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1 2019 2, MAY THURSDAY, EDT, AM 10:00 AT RELEASE FOR FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS MONTHLY 2019 MARCH 2 ‐ M3 57 ‐ 19 CB Release Number: 03 ‐ (19) U.S. shipments, manufacturers’ on report full March the announces Bureau Census The — May 2, 2019 orders: and inventories NEW MANUFACTURERS' ORDERS 2018 2019 ‐ Adjusted, Change Month Seasonally Percentage To ‐ Month ‐ 4.0% ORDERS MANUFACTURED GOODS – NEW 3.0% 2.0% +1.9%° MARCH 2019 $508.2 billion 1.0% 0.0% 2019 FEBRUARY ‐ 0.3%° $498.8 billion (revised) 1.0% ‐ 2.0% ‐ 2019 4, June release: Next 3.0% ‐ changes. price for but not Data adjusted for seasonal variation ‐ 4.0% ‐ 18 Sep ‐ 18 Aug ‐ Jul 18 ‐ 18 May ‐ Apr ‐ ‐ ‐ 18 Dec ‐ 18 Jan ‐ 19 Feb ‐ 19 Mar ‐ 19 18 Oct 18 Jun 18 Nov Manufacturers' Shipments, significance not measurable for Statistical this survey. The is Change % 0.6% ‐ 0.5% 2.6% 0.2% ‐ 2.1% ‐ ‐ 0.4% 0.4% 1.9% 0.3% ‐ 0.0% 0.1% 0.5% are not based on a probability sample, so the sampling Inventories, and Orders estimates cannot be measured nor can the confidence intervals be computed. error of these estimates Orders, Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Inventories Bureau, U.S. Source: Manufacturers’ Shipments, Census and Orders, May 2, May 2019. 2, 2019. Summary in New orders for manufactured goods March, up following two consecutive monthly decreases, increased reported today. This followed a 0.3 Bureau $9.3 billion or 1.9 percent to $508.2 billion, the U.S. Census percent percent February decrease. Shipments, up two consecutive months, increased $3.7 billion or 0.7 Unfilled increase. last the of two up orders, three February percent 0.5 a followed This to billion. $509.7 0.2 percent February to percent billion. 0.2 or billion $2.7 increased months, This followed a $1,181.2 The unfilled orders ‐ to ‐ shipments ratio decrease. was 6.56, unchanged from February. Inventories, up percent to $690.9 billion. This twenty 0.4 or billion $2.8 increased months, nine ‐ of the last eight ‐ twenty from unchanged 1.36, was ratio shipments ‐ to ‐ inventories The increase. February percent 0.3 a followed February. Orders New March, New orders for manufactured durable goods in up four of the last five months, increased $6.6 published from 2.7 percent increase. This down billion, to percent the previously $258.0 billion or 2.6 Transportation months, last the of four up also equipment, decrease. February percent 1.3 a followed five Inquiries Media Inquiries Data Orders Economic Office Information Public (M3) Branch and Inventories, Shipments, Division, Indicators 301 3030 ‐ 763 ‐ 301 4832 ‐ 763 ‐ [email protected] [email protected]

2 led the increase, $6.1 billion or 7.0 percent to $93.8 billion. New orders for manufactured nondurable goods increased $2.8 billion or 1.1 percent to $250.2 billion. Shipments Shipments of manufactured durable goods in March, up four of the last five months, increased $1.0 billion or 0.4 percent to $259.5 billion, up from the previously published 0.3 percent increase. This followed a 0.2 percent February increase. Transportation equipment, up following two consecutive monthly decreases, nondurable manufactured of Shipments billion. $90.7 to percent 1.1 or billion $1.0 increase, the drove a goods, up two consecutive months, increased $2.8 billion or 1.1 percent to $250.2 billion. This followed 0.8 percent February increase. Petroleum and coal products, also up two consecutive months, drove the increase, $3.2 billion or 6.0 percent to $55.5 billion. Unfilled Orders Unfilled orders for manufactured durable goods in March, up two of the last three months, increased $2.7 from billion or 0.2 percent to $1,181.2 billion, down the previously published 0.3 percent increase. This decrease. Transportation equipment, also up two of the last three 0.2 percent a February followed months, billion. $811.9 to percent 0.4 or billion $3.1 increase, the drove Inventories months, seven ‐ twenty last the of goods March, twenty ‐ six in up durable manufactured of Inventories increased $1.2 billion the or 0.3 percent to $420.5 billion, unchanged from previously published increase. This followed a 0.4 percent February increase. Machinery, up fifteen of the last sixteen months, led the goods, up or 1.0 percent to $71.7 billion. Inventories of manufactured nondurable increase, $0.7 billion 0.2 $270.4 to percent 0.6 or billion $1.6 a followed This billion. three consecutive months, increased and Petroleum increase. February percent the led months, consecutive three up also products, coal $1.2 billion or 3.0 percent to $41.5 billion. By stage of fabrication, March materials and increase, supplies 0.5 0.1 percent in both durable goods and nondurable goods. Work in process increased decreased percent nondurable 0.5 increased goods Finished goods. in durable goods and increased 1.1 percent in increased nondurable in durable goods and percent 0.9 percent in goods. a.m. EDT 24, 2019 at 8:30 The Advance Report on durable goods for April is scheduled for release on May full in the Economic Briefing the View EDT. a.m. 10:00 at 2019 4, June on Report Full the and schedule Room: < at found be can release this of www.census.gov/economic tables and text full ‐ The >. indicators/ < www.census.gov/m3 >. Media Inquiries Data Inquiries Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Information Office ‐ 301 763 ‐ 4832 301 ‐ 763 ‐ 3030 [email protected] [email protected]

3 EXPLANATORY NOTES text are adjusted for seasonality, but not for Figures Figures in on new and unfilled orders inflation. exclude data for semiconductor manufacturing. “Virtually unchanged” indicates that the change is less than 0.05 percent for a percent increase or decrease. 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 shipments, of value manufacturers' for basis orders new survey provides statistics on a calendar ‐ month (net cancellations), end ‐ of ‐ month order backlog (unfilled of orders), end ‐ of ‐ month total inventory (at current cost or market value), and inventories by stage of fabrication (materials and supplies, work ‐ in ‐ panel process, and finished goods). Data published from the M3 survey are based on a of approximately 5,000 units that represent approximately 3,100 companies reporting and provide an indication of month ‐ to ‐ month change for the Manufacturing Sector. These reporting units June be divisions of diversified large companies, large homogenous companies, or single ‐ unit manufacturers in 92 industry categories, which small monthly panel size. The the survey methodology are combined into 65 publication levels due to in units reporting the of operations total the of changes ‐ to ‐ month the that month panel M3 the assumes establishments represent month ‐ to ‐ month movements of all the that make up the category. effectively companies The for which shipments data are currently reported or imputed in the M3 survey represent 64 percent of the total value of shipments for manufacturing establishments in the 2012 approximately Economic and these companies include almost two ‐ thirds of the manufacturing companies with Census, Economic $500 more in shipments in the 2012 million Census. The companies for which shipments data or of value total the of percent survey represent approximately 57 the in M3 reported currently are 2012 the establishments M3 the on based Statistics Census. Economic shipments for manufacturing in panel from the results that would be obtained from a complete differ enumeration of all manufacturing the sampling therefore, errors that are on a probability sample; companies. The M3 panel is not based measured. normally provided with sample surveys cannot be Nonsampling errors are attributable to many sources. use of company or divisional reports to The estimate the monthly change for establishments is month ‐ to ‐ month companies nonsampling error. The use of primarily large to represent the of source one in the full Any corrections source. will be published movement of all companies is another potential Corrections report. report. advance month’s next the in released Any be will report full the after received Media Inquiries Inquiries Data Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Economic Information Office ‐ 301 763 ‐ 4832 301 ‐ 763 ‐ 3030 [email protected] [email protected]

4 revisions made later than two months will be reflected in the annual benchmark publication. Additional survey documentation can be found on our web site: < the_data_are_collected/index.html >. www.census.gov/manufacturing/m3/how_ RESOURCES API The Census Bureau’s application programming interface (API) lets developers create custom apps to reach accessible more statistics housing and economic ‐ socio demographic, key makes and ever than new users before. < www.census.gov/developers/ >. NEW TIME SERIES June Beginning with the release of 2018 data on July 26, 2018, historical estimates of the Monthly Advance Report basis adjusted on Manufacturers’ Shipments, Inventories and Orders are available on a seasonally seasonally well as a not as adjusted basis at: < https://www.census.gov/econ/currentdata/ >. App Mobile FRED updates latest the Receive by downloading key indicators nation’s the on economic and Apple both for > mobile/ ‐ https://fred.stlouisfed.org/fred < App FRED the Bank Reserve Federal the of database signature the FRED, devices. Android St. of Louis, incorporates the Census Bureau’s 13 economic indicators. now of Revisions and Changes Due to Updated Seasonal Adjustment Models Notice May 16, 2019, Shipments, monthly seasonally adjusted data for Manufacturers’ On Inventories, and Orders, based on the North American Industry Classification System, will be revised for January 2002 adjusted through March 2019. There will be no accompanying press release containing revised seasonally be will adjusted seasonally not data historical and unchanged. 2019, data for January through March of on the results based of the recent annual will These be revisions to the historical seasonally adjusted data adjustment that series seasonally are review of the seasonal of models. Based on this review, the lists total one and series orders adjusted and not seasonally adjusted will be updated. Three unfilled two Conversely, adjusted. stage of will no longer be seasonally inventories series that have been adjusted be will changes These adjusted. seasonally be now will adjusted been not have that series fabrication Media Inquiries Data Inquiries Indicators Division, Shipments, Inventories, and Orders Branch (M3) Economic Public Information Office ‐ 301 763 ‐ 4832 301 ‐ 763 ‐ 3030 [email protected] [email protected]

5 the from data adjusted seasonally produce to used be also will and 2019 16, May on implemented beginning Report Advance 2019 April the with Survey, Orders and Inventories, Shipments, Manufacturers’ on the and 2019 24, May on release for scheduled Goods Durable full report scheduled for release on June 2019. 4, ### Media Data Inquiries Inquiries Inventories, Indicators Division, Shipments, and Orders Branch (M3) Economic Public Information Office ‐ 301 ‐ 4832 301 ‐ 763 ‐ 3030 763 [email protected] [email protected]

6 1 Table Value of Manufacturers' Shipments for Industry Groups 1. the are shown in millions of dollars and are based on data from Manufacturers' Shipments, Inventories, and Orders Survey.] [Estimates Adjusted Not Seasonally Adjusted Seasonally to date Year Monthly Change Percent Monthly % Industry Change Dec. Jan. Feb. Jan. Mar. 2019/ ‐ Feb. Jan. Feb. Mar. ‐ ‐ Mar. r p p p r Mar. Feb. Jan. 2019 2018 2019 2018 2018 2019 2019 2019 2019 2019 0.5 509,701 505,976 503,490 518, 285 1,463,509 1,427,121 2.5 ... industries manufacturing All ‐ 0.7 0.3 526,879 469,660 466,970 0.7 1.6 897 387,462 0.0 427,989 383, 0.7 423,257 1,199,348 1,180,764 418,988 416,251 413,401 transportation... Excluding 2.3 Excluding defense... 495,161 491,548 488,401 0.7 0.6 ‐ 0.4 510,430 455,935 454,569 503, 911 1,420,934 1,389,473 0.0 ‐ 0.3 191,022 167,096 161,727 186,953 519,845 497,699 4.4 With unfilled orders... 180,077 179,741 179,827 0.2 0.2 0.5 273,917 241,918 233,379 266,715 749,214 716,258 4.6 Durable goods industries ... 259,508 258,548 258,030 0.4 ‐ 3.1 0.3 ‐ 9,007 8,260 7,805 9,322 25,072 25,884 ‐ 0.5 9,089 9,131 9,107 ... 0.0 products... Wood 11,147 1.0 0.0 0.8 10,914 9,543 9,803 10,652 30,260 29,241 Nonmetallic mineral products... 11,264 11,152 3.5 Primary metals... 1.3 22,179 20,466 20,974 22,103 63,619 61,254 3.9 21,261 0.4 0.6 ‐ ... 21,296 21,388 ‐ 32,475 10,930 ‐ 0.8 1.2 ‐ 0.8 11,224 10,480 10,771 10,737 10,895 29,736 9.2 mills... Iron 11,023 and steel 8,831 8,863 8,887 ‐ 0.4 ‐ 0.3 ‐ 2.4 9,334 8,556 8,811 9,892 26,701 27,462 ‐ 2.8 Aluminum and nonferrous metals... 1,502 metal 2.2 1.6 2.1 1,621 1,430 1,392 1,474 4,443 4,056 9.5 Ferrous foundries... ... 1,535 1,479 92,852 33,757 0.4 0.0 34,526 31,704 31,599 32,970 97,829 0.4 5.4 34,031 products... metal Fabricated 33,880 0.4 1.1 36,023 31,767 29,874 35,617 97,664 94,846 3.0 Machinery... 33,264 33,454 33,319 0.6 ‐ 2,592 0.9 4.1 ‐ 5.0 3,366 3,028 2,331 3,122 8,725 8,040 8.5 Farm machinery... 2,673 2,698 ‐ ‐ 3,034 1.7 4.6 3,185 3,020 2,658 3,162 8,863 8,498 4.3 2,927 machinery... Construction 3.5 3,087 ‐ field, oil Mining, and 4,472 ‐ ‐ 1.2 ‐ 1.4 1,444 gas 1,354 1,563 4,112 2.5 ‐ 8.1 1,446 1,429 1,393 machinery... field 1,314 0.9 2.9 2,985 2,262 2,132 7,379 7,330 0.7 Industrial machinery... 2,660 2,615 2,592 1.7 2,893 ‐ 8.7 5.8 664 559 473 629 1,696 1,542 10.0 Photographic 5.0 equipment... 583 614 565 Ventilation, conditioning, ‐ air heating, 4,119 4,026 ‐ 0.6 2.3 1.5 4,352 3,358 3,292 11,002 10,227 7.6 and refrigeration equipment... 4,096 4,139 2,626 0.3 1.9 3.2 2,754 2,389 2,444 2,986 7,587 8,215 ‐ 7.6 Metalworking machinery... 2,666 2,675 ‐ other and generators, Turbines, 13,000 4,342 0.3 1.0 ‐ 0.4 power 4,392 4,132 4,385 ‐ 12,362 5.2 4,387 4,374 equipment... transmission 4,476 2,878 2,880 0.9 ‐ 0.1 1.1 3,047 2,740 2,877 8,464 7,829 8.1 Material handling equipment... 2,903 2,677 2 24,733 5.2 27,876 27,977 27,704 ‐ 0.4 1.0 ‐ 0.1 29,376 74,842 24,653 28,053 78,762 products electronic and Computers ... 3.8 ‐ 3.9 ‐ 9.4 664 494 548 763 1,706 1,926 ‐ 11.4 Computers... 662 688 716 ‐ 892 314 ‐ 6.5 12.0 16.3 443 237 212 359 300 783 13.9 devices... Computer storage 336 770 818 768 ‐ 5.9 6.5 7.3 806 633 647 739 2,086 1,896 10.0 Other peripheral equipment... communications Nondefense 3,506 2.0 4,022 2,885 2,727 3,645 9,634 8,578 12.3 3,537 ‐ 0.9 1.1 equipment... 3,499 275 equipment... ‐ 13.0 ‐ 4.0 322 276 279 288 877 762 15.1 communications 316 Defense 319 16.0 833 333 0.9 ‐ 0.3 ‐ 11.7 311 282 240 218 331 571 45.9 equipment... 330 Audio and video 1.4 ‐ 1.1 3,770 3,220 3,163 3,692 10,153 10,077 Electronic components... 3,597 3,585 3,536 0.3 0.8 navigation Nondefense search and 0.9 1.5 1,481 1,718 4,675 4,485 4.2 1,804 ‐ 0.8 1,592 1,578 1,590 equipment... 1,390 navigation Defense search and ‐ 2,771 3,056 2,606 2,284 2,879 7,946 7,855 1.2 equipment... 2,850 2,755 2.9 0.6 0.9 measuring, Electromedical, 0.2 ‐ 1.6 ‐ 0.7 10,155 9,300 7,994 10,111 26,339 25,486 instruments... 3.3 9,282 9,435 8,190 control and appliances, equipment, Electrical 0.4 0.6 0.0 10,549 10,318 11,812 32,895 31,834 3.3 and components... 11,571 11,529 11,456 12,028 1,024 1,026 0.3 ‐ 0.5 0.0 1,022 945 919 1,074 1,021 3,013 ‐ 4.2 equipment... lighting Electric 2,886 1,791 ‐ 0.2 ‐ 2.8 0.8 1,794 1,519 1,525 1,804 4,838 4,731 2.3 Household appliances... 1,737 1,740 3,070 equipment... 0.2 ‐ 0.6 2.5 3,379 2,853 2,729 3,528 8,961 9,034 ‐ 0.8 Electrical 3,046 3,051 ‐ 6.8 822 798 748 746 886 2,292 2,553 ‐ 10.2 878 882 ‐ Batteries... 0.5 8.4 246,357 1.1 ‐ 1.4 98,890 85,763 79,508 95,028 264,161 0.4 7.2 90,089 ‐ Transportation equipment... 90,713 89,725 ‐ 6.4 9,945 8,827 8,513 10,346 27,285 29,041 ‐ 6.0 Automobiles... 9,276 8,937 8,873 3.8 0.7 21,440 utility vehicles... 21,879 21,527 21,548 1.6 ‐ 0.1 ‐ 0.8 23,930 19,247 21,233 64,617 55,322 16.8 and trucks Light ... 3,279 3,117 3,210 5.2 ‐ 2.9 9.3 3,445 2,781 2,854 2,906 9,080 7,686 18.1 Heavy duty trucks Motor vehicle bodies, parts, ‐ 0.5 30,145 28,197 26,282 28,548 84,624 79,666 6.2 27,896 28,561 trailers... and 1.6 28,124 0.8 17,397 parts... 13,647 ‐ 0.5 2.1 ‐ 10.7 15,471 11,136 10,265 13,579 36,872 37,485 ‐ 1.6 and aircraft Nondefense 13,362 parts... 4,474 4,612 5,193 ‐ 3.0 ‐ 11.2 10.2 5,228 4,021 3,987 5,035 13,236 12,402 6.7 Defense aircraft and boats... 2,857 2,839 1.6 0.6 0.8 3,224 2,831 2,233 2,903 8,288 8,065 2.8 and Ships 3,066 related products... 6,787 6,696 6,629 1.4 1.0 ‐ 0.8 6,841 6,443 6,207 6,585 19,491 18,852 3.4 Furniture and goods... 13,579 ‐ 0.1 0.3 ‐ 0.3 14,133 12,690 12,638 14,573 39,461 40,296 ‐ 2.1 durable Miscellaneous 13,599 13,616 s... 0.8 ‐ 0.1 252,962 227,742 233,591 251,570 714,295 710,863 0.5 goods 250,193 247,428 245,460 Nondurable industrie 1.1 ‐ 67,397 0.2 67,912 64,656 64,838 69,116 197,406 198,313 ‐ 0.5 67,181 products... Food 0.3 66,928 0.7 ‐ 7,708 1.9 2.5 0.1 7,748 7,299 7,437 8,180 22,484 23,726 7,382 5.2 milling... 7,565 Grain and oilseed 2.3 2.2 0.5 9,375 8,800 9,003 9,954 27,178 27,990 ‐ Dairy products... 9,239 9,455 9,248 ‐ 2.9 18,433 products... 19,540 19,535 19,435 0.0 0.5 ‐ 0.1 19,507 18,579 1.2 19,535 56,519 55,859 and poultry, Meat, seafood products... 11,988 12,248 12,627 ‐ 2.1 ‐ 0.5 11,968 11,331 11,621 12,737 34,920 35,341 ‐ 1.2 Beverage and tobacco 3.0 ‐ ‐ 1.0 8,577 7,676 7,683 8,748 23,936 23,907 0.1 Beverages... 8,597 8,593 8,689 0.0 1.1 3.9 ‐ 3,391 3,655 3,938 3,989 10,984 11,434 ‐ 4.0 7.2 7.2 Tobacco... 3,391 3,655 3,938 ‐ 0.6 ‐ 0.3 ‐ 0.1 2,582 2,395 2,302 2,574 7,279 0.3 Textile mills... 2,499 2,483 2,491 7,260 2,332 0.7 ‐ 0.7 ‐ 2.3 2,382 2,242 2,087 ‐ 6,711 6,381 5.2 2,315 2,298 products... Textile 2,303 ‐ 1.4 ‐ 1.5 872 897 894 886 2,663 2,656 0.3 Apparel... 957 956 970 0.1 422 435 433 ‐ 3.0 0.5 2.6 438 438 402 429 1,278 1,186 7.8 Leather and allied products... 16,138 16,137 0.4 0.8 16,209 15,133 15,984 16,303 47,326 47,083 0.5 ‐ 16,202 products... Paper 0.4 6,644 paperboard 6,452 6,469 6,472 ‐ 0.3 0.0 ‐ 1.0 6,456 5,981 6,491 mills... 18,928 19,263 ‐ 1.7 Pulp, paper, and ‐ 0.6 1.2 3.1 5,326 5,660 5,665 16,715 16,333 2.3 Paperboard containers... 5,692 5,726 5,656 5,729 0.3 0.7 6,656 6,079 6,479 6,620 19,214 0.1 2.5 ‐ 6,697 6,704 6,683 Printing... 18,752 products... 55,493 52,341 50,439 6.0 3.8 ‐ 0.6 53,778 44,077 46,572 51,589 144,427 146,292 1.3 coal ‐ Petroleum and 46,076 6.3 4.5 ‐ 0.6 49,948 40,710 43,125 48,030 133,783 136,414 ‐ 1.9 Petroleum refineries... 51,176 48,140 66,519 66,699 0.1 ‐ 0.4 69,959 61,984 63,648 68,477 195,591 190,153 2.9 products... ‐ Chemical 0.4 66,465 other and fertilizers, Pesticides, 2,761 1.3 ‐ 2.2 ‐ 2.3 2,731 2,374 3,165 8,539 7,795 9.5 agricultural chemicals... 2,735 2,699 3,434 medicines... 22,352 22,065 1.8 1.3 ‐ 0.4 23,244 20,499 22,757 21,250 65,365 61,050 7.1 and Pharmaceuticals 21,622 and adhesives... 3,808 3,903 3,906 ‐ 2.4 ‐ 0.1 ‐ 0.3 3,991 3,534 3,499 4,057 11,024 10,747 2.6 Paints, coatings, rubber 19,836 19,882 19,886 ‐ 0.2 0.0 0.2 20,206 18,510 18,764 20,536 57,480 57,446 0.1 and Plastics products... p Preliminary r due to late Revised receipts and concurrent seasonal adjustment. data 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 orders include adjusted new the of review annual latest the of results the on for holiday and trading ‐ day differences, where appropriate, as well as seasonal variation, based for adjustments concurrent include estimates adjusted Seasonally reporters. calendar ‐ non data model parameters. Estimates are not for price changes. adjusted 2 Estimates and percent changes of shipments for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals. and coverage, response, of nonreporting. Since the are subject to survey error and revision. One major component Estimates of survey error is nonsampling error, which includes errors Note: of manufacturers' shipments, inventories and orders 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 . on data sources and methodology can be found on our website at Report, May 2, 2019. Information Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full .

7 1 Value of Manufacturers' New Orders for Industry Groups Table 2. the are shown in millions of dollars and based on data from Manufacturers' Shipments, Inventories, and Orders Survey.] [Estimates are Adjusted Not Seasonally Adjusted Seasonally to date Year Monthly Change Percent Monthly % Industry Change Dec. ‐ Feb. Jan. Mar. 2019/ ‐ Jan. ‐ Feb. Jan. Feb. Mar. Mar. p r p r p 2019 2018 Mar. 2019 2018 Feb. Jan. 2018 2019 2019 2019 2019 2019 2 1,436,321 508,192 ‐ 0.3 0.0 533,072 462,788 465,038 529,870 1,460,898 500,122 1.7 498,844 1.9 ... ... industries manufacturing All 2 0.8 0.3 ‐ 0.1 426,611 382,805 387,135 424,101 1,196,551 1,182,743 1.2 414,428 411,190 409,840 Excluding transportation ... 2 1.7 ‐ 0.5 0.1 511,484 450,778 454,659 513,364 1,416,921 1,398,114 1.3 491,710 483,692 486,276 Excluding defense ... 2 182,811 176,999 180,543 3.3 ‐ 2.0 0.5 200,793 164,269 164,590 201,910 529,652 518,617 2.1 orders ... With unfilled 2 1.3 0.1 280,110 235,046 231,447 278,300 746,603 725,458 2.9 257,999 251,416 254,662 2.6 ‐ goods industries ... Durable 63,633 21,382 0.4 ‐ 1.8 22,633 21,275 21,257 22,966 65,165 0.4 2.4 21,457 21,362 ‐ Primary metals... ... mills... 11,029 11,029 10,741 0.0 2.7 ‐ 3.7 11,725 11,007 10,660 11,453 33,392 31,922 4.6 Iron and steel metals... 8,806 8,933 9,098 ‐ 1.4 ‐ 1.8 ‐ 0.8 9,319 8,829 9,018 10,047 27,166 27,579 ‐ 1.5 Aluminum and nonferrous 4,607 1,495 2.1 ‐ 3.1 5.9 1,589 1,439 1,579 1,466 1,543 4,132 11.5 1,527 foundries... metal Ferrous 33,478 33,681 34,221 ‐ 0.6 ‐ 1.6 ‐ 0.5 34,947 32,565 33,165 34,818 100,677 97,484 3.3 Fabricated metal products... 98,025 0.1 2.1 35,569 32,264 31,586 35,436 99,419 0.9 1.4 33,298 Machinery... 33, 050 33,002 ‐ 2,952 ‐ 2.1 3.2 4.0 3,256 3,161 2,855 3,156 9,272 9,134 1.5 Construction machinery... 2,984 3,047 and oil Mining, field, 1,398 1,296 7.3 1.0 2.1 1,308 1,451 1,268 1,598 4,027 4,615 ‐ 12.7 machinery... field gas 1,384 ‐ ‐ ‐ 15.5 2,991 2,176 2,493 3,075 7,660 7,711 3.9 0.7 2,642 2,540 2,606 machinery... Industrial 2.6 10.3 ‐ 6.8 ‐ 547 390 454 547 1,391 1,459 ‐ 4.7 Photographic equipment... 527 478 513 7.6 Ventilation, ‐ heating, air conditioning, 4,192 4,164 ‐ 0.1 ‐ 10.2 4,161 4,455 3,528 4,146 4,636 12,129 10,651 13.9 equipment... refrigeration and 15.9 2,539 2.6 ‐ 1.4 3.8 2,547 2,365 2,521 2,776 7,433 8,623 ‐ 13.8 Metalworking machinery... 2,570 2,504 and Turbines, generators, other 4,535 4,358 4,235 4.1 2.9 4.5 4,537 4,341 4,040 4,205 12,918 12,139 6.4 power transmission equipment... 2,997 2,723 ‐ 1.1 ‐ 2.5 ‐ 4.6 2,835 2,800 2,690 2,824 8,325 8,259 0.8 Material handling 2,753 equipment... 2 65,234 5.0 68,527 24,186 23,672 23,592 2.2 0.3 ‐ 1.9 27,190 21,097 20,240 25,805 electronic Computers and products ... 2.4 ‐ 10.1 ‐ 4.8 666 486 588 853 1,740 2,044 ‐ 14.9 Computers... 664 680 756 ‐ Nondefense communications 3,605 1.8 equipment... 4,181 3,036 2,700 3,725 9,917 9,358 6.0 3.5 3,377 8.7 ‐ 3,316 213 equipment... 267 25.2 ‐ 1.9 ‐ 6.0 382 272 262 328 867 805 7.7 communications Defense 328 3,540 3,562 1.1 ‐ 0.6 ‐ 1.8 3,552 3,294 3,469 3,592 10,315 10,544 ‐ 2.2 Electronic components... 3,579 and Nondefense search navigation ‐ 1,701 5.4 1,891 1,549 1,543 1,793 4,983 4,645 7.3 1,641 1,708 3.5 equipment... 4.1 ‐ navigation and search Defense 16.2 ‐ 2,157 3,506 8,879 7,942 11.8 8.3 12.4 2,641 equipment... 4,081 3,290 2,926 2,702 Electromedical, measuring, 9,456 ‐ 2.5 ‐ 1.0 10,432 8,283 8,097 10,423 26,812 25,941 3.4 and control instruments... 9,203 9,436 0.2 appliances, equipment, Electrical 0.5 1.4 1.1 12,170 10,767 10,675 12,023 33,612 32,511 3.4 and components... 11,570 11,512 11,355 1,021 Electric lighting equipment... 1,019 1,026 1,087 960 3,089 ‐ 4.5 959 2,949 ‐ 0.2 ‐ 0.5 0.0 1,030 ‐ 1.8 3.9 ‐ 1.1 1,805 1,407 1,496 1,957 4,708 4,925 ‐ Household appliances... 1,710 1,742 1,676 4.4 3,131 ‐ 0.8 1.6 3,457 2,976 2,972 3,406 1.4 8,975 4.8 3,107 3,151 equipment... Electrical 9,405 90,282 7.0 ‐ 2.9 0.4 106,461 79,983 77,903 105,769 264,347 253,578 4.2 Transportation equipment... 93,764 87,654 Motor vehicle bodies, parts, 28,211 28,661 0.6 30,332 29,090 26,547 28,817 85,969 80,617 6.6 trailers... and 1.5 28,245 0.1 parts... 43,714 11,024 14,781 31.0 ‐ 25.4 9.2 18,264 6,336 10,677 26,361 35,277 ‐ 19.3 Nondefense aircraft and 14,445 4,746 parts... 4,724 4,502 17.7 4.9 1.5 6,748 3,218 3,904 5,560 13,870 10,075 37.7 and aircraft Defense 4,686 3,876 2,639 20.9 46.9 ‐ 2.8 6,602 2,995 1,756 3,503 11,353 10,788 5.2 Ships and boats... 6,615 6,540 6,714 1.1 ‐ 2.6 0.2 7,082 6,603 6,372 6,931 20,057 19,569 2.5 Furniture and related products... 250, 710,863 247,428 245,460 1.1 0.8 ‐ 0.1 252,962 227,742 233,591 251,570 714,295 industries... 0.5 goods Nondurable 193 p Preliminary r Revised data due to receipts and concurrent seasonal adjustment. late 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 for non ‐ calendar reporters. Seasonally adjusted estimates include concurrent adjustments data and trading ‐ day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual for holiday of the model parameters. Estimates are not review adjusted for price changes. 2 Estimates Data on new orders are not available for the semiconductor industry. 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 . Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2019. Information on sources and methodology can be data found on our website at .

8 1 Table Value of Manufacturers' Unfilled Orders for Industry Groups 3. are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] [Estimates Adjusted Not Seasonally Adjusted Seasonally Change Change Monthly Percent Monthly % Industry March 2019/ ‐ Dec. ‐ Mar. Feb. Jan. Mar. ‐ Feb. Mar. Jan. Jan. Feb. r p p r 2019 Mar. Feb. Jan. 2019 2018 2018 2019 2019 2019 2019 2 1,182,497 1,189,441 1,179,670 1,181,211 1,178,477 1,181,219 0.2 ‐ 0.2 0.1 1,157,330 2.8 ... manufacturing All industries 2 372,678 369,326 369,643 370,314 ‐ 0.1 ‐ 0.2 0.1 3.4 370,478 367,525 360,270 ... Excluding transportation 2 0.1 1.1 981,118 980,326 983,792 976,590 ‐ 0.4 0.2 987,724 983,092 984,204 defense Excluding ... 2 1,189,441 0.2 ‐ 1,181,211 0.1 1,181,219 1,179,670 1,182,497 1,157,330 2.8 1,178,477 0.2 Durable goods industries ... 0.2 31,847 31,781 31,712 Primary 0 .2 0.4 32,649 32,195 31,386 30,257 7.9 metals... and steel mills... 16,695 16,596 16,590 0.6 0.0 ‐ 0.9 17,186 16,685 16,158 16,404 4.8 Iron 0.6 nonferrous metals... 11,620 11,645 11,575 ‐ 0.2 1.9 11,861 11,876 11,603 10,623 11.7 Aluminum and metal foundries... 3,532 3,540 3,547 ‐ 0.2 ‐ 0.2 1.8 3,602 3,634 3,625 3,230 11.5 Ferrous Fabricated products... 85,842 86,395 86,594 ‐ 0.6 ‐ 0.2 0.5 86,412 85,991 85,130 82,006 5.4 metal 104,906 105,512 105,572 ‐ 0.2 ‐ 0.4 0.0 105,555 106,009 Machinery... 104,516 1.0 105,120 6,634 6,410 6,353 Construction 0.9 0.2 ‐ 2.1 6,770 6,699 6,558 machinery... 2.1 6,340 Mining, oil field, and gas field machinery... 4,057 4,154 4,185 ‐ ‐ 0.7 ‐ 1.5 4,121 4,257 4,120 4,682 ‐ 12.0 2.3 machinery... 8,344 8,398 8,473 ‐ 0.6 ‐ 0.9 0.6 8,387 8,381 8,467 8,847 ‐ 5.2 Industrial Photographic 1,328 1,464 ‐ 4.2 ‐ equipment... 1,272 1,285 1,571 1,747 ‐ 26.4 3.4 9.3 ‐ 1,402 heating, air ‐ conditioning, Ventilation, 8.3 equipment... 8,108 8,043 7,998 0.8 0 .6 8,236 8,133 7,963 6,535 26.0 and refrigeration machinery... 7,213 7,309 7,480 ‐ 1.3 ‐ 2.3 ‐ 1.1 7,184 7,391 7,415 8,173 ‐ 12.1 Metalworking and other generators, Turbines, transmission equipment... 28,825 28,664 28,693 0.6 ‐ 0.1 ‐ 0.4 28,671 28,610 28,661 29,597 ‐ 3.1 power 1.0 equipment... 12,847 13,027 13,152 ‐ 1.4 ‐ handling ‐ 0.4 12,930 13,142 13,082 11,855 9.1 Material 2 114,580 117,425 117,834 119,226 0.0 0.1 4.1 0.5 118,248 117,695 117,610 electronic and Computers products ... Computers... 2,229 2,227 2,235 0.1 ‐ 0.4 1.8 2,229 2,227 2,235 1,996 11.7 Nondefense communications 25,041 24,792 0.4 ‐ 0.9 ‐ 0.5 24,914 24,882 24,731 24,409 2.6 equipment... 24,693 communications equipment... 1,310 1,301 1,314 0.7 ‐ 1.0 ‐ 3.6 1,325 1,265 1,269 1,473 ‐ 10.0 Defense Electronic components... 12,901 12,919 12,964 ‐ 0.1 ‐ 0.3 0.2 12,958 13,176 13,102 12,289 5.4 Nondefense search and navigation equipment... 20,312 20,194 20,131 0.6 0.3 0.5 20,169 20,082 20,014 19,233 4.9 Defense search and navigation equipment... 28,580 28,140 27,985 1.6 0.6 ‐ 0.2 28,999 27,974 27,939 27,292 6.3 Electromedical, measuring, and control instruments... 28,124 28,221 28,067 ‐ 0.3 0.1 28,505 28,228 28,135 27,888 2.2 0.5 Electrical equipment, appliances, and components... 19,365 19,366 19,383 0.0 ‐ 0.1 ‐ 0.5 19,672 19,530 19,312 19,709 ‐ 0.2 Electric lighting equipment... 1,406 1,411 1,411 ‐ 0.4 0.0 0.0 1,414 1,406 1,392 1,421 ‐ 0.5 Household 1,161 1,134 2.3 0.2 ‐ 9.0 1,085 1,074 1,186 1,378 ‐ 21.3 1,159 appliances... ‐ 8,020 equipment... 7,856 1. 3 0.7 0.8 8,098 7,912 7,897 7,776 4.1 8,017 Electrical equipment... 811, 885 808,834 810,905 ‐ 0.3 0.0 816,763 809,192 814,972 797,060 2.5 Transportation 0.4 vehicle bodies, parts, Motor trailers... 27,586 27,486 27,365 0.4 0.4 1.2 28,537 28,350 27,457 27,458 3.9 and Nondefense aircraft and parts... 593,874 593,008 595,631 0.1 ‐ 0.4 0.2 596,593 593,800 598,600 599,339 ‐ 0.5 0.1 and parts... 82,390 81,304 81,192 1.3 aircraft ‐ 0.8 82,823 81,303 82,106 70,167 18.0 Defense Ships and boats... 31,991 30,208 29,189 5.9 3.5 ‐ 0.7 29,191 29,027 29,777 9.4 32,569 and related products... 8,589 8,761 8,917 ‐ 2.0 ‐ 1.7 1.0 8,635 8,394 8,234 8,596 0.5 Furniture p Preliminary r data due to late receipts and concurrent seasonal adjustment. Revised 1 Estimates of shipments and new orders are for the duration of the while estimates of unfilled orders and total inventories are for the end of the period. Not seasonally adjusted estimates of shipments and new orders period, include adjusted data for non ‐ calendar reporters. Seasonally adjusted estimates include concurrent adjustments for and trading ‐ day differences, where appropriate, as well as seasonal variation, based on the results of the holiday review of the model parameters. Estimates are not latest adjusted for price changes. annual 2 Estimates on unfilled orders not available for the semiconductor industry. Data and percent changes for unfilled orders exclude semiconductor industry data. are 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, and response, the survey panel is not a probability sample, estimates of sampling nonreporting. cannot Since be calculated. For further details on survey design, methodology, and data limitations see error . 2, Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2019. Information on sources and methodology can be data found on our website at .

9 1 Table Value of Manufacturers' Inventories for Industry Groups 4. are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] [Estimates Adjusted Not Seasonally Adjusted Seasonally Change Percent Change Monthly Monthly % Industry March 2019/ ‐ Dec. ‐ Mar. Feb. Jan. Mar. ‐ Jan. Mar. Jan. Feb. Feb. r p p r 2019 2019 Mar. Feb. Jan. 2018 2018 2019 2019 2019 2019 industries ... 690,862 688,056 685,778 0.4 All 0.5 690,104 691,949 684,455 663,752 4.0 manufacturing 0.3 transportation... 556,570 553,941 553,051 0.5 0.2 0.4 556,310 556,525 551,839 535,630 3.9 Excluding defense... Excluding 660,775 658,472 0.4 0.3 0.5 662,606 664,592 657,284 636,825 4.0 663,408 341,573 unfilled 342,746 341,450 340,125 0.4 0.4 0.5 orders... 343,301 339,242 324,901 5.1 With goods industries... ... 420,491 419,293 417, 593 0.3 0.4 419,495 422,636 417,311 399,879 4.9 Durable 0.5 ‐ ... 12,283 12,280 12,381 0.0 ‐ 0.8 1.6 0.6 12,574 12,711 12,736 12,380 products... Wood mineral products... 14,974 14,947 14,903 0.2 0.3 ‐ 0.3 15,250 15,201 14,939 14,383 6.0 Nonmetallic ‐ 36,790 36,413 36,638 36,676 ‐ 0.6 ... 0.1 0.3 36,155 36,724 33,839 6.8 Primary metals... and steel mills... 20,600 20,858 21,031 ‐ 1.2 ‐ 0.8 0.1 20,401 20,951 21,212 19,012 7.3 Iron 0.8 and metals... 13,644 13,643 13,558 0.0 0.6 nonferrous 13,575 13,571 13,460 12,858 5.6 Aluminum metal foundries... 2,169 2,137 2,087 1.5 0.0 2,179 2,202 2,118 1,969 10.7 Ferrous 2.4 products... 54,923 54,878 54,769 0.1 0.2 metal 54,980 55,094 54,787 51,711 6.3 Fabricated 0.2 71,704 70,989 70,910 1.0 0.1 0.5 71,697 71,498 70,707 67,599 6.1 Machinery... machinery... 3,950 3,917 3,889 0.8 0.7 2.5 4,176 4,238 4,045 3,826 9.1 Farm 5,561 5,766 5,797 1.3 ‐ 0.5 1.3 5,925 5,830 5,804 5,841 6.5 machinery... Construction oil field, Mining, gas field machinery... 5,588 5,509 5,450 1.4 1.1 0.3 5,572 5,528 5,389 3.4 and 5,460 Industrial machinery... 8,486 8,390 8,298 1.1 1.1 ‐ 0.3 8,644 8,421 8,086 8,457 2.2 0.0 1,735 1,711 1,722 1.4 ‐ 0.6 equipment... 1,654 1,731 1,738 1,595 3.7 Photographic Ventilation, heating, air ‐ conditioning, and 5,438 refrigeration equipment... 5,512 5,377 1.4 1.1 1.8 5,639 5,567 5,253 5,008 12.6 Metalworking 6,103 6,020 5,977 1.4 0.7 ‐ 0.3 6,029 5,992 5,922 5,707 5.6 machinery... and other generators, Turbines, 9,600 transmission 9,821 9,715 10,042 1.1 ‐ 3.3 0.8 equipment... 9,710 10,008 9,475 1.3 power handling equipment... 5,951 5,901 5,848 0.8 0.9 ‐ 0.3 5,831 5,764 5,700 5,470 6.6 Material 2 ‐ 42,868 43,442 43,272 43,298 0.4 42,643 0.1 0.0 42,893 43,626 0.6 ... electronic products and Computers 1,583 1,507 1.7 3.3 0.0 1,537 1,556 1,508 1,473 4.3 Computers... 1,626 storage devices... 1,141 1,101 3.6 4.8 ‐ 3.8 1,064 1,156 1,018 955 11.4 Computer 1,051 Other peripheral equipment... 1,172 1,182 1,145 ‐ 0.8 3.2 ‐ 2.3 1,128 1,196 1,134 1,068 5.6 communications Nondefense 4,851 4,773 1.3 ‐ 0.7 4,742 4,806 4,715 4,513 5.1 4,834 equipment... 1.3 communications equipment... 703 696 670 1.0 3.9 703 696 670 662 6.2 Defense 4.4 Audio and video equipment... 651 631 625 1.0 1.8 611 622 628 536 14.0 3.2 Electronic components... 7,269 7,254 7,206 0.2 0.7 0.3 7,274 7,314 7,262 7,462 ‐ 2.5 Nondefense search and navigation equipment... 2,651 2,641 ‐ 0.2 0.5 0.6 2,625 2,644 2,640 2,549 3.0 2,655 and navigation search Defense 2,625 2,514 1.3 ‐ 2.1 ‐ 2,546 2,556 2,535 2,569 2,568 ‐ 2.6 equipment... 1.0 measuring Electromedical, control instruments... 15,603 15,593 0.4 ‐ 0.3 0.0 15,422 15,485 15,314 15,038 2.6 and 15,548 Electrical equipment, appliances, 0.9 20,140 and 19,846 0.5 1.0 components... 20,247 20,261 19,809 18,414 10.0 20,043 Electric lighting equipment... 2,273 2,273 2,263 0.0 0.4 0.1 2,249 2,278 2,294 3.3 2,177 appliances... 2,889 2,864 2,824 0.9 1.4 0.6 2,932 2,937 2,794 2,844 3.1 Household Electrical 5,725 5,675 5,631 0.9 0.8 1.1 5,777 5,817 5,696 5,100 13.3 equipment... 1,881 1,902 1,852 1.2 1.5 1.6 1,879 1,818 1,761 1,825 3.1 Batteries... Transportation equipment... 134,292 134,115 132,727 0.1 1.0 1.0 133,794 135,424 128,122 4.4 132,616 4,298 4,553 4,353 ‐ 5.6 4.6 6.0 4,292 4,711 4,387 3,975 8.0 Automobiles... 4,725 Light trucks and utility vehicles... 4,795 4,861 ‐ 1.4 2.9 4.9 4,596 4,926 4,835 4,251 8.1 Heavy duty trucks ... 2,221 2,242 2,207 ‐ 0.9 1.6 ‐ 1.9 2,221 2,288 2,215 2,029 9.5 Motor vehicle bodies, parts, and 26,446 26,307 26,185 0.5 0.5 0.4 26,482 26,503 26,487 25,378 4.4 trailers... and parts... 68,096 67,872 67,013 0.3 1.3 0.8 67,814 68,686 66,613 65,098 4.2 aircraft Nondefense 3.1 aircraft parts... 13,177 13,322 13,321 ‐ 1.1 0.0 and 13,138 13,362 13,278 12,818 2.5 Defense and boats... 3,213 2,980 3,006 7.8 ‐ 0.9 0.2 3,277 2,974 2,977 2,963 10.6 Ships and related products... 8,068 8,053 8,091 0.2 ‐ 0.5 0.7 7,924 7,996 8,117 7,775 1.9 Furniture 0.7 durable goods... 24,252 24,078 23,992 0.7 0.4 23,981 24,101 23,942 23,013 4.2 Miscellaneous goods industries... 270,371 268,763 268, 185 0.6 0.2 270,609 269,313 267,144 263,873 2.6 Nondurable 0.6 Food products... 53,963 53,857 53,939 0.2 ‐ 0.2 0.4 52,949 53,623 53,569 53,707 ‐ 1.4 2.7 oilseed milling... 5,173 5,136 5,126 0.7 0.2 5,205 5,313 5,248 5,405 ‐ 3.7 Grain and products... 7,680 7,593 7,599 1.1 ‐ 0.1 ‐ 0.9 7,678 7,500 7,398 7,536 1.9 Dairy and Meat, seafood products... 9,222 9,220 9,285 0.0 ‐ 0.7 0.5 9,251 9,209 9,059 9,417 ‐ 1.8 poultry, 0.5 tobacco products... 24,957 24,814 24,699 0.6 and ‐ 0.5 25,250 25,234 25,132 24,754 2.0 Beverage Beverages... 20,372 20,294 20,177 0.4 0.6 0.5 20,571 20,521 20,371 19,968 3.0 ‐ 4,585 4,520 4,522 1.4 0.0 ‐ 0.7 4,679 4,713 4,761 4,786 ‐ 2.2 Tobacco... Textile 3,432 3,453 3,490 ‐ 0.6 ‐ 1.1 0.5 3,421 3,470 3,506 3,182 7.5 mills... 3,579 3,558 3,579 0.3 ‐ 0.6 0.5 3,567 3,596 3,607 3,434 4.2 Textile products... 1, 940 1,934 1,933 0.3 0.1 ‐ 0.4 1,900 1,934 1,938 1,875 1.3 Apparel... ‐ 756 789 797 814 ‐ 1.0 products... 2.1 ‐ 2.2 767 782 815 1.5 Leather and allied Paper products... 16,380 16,335 16,316 0.3 0.1 16,499 16,476 16,411 15,941 3.5 0.5 Pulp, paper, and paperboard mills... 6,820 6,767 6,752 0.8 0.2 1.4 6,936 6,863 6,789 6,608 5.0 containers... 5,061 5,050 5,048 0.2 0.0 0.0 5,080 5,097 5,082 4,998 1.6 Paperboard Printing... 5,598 5,667 0.0 ‐ 1.2 0.5 5,584 5,578 5,560 5,416 3.1 5,599 3.0 Petroleum coal products... 41,526 40,315 39,320 and 2.5 3.7 41,058 39,422 37,944 39,989 2.7 Petroleum refineries... 35,557 34,277 33,374 3.7 2.7 4.0 35,127 31,951 34,783 1.0 33,277 products... 90,987 90,862 91,179 0.1 ‐ 0.3 0.0 92,032 91,531 91,374 88,471 4.0 Chemical Pesticides, fertilizers, and other 2.1 agricultural chemicals... 4,844 4,746 2.1 1.9 5,376 5,334 5,182 4,911 9.5 4,947 Pharmaceuticals and medicines... 37,303 37,091 37,164 0.6 ‐ 0.2 ‐ 0.3 37,686 36,964 36,947 35,889 5.0 Paints, coatings, and adhesives... 3,954 3,934 3,966 0.5 ‐ 0.8 ‐ 0.1 4,053 4,015 3,986 3,959 2.4 Plastics rubber products... 27,232 27,239 27,249 0.0 0.0 ‐ 0.3 27,570 27,667 27,288 26,348 4.6 and p Preliminary Revised data due to late r and concurrent seasonal adjustment. receipts 1 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 Estimates period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for parameters. model the of review annual latest the holiday and trading ‐ day differences, where appropriate, as of well as seasonal variation, based on the results estimates ‐ adjustments concurrent include for adjusted Seasonally reporters. calendar non Estimates are not adjusted for price changes. 2 of inventories for the semiconductor industry data are included in computers and electronic products, and all other applicable aggregate totals. Estimates nonreporting. and response, Since the and Note: orders are subject to survey error and revision. One major component Estimates of survey error is nonsampling error, which includes errors of coverage, of manufacturers' shipments, inventories 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 . sources and methodology can be found on our website at March Full Report, May 2, 2019. Information on data Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, .

10 Table 5. Value of Manufacturers' Shipments, New Orders, Unfilled Orders, and Total Inventories for 2 1, Series Topical Orders in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Survey.] [Estimates are shown Not Seasonally Adjusted Seasonally Adjusted Monthly to Change date Monthly Percent Year 6 Change % Industry Feb. ‐ Jan. ‐ Dec. ‐ Mar. Feb. Jan. Mar. 2019/ Mar. Feb. Jan. r p p r p 2019 Mar. Feb. Jan. 2018 2019 2018 2018 2019 2019 2019 2019 2019 SHIPMENTS industries... 509,701 505,976 503,490 0.7 0.5 ‐ 0.3 manufacturing 469,660 466,970 518, 285 1,463,509 1,427,121 2.5 All 526,879 materials and supplies... 52,209 52,171 52,210 ‐ 0.1 0.4 51,618 46,210 46,157 50,913 143,985 139,901 2.9 Construction 0.1 25,501 25,455 25,396 0.2 0.2 0.0 27,727 technology... 21,567 26,138 71,805 67,092 7.0 Information 22,511 and related products... 1,746 1,842 1,784 ‐ 5.2 3.3 1,913 1,364 1,407 1,861 4,684 4,605 1.7 Computers 1.1 Motor vehicle and parts... 62,995 61,705 61,527 2.1 0.3 ‐ 1.0 67,465 61,245 56,896 63,033 185,606 171,715 8.1 goods... 91,773 91,463 91,417 0.3 0.1 ‐ 0.9 99,733 83,351 78,685 97,981 261,769 251,067 4.3 Capital 3 ‐ 219,210 79,199 79,039 78,471 0.2 0.7 1.5 85,602 71,362 68,046 85,881 225,010 2.6 ... goods capital Nondefense 401 aircraft... 69,792 69,591 0.0 0.3 1.0 75,031 64, 69,803 62,095 73,191 201,527 194,566 3.6 Excluding 4 31,857 36,759 12,100 15.4 10,639 12,574 12,424 12,946 1.2 ‐ 4.0 3.0 14,131 11,989 ... capital Defense goods 217,273 895 210,284 208,080 1.7 1.1 ‐ 0.5 213, 195,768 197,022 213,382 610,063 601,675 1.4 Consumer goods... durable goods... 44,748 44,124 44,251 1.4 ‐ 0.3 ‐ 48,133 43,441 40,196 46,106 131,770 124,116 6.2 Consumer 1.8 Consumer nondurable goods... 169, 147 166,160 163,829 1.8 1.4 0.2 169,140 152,327 156,826 167,276 478,293 477,559 0.2 ‐ ORDERS NEW 5 1.7 498,844 500,122 1.9 ‐ 0.3 0.0 508,192 462,788 465,038 529, 870 1,460,898 1,436,321 533,072 industries manufacturing All ... 46,844 supplies... 51,854 51,996 52,823 ‐ 0.3 ‐ 1.6 0.6 52,216 and 47,374 52,498 146,434 143,785 1.8 materials Construction 25,374 25,243 2.2 0.5 ‐ 1.0 29,265 22,870 21,726 27,447 73,861 69,118 6.9 Information technology... 25,942 related 1,748 1,834 1,824 ‐ 4.7 0.5 3.2 1,915 1,356 1,447 1,951 4,718 4,723 ‐ 0.1 and Computers products... 61,826 61,842 2.1 0.0 ‐ 0.5 67,652 62,138 57,161 63,302 186,951 172,666 8.3 vehicle Motor parts... and 63,095 92,114 262,779 ‐ 3.9 1.0 108,169 77,744 79,971 108,637 265,884 88,499 1.2 Capital goods... 94,363 6.6 3 94,171 75,526 79,541 6.5 ‐ 5.0 1.5 89,486 67,519 69,988 80,468 226,993 229,789 ‐ 1.2 goods capital Nondefense ... 68,959 1.4 0.0 0.9 75,978 65, 556 63,635 205,169 199,559 2.8 Excluding aircraft... 69,979 68,988 73,995 4 10,225 12,973 7.1 3.2 ‐ 1.8 13,895 12,573 9,983 14,466 38,891 32,990 17.9 18,683 Defense capital goods ... 825 207,962 1.7 1.1 ‐ 0.5 217,280 195,731 213, 213,592 610,151 602,217 1.3 197,140 Consumer goods... 210,225 40,314 goods... 44,133 1.4 ‐ 0.2 ‐ 1.7 48,140 43,404 44,065 46,316 131,858 124,658 5.8 durable Consumer 44,678 goods... 169,147 166,160 163,829 1.8 1.4 ‐ 0.2 169,140 152,327 156,826 167,276 478,293 477,559 0.2 Consumer nondurable ORDERS UNFILLED 5 0.2 0.1 1,189,441 1,179,670 1, 182,497 1,157,330 (X) (X) 2.8 1,181,211 1,178,477 1,181,219 0.2 ‐ ... All manufacturing industries 60,214 60,389 ‐ 0.6 ‐ 0.3 1.0 60,254 59,656 59,022 56,455 (X) (X) 6.7 Construction materials and supplies... 59,859 0.1 ‐ 116,628 115,090 114,731 113,172 (X) (X) 3.1 0.4 115,067 114,986 115,427 technology... Information ‐ 0.1 2,227 2,235 0.4 1.8 2,229 2,227 2,235 1,996 (X) (X) 11.7 ‐ 0.1 2,229 products... related and Computers 27,365 0.4 0.4 1.2 28,537 28,350 27,457 27,458 (X) (X) 3.9 Motor vehicle and parts... 27,586 27,486 ‐ 0.3 0.1 871,312 862,876 868,483 860,805 (X) (X) 1.2 Capital goods... 865,890 863,300 866,264 0.3 3 706,620 707,889 ‐ 0.5 0.2 711,403 707,519 711,362 713,391 (X) (X) ‐ 0.3 0.2 710,133 Nondefense capital goods ... 0.4 ‐ 0.3 222,987 222,040 220,885 219,483 221, (X) 1.6 443 221,267 222,071 0.1 ‐ aircraft... Excluding (X) 4 156,131 0.8 0.4 ‐ 0.2 159,909 155,357 158,001 147,414 (X) (X) 8.5 156,680 157,121 goods capital Defense ... ‐ 1.3 ‐ 2.5 4,574 4,567 5,353 (X) (X) ‐ 14.6 Consumer goods... 4,454 4,524 4,583 ‐ 1.5 4,604 4,583 ‐ 1.5 ‐ 1.3 ‐ 2.5 4,574 4,567 4,604 5,353 (X) (X) ‐ 14.6 Consumer durable goods... 4,454 4,524 INVENTORIES TOTAL 690,862 691,949 684,455 663,752 (X) (X) 4.0 685,778 .3 0.5 690,104 All manufacturing industries... 0 688,056 0.4 0.1 0.1 74,987 75,433 74,633 70,871 (X) (X) 5.8 0.1 Construction materials and supplies... 74,283 74,374 74,317 ‐ 37,713 (X) 5.2 Information technology... 40,214 39,969 39,849 0.6 0.3 0.2 39,681 40,206 39,442 (X) 1.8 3.7 3,660 3,496 (X) (X) 6.7 1.5 3,703 3,839 3,896 products... related and 3,729 Computers ‐ 3,978 37,591 35,633 (X) (X) 5.5 1.5 Motor vehicle 37,924 38,428 and parts... 37,760 37,963 37,470 ‐ 0.5 1.3 197,538 (X) (X) 4.9 Capital goods... 208,020 206,573 206,027 0.7 0.3 0.7 207, 250 207,696 204,597 3 183,082 181,744 174,897 (X) (X) 5.2 184, 0.6 0.3 0.7 184,726 183,639 184,917 064 ... capital Nondefense goods (X) (X) 5.6 Excluding aircraft... 129,116 128,158 128,035 0.7 0.1 0.5 128,391 128,694 127,120 121,540 4 23, 22,853 22,641 (X) (X) 2.4 186 22,970 23,103 22,934 22,945 0.7 0.0 1.3 ... goods capital Defense (X) 198,275 2.1 199,897 Consumer goods... 203,716 (X) 202,177 200,844 0.8 0.7 0.9 202,440 201, 786 31,873 31,442 29,416 (X) (X) 4.7 Consumer durable goods... 31,247 31,429 30,943 ‐ 0.6 1.6 1.5 30,797 169,901 169,913 168,859 (X) (X) 1.6 171,643 0.8 0.5 1.0 168,455 170,748 469 172, nondurable Consumer goods... X Not Applicable p Preliminary r data due to late receipts and concurrent seasonal adjustment. Revised 1 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 ‐ Estimates the Seasonally adjusted estimates calendar include concurrent adjustments for holiday and trading ‐ day differences, where appropriate, as well as seasonal variation, based on the results of reporters. latest annual review of the model parameters. Estimates are not adjusted for price changes. 2 series are regroupings of Topical 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 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; machinery; search and navigation equipment; electromedical, measuring, and control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad communications rolling stock; ships and equipment; supplies. and institutional furniture; and medical equipment and boats; office 4 ships capital goods industries include: small arms and ordnance; communications equipment; aircraft; space vehicles, and parts; Defense and boats; and search and navigation equipment. missiles, 5 percent changes Estimates and semiconductor industry data. exclude 6 Based on year ‐ to ‐ date for shipments and new orders, but on same month prior year for unfilled orders and inventories. of Note: of manufacturers' shipments, inventories and orders are subject to survey error and revision. One major component Estimates 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 . Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2019. Information on data sources and methodology can be found on our website at .

11 1 Table Value of Manufacturers' Inventories, by Stage of Fabrication, by Industry Group 6. are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] [Estimates Adjusted Not Seasonally Adjusted Seasonally Change Percent Change Monthly Monthly % Industry March 2019/ ‐ Dec. ‐ Mar. Feb. Jan. Mar. ‐ Jan. Feb. Jan. Mar. Feb. r p p r 2019 2019 Mar. Feb. Jan. 2018 2018 2019 2019 2019 2019 MATERIALS AND SUPPLIES 0.5 .. 238,387 238,660 manufacturing ‐ 0.1 ‐ 0.1 industries... 237,490 239,047 239,421 225,546 5.3 All 238,838 goods industries... 146,164 146,459 ‐ 0.1 ‐ 0.2 0.5 144,931 146,176 146,975 135,439 7.0 Durable 145,958 5,173 5,163 5,206 0.2 ‐ 0.8 ‐ 0.5 5,155 5,343 5,473 4,996 3.2 Wood products... mineral .4 products... 6,194 6,196 6,052 0.0 2 0.6 6,207 6,198 6,040 5,839 6.3 Nonmetallic 12,849 metals... 13,502 13,390 ‐ 2.8 0.8 1.2 13,121 13,496 13,520 12,087 6.3 Primary metal products... 20,702 20,708 20,672 0.0 0.2 ‐ 0.7 20,496 20,579 20,741 18,902 8.4 Fabricated 29,412 1.2 29,120 Machinery... ‐ 0.2 0.9 29,281 28,917 29,065 26,116 12.1 29,049 electronic products... 18,800 18,879 19,029 ‐ 0.4 ‐ 0.8 0.1 18,599 18,910 18,974 17,935 3.7 and Computers equipment, appliances, Electrical components... 8,457 8,475 8,451 ‐ 0.2 0.3 1.0 8,495 8,504 8,439 7,665 10.8 and 0.7 equipment... 32,278 32,533 ‐ 0.4 ‐ 0.8 32,143 32,056 32,388 32,672 30,522 5.0 Transportation and related products... 3,949 3,953 4,015 ‐ 0.1 ‐ 1.5 2.0 3,917 3,940 3,762 4.1 Furniture 4,047 Miscellaneous products... 8,007 7,961 7,991 0.6 ‐ 0.4 0.1 7,876 7,901 8,004 7,615 3.4 0.6 industries... 92,429 92,496 92,379 ‐ 0.1 0.1 92,559 92,871 92,446 90,107 2.7 Nondurable goods products... 17,898 17,895 17,742 0.0 0.9 1. 0 17,606 17,863 17,726 ‐ 0.7 Food 17,738 Beverage and tobacco products... 5,959 5,988 6,013 ‐ ‐ 0.4 0.4 6,043 6,167 6,188 5,958 1.4 0.5 Textiles... 1,183 1,190 1,190 ‐ 0.6 0.0 ‐ 0.7 1,175 1,192 1,190 1,089 7.9 Textile 1,363 products... 1,371 1,359 1,359 0.9 0.0 1.8 1,373 1,359 1,315 4.4 Apparel... 504 521 ‐ 1.8 ‐ 1.5 0.8 501 516 524 492 1.8 513 and allied products... 279 278 280 0.4 ‐ 0.7 ‐ 0.4 271 273 279 238 13.9 Leather products... ‐ 8,240 8,237 8,197 0.0 0.5 0.2 8,274 8,287 8,277 8,048 2.8 Paper . ‐ ... 798 2,832 2,894 ‐ 1.2 ‐ 2.1 0.3 2,790 2,827 2,859 2,789 0.0 Printing 2, and coal products... 11,348 11,160 11,071 1.7 0.8 ‐ 0.3 11,468 10,970 10,569 11,836 ‐ 3.1 Petroleum Chemical 31,379 31,530 31,688 ‐ 0.5 ‐ 0.5 1.4 31,578 31,931 31,829 29,723 6.2 products... 0.8 rubber products... 11,470 11,514 11,424 ‐ 0.4 ‐ 0.4 11,480 11,607 11,509 10,893 5.4 Plastics and IN PROCESS WORK 212,056 industries... .. All 210,595 208,533 0.7 1.0 0. 6 212,048 211,913 207,304 205,328 3.3 manufacturing 1.2 industries... 155,572 154,741 152,887 0.5 goods 0.6 155,354 156,064 151,918 150,296 3.4 Durable Wood products... 2,209 2,206 2,196 0.1 0.5 ‐ 1.5 2,286 2,264 2,221 2,270 0.7 Nonmetallic 1,572 mineral products... 1,572 1,586 0.0 ‐ 0.9 ‐ 0.3 1,629 1,624 1,596 1,592 2.3 Primary 10,616 10,685 10,658 ‐ 0.6 0.3 ‐ 1.0 10,498 10,643 10,544 9,912 5.9 metals... 0.9 products... 14,192 14,146 14,132 0.3 0.1 14,132 14,162 14,043 13,595 3.9 Fabricated metal 18,497 18,389 18,386 0. 6 0.0 0.4 18,317 18,505 18,112 18,606 ‐ Machinery... 1.6 Computers and electronic products... 12,599 12,513 12,367 0.7 1.2 ‐ 0.3 12,653 12,118 13,344 ‐ 5.2 12,650 Electrical equipment, appliances, and components... 4,243 4,229 4,178 0.3 1.2 ‐ 0.7 4,266 4,292 4,174 11.6 3,822 equipment... 86,336 85,749 84,169 0.7 1 .9 1.0 86,325 86,662 83,901 82,094 5.2 Transportation 0.6 Furniture related products... 1,367 1,375 1,362 ‐ and 1.0 0.3 1,356 1,371 1,373 1,413 ‐ 4.0 Miscellaneous products... 3,941 3,877 3,853 1. 7 0.6 0.7 3,895 3,888 3,836 3,648 6.8 Nondurable goods industries... 56,484 55,854 55,646 1.1 0.4 0.8 56,694 55,849 55,386 55,032 3.0 0.7 products... . 6,083 5,967 6,007 1.9 ‐ 2.9 6,036 6,153 6,287 6,376 ‐ 5.3 Food Beverage and tobacco products... 9,685 9,636 9,531 0.5 1.1 0.2 9,858 9,886 9,865 9,443 4.4 Textiles... 736 745 0.0 ‐ 1.2 1.6 733 737 742 707 3.7 736 Textile 431 432 430 ‐ 0.2 0.5 ‐ 1.1 433 437 432 419 3.3 products... 354 2.6 1.8 ‐ 0.3 343 345 329 305 12.5 345 Apparel... 339 ‐ and products... 72 76 78 ‐ 5.3 allied 2.6 ‐ 2.573778078 ‐ 6.4 Leather products... ... 1,351 1,360 1,354 ‐ 0.7 0.4 1.3 1,354 1,356 1,349 1,253 8.1 Paper ... 1,215 1,209 1.7 0.5 1.3 1,245 1,210 1,171 1,101 13.1 Printing 1,236 .7 and products... 13,250 12,806 12,592 3.5 1 8.1 13,261 12,566 11,858 12,968 2.3 Petroleum coal products... 20,102 20,092 20,149 0.0 ‐ 0.3 ‐ 3.4 20,143 19,849 20,071 19,294 4.4 Chemical rubber products... 3,184 3,189 3,212 ‐ 0.2 ‐ 0.7 ‐ 0.3 3,215 3,233 3,202 3,088 4.1 Plastics and GOODS FINISHED manufacturing industries... .. 240,419 238,801 238,407 0.7 All 0. 5 240,566 240,989 237,730 232,878 3.3 0.2 goods industries... 118,961 118,388 118,247 0.5 0.1 0.6 119,210 120,396 118,418 114,144 4.4 Durable Wood 4,901 4,911 4,979 ‐ 0.2 ‐ 1.4 ‐ 0.2 5,133 5,104 5,042 5,114 0.4 products... 1.2 Nonmetallic products... 7,208 7,179 7,265 0.4 ‐ mineral ‐ 1.1 7,414 7,379 7,303 6,952 6.6 Primary metals... 12,676 12,451 12,628 1.8 ‐ 1.4 0.6 12,808 12,585 12,726 11,840 8.2 metal products... 20,029 20,024 19,965 0.0 0.3 0.6 20,352 20,353 20,003 19,214 5.9 Fabricated Machinery... 23,795 23,404 1.0 0 .6 0.2 24,099 24,076 23,530 22,877 5.3 23,551 12,063 electronic products... 12,043 11,880 11,902 1.4 ‐ 0.2 0.1 11,644 11,776 11,364 2.5 and Computers equipment, appliances, Electrical components... 7,440 7,339 7,217 1.4 1 .7 1.6 7,486 7,465 7,196 6,927 and 8.1 Transportation equipment... 15,813 16,088 16,025 ‐ 1.7 0.4 1.9 15,413 16,374 16,043 15,506 ‐ 0.6 0.4 related products... 2,752 2,725 2,714 1.0 Furniture ‐ 0.8 2,651 2,685 2,697 2,600 2.0 and Miscellaneous products... 12,304 12,240 12,148 0. 5 0.8 1.1 12,210 12,312 12,102 3.9 11,750 Nondurable industries... 120,413 120,160 0.9 0.2 0.4 121,356 120,593 119,312 118,734 2.2 goods 121,458 ‐ Food 29,982 29,995 30,190 0.0 ‐ 0.6 products... 0.5 29,307 29,732 29,419 29,605 ‐ 1.0 . Beverage and tobacco products... 9,313 9,190 9,155 1.3 0.4 ‐ 1.9 9,349 9,181 9,079 0.0 9,353 1,513 1,527 1,555 ‐ 0.9 ‐ 1.8 0.8 1,513 1,541 1,574 1,386 9.2 Textiles... Textile ‐ products... 1,765 1,767 1,790 ‐ 0.1 1.3 0.0 1,773 1,796 1,816 1,700 4.3 1.0 Apparel... 1,076 1,073 0.6 0.3 ‐ 1,082 1,056 1,073 1,085 1,078 ‐ 2.0 Leather and allied products... 438 443 456 ‐ 1.1 ‐ 2.9 ‐ 3.2 423 432 456 440 ‐ 3.9 Paper products... . 6,789 6,738 6,765 0.8 ‐ 0.4 1.0 6,871 6,833 6,785 6,640 3.5 Printing 1,564 1,552 1,564 0.8 ‐ 0.8 1.5 1,549 1,541 1,530 1,526 1.5 ... .4 coal products... 16,928 16,349 15,657 3.5 4 3.2 16,329 15,886 15,517 15,185 7.5 Petroleum and products... 39,506 39,240 39,342 0.7 ‐ 0.3 0.7 40,311 39,751 39,454 2.2 Chemical 39,474 Plastics and rubber products... 12,578 12,536 12,613 0.3 ‐ 0.6 12,875 0.2 12,577 12,367 4.1 ‐ 12,827 p Preliminary r data due to late receipts and Revised concurrent seasonal adjustment. 1 Estimates of shipments and new orders are for the duration of the period, while estimates of unfilled orders and total are for the end of the period. Not seasonally adjusted estimates of shipments and new orders include adjusted data for inventories parameters. model the of review annual latest the of for holiday and trading ‐ day differences, where appropriate, as well as seasonal variation, based on the results adjustments concurrent include estimates adjusted Seasonally reporters. calendar ‐ non price adjusted for not changes. Estimates are of survey error is nonsampling error, which includes errors of coverage, response, and nonreporting. Since the survey Estimates of manufacturers' shipments, inventories and orders are subject to survey error and revision. Note: One major component panel is not a probability sample, estimates of sampling error cannot be calculated. For further details on survey design, methodology, and data limitations see . data 2, (M3) Survey, March Full Report, May 2019. Information on Orders sources and methodology can be found on our website at and Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, .

12 Table Ratios of Manufacturers' Inventories to Shipments and Unfilled Orders 7. 1 by Industry Group Shipments, to Seasonally Adjusted data from the Manufacturers' Shipments, Inventories, and Orders Survey.] on [Based 2 Inventory/Shipments ratio Unfilled ratio Orders/Shipments Dec Feb Jan Dec Industry Jan Mar Feb Mar p r r p 2018 2019 2018 2019 2019 2019 2019 2019 3 (X) (X) (X) 1.36 1.36 1.36 1.35 (X) ... manufacturing All industries 3 1.62 6.57 1.62 1.62 6.56 1.60 6.56 6.55 ... ... goods Durable industries products... 1.35 1.34 1.36 1.37 (X) (X) (X) (X) Wood mineral products... 1.33 1.34 1.34 1.35 (X) (X) (X) (X) Nonmetallic 1.49 metals... 1.71 1.73 1.70 1.50 1.71 1.49 1.47 Primary metal products... 1.61 1.62 1.62 1.62 2.59 2.62 2.63 2.62 Fabricated 2.16 3.53 2.13 2.14 3.51 3.50 Machinery... 3.59 2.12 3 1.56 5.38 1.56 1.55 5.35 1.56 5.42 5.42 ... products electronic and Computers equipment, appliances, Electrical components ... ... ... 1.74 1.74 1.73 1.72 1.81 1.82 1.82 1.85 and equipment... Transportation 1.44 14.43 14.41 14.36 14.18 1.49 1.47 1.48 1.20 and products... 1.19 1.20 1.22 1.41 1.46 1.50 1.49 Furniture related products... 1.78 1.77 1.77 1.75 (X) (X) (X) Miscellaneous (X) industries ... 1.08 1.09 1.09 1.09 (X) (X) (X) (X) Nondurable goods (X) 0.80 0.81 0.80 (X) 0.80 (X) (X) Food products... and tobacco products... 2.08 2.03 1.96 1.98 (X) (X) (X) (X) Beverage 1.37 1.40 Textiles... 1.39 (X) (X) (X) (X) 1.39 (X) 1.55 1.54 1.53 1.49 Textile (X) (X) (X) products... 2.03 2.02 1.99 1.97 (X) (X) (X) (X) Apparel... Leather and allied products... 1.87 1.83 1.88 1.97 (X) (X) (X) (X) Paper 1.02 1.01 1.01 1.01 (X) (X) (X) (X) products... (X) ... .84 0.84 0.85 0.85 0 (X) (X) (X) Printing... ... and coal products... 0.75 0.77 0.78 0.75 (X) (X) (X) (X) Petroleum Chemical 1.36 1.37 1.37 1.37 (X) (X) (X) (X) products... 1.37 Plastics rubber products... 1.37 1.37 and 1.38 (X) (X) (X) (X) X Not Applicable p Preliminary r Revised data due to receipts and concurrent seasonal adjustment. late 2 Excludes the following industries with no unfilled orders: Wood products; nonmetallic mineral products; medical equipment and supplies; office supplies; other miscellaneous and manufacturing; cutlery and handtools; farm garden machinery; computer storage and peripheral devices; audio and video vehicles; heavy utility duty trucks; and trucks reproducing and manufacturing equipment; and light batteries; media; optical and magnetic automobiles; miscellaneous furniture. 3 Unfilled manufacturing. semiconductor excludes ratio shipments to orders Estimates of manufacturers' shipments, inventories and orders are subject to Note: survey error and revision. One major component of survey error is of Since nonsampling error, which includes errors of coverage, response, and nonreporting. the survey panel is not a probability sample, estimates sampling see limitations data and methodology, design, survey on details further For calculated. be cannot error . Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, March Full Report, May 2, 2019. Information on data sources on . at website our found be can methodology and 1 8. Revisions to Previously Published Table Percent Changes Monthly on Seasonally Adjusted data from [Based Manufacturers' Shipments, Inventories, and Orders Survey.] the Orders New Shipments Inventories Unfilled Orders 3 3 3 3 Mar Mar Mar Mar 2018 2018 ‐ 2018 ‐ 2018 ‐ ‐ Industry 2 2 2 2 Feb Feb Feb Feb Mar Mar Mar Mar 2019 2019 2019 2019 2019 2019 2019 2019 All manufacturing industries... (X) 0.1 (X) (X) 0.1 (X) 0.1 0.2 goods industries... 0.1 Durable 0.2 ‐ 0.1 0.3 ‐ 0.1 0.1 0.0 0.1 products... (X) Wood 0.4 (X) (NA) (X) (NA) (X) 0.2 Nonmetallic products... (X) mineral 0.3 (X) (NA) (X) 0.2 (NA) (X) Primary metals... ‐ 0.2 0.3 ‐ 0.2 0.7 ‐ 0.1 0.3 0.0 0.3 Fabricated metal products... 0.0 0.2 0.3 ‐ 0.3 0.2 0.1 ‐ 0.2 0.8 ‐ 0.0 Machinery... ‐ 0.2 0.7 ‐ 0.1 0.2 0.0 0.2 0.3 and Computers electronic products... 0.4 0.2 0.0 0.6 ‐ 0.1 0.1 ‐ 0.4 0.2 Electrical equipment, appliances, and 0.2 ... ... ... components 0.4 0.3 0.2 0.2 0.3 0.6 0.4 0.0 equipment... 0.0 0.3 0.0 0.6 0.0 0.1 0.0 Transportation Furniture and related products... (X) (X) 0.6 (X) 0.7 (X) 0.3 0.5 Miscellaneous products... (X) 0.1 0.1 (X) 0.1 (X) 0.1 (X) (X) goods industrie s... Nondurable (X) 0.1 (NA) (X) (NA) (X) 0.1 products... (X) Food 0.2 0.1 (NA) (X) (NA) (X) (X) products... Beverage and tobacco (X) 0.3 (NA) (X) (NA) (X) 0.2 (X) Textiles... (X) (X) (NA) (X) (NA) (X) 0.3 0.4 Textile products... (X) (X) (NA) 0.3 (NA) (X) 0.2 (X) Apparel... (X) (X) (NA) (X) 0.4 (NA) 0.6 (X) (X) products... allied and Leather (X) (X) (NA) (X) 0.8 (NA) 0.6 (X) products... Paper (NA) 0.2 0.2 (X) (NA) (X) (X) Printing... ... ... (X) 0.4 (NA) (X) (NA) (X) 0.4 (X) (X) and coal products... Petroleum 0.5 (X) (NA) (X) (X) 0.5 (NA) products... (X) Chemical (X) 0.2 0.2 (X) (NA) (NA) (X) products... and Plastics rubber (X) 0.2 0.2 (NA) (X) (NA) (X) (X) Applicable X Not NA Available Not 1 of estimates while period, the of duration the for are orders new and shipments of Estimates are for the and orders inventories unfilled total data seasonally Not period. the of end adjusted estimates of shipments and Seasonally reporters. calendar ‐ non for new adjusted include orders variation, seasonal and as well for as appropriate, where differences, day ‐ trading holiday adjustments estimates adjusted include concurrent price changes. for adjusted not are Estimates parameters. model the of review annual latest the of results the on based 2 difference between the advance percent change and the percent change as shown in this publication. The current month revisions are the 3 estimates. final and preliminary the of changes percent month ‐ to The month the between differences the are revisions month twelve The ‐ averages of the absolute values of the differences for the months specified. The advance to final percent monthly averages are the simple shown month. the for report advance the are in change industries goods durable the for revisions of survey error and revision. One major component Note: Estimates of manufacturers' shipments, inventories and orders are subject to survey errors nonreporting. Since the survey panel is not a probability sample, and response, error is nonsampling coverage, error, which includes of be For see cannot error sampling of limitations calculated. data and methodology, design, survey on details further estimates . Orders (M3) Survey, March Full Report, May 2, 2019. Information on Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and methodology at website our on found be can and sources data .

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