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MANUFACTURERS' SHIPMENTS
INVENTORIES AND ORDERS
SEPTEMBER 1997
New orders for manufactured goods in September increased $1.4 billion or 0.4 percent to $336.5 billion, the Department of Commerce, Bureau of the Census reported today. This follows a 1.2 percent August increase and is the fourth consecutive monthly increase. Excluding transportation, new orders increased 0.7 percent, following a 0.9 percent August increase. Year to date, new orders are 5.2 percent above the same period a year ago.
Shipments increased $5.1 billion or 1.6 percent to $335.3 billion, following a 0.8 percent August decrease. This is the third increase in the last four months. Year to date, shipments are 5.8 percent above the same period a year ago.
Unfilled orders, up four of the last five months, increased $1.2 billion or 0.2 percent to $528.2 billion, following a 0.9 percent August increase. The unfilled orders-to-shipments ratio was 2.79, down from 2.85 in August.
Inventories, up fourteen of the last fifteen months, increased $0.7 billion or 0.2 percent to $449.1 billion, following a 0.4 percent August increase. The inventories-to-shipments ratio was 1.34, down from 1.36 in August.
New Orders
New orders for manufactured durable goods in September increased $0.2 billion or 0.1 percent to $186.4 billion, revised from the previously published 0.6 percent decrease. This follows a 2.5 percent August increase and is the fourth consecutive monthly increase.
Primary metals had the largest increase, $0.7 billion or 4.2 percent to $16.6 billion, following a 2.1 percent August decrease. Industrial machinery and equipment, up three of the last four months, increased $0.6 billion or 1.7 percent to $35.3 billion. This follows a 1.1 percent August decrease. Fabricated metal products increased $0.5 billion or 2.7 percent to $19.7 billion. This follows a 0.4 percent August decline and is the first increase since June. Instruments and related products, up three of the last four months, increased $0.5 billion or 3.6 percent to $13.1 billion. This follows a 17.5 percent August decrease. Stone, clay, and glass products increased $0.3 billion or 4.0 percent to $7.7 billion, following a 2.3 percent August decline. Electronic and other electrical equipment, down three of the last four months, had the largest decrease, $2.6 billion or 7.6 percent to $31.5 billion, due to electronic components. This follows a 29.4 percent August increase. Transportation equipment, down two of the last three months, decreased $0.5 billion or 1.2 percent to $42.5 billion, due to declines in aircraft and parts and motor vehicles and parts. This follows a 3.1 percent August increase.
New orders for nondurable goods, up three of the last four months, increased $1.2 billion or 0.8 percent to $150.0 billion, following a 0.4 percent August decrease. Led by chemicals and allied products, all industries increased except petroleum and coal products and food and kindred products.
Shipments
Shipments of durable goods in September increased $4.2 billion or 2.3 percent to $185.3 billion, revised from the previously published 2.1 percent increase. This follows a 1.5 percent August decrease and is the third increase in the last four months. Industrial machinery and equipment, up three of the last four months, had the largest increase, 1.0 billion or 2.9 percent to $35.0 billion. This follows a 2.6 percent August decrease. Electronic and other electrical equipment, up four of the last five months, increased $0.8 billion or 2.8 percent to $31.1 billion. This follows a 2.9 percent August increase. Instruments and related products, up three of the last four months, increased $0.6 billion or 4.2 percent to $13.6 billion, following a 1.9 percent August decrease. Transportation equipment increased $0.4 billion or 1.0 percent to $43.2 billion, as increases in aircraft and parts and railroad equipment more than offset a decline in motor vehicles and parts. This follows a 2.7 percent August decrease and is the third increase in the last four months. Fabricated metal products, up for the fourth consecutive month, increased $0.3 billion or 1.7 percent to $19.4 billion. This follows a 0.3 percent August increase.
Shipments of nondurable goods, up two of the last three months, increased $0.9 billion or 0.6 percent to $150.0 billion. This follows a slight August decrease. Chemicals and allied products had the largest increase, $0.5 billion or 1.5 percent to $33.0 billion. This follows a 0.9 percent August decrease and is the first increase since April.
Unfilled Orders
Unfilled orders for durable goods in September increased $1.1 billion or 0.2 percent to $502.1 billion, revised from the previously published 0.1 percent increase. This follows a 1.0 percent August increase and is the fourth increase in the last five months.
Primary metals, up for the ninth consecutive month, had the largest increase, $1.1 billion or 3.3 percent to $33.4 billion, following a 1.7 percent August increase. Electronic and other electrical equipment, up four of the last five months, increased $0.5 billion or 0.9 percent to $55.8 billion. This follows a 7.6 percent August increase. Fabricated metal products, up for the twenty-first consecutive month, increased $0.3 billion or 1.1 percent to $26.6 billion. This follows a 0.4 percent August increase. Industrial machinery and equipment, up for the third consecutive month, increased $0.3 billion or 0.4 percent to $73.9 billion, following a 0.9 percent August increase. Transportation equipment decreased $0.7 billion or 0.3 percent to $249.2 billion, due to aircraft and parts. This follows a 0.1 percent August increase and is the second decrease in the last three months. Instruments and related products declined for the second consecutive month, down $0.5 billion or 1.0 percent to $48.4 billion. This follows a 0.8 percent August decline.
Inventories
Inventories of durable goods in September, up fourteen of the last fifteen months, increased $0.2 billion or 0.1 percent to $282.1 billion. This follows a 0.4 percent August increase. Transportation equipment, up for the twenty-first consecutive month, increased $0.4 billion or 0.5 percent to $67.8 billion. This follows a 0.9 percent August increase. Fabricated metal products, up for the twelfth consecutive month, increased $0.3 billion or 0.9 percent to $28.9 billion, following a 0.3 percent August increase. Electronic and other electrical equipment, down for the second consecutive month, decreased $0.2 billion or 0.5 percent to $40.0 billion. This follows a 0.3 percent August decrease.
Inventories of nondurable goods, up thirteen of the last fourteen months, increased $0.5 billion or 0.3 percent to $167.1 billion, following a 0.5 percent August increase. Increases led by chemicals and allied products more than offset decreases led by petroleum and coal products.
By stage of fabrication, September finished goods decreased 0.5 percent in durables and increased 0.1 percent in nondurables. Work in process decreased 0.2 percent in durables and increased 0.4 percent in nondurables. Materials and supplies increased 1.0 percent in durables and 0.5 percent in nondurables.
(seasonally adjusted millions of dollars)
SeptAugJul 1997(p) 1997(r) 1997 Shipments All manufacturing industries 335,321 330,178 332,895 New Orders All manufacturing industries 336,475 335,040 331,138 w/o defense capital goods 330,992 329,733 325,161 Durable goods industries 186,441 186,195 181,679 Nondurable goods industries 150,034 148,845 149,459 Unfilled Orders All manufacturing industries 528,187 527,033 522,171 Inventories All manufacturing industries 449,136 448,447 446,602 Aug- July- Jun- Sep(p) Aug(r) Jul Shipments All manufacturing industries +1.6 —0.8 +1.4 New Orders All manufacturing industries +0.4 +1.2 +0.5 w/o defense capital goods +0.4 +1.4 +0.6 Durable goods industries +0.1 +2.5 +0.1 Nondurable goods industries +0.8 —0.4 +1.0 Unfilled Orders All manufacturing industries +0.2 +0.9 —0.3 Inventories All manufacturing industries +0.2 +0.4 +0.4
(p)–Prelimary.
(r)–Revised.
November 5, 1997U.S. Department of Commerce
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