MANUFACTURERS' SHIPMENTS
INVENTORIES AND ORDERS
MARCH 1997

New orders for manufactured goods in March decreased $5.2 billion or 1.6 percent to $319.2 billion, the Department of Commerce, Bureau of the Census reported today. This follows a 0.4 percent February increase and is the first decline since December.

Excluding transportation, new orders decreased 1.2 percent, following a 1.5 percent February increase. Year-to-date, new orders are 5.7 percent above the same period a year ago; first quarter new orders are 1.0 percent above fourth quarter 1996.

Shipments, down for the first month since December, decreased $0.3 billion or 0.1 percent to $321.1 billion, following a 0.9 percent February increase. Year to date, shipments are 6.7 percent above the same period a year ago; first quarter shipments are 1.3 percent above fourth quarter 1996.

Unfilled orders, down for the first month since August, decreased $1.9 billion or 0.4 percent to $520.1 billion, following a 0.6 percent February increase. The unfilled orders-to-shipments ratio was 2.90, down from 2.92 in February.

Inventories, up eight of the last nine months, increased $0.8 billion or 0.2 percent to $442.7 billion, following a 0.4 percent February increase. The inventories-to-shipments ratio was 1.38, up from 1.37 in February.

(seasonally adjusted millions of dollars)



Shipments		
Mar 1997(p) 	
Feb 1997(r) 	
Jan 1997

*All manufacturing industries  	
321,149		
321,419		
318,498

New Orders

*All manufacturing industries   
319,206 	
324,369 	
323,210
*w/o defense capital goods  	
314,447 	
318,857 	
317,009
*Durable goods industries   	
172,425 	
177,075 	
175,370
*Nondurable goods industries    
146,781 	
147,294 	
147,840

Unfilled Orders

*All manufacturing industries   
520,117 	
522,060 	
519,110
Inventories

*All manufacturing industries   
442,729 	
441,908 	
440,019





Shipments	
Feb-Mar(p) 
Jan-Feb(r) 
Dec-Jan
         	    	

*All manufacturing industries    
-0.1  
+0.9 
+1.0

New Orders

*All manufacturing industries    
-1.6  
+0.4 
+2.5
*w/o defense capital goods  	 
-1.4  
+0.6 
+3.1
*Durable goods industries   	 
-2.6  
+1.0 
+3.8
*Nondurable goods industries     
-0.3  
-0.4 
+0.9
Unfilled Orders

*All manufacturing industries    
-0.4  
+0.6 
+0.9
Inventories

*All manufacturing industries    
+0.2 
+0.4 
+0.5




(p)Prelimary.
(r)Revised.

May 6, 1997
U.S. Department of Commerce

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