perspective, 

the panel is not a probability sample; therefore, the sampling errors that are normally provided with sample 

surveys cannot be measured. Nonsampling errors are attributable to many sources. The use of company or 

divisional reports to estimate the monthly change for establishments is one source of nonsampling error. 

The use of primarily large companies to represent the month-to-month movement of all companies is 

another potential source. Any corrections will be published in the full report. Corrections received after 

the full report will be released in the next month’s advance report. Any revisions made later than two 

months will be reflected in the annual benchmark publication.

Additional survey documentation can be found on our web site: http://www.census.gov/m3.