More information is available in the M3 Instruction Manual. PDF [1.5mb]
Shipments - Manufacturers’ shipments measure the dollar value of products sold by manufacturing establishments
and are based on net selling values, f.o.b. (free on board) plant, after discounts and allowances are excluded. Freight charges and excise taxes are
excluded. Where the products of an industry are customarily delivered to distributors or consumers by the manufacturing establishment (such as in
certain foods industries – fluid milk, bakery, soft drinks), the value is based on delivered price rather than f.o.b. plant price. Multi-industry companies
report value information for each industry category as if it were a separate economic unit. Thus, products transferred from one plant to another are
valued at their full economic value.
New Orders - A new order is a communication of an intention to buy for immediate or future delivery. Orders data are
not collected from industries that have mostly immediate deliveries. See Part H to determine if the M3 survey request orders data for your industry
category. Only orders supported by binding legal documents (such as signed contracts, letters of intent, or letters of award) should be included.
Reported data should include all new orders received during the month less cancellations.
Order Backlog (Unfilled Orders)
- Generally, unfilled orders at the end of an accounting period
are equal to unfilled orders at the beginning of the period, plus
new orders net of cancellations received during the period, less
net sales. This includes orders that have not yet passed through
the sales account and funded orders (or portions of orders) for
which the value of work done has not been reported as sales.
Total Inventory - Total inventories represent the value of the end-of-month stocks regardless of stage of
fabrication (whether in the form of purchased materials and supplies, work in process, or finished goods). These inventories are valued at cost using
any valuation method other than LIFO. Inventories associated with the non-manufacturing activities of your company are excluded.
Materials-and-Supplies Inventory - All unprocessed raw and semifabricated commodities and supplies for which you have
- Accumulated costs of all commodities undergoing fabrication
within your plants and long-term contracts where the inventory
costs are for undelivered items and the value of work done that
has not been reported in sales.
Finished Good Inventory - The value of all completed products ready for shipment and all inventories and goods bought for resale requiring no further processing or assembly.
No accumulation of finished goods inventories should occur with long-term contracts unless the total sales receipts are not recorded until the time of delivery.
Notice of Revisions Due to Updated Seasonal Adjustment Models:
On May 15, 2014, monthly seasonally adjusted data for Manufacturers’ Shipments, Inventories, and Orders, based on the
North American Industry Classification System, will be revised for January 1992 through March 2014. There will
be no accompanying press release containing revised seasonally adjusted data for January through March of 2014, and
historical data not seasonally adjusted will be unchanged. These revisions to the historical seasonally adjusted
data will be based on the results of the recent annual review of the seasonal adjustment models. These updated
models will also be used to produce seasonally adjusted data from the Manufacturers’ Shipments, Inventories, and
Orders Survey, beginning with the April 2014 Advance Report on Durable Goods scheduled for release on May 27, 2014 and the
full report scheduled for release on June 3, 2014. Please call Chris Savage on (301) 763-4832 with any questions
regarding this notice.
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If you have questions, e-mail
or call (301)763-4832.
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