HIGHLIGHTS FROM THE PRELIMINARY REPORT ON MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS

March 2008 --------------- Released 10:00 A.M. EDT May 2, 2008
(M3-2(08)-03)
Note: All figures in text are in seasonally adjusted current dollars
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Summary

New orders for manufactured goods in March, up following two consecutive monthly decreases, increased $5.9 billion or 1.4 percent to $432.3 billion, the U.S. Census Bureau reported today. This followed a 0.9 percent February decrease. Shipments, up two of the last three months, increased $4.9 billion or 1.1 percent to $428.7 billion. This followed a 1.9 percent February decrease. Unfilled orders, up thirty-four of the last thirty-five months, increased $8.9 billion or 1.1 percent to $832.3 billion. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 1.0 percent February increase. The unfilled orders-to-shipments ratio was 5.49, down from 5.50 in February. Inventories, up thirteen of the last fourteen months, increased $5.0 billion or 0.9 percent to $544.3 billion. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.7 percent February increase. The inventories-to-shipments ratio was 1.27, unchanged from February.

New Orders

New orders for manufactured durable goods in March, up following two consecutive monthly decreases, increased $0.3 billion or 0.1 percent to $213.7 billion, revised from the previously published 0.3 percent decrease. This followed a 0.6 percent February decrease.

New orders for manufactured nondurable goods increased $5.6 billion or 2.6 percent to $218.6 billion.

Shipments

Shipments of manufactured durable goods in March, down four of the last five months, decreased $0.8 billion or 0.4 percent to $210.1 billion, unchanged from the previously published decrease. This followed a 2.6 percent February decrease.

Shipments of manufactured nondurable goods, up two of the last three months, increased $5.6 billion or 2.6 percent to $218.6 billion. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 1.1 percent February decrease. This increase was led by petroleum and coal products, which increased $4.4 billion or 8.7 percent to $55.0 billion. The petroleum and coal products were also at the highest level since the series was first stated on a NAICS basis in 1992.

Unfilled Orders

Unfilled orders for manufactured durable goods in March, up thirty-four of the last thirty-five months, increased $8.9 billion or 1.1 percent to $832.3 billion, revised from the previously published 0.9 percent increase. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 1.0 percent February increase.

Inventories

Inventories of manufactured durable goods in March, up eight of the last nine months, increased $3.1 billion or 1.0 percent to $326.6 billion, revised from the previously published 1.1 percent increase. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.4 percent February increase.

Inventories of manufactured nondurable goods, up six of the last seven months, increased $1.9 billion or 0.9 percent to $217.7 billion. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 1.1 percent February increase. Petroleum and coal products drove the increase, up $2.0 billion or 4.9 percent to $43.6 billion.

By stage of fabrication, March materials and supplies increased 0.6 percent in durable goods and 0.2 percent in nondurable goods. Work in process increased 1.6 percent in durable goods and 0.5 percent in nondurable goods. Finished goods increased 0.6 percent in durable goods and 1.5 percent in nondurable goods.

Released May 2, 2008. Note: All figures in text are in seasonally adjusted current dollars. The advance report on durable goods for April is scheduled for May 28, 2008 at 8:30 a.m. and the full report on June 3, 2008 at 10:00 a.m. The benchmark report is scheduled for release on May 16, 2008 at 10:00 a.m. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.

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