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FOR RELEASE AT 10:00 AM EDT, WEDNESDAY, JULY 5, 2023

MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS 

MAY 2023

Release Number: CB 23-100 M3-2 (23)-05 

July 5, 2023 — The U.S. Census Bureau announces the May full report on manufacturers’ shipments, 

inventories and orders:

MANUFACTURED GOODS – NEW ORDERS

MAY 2023 $578.0 billion +0.3%°

April 2023 

(revised) $576.4 billion +0.3%°

Next release: August 3, 2023

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, July 5, 2023. 

Summary

New orders for manufactured goods in May, up five of the last six months, increased $1.6 billion or 0.3 

percent to $578.0 billion, the U.S. Census Bureau reported today. This followed a 0.3 percent April

increase. Shipments, up following three consecutive monthly decreases, increased $1.6 billion or 0.3 

percent to $572.6 billion. This followed a 0.6 percent April decrease. Unfilled orders, up five of the last six

months, increased $10.5 billion or 0.8 percent to $1,301.9 billion. This followed a 0.8 percent April

increase. The unfilled orders-to-shipments ratio was 6.65, down from 6.71 in April. Inventories, down 

three of the last four months, decreased $1.7 billion or 0.2 percent to $853.8 billion. This followed a 0.3 

percent April increase. The inventories-to-shipments ratio was 1.49, down from 1.50 in April. 

New Orders

New orders for manufactured durable goods in May, up three consecutive months, increased $5.0 billion 

or 1.8 percent to $288.4 billion, up from the previously published 1.7 percent increase. This followed a 1.2

percent April increase. Transportation equipment, also up three consecutive months, led the increase, 

$3.8 billion or 3.8 percent to $102.5 billion. New orders for manufactured nondurable goods decreased 

$3.5 billion or 1.2 percent to $289.6 billion. 

1.6%

-1.6%

-0.1%

0.1%

0.9%

-2.4%

1.0%

0.0%

-1.7%

0.6%

0.3% 0.3%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

MANUFACTURERS' NEW ORDERS 2022-2023

Seasonally Adjusted, Month-To-Month Percentage Change

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, July 5, 2023.
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Shipments

Shipments of manufactured durable goods in May, up two of the last three months, increased $5.1 billion 

or 1.8 percent to $283.0 billion, up from the previously published 1.7 percent increase. This followed a 0.6 

percent April decrease. Transportation equipment, also up two of the last three months, led the increase, 

$4.2 billion or 4.8 percent to $91.8 billion. Shipments of manufactured nondurable goods, down six of the 

last seven months, decreased $3.5 billion or 1.2 percent to $289.6 billion. This followed a 0.7 percent April

decrease. Petroleum and coal products, also down six of the last seven months, led the decrease, $3.2

billion or 5.0 percent to $61.4 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in May, up five of the last six months, increased $10.5 

billion or 0.8 percent to $1,301.9 billion, unchanged from the previously published increase. This followed 

a 0.8 percent April increase. Transportation equipment, also up five of the last six months, drove the 

increase, $10.6 billion or 1.3 percent to $803.8 billion.

Inventories

Inventories of manufactured durable goods in May, up five of the last six months, increased $1.3 billion or 

0.2 percent to $523.0 billion, unchanged from the previously published increase. This followed a 1.0

percent April increase. Machinery, up thirty-one consecutive months, led the increase, $0.6 billion or 0.6

percent to $94.5 billion. Inventories of manufactured nondurable goods, down six of the last seven

months, decreased $3.0 billion or 0.9 percent to $330.8 billion. This followed a 0.6 percent April decrease. 

Petroleum and coal products, also down six of the last seven months, led the decrease, $2.0 billion or 4.4

percent to $44.3 billion. By stage of fabrication, May materials and supplies increased 0.3 percent in 

durable goods and decreased 0.9 percent in nondurable goods. Work in process decreased 0.4 percent in

durable goods and 1.9 percent in nondurable goods. Finished goods increased 0.9 percent in durable

goods and decreased 0.5 percent in nondurable goods. 

The Advance Report on durable goods for June is scheduled for release on July 27, 2023, at 8:30 a.m. EDT 

and the Full Report on August 3, 2023, 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.

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

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

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

Description of the survey 

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

and Orders (M3) survey, which is a voluntary survey authorized by Title 13 of the United States Code. This 

survey provides statistics on a calendar-month basis for manufacturers' value of shipments, new orders 

(net of cancellations), end-of-month order backlog (unfilled orders), end-of-month total inventory (at 

current cost or market value), and inventories by stage of fabrication (materials and supplies, work-inprocess, and finished goods). Data published from the M3 survey are based on a panel of approximately 

5,000 reporting units that represent approximately 3,100 companies and provide an indication of monthto-month change for the Manufacturing Sector. These reporting units may be divisions of diversified large 

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

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

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

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

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

approximately 60 percent of the total value of shipments for manufacturing establishments in the 2017

Economic Census, and these companies include roughly 61 percent of the manufacturing companies with 

$500 million or more in shipments in the 2017 Economic Census. The companies for which shipments data 

are currently reported in the M3 survey represent approximately 51 percent of the total value of 

shipments for manufacturing establishments in the 2017 Economic Census. Statistics based on the M3 

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

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

normally provided with sample surveys cannot be measured. Nonsampling errors are attributable to many 
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sources. The use of company or divisional reports to estimate the monthly change for establishments is 

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

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

report. Corrections received after the full report will be released in the next month’s advance report. 

Any revisions made later than two months will be reflected in the annual benchmark publication. 

Additional survey documentation can be found on our web site: 

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

Benchmark notice

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

issued on May 12, 2023. These revisions result from

• Benchmarking the M3 shipments and inventories data to the 2021 and 2020 Annual Survey of 

Manufactures (ASM) data; 

• Incorporating the unfilled orders to shipments ratios obtained for 2021, 2020, and 2019 from the 

Manufacturers’ Unfilled Orders (M3UFO) Survey;

• 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 spanned the seasonally adjusted data for January 2012 through March 2023 and the data 

not seasonally adjusted for January 2017 through March 2023. An updated Press Release contains revised 

monthly tables for January 2023 through March 2023.

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 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

May Apr. Mar. Apr. - Mar. - Feb. - May Apr. Mar. May 2023/

2023p 2023r 2023 May Apr. Mar. 2023p 2023r 2023 2022 2023p 2022 2022

 All manufacturing industries.................. 572,592 571,029 574,737 0.3 -0.6 -0.6 587,932 557,840 613,157 593,579 2,834,764 2,791,244 1.6

 Excluding transportation................... 480,775 483,376 485,681 -0.5 -0.5 -1.1 496,071 475,310 510,404 512,861 2,398,252 2,398,223 0.0

 Excluding defense.............................. 557,119 555,414 559,647 0.3 -0.8 -0.6 572,871 543,055 596,399 579,684 2,760,833 2,723,001 1.4

 With unfilled orders............................ 195,721 192,445 194,075 1.7 -0.8 1.0 199,136 185,156 213,275 189,137 952,483 911,283 4.5

 Durable goods industries......................... 282,974 277,924 279,659 1.8 -0.6 0.7 287,561 267,057 306,705 272,586 1,373,763 1,314,005 4.5

 Wood products....................................... 13,315 13,285 13,423 0.2 -1.0 0.0 14,524 13,843 13,814 14,952 66,037 68,168 -3.1

 Nonmetallic mineral products.................... 13,266 13,136 13,097 1.0 0.3 -0.9 14,087 12,728 13,315 13,469 63,427 61,675 2.8

 Primary metals....................................... 26,811 26,772 26,802 0.1 -0.1 0.1 28,078 26,647 29,219 28,686 136,076 137,430 -1.0

 Iron and steel mills............................ 14,917 14,926 14,955 -0.1 -0.2 0.7 15,852 14,817 16,265 15,654 75,507 73,629 2.6

 Aluminum and nonferrous metals.......... 10,238 10,190 10,155 0.5 0.3 -0.5 10,452 10,165 11,047 11,335 51,970 55,893 -7.0

 Ferrous metal foundries....................... 1,656 1,656 1,692 0.0 -2.1 -2.5 1,774 1,665 1,907 1,697 8,599 7,908 8.7

 Fabricated metal products....................... 35,289 35,246 35,374 0.1 -0.4 0.1 36,915 34,629 37,437 36,660 175,184 175,952 -0.4

 Machinery............................................. 37,800 37,579 37,271 0.6 0.8 -0.4 39,066 36,722 41,317 37,163 186,312 179,306 3.9

 Farm machinery................................. 2,537 2,465 2,395 2.9 2.9 0.9 2,690 2,883 2,780 3,526 13,109 17,636 -25.7

 Construction machinery..................... 4,348 4,181 4,217 4.0 -0.9 2.7 4,600 4,281 4,769 3,800 21,434 17,678 21.2

 Mining, oil field, and 

 gas field machinery.......................... 1,817 1,767 1,671 2.8 5.7 -12.2 1,807 1,661 1,774 1,455 8,518 6,868 24.0

 Industrial machinery.......................... 3,347 3,593 3,761 -6.8 -4.5 -1.9 3,195 3,324 4,214 3,601 17,258 17,683 -2.4

 Photographic equipment...................... 660 636 624 3.8 1.9 2.1 678 539 732 589 3,022 2,937 2.9

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............ 4,878 4,740 4,672 2.9 1.5 -1.3 5,416 4,527 5,126 4,822 23,016 21,486 7.1

 Metalworking machinery..................... 2,783 2,854 2,715 -2.5 5.1 -5.1 2,760 2,615 2,966 2,764 13,529 13,597 -0.5

 Turbines, generators, and other

 power transmission equipment....... 4,148 4,096 4,081 1.3 0.4 6.4 4,249 4,021 4,152 3,564 19,847 17,592 12.8

 Material handling equipment............... 4,043 3,927 3,823 3.0 2.7 1.7 4,204 3,751 4,364 3,616 19,597 18,054 8.5

 Computers and electronic products2.......... 29,199 29,107 29,238 0.3 -0.4 -0.6 27,368 26,418 30,932 26,972 138,125 134,041 3.0

 Computers........................................ 843 811 792 3.9 2.4 -1.6 836 770 760 755 3,699 3,381 9.4

 Computer storage devices..................... 435 420 378 3.6 11.1 5.6 371 384 481 307 1,833 1,618 13.3

 Other peripheral equipment................ 760 826 827 -8.0 -0.1 8.1 633 651 910 475 3,514 2,377 47.8

 Nondefense communications

 equipment.................................... 2,768 2,833 2,884 -2.3 -1.8 -2.3 2,509 2,458 3,388 2,652 13,084 13,078 0.0

 Defense communications equipment.... 208 206 203 1.0 1.5 -1.0 195 200 209 185 975 931 4.7

 Audio and video equipment.................... 480 378 377 27.0 0.3 2.4 471 312 325 419 1,834 2,107 -13.0

 Electronic components......................... 4,651 4,554 4,700 2.1 -3.1 -3.3 4,745 4,288 5,111 4,756 23,009 22,505 2.2

 Nondefense search and navigation

 equipment...................................... 1,652 1,645 1,622 0.4 1.4 0.1 1,622 1,479 1,824 1,561 7,890 7,713 2.3

 Defense search and navigation

 equipment..................................... 3,293 3,250 3,197 1.3 1.7 -0.3 3,237 3,151 3,415 3,081 15,533 15,089 2.9

 Electromedical, measuring,

 and control instruments................. 8,852 8,900 8,862 -0.5 0.4 1.4 8,282 8,157 9,782 8,172 41,591 40,888 1.7

 Electrical equipment, appliances, 

 and components................................... 14,043 13,907 14,067 1.0 -1.1 0.9 14,296 13,352 15,464 13,134 68,236 62,473 9.2

 Electric lighting equipment..................... 1,290 1,275 1,275 1.2 0.0 0.5 1,353 1,230 1,351 1,229 6,226 5,829 6.8

 Household appliances........................ 2,346 2,311 2,330 1.5 -0.8 -1.3 2,413 2,156 2,625 2,383 11,255 11,246 0.1

 Electrical equipment............................ 4,577 4,549 4,578 0.6 -0.6 1.6 4,634 4,300 5,254 4,058 22,403 19,072 17.5

 Batteries........................................... 1,294 1,331 1,413 -2.8 -5.8 8.2 1,267 1,237 1,488 901 6,243 4,497 38.8

 Transportation equipment........................ 91,817 87,653 89,056 4.8 -1.6 2.6 91,861 82,530 102,753 80,718 436,512 393,021 11.1

 Automobiles..................................... 9,145 8,887 8,885 2.9 0.0 2.3 9,430 8,457 10,826 7,659 43,883 38,972 12.6

 Light trucks and utility vehicles.............. 21,653 20,564 20,698 5.3 -0.6 0.5 21,024 18,810 24,355 19,185 102,353 93,228 9.8

 Heavy duty trucks ............................. 2,987 2,884 2,661 3.6 8.4 -5.8 3,127 2,731 3,051 2,368 14,282 11,533 23.8

 Motor vehicle bodies, parts, 

 and trailers.................................... 28,871 28,868 29,010 0.0 -0.5 -0.1 30,189 28,239 32,274 28,900 146,766 140,224 4.7

 Nondefense aircraft and parts................ 13,675 10,694 12,512 27.9 -14.5 22.6 12,694 9,323 15,274 8,352 53,935 40,245 34.0

 Defense aircraft and parts.................. 4,836 4,922 4,666 -1.7 5.5 -0.3 4,721 4,473 5,177 4,348 22,619 21,244 6.5

 Ships and boats................................. 3,769 3,821 3,854 -1.4 -0.9 0.1 3,992 3,802 4,252 3,739 19,159 17,210 11.3

 Furniture and related products.................. 6,849 6,812 6,880 0.5 -1.0 -0.2 6,883 6,592 7,012 6,864 33,539 33,040 1.5

 Miscellaneous durable goods................. 14,585 14,427 14,451 1.1 -0.2 0.0 14,483 13,596 15,442 13,968 70,315 68,899 2.1

 Nondurable goods industries..................... 289,618 293,105 295,078 -1.2 -0.7 -1.8 300,371 290,783 306,452 320,993 1,461,001 1,477,239 -1.1

 Food products....................................... 79,414 79,675 80,121 -0.3 -0.6 -0.2 79,587 77,878 81,715 79,963 393,507 390,546 0.8

 Grain and oilseed milling....................... 9,781 9,919 10,062 -1.4 -1.4 -1.5 9,821 9,496 10,384 10,003 49,624 48,746 1.8

 Dairy products.................................. 11,572 11,656 11,782 -0.7 -1.1 -0.3 11,740 11,415 11,944 11,989 57,773 57,089 1.2

 Meat, poultry, and seafood products... 24,056 24,071 24,209 -0.1 -0.6 0.2 24,780 23,883 24,599 25,892 119,282 122,836 -2.9

 Beverage and tobacco products................ 17,441 17,243 17,205 1.1 0.2 2.7 18,027 17,294 17,165 16,195 83,764 73,750 13.6

 Beverages......................................... 10,675 10,690 10,698 -0.1 -0.1 -1.2 11,261 10,741 10,658 10,566 51,987 48,488 7.2

 Tobacco............................................ 6,766 6,553 6,507 3.3 0.7 9.8 6,766 6,553 6,507 5,629 31,777 25,262 25.8

 Textile mills........................................... 2,126 2,119 2,116 0.3 0.1 -1.5 2,183 2,130 2,218 2,315 10,637 11,355 -6.3

 Textile products................................... 1,987 1,996 2,010 -0.5 -0.7 -1.6 2,073 2,049 2,079 2,215 10,050 10,400 -3.4

 Apparel................................................ 872 884 840 -1.4 5.2 -2.1 822 766 798 768 4,026 3,842 4.8

 Leather and allied products...................... 478 484 493 -1.2 -1.8 -2.4 501 507 503 502 2,463 2,174 13.3

 Paper products...................................... 17,469 17,444 17,568 0.1 -0.7 0.2 18,001 16,802 18,303 17,620 86,875 85,445 1.7

 Pulp, paper, and paperboard mills....... 6,953 7,033 7,036 -1.1 0.0 0.0 7,152 6,841 7,219 6,907 34,842 33,201 4.9

 Paperboard containers........................ 6,370 6,234 6,327 2.2 -1.5 0.2 6,461 5,916 6,693 6,281 31,116 31,261 -0.5

 Printing................................................. 7,196 7,251 7,305 -0.8 -0.7 -1.4 7,257 6,993 7,544 7,246 35,618 34,459 3.4

 Petroleum and coal products.................. 61,437 64,647 65,424 -5.0 -1.2 -6.8 66,523 66,235 65,545 89,752 325,339 362,381 -10.2

 Petroleum refineries.......................... 56,567 59,873 60,674 -5.5 -1.3 -7.3 61,277 61,737 61,089 84,797 303,422 341,831 -11.2

 Chemical products..................................... 76,780 76,967 77,455 -0.2 -0.6 -0.6 79,736 76,064 84,395 78,312 386,305 378,217 2.1

 Pesticides, fertilizers, and other

 agricultural chemicals....................... 3,714 3,743 3,949 -0.8 -5.2 0.5 4,120 4,368 5,422 4,444 21,843 22,643 -3.5

 Pharmaceuticals and medicines............. 24,434 24,387 24,476 0.2 -0.4 -0.7 24,993 23,150 25,624 22,771 119,210 108,355 10.0

 Paints, coatings, and adhesives.......... 4,103 4,048 4,114 1.4 -1.6 -2.7 4,609 4,230 4,531 4,546 20,915 20,983 -0.3

 Plastics and rubber products.................. 24,418 24,395 24,541 0.1 -0.6 -1.0 25,661 24,065 26,187 26,105 122,417 124,670 -1.8

Year to date

p

 Preliminary 

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

1

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

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

parameters. Estimates are not adjusted for price changes. 

2

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

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. 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

May Apr. Mar. Apr. - Mar. - Feb. - May Apr. Mar. May 2023/

2023p 2023r 2023 May Apr. Mar. 2023p 2023r 2023 2022 2023p 2022 2022

All manufacturing industries2........................ 577,971 576,416 574,915 0.3 0.3 0.6 588,600 563,158 618,987 589,443 2,845,777 2,814,888 1.1

 Excluding transportation2...................... 475,510 477,747 480,758 -0.5 -0.6 -1.0 491,189 472,311 508,950 509,422 2,385,418 2,397,121 -0.5

 Excluding defense2.............................. 559,721 555,376 558,585 0.8 -0.6 0.5 573,930 542,751 598,440 577,584 2,762,408 2,750,385 0.4

 With unfilled orders2............................. 206,204 202,964 199,496 1.6 1.7 4.6 204,129 194,903 223,668 189,466 987,921 958,552 3.1

 Durable goods industries2......................... 288,353 283,311 279,837 1.8 1.2 3.3 288,229 272,375 312,535 268,450 1,384,776 1,337,649 3.5

 Primary metals........................................ 26,803 26,683 26,830 0.4 -0.5 0.5 27,914 26,312 29,408 28,629 136,744 140,076 -2.4

 Iron and steel mills.............................. 14,942 14,931 15,026 0.1 -0.6 1.1 15,899 14,678 16,505 15,695 76,157 75,149 1.3

 Aluminum and nonferrous metals.......... 10,200 10,057 10,103 1.4 -0.5 -0.1 10,281 9,903 11,035 11,220 51,934 56,515 -8.1

 Ferrous metal foundries....................... 1,661 1,695 1,701 -2.0 -0.4 -1.8 1,734 1,731 1,868 1,714 8,653 8,412 2.9

 Fabricated metal products........................ 35,238 35,219 35,290 0.1 -0.2 0.7 37,918 35,576 39,112 37,640 180,341 183,016 -1.5

 Machinery............................................. 37,764 37,299 37,160 1.2 0.4 -0.1 38,369 37,055 40,955 37,325 189,145 186,542 1.4

 Construction machinery........................ 4,377 4,365 4,263 0.3 2.4 16.3 4,348 4,510 4,684 3,605 21,323 18,783 13.5

 Mining, oil field, and

 gas field machinery.......................... 1,726 1,793 1,610 -3.7 11.4 -16.7 1,716 1,687 1,713 1,455 8,435 6,723 25.5

 Industrial machinery............................ 3,663 3,339 3,584 9.7 -6.8 -7.8 3,416 3,248 4,057 3,671 18,321 19,003 -3.6

 Photographic equipment....................... 657 673 727 -2.4 -7.4 1.0 622 523 765 576 3,233 2,808 15.1

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 4,825 4,698 4,940 2.7 -4.9 4.8 5,313 4,627 5,633 5,191 24,098 23,530 2.4

 Metalworking machinery....................... 2,600 2,742 2,650 -5.2 3.5 -8.5 2,537 2,622 2,730 2,643 13,521 13,939 -3.0

 Turbines, generators, and other 

 power transmission equipment........... 4,131 4,037 3,998 2.3 1.0 3.4 4,232 3,962 4,069 3,479 19,539 17,471 11.8

 Material handling equipment.................. 4,051 4,011 3,838 1.0 4.5 0.8 3,975 3,643 4,237 3,548 19,529 18,904 3.3

 Computers and electronic products2........... 24,043 23,970 24,409 0.3 -1.8 1.8 22,244 22,093 27,777 22,056 114,273 111,985 2.0

 Computers........................................ 808 805 809 0.4 -0.5 1.3 801 764 777 749 3,690 3,357 9.9

 Nondefense communications

 equipment...................................... 2,649 2,702 2,778 -2.0 -2.7 -4.1 2,207 2,310 3,376 2,617 12,606 13,445 -6.2

 Defense communications equipment....... 210 207 202 1.4 2.5 0.5 191 194 201 177 960 906 6.0

 Electronic components......................... 4,625 4,451 4,612 3.9 -3.5 -2.7 4,597 4,262 4,894 4,538 22,463 22,856 -1.7

 Nondefense search and navigation

 equipment...................................... 1,776 1,776 1,767 0.0 0.5 3.4 1,709 1,658 2,034 1,623 8,588 8,498 1.1

 Defense search and navigation

 equipment...................................... 3,305 3,336 3,616 -0.9 -7.7 12.7 2,909 3,250 4,520 2,739 16,078 14,552 10.5

 Electromedical, measuring,

 and control instruments..................... 8,842 8,917 8,890 -0.8 0.3 1.3 8,213 8,169 10,095 8,268 41,969 41,540 1.0

 Electrical equipment, appliances, 

 and components................................... 14,089 13,830 14,226 1.9 -2.8 0.4 14,358 13,500 15,573 13,363 69,811 65,652 6.3

 Electric lighting equipment..................... 1,356 1,331 1,323 1.9 0.6 2.1 1,333 1,240 1,435 1,150 6,315 5,844 8.1

 Household appliances.......................... 2,343 2,231 2,355 5.0 -5.3 -7.5 2,419 2,066 2,785 2,152 11,340 10,815 4.9

 Electrical equipment............................ 4,648 4,605 4,680 0.9 -1.6 3.5 4,765 4,556 5,099 4,473 23,532 22,076 6.6

 Transportation equipment........................ 102,461 98,669 94,157 3.8 4.8 9.8 97,411 90,847 110,037 80,021 460,359 417,767 10.2

 Motor vehicle bodies, parts, 

 and trailers..................................... 28,750 28,909 29,105 -0.6 -0.7 -0.9 29,399 27,953 32,045 28,374 147,071 140,843 4.4

 Nondefense aircraft and parts................ 21,825 16,432 16,776 32.8 -2.1 96.0 19,317 12,482 20,211 9,915 69,138 67,817 1.9

 Defense aircraft and parts.................... 4,978 7,711 5,836 -35.4 32.1 26.9 3,886 7,415 6,681 3,468 26,508 17,970 47.5

 Ships and boats.................................. 6,130 3,889 2,824 57.6 37.7 -18.7 4,844 3,486 4,460 3,468 21,730 17,484 24.3

 Furniture and related products................... 6,806 6,768 6,829 0.6 -0.9 -1.8 6,938 6,800 7,137 7,031 34,479 33,612 2.6

 Nondurable goods industries..................... 289,618 293,105 295,078 -1.2 -0.7 -1.8 300,371 290,783 306,452 320,993 1,461,001 1,477,239 -1.1

Year to date

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

1

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

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

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

2

 Data on new orders are not available for the semiconductor industry. Estimates and percent changes for new orders exclude semiconductor industry data. 

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. 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 May

May Apr. Mar. Apr. - Mar. - Feb. - May Apr. Mar. May 2023/

2023p 2023r 2023 May Apr. Mar. 2023p 2023r 2023 2022 2022

All manufacturing industries2...................... 1,301,945 1,291,462 1,280,943 0.8 0.8 0.4 1,305,734 1,300,741 1,290,994 1,236,623 5.6

 Excluding transportation2

...................... 498,194 498,355 498,852 0.0 -0.1 0.1 503,975 504,532 503,102 504,647 -0.1

 Excluding defense2............................. 1,058,070 1,050,364 1,045,270 0.7 0.5 0.4 1,061,568 1,056,184 1,052,059 1,012,620 4.8

 Durable goods industries2........................ 1,301,945 1,291,462 1,280,943 0.8 0.8 0.4 1,305,734 1,300,741 1,290,994 1,236,623 5.6

 Primary metals........................................ 37,720 37,728 37,817 0.0 -0.2 0.1 38,434 38,598 38,933 40,661 -5.5

 Iron and steel mills............................... 22,633 22,608 22,603 0.1 0.0 0.3 23,111 23,064 23,203 23,579 -2.0

 Aluminum and nonferrous metals............. 10,488 10,526 10,659 -0.4 -1.2 -0.5 10,673 10,844 11,106 12,456 -14.3

 Ferrous metal foundries........................ 4,599 4,594 4,555 0.1 0.9 0.2 4,650 4,690 4,624 4,626 0.5

 Fabricated metal products......................... 129,064 129,115 129,142 0.0 0.0 -0.1 131,581 130,578 129,631 133,529 -1.5

 Machinery.............................................. 140,033 140,069 140,349 0.0 -0.2 -0.1 141,190 141,887 141,554 138,897 1.7

 Construction machinery......................... 11,025 10,996 10,812 0.3 1.7 0.4 11,276 11,528 11,299 12,449 -9.4

 Mining, oil field, and

 gas field machinery.......................... 5,229 5,320 5,294 -1.7 0.5 -1.1 5,229 5,320 5,294 5,091 2.7

 Industrial machinery............................. 12,534 12,218 12,472 2.6 -2.0 -1.4 12,746 12,525 12,601 11,343 12.4

 Photographic equipment........................ 4,133 4,136 4,099 -0.1 0.9 2.6 4,054 4,110 4,126 3,495 16.0

 Ventilation, heating, air-conditioning,

 and refrigeration equipment................ 13,618 13,671 13,713 -0.4 -0.3 2.0 14,034 14,137 14,037 12,107 15.9

 Metalworking machinery........................ 9,686 9,869 9,981 -1.9 -1.1 -0.6 9,776 9,999 9,992 10,563 -7.5

 Turbines, generators, and other 

 power transmission equipment............ 31,820 31,837 31,896 -0.1 -0.2 -0.3 31,820 31,837 31,896 32,204 -1.2

 Material handling equipment................... 19,449 19,441 19,357 0.0 0.4 0.1 19,172 19,401 19,509 17,888 7.2

 Computers and electronic products2

............. 134,518 134,570 134,575 0.0 0.0 0.3 134,963 135,762 135,658 134,227 0.5

 Computers......................................... 1,274 1,309 1,315 -2.7 -0.5 1.3 1,274 1,309 1,315 1,303 -2.2

 Nondefense communications

 equipment...................................... 17,008 17,127 17,258 -0.7 -0.8 -0.6 17,069 17,371 17,519 17,928 -4.8

 Defense communications equipment........ 236 234 233 0.9 0.4 -0.4 231 235 241 259 -10.8

 Electronic components.......................... 16,911 16,937 17,040 -0.2 -0.6 -0.5 16,965 17,113 17,139 17,839 -4.9

 Nondefense search and navigation

 equipment....................................... 31,069 30,945 30,814 0.4 0.4 0.5 31,077 30,990 30,811 29,591 5.0

 Defense search and navigation

 equipment....................................... 35,958 35,946 35,860 0.0 0.2 1.2 36,068 36,396 36,297 35,557 1.4

 Electromedical, measuring,

 and control instruments...................... 32,062 32,072 32,055 0.0 0.1 0.1 32,279 32,348 32,336 31,750 1.7

 Electrical equipment, appliances, 

 and components.................................... 43,457 43,411 43,488 0.1 -0.2 0.4 43,990 43,928 43,780 42,656 3.1

 Electric lighting equipment..................... 3,870 3,804 3,748 1.7 1.5 1.3 3,792 3,812 3,802 3,261 16.3

 Household appliances........................... 4,629 4,632 4,712 -0.1 -1.7 0.5 4,665 4,659 4,749 4,230 10.3

 Electrical equipment............................. 22,553 22,482 22,426 0.3 0.2 0.5 22,873 22,742 22,486 22,827 0.2

 Transportation equipment......................... 803,751 793,107 782,091 1.3 1.4 0.7 801,759 796,209 787,892 731,976 9.5

 Motor vehicle bodies, parts, 

 and trailers...................................... 35,011 35,132 35,091 -0.3 0.1 0.3 35,246 36,036 36,322 36,524 -3.5

 Nondefense aircraft and parts................ 548,297 540,147 534,409 1.5 1.1 0.8 545,918 539,295 536,136 494,134 10.5

 Defense aircraft and parts..................... 70,971 70,829 68,040 0.2 4.1 1.7 71,191 72,026 69,084 62,534 13.8

 Ships and boats.................................. 57,417 55,056 54,988 4.3 0.1 -1.8 57,757 56,905 57,221 52,909 9.2

 Furniture and related products................... 11,267 11,310 11,354 -0.4 -0.4 -0.4 11,682 11,627 11,419 12,419 -5.9

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

1

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

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

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

2

 Data on unfilled orders are not available for the semiconductor industry. Estimates and percent changes for unfilled orders exclude semiconductor industry data. 

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

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

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

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

CBDRB-FY23-0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. 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 May

May Apr. Mar. Apr. - Mar. - Feb. - May Apr. Mar. May 2023/

2023p 2023r 2023 May Apr. Mar. 2023p 2023r 2023 2022 2022

 All manufacturing industries...................... 853,770 855,448 852,572 -0.2 0.3 -0.8 859,517 861,345 853,605 856,905 0.3

 Excluding transportation........................ 689,600 691,361 693,484 -0.3 -0.3 -0.3 694,578 696,723 695,309 693,537 0.2

 Excluding defense............................. 824,362 826,140 823,536 -0.2 0.3 -0.9 829,973 831,963 824,588 828,717 0.2

 With unfilled orders............................. 422,660 421,777 416,897 0.2 1.2 -1.1 426,127 424,394 417,259 416,599 2.3

 Durable goods industries........................ 522,995 521,711 516,694 0.2 1.0 -1.0 527,178 524,688 517,086 516,038 2.2

 Wood products........................................ 16,170 16,156 16,164 0.1 0.0 -0.5 15,935 16,183 16,577 16,503 -3.4

 Nonmetallic mineral products..................... 17,109 17,021 16,885 0.5 0.8 -0.1 17,461 17,316 17,143 16,369 6.7

 Primary metals......................................... 46,851 46,622 46,589 0.5 0.1 -0.5 47,383 47,134 46,639 48,719 -2.7

 Iron and steel mills............................... 27,427 27,284 27,195 0.5 0.3 -0.5 27,560 27,475 27,211 28,789 -4.3

 Aluminum and nonferrous metals............ 16,277 16,226 16,291 0.3 -0.4 -0.6 16,616 16,471 16,261 16,878 -1.6

 Ferrous metal foundries........................ 3,147 3,112 3,103 1.1 0.3 0.4 3,207 3,188 3,167 3,052 5.1

 Fabricated metal products......................... 64,713 64,566 64,674 0.2 -0.2 -0.1 65,500 65,143 64,946 65,703 -0.3

 Machinery.............................................. 94,535 93,969 93,761 0.6 0.2 0.2 95,326 94,322 94,822 87,658 8.7

 Farm machinery.................................. 5,657 5,670 5,841 -0.2 -2.9 -0.9 5,710 5,724 6,104 6,066 -5.9

 Construction machinery......................... 9,406 9,354 9,319 0.6 0.4 -0.7 9,493 9,583 9,571 8,467 12.1

 Mining, oil field, 

 and gas field machinery.................... 5,868 5,796 5,806 1.2 -0.2 -0.3 5,937 5,792 5,747 5,149 15.3

 Industrial machinery............................. 11,291 11,147 11,098 1.3 0.4 -0.1 11,327 10,709 11,447 10,282 10.2

 Photographic equipment....................... 1,477 1,474 1,470 0.2 0.3 1.7 1,488 1,499 1,429 1,429 4.1

 Ventilation, heating, air-conditioning,

 and refrigeration equipment............... 9,533 9,412 9,260 1.3 1.6 0.8 9,959 9,892 9,700 8,266 20.5

 Metalworking machinery........................ 7,373 7,396 7,420 -0.3 -0.3 0.3 7,405 7,395 7,365 7,089 4.5

 Turbines, generators, and other

 power transmission equipment............ 11,841 11,829 11,825 0.1 0.0 0.5 11,971 11,941 11,868 10,977 9.1

 Material handling equipment.................. 8,212 8,049 7,917 2.0 1.7 0.5 8,198 8,005 7,835 7,025 16.7

 Computers and electronic products2............ 55,059 55,065 55,215 0.0 -0.3 -0.3 55,583 55,327 54,512 54,693 1.6

 Computers......................................... 1,954 2,019 1,993 -3.2 1.3 1.8 1,995 1,956 1,897 2,159 -7.6

 Computer storage devices.................... 618 643 646 -3.9 -0.5 3.5 626 623 589 686 -8.7

 Other peripheral equipment................... 1,042 1,039 1,028 0.3 1.1 0.0 1,090 1,037 995 1,015 7.4

 Nondefense communications

 equipment...................................... 4,394 4,401 4,409 -0.2 -0.2 -0.4 4,464 4,488 4,302 4,399 1.5

 Defense communications equipment........ 624 641 610 -2.7 5.1 -0.5 624 641 610 605 3.1

 Audio and video equipment.................... 839 859 862 -2.3 -0.3 0.5 853 895 867 857 -0.5

 Electronic components.......................... 10,686 10,697 10,874 -0.1 -1.6 -2.0 10,625 11,029 10,914 11,280 -5.8

 Nondefense search and navigation

 equipment...................................... 4,185 4,182 4,167 0.1 0.4 -0.3 4,178 4,182 4,106 3,919 6.6

 Defense search and navigation

 equipment....................................... 3,336 3,344 3,351 -0.2 -0.2 0.4 3,408 3,391 3,347 3,442 -1.0

 Electromedical, measuring 

 and control instruments...................... 19,082 19,011 19,049 0.4 -0.2 0.3 19,436 19,049 18,875 18,372 5.8

 Electrical equipment, appliances, 

 and components.................................... 26,211 26,086 26,091 0.5 0.0 0.8 26,717 26,488 26,292 25,276 5.7

 Electric lighting equipment..................... 2,533 2,504 2,545 1.2 -1.6 -0.5 2,533 2,498 2,511 2,514 0.8

 Household appliances........................... 3,620 3,586 3,599 0.9 -0.4 0.9 3,680 3,636 3,617 3,809 -3.4

 Electrical equipment............................. 9,629 9,602 9,589 0.3 0.1 1.0 9,959 9,825 9,607 9,039 10.2

 Batteries............................................ 1,886 1,883 1,862 0.2 1.1 1.7 1,996 1,960 1,968 1,958 1.9

 Transportation equipment......................... 164,170 164,087 159,088 0.1 3.1 -3.0 164,939 164,622 158,296 163,368 1.0

 Automobiles....................................... 5,888 5,794 5,667 1.6 2.2 -0.9 5,759 5,644 5,444 5,639 2.1

 Light trucks and utility vehicles.............. 9,620 9,462 9,404 1.7 0.6 -3.2 9,992 9,612 9,150 10,053 -0.6

 Heavy duty trucks ............................... 2,889 2,940 2,963 -1.7 -0.8 1.9 2,971 2,979 2,977 2,829 5.0

 Motor vehicle bodies, parts, 

 and trailers...................................... 35,139 35,233 35,156 -0.3 0.2 -0.5 35,282 35,671 35,311 35,075 0.6

 Nondefense aircraft and parts................ 77,569 77,766 73,226 -0.3 6.2 -5.8 77,805 77,804 72,793 78,504 -0.9

 Defense aircraft and parts..................... 14,186 14,088 14,052 0.7 0.3 0.9 14,213 14,116 13,986 13,820 2.8

 Ships and boats.................................. 4,594 4,564 4,553 0.7 0.2 -3.3 4,637 4,565 4,596 4,521 2.6

 Furniture and related products.................... 10,448 10,433 10,504 0.1 -0.7 0.0 10,522 10,387 10,390 10,471 0.5

 Miscellaneous durable goods..................... 27,729 27,706 27,723 0.1 -0.1 -0.1 27,812 27,766 27,469 27,278 2.0

 Nondurable goods industries...................... 330,775 333,737 335,878 -0.9 -0.6 -0.7 332,339 336,657 336,519 340,867 -2.5

 Food products........................................ 71,739 72,140 72,466 -0.6 -0.4 0.0 69,728 71,099 71,802 68,134 2.3

 Grain and oilseed milling........................ 7,669 7,874 7,961 -2.6 -1.1 -0.7 7,379 7,943 8,113 7,726 -4.5

 Dairy products.................................... 10,941 10,944 10,862 0.0 0.8 1.0 11,255 11,223 10,968 10,579 6.4

 Meat, poultry, and seafood products....... 13,240 13,348 13,386 -0.8 -0.3 0.0 13,044 13,246 13,322 13,032 0.1

 Beverage and tobacco products................ 31,010 31,046 31,299 -0.1 -0.8 0.7 31,029 31,479 31,513 30,935 0.3

 Beverages......................................... 27,298 27,335 27,588 -0.1 -0.9 0.8 27,392 27,750 27,711 27,191 0.7

 Tobacco............................................ 3,712 3,711 3,711 0.0 0.0 -0.1 3,637 3,729 3,802 3,744 -2.9

 Textile mills............................................ 3,615 3,600 3,612 0.4 -0.3 -0.2 3,627 3,590 3,594 3,635 -0.2

 Textile products...................................... 3,714 3,756 3,784 -1.1 -0.7 -0.6 3,692 3,734 3,789 3,895 -5.2

 Apparel................................................. 2,196 2,222 2,267 -1.2 -2.0 -0.8 2,198 2,161 2,172 2,115 3.9

 Leather and allied products....................... 1,285 1,283 1,310 0.2 -2.1 -1.1 1,296 1,279 1,297 1,191 8.8

 Paper products....................................... 18,354 18,392 18,429 -0.2 -0.2 -0.1 18,373 18,406 18,362 18,281 0.5

 Pulp, paper, and paperboard mills........... 5,723 5,713 5,696 0.2 0.3 0.2 5,753 5,737 5,744 5,540 3.8

 Paperboard containers......................... 6,987 7,010 6,992 -0.3 0.3 0.1 6,953 6,948 6,913 6,766 2.8

 Printing.................................................. 7,011 7,019 6,987 -0.1 0.5 -1.6 6,859 6,987 6,932 6,895 -0.5

 Petroleum and coal products..................... 44,282 46,298 47,456 -4.4 -2.4 -5.1 46,743 48,689 47,559 57,777 -19.1

 Petroleum refineries............................. 37,338 39,246 40,314 -4.9 -2.6 -6.0 39,676 41,546 40,332 50,877 -22.0

 Chemical products..................................... 113,139 113,379 113,501 -0.2 -0.1 0.1 114,251 114,382 114,452 113,377 0.8

 Pesticides, fertilizers, and other

 agricultural chemicals........................ 6,084 6,003 5,942 1.3 1.0 -0.1 6,066 6,126 6,278 6,044 0.4

 Pharmaceuticals and medicines.............. 47,243 47,512 47,825 -0.6 -0.7 0.5 47,912 47,978 48,199 47,028 1.9

 Paints, coatings, and adhesives.............. 5,881 5,913 5,912 -0.5 0.0 -0.8 5,942 6,099 6,064 5,699 4.3

 Plastics and rubber products..................... 34,430 34,602 34,767 -0.5 -0.5 0.4 34,543 34,851 35,047 34,632 -0.3

p Preliminary 

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

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

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

parameters. Estimates are not adjusted for price changes. 

2

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

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. 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

May Apr. Mar. Apr. - Mar. - Feb. - May Apr. Mar. May 2023/

2023p 2023r 2023 May Apr. Mar. 2023p 2023r 2023 2022 2023p 2022 2022

SHIPMENTS

 All manufacturing industries......................... 572,592 571,029 574,737 0.3 -0.6 -0.6 587,932 557,840 613,157 593,579 2,834,764 2,791,244 1.6

 Construction materials and supplies....... 62,102 61,605 61,789 0.8 -0.3 -0.3 66,712 61,200 64,021 65,770 302,566 302,978 -0.1

 Information technology......................... 24,640 24,498 24,390 0.6 0.4 0.4 23,605 22,669 26,736 22,903 115,822 112,677 2.8

 Computers and related products........... 2,038 2,057 1,997 -0.9 3.0 3.6 1,840 1,805 2,151 1,537 9,046 7,376 22.6

 Motor vehicle and parts......................... 62,656 61,203 61,254 2.4 -0.1 0.2 63,770 58,237 70,506 58,112 307,284 283,957 8.2

 Capital goods...................................... 96,361 93,565 94,479 3.0 -1.0 2.1 95,100 88,483 105,757 87,282 456,529 425,020 7.4

 Nondefense capital goods3.................. 83,186 80,229 81,589 3.7 -1.7 2.6 82,238 75,734 91,437 75,364 392,984 366,122 7.3

 Excluding aircraft............................. 74,082 73,837 73,479 0.3 0.5 -0.2 73,879 70,392 81,044 70,573 360,448 343,940 4.8

 Defense capital goods4........................ 13,175 13,336 12,890 -1.2 3.5 -0.7 12,862 12,749 14,320 11,918 63,545 58,898 7.9

 Consumer goods.................................. 240,998 242,800 244,229 -0.7 -0.6 -1.8 247,639 238,571 254,404 262,969 1,205,451 1,201,977 0.3

 Consumer durable goods..................... 46,402 44,768 44,932 3.6 -0.4 0.6 46,440 42,082 51,489 42,347 221,984 207,114 7.2

 Consumer nondurable goods................ 194,596 198,032 199,297 -1.7 -0.6 -2.3 201,199 196,489 202,915 220,622 983,467 994,863 -1.1

 All manufacturing industries5...................... 577,971 576,416 574,915 0.3 0.3 0.6 588,600 563,158 618,987 589,443 2,845,777 2,814,888 1.1

 Construction materials and supplies....... 61,924 61,353 61,929 0.9 -0.9 0.1 67,460 61,980 65,976 66,926 307,461 310,112 -0.9

 Information technology......................... 24,523 24,524 24,979 0.0 -1.8 2.2 22,843 22,755 28,414 22,781 117,424 114,357 2.7

 Computers and related products........... 2,003 2,051 2,014 -2.3 1.8 4.8 1,805 1,799 2,168 1,531 9,037 7,352 22.9

 Motor vehicle and parts......................... 62,535 61,244 61,349 2.1 -0.2 -0.2 62,980 57,951 70,277 57,586 307,589 284,576 8.1

 Capital goods...................................... 107,122 104,100 99,006 2.9 5.1 9.4 101,135 98,088 113,508 87,620 484,682 461,066 5.1

 Nondefense capital goods3.................. 91,220 85,450 85,285 6.8 0.2 9.8 88,193 79,686 95,869 77,359 412,564 404,916 1.9

 Excluding aircraft............................. 74,102 73,577 73,034 0.7 0.7 -0.6 73,155 71,065 80,632 70,942 364,886 354,930 2.8

 Defense capital goods4........................ 15,902 18,650 13,721 -14.7 35.9 6.9 12,942 18,402 17,639 10,261 72,118 56,150 28.4

 Consumer goods.................................. 241,009 242,771 244,182 -0.7 -0.6 -1.9 247,571 238,522 254,494 262,656 1,205,698 1,201,663 0.3

 Consumer durable goods..................... 46,413 44,739 44,885 3.7 -0.3 0.2 46,372 42,033 51,579 42,034 222,231 206,800 7.5

 Consumer nondurable goods.............. 194,596 198,032 199,297 -1.7 -0.6 -2.3 201,199 196,489 202,915 220,622 983,467 994,863 -1.1

 All manufacturing industries5...................... 1,301,945 1,291,462 1,280,943 0.8 0.8 0.4 1,305,734 1,300,741 1,290,994 1,236,623 (X) (X) 5.6

 Construction materials and supplies....... 100,118 100,296 100,548 -0.2 -0.3 0.1 102,642 101,894 101,114 102,386 (X) (X) 0.3

 Information technology......................... 134,145 134,262 134,236 -0.1 0.0 0.4 134,712 135,474 135,388 132,221 (X) (X) 1.9

 Computers and related products........... 1,274 1,309 1,315 -2.7 -0.5 1.3 1,274 1,309 1,315 1,303 (X) (X) -2.2

 Motor vehicle and parts......................... 35,011 35,132 35,091 -0.3 0.1 0.3 35,246 36,036 36,322 36,524 (X) (X) -3.5

 Capital goods...................................... 962,215 951,454 940,919 1.1 1.1 0.5 962,039 956,004 946,399 895,075 (X) (X) 7.5

 Nondefense capital goods3.................. 748,651 740,617 735,396 1.1 0.7 0.5 748,224 742,269 738,317 694,499 (X) (X) 7.7

 Excluding aircraft............................. 273,150 273,130 273,390 0.0 -0.1 -0.2 275,118 275,842 275,169 273,668 (X) (X) 0.5

 Defense capital goods4........................ 213,564 210,837 205,523 1.3 2.6 0.4 213,815 213,735 208,082 200,576 (X) (X) 6.6

 Consumer goods.................................. 12,044 12,033 12,062 0.1 -0.2 -0.4 12,125 12,193 12,242 12,081 (X) (X) 0.4

 Consumer durable goods..................... 12,044 12,033 12,062 0.1 -0.2 -0.4 12,125 12,193 12,242 12,081 (X) (X) 0.4 

 All manufacturing industries....................... 853,770 855,448 852,572 -0.2 0.3 -0.8 859,517 861,345 853,605 856,905 (X) (X) 0.3

 Construction materials and supplies....... 93,180 92,946 92,855 0.3 0.1 0.0 94,308 94,313 94,216 92,386 (X) (X) 2.1

 Information technology......................... 46,263 46,292 46,248 -0.1 0.1 0.4 46,879 46,497 45,771 44,999 (X) (X) 4.2

 Computers and related products........... 3,614 3,701 3,667 -2.4 0.9 1.6 3,711 3,616 3,481 3,860 (X) (X) -3.9

 Motor vehicle and parts......................... 53,536 53,429 53,190 0.2 0.4 -0.9 54,004 53,906 52,882 53,596 (X) (X) 0.8

 Capital goods...................................... 249,847 249,558 244,528 0.1 2.1 -1.6 251,622 249,946 244,223 241,747 (X) (X) 4.1

 Nondefense capital goods3.................. 225,663 225,427 220,666 0.1 2.2 -1.8 227,329 225,769 220,314 218,624 (X) (X) 4.0

 Excluding aircraft............................. 161,852 161,363 161,191 0.3 0.1 0.3 163,545 161,828 161,301 153,717 (X) (X) 6.4

 Defense capital goods4........................ 24,184 24,131 23,862 0.2 1.1 0.1 24,293 24,177 23,909 23,123 (X) (X) 5.1

 Consumer goods.................................. 252,360 254,905 257,063 -1.0 -0.8 -1.0 253,572 256,907 256,136 262,570 (X) (X) -3.4

 Consumer durable goods..................... 42,854 42,615 42,639 0.6 -0.1 -1.1 43,079 42,565 41,933 43,271 (X) (X) -0.4

 Consumer nondurable goods................ 209,506 212,290 214,424 -1.3 -1.0 -1.0 210,493 214,342 214,203 219,299 (X) (X) -4.0

NEW ORDERS 

UNFILLED ORDERS 

TOTAL INVENTORIES 

X

 Not Applicable 

p

 Preliminary 

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

1

 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for noncalendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates 

are not adjusted for price changes. 

2 Topical series are regroupings of the separate industry categories. 

3

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

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

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

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

4

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

5 Estimates and percent changes exclude semiconductor industry data. 

6

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

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. 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 May

May Apr. Mar. Apr. - Mar. - Feb. - May Apr. Mar. May 2023/

2023p 2023r 2023 May Apr. Mar. 2023p 2023r 2023 2022 2022

MATERIALS AND SUPPLIES

 All manufacturing industries....................... 315,330 315,748 316,441 -0.1 -0.2 -0.3 315,821 316,501 316,227 314,310 0.5

 Durable goods industries.......................... 197,789 197,139 196,706 0.3 0.2 0.1 197,947 197,285 196,205 191,355 3.4

 Wood products................................... 7,774 7,798 7,806 -0.3 -0.1 0.6 7,454 7,589 7,844 7,661 -2.7

 Nonmetallic mineral products................. 7,738 7,688 7,704 0.7 -0.2 -0.1 7,797 7,735 7,752 7,111 9.6

 Primary metals.................................... 19,014 19,098 19,243 -0.4 -0.8 1.7 19,073 19,112 18,988 19,676 -3.1

 Fabricated metal products.......................... 24,596 24,447 24,559 0.6 -0.5 -0.1 24,599 24,327 24,488 25,948 -5.2

 Machinery.......................................... 40,523 40,643 40,247 -0.3 1.0 -0.3 40,743 40,814 40,264 37,682 8.1

 Computers and electronic products........ 26,622 26,524 26,419 0.4 0.4 0.1 26,826 26,505 26,013 24,905 7.7

 Electrical equipment, appliances,

 and components............................... 12,696 12,643 12,621 0.4 0.2 0.5 12,874 12,793 12,694 11,891 8.3

 Transportation equipment..................... 43,640 43,110 42,878 1.2 0.5 -0.3 43,342 43,222 43,042 41,783 3.7

 Furniture and related products............... 5,382 5,362 5,407 0.4 -0.8 0.2 5,450 5,396 5,446 5,305 2.7

 Miscellaneous products......................... 9,804 9,826 9,822 -0.2 0.0 0.3 9,789 9,792 9,674 9,393 4.2

 Nondurable goods industries...................... 117,541 118,609 119,735 -0.9 -0.9 -0.8 117,874 119,216 120,022 122,955 -4.1

 Food products.................................... 26,176 26,285 26,539 -0.4 -1.0 -0.2 25,705 25,901 26,382 25,558 0.6

 Beverage and tobacco products........................ 6,389 6,376 6,391 0.2 -0.2 1.7 6,366 6,453 6,513 6,237 2.1

 Textiles.............................................. 1,457 1,450 1,447 0.5 0.2 -0.6 1,467 1,451 1,446 1,428 2.7

 Textile products................................... 1,724 1,726 1,726 -0.1 0.0 0.5 1,717 1,712 1,723 1,685 1.9

 Apparel............................................. 569 566 612 0.5 -7.5 -1.0 569 556 597 632 -10.0

 Leather and allied products.................... 387 395 403 -2.0 -2.0 -1.2 393 395 398 393 0.0

 Paper products.................................... 9,684 9,720 9,733 -0.4 -0.1 0.0 9,626 9,631 9,671 9,483 1.5

 Printing ............................................. 3,562 3,604 3,596 -1.2 0.2 -2.7 3,493 3,590 3,575 3,549 -1.6

 Petroleum and coal products................. 12,739 13,292 14,013 -4.2 -5.1 -4.4 13,381 14,032 14,098 18,559 -27.9

 Chemical products................................ 39,467 39,731 39,646 -0.7 0.2 -0.3 39,840 40,081 39,992 39,822 0.0

 Plastics and rubber products.................. 15,387 15,464 15,629 -0.5 -1.1 -0.9 15,317 15,414 15,627 15,609 -1.9

WORK IN PROCESS

 All manufacturing industries....................... 239,332 241,269 237,636 -0.8 1.5 -2.2 241,082 243,113 237,749 240,368 0.3

 Durable goods industries.......................... 177,333 178,073 174,000 -0.4 2.3 -2.6 178,689 178,822 174,033 179,750 -0.6

 Wood products................................... 1,855 1,866 1,848 -0.6 1.0 -0.4 1,837 1,872 1,890 2,150 -14.6

 Nonmetallic mineral products................. 1,683 1,661 1,644 1.3 1.0 0.6 1,745 1,720 1,698 1,630 7.1

 Primary metals.................................... 12,665 12,571 12,477 0.7 0.8 -3.4 12,853 12,754 12,511 13,607 -5.5

 Fabricated metal products.......................... 16,689 16,681 16,738 0.0 -0.3 0.1 16,959 16,905 16,890 16,306 4.0

 Machinery.......................................... 24,656 24,376 24,802 1.1 -1.7 2.3 24,973 24,226 25,177 23,655 5.6

 Computers and electronic products........ 13,527 13,696 13,874 -1.2 -1.3 -1.6 13,743 14,047 13,936 15,103 -9.0

 Electrical equipment, appliances,

 and components............................... 4,583 4,555 4,544 0.6 0.2 0.3 4,706 4,629 4,544 4,665 0.9

 Transportation equipment..................... 95,434 96,448 91,828 -1.1 5.0 -4.7 95,602 96,455 91,215 96,511 -0.9

 Furniture and related products............... 1,484 1,466 1,467 1.2 -0.1 -0.3 1,473 1,425 1,445 1,458 1.0

 Miscellaneous products......................... 4,757 4,753 4,778 0.1 -0.5 0.4 4,798 4,789 4,727 4,665 2.9

 Nondurable goods industries...................... 61,999 63,196 63,636 -1.9 -0.7 -1.3 62,393 64,291 63,716 60,618 2.9

 Food products.................................... 7,640 7,733 7,869 -1.2 -1.7 -1.0 7,139 7,445 7,796 7,327 -2.6

 Beverage and tobacco products........................ 11,068 11,042 11,008 0.2 0.3 1.3 10,956 11,073 11,025 10,541 3.9

 Textiles.............................................. 576 580 584 -0.7 -0.7 0.2 578 581 580 628 -8.0

 Textile products................................... 468 474 470 -1.3 0.9 0.0 459 471 472 484 -5.2

 Apparel............................................. 281 277 271 1.4 2.2 -1.1 286 273 267 277 3.2

 Leather and allied products.................... 132 130 134 1.5 -3.0 1.5 134 131 138 132 1.5

 Paper products.................................... 1,611 1,632 1,651 -1.3 -1.2 -0.1 1,624 1,642 1,652 1,695 -4.2

 Printing ............................................. 1,219 1,193 1,164 2.2 2.5 -1.1 1,141 1,166 1,140 1,266 -9.9

 Petroleum and coal products................. 15,595 16,460 16,681 -5.3 -1.3 -4.5 16,551 17,644 16,915 15,442 7.2

 Chemical products................................ 19,466 19,771 19,956 -1.5 -0.9 -0.2 19,594 19,960 19,850 18,840 4.0

 Plastics and rubber products.................. 3,943 3,904 3,848 1.0 1.5 -0.8 3,931 3,905 3,881 3,986 -1.4

FINISHED GOODS

 All manufacturing industries....................... 299,108 298,431 298,495 0.2 0.0 -0.4 302,614 301,731 299,629 302,227 0.1

 Durable goods industries.......................... 147,873 146,499 145,988 0.9 0.4 -0.4 150,542 148,581 146,848 144,933 3.9

 Wood products................................... 6,541 6,492 6,510 0.8 -0.3 -1.9 6,644 6,722 6,843 6,692 -0.7

 Nonmetallic mineral products................. 7,688 7,672 7,537 0.2 1.8 -0.1 7,919 7,861 7,693 7,628 3.8

 Primary metals.................................... 15,172 14,953 14,869 1.5 0.6 -0.7 15,457 15,268 15,140 15,436 0.1

 Fabricated metal products.......................... 23,428 23,438 23,377 0.0 0.3 -0.1 23,942 23,911 23,568 23,449 2.1

 Machinery.......................................... 29,356 28,950 28,712 1.4 0.8 -0.9 29,610 29,282 29,381 26,321 12.5

 Computers and electronic products........ 14,910 14,845 14,922 0.4 -0.5 0.4 15,014 14,775 14,563 14,685 2.2

 Electrical equipment, appliances,

 and components............................... 8,932 8,888 8,926 0.5 -0.4 1.5 9,137 9,066 9,054 8,720 4.8

 Transportation equipment..................... 25,096 24,529 24,382 2.3 0.6 -0.8 25,995 24,945 24,039 25,074 3.7

 Furniture and related products............... 3,582 3,605 3,630 -0.6 -0.7 -0.3 3,599 3,566 3,499 3,708 -2.9

 Miscellaneous products......................... 13,168 13,127 13,123 0.3 0.0 -0.6 13,225 13,185 13,068 13,220 0.0

 Nondurable goods industries...................... 151,235 151,932 152,507 -0.5 -0.4 -0.3 152,072 153,150 152,781 157,294 -3.3

 Food products.................................... 37,923 38,122 38,058 -0.5 0.2 0.5 36,884 37,753 37,624 35,249 4.6

 Beverage and tobacco products........................ 13,553 13,628 13,900 -0.6 -2.0 -0.2 13,707 13,953 13,975 14,157 -3.2

 Textiles.............................................. 1,582 1,570 1,581 0.8 -0.7 0.1 1,582 1,558 1,568 1,579 0.2

 Textile products................................... 1,522 1,556 1,588 -2.2 -2.0 -1.9 1,516 1,551 1,594 1,726 -12.2

 Apparel............................................. 1,346 1,379 1,384 -2.4 -0.4 -0.6 1,343 1,332 1,308 1,206 11.4

 Leather and allied products.................... 766 758 773 1.1 -1.9 -1.5 769 753 761 666 15.5

 Paper products.................................... 7,059 7,040 7,045 0.3 -0.1 -0.1 7,123 7,133 7,039 7,103 0.3

 Printing ............................................. 2,230 2,222 2,227 0.4 -0.2 -0.1 2,225 2,231 2,217 2,080 7.0

 Petroleum and coal products................. 15,948 16,546 16,762 -3.6 -1.3 -6.3 16,811 17,013 16,546 23,776 -29.3

 Chemical products................................ 54,206 53,877 53,899 0.6 0.0 0.5 54,817 54,341 54,610 54,715 0.2

 Plastics and rubber products.................. 15,100 15,234 15,290 -0.9 -0.4 2.0 15,295 15,532 15,539 15,037 1.7

p

 Preliminary 

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

1

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

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

parameters. Estimates are not adjusted for price changes. 

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

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

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

0265). 

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. 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 May Apr Mar Feb May Apr Mar Feb

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

All manufacturing industries3.................................... 1.49 1.50 1.48 1.49 (X) (X) (X) (X)

Durable goods industries3........................................ 1.85 1.88 1.85 1.88 6.65 6.71 6.60 6.64

 Wood products........................................................... 1.21 1.22 1.20 1.21 (X) (X) (X) (X)

 Nonmetallic mineral products............................. 1.29 1.30 1.29 1.28 (X) (X) (X) (X)

 Primary metals............................................................ 1.75 1.74 1.74 1.75 1.41 1.41 1.41 1.41

 Fabricated metal products...................................... 1.83 1.83 1.83 1.83 3.75 3.76 3.75 3.75

 Machinery..................................................................... 2.50 2.50 2.52 2.50 4.07 4.09 4.13 4.12

 Computers and electronic products3

................... 1.89 1.89 1.89 1.88 6.04 6.06 6.05 5.99

 Electrical equipment, appliances,

 and components.................................................... 1.87 1.88 1.85 1.86 3.41 3.45 3.44 3.43

 Transportation equipment..................................... 1.79 1.87 1.79 1.89 13.85 14.34 13.77 14.21

 Furniture and related products............................ 1.53 1.53 1.53 1.52 1.91 1.92 1.91 1.91

 Miscellaneous products.......................................... 1.90 1.92 1.92 1.92 (X) (X) (X) (X)

Nondurable goods industries................................... 1.14 1.14 1.14 1.13 (X) (X) (X) (X)

 Food products............................................................. 0.90 0.91 0.90 0.90 (X) (X) (X) (X)

 Beverage and tobacco products........................... 1.78 1.80 1.82 1.85 (X) (X) (X) (X)

 Textiles.......................................................................... 1.70 1.70 1.71 1.68 (X) (X) (X) (X)

 Textile products......................................................... 1.87 1.88 1.88 1.86 (X) (X) (X) (X)

 Apparel........................................................................ 2.52 2.51 2.70 2.66 (X) (X) (X) (X)

 Leather and allied products................................ 2.69 2.65 2.66 2.62 (X) (X) (X) (X)

 Paper products.......................................................... 1.05 1.05 1.05 1.05 (X) (X) (X) (X)

 Printing........................................................................ 0.97 0.97 0.96 0.96 (X) (X) (X) (X)

 Petroleum and coal products............................... 0.72 0.72 0.73 0.71 (X) (X) (X) (X)

 Chemical products................................................... 1.47 1.47 1.47 1.46 (X) (X) (X) (X)

 Plastics and rubber products................................ 1.41 1.42 1.42 1.40 (X) (X) (X) (X)

May3 May3 May3 May3

Industry 2022- 2022- 2022- 2022-

May2 Apr May2 Apr May2 Apr May2 Apr

2023 2023 2023 2023 2023 2023 2023 2023

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

Durable goods industries....................... 0.1 0.2 0.1 0.4 0.0 0.0 0.0 0.1

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

 Nonmetallic mineral products.............. (X) 0.4 (X) (NA) (X) (NA) (X) 0.2

 Primary metals............................................. 0.0 0.3 -0.1 0.4 0.0 0.2 0.0 0.1

 Fabricated metal products.................... 0.0 0.2 0.1 0.4 0.0 0.1 0.0 0.1

 Machinery...................................................... 0.3 0.2 0.2 0.4 0.0 0.1 0.1 0.1

 Computers and electronic products..... 0.0 0.2 0.0 0.4 0.0 0.1 0.0 0.1

 Electrical equipment, appliances,

 and components..................................... 0.2 0.4 0.2 0.5 0.0 0.2 0.0 0.2

 Transportation equipment.................... 0.2 0.5 -0.1 1.2 -0.1 0.1 0.0 0.1

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

 Miscellaneous products.......................... (X) 0.3 (X) 0.3 (X) 0.1 (X) 0.1

Nondurable goods industries................... (X) 0.4 (X) (NA) (X) (NA) (X) 0.1

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

 Beverage and tobacco products............ (X) 0.3 (X) (NA) (X) (NA) (X) 0.1

 Textiles.......................................................... (X) 0.5 (X) (NA) (X) (NA) (X) 0.4

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

 Apparel......................................................... (X) 0.6 (X) (NA) (X) (NA) (X) 0.7

 Leather and allied products.................. (X) 1.0 (X) (NA) (X) (NA) (X) 0.8

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

 Printing.......................................................... (X) 0.5 (X) (NA) (X) (NA) (X) 0.3

 Petroleum and coal products............... (X) 1.3 (X) (NA) (X) (NA) (X) 0.5

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

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

X Not Applicable 

p

 Preliminary 

r

 Revised data due to late receipts and concurrent seasonal adjustment. 

2

 Excludes the following industries with no unfilled orders: Wood products; nonmetallic mineral products; medical equipment and supplies; office 

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

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

and miscellaneous furniture. 

3

 Unfilled orders to shipments ratio excludes semiconductor manufacturing. 

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

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

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

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. Information on data sources 

and methodology can be found on our website at <www.census.gov/manufacturing/m3/how the data are collected/index.html>. 

X Not Applicable 

NA Not Available 

1

 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total inventories are for 

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

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

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

2

 The current month revisions are the difference between the advance percent change and the percent change as shown in this publication. 

3

 The twelve month revisions are the differences between the month-to-month percent changes of the preliminary and final estimates. The 

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

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

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

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

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

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

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

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

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, May Full Report, July 5, 2023. 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