Production and business activity
INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
Industrial production and capacity utilization fell in March.
[GRAPHICS OMITTED][Monthly data seasonally adjusted]
Industry
Total industrial production
production (1) indexes,
1997=100
Percent change (2) Manufacturing
From From
Period Index, preceding year Total (1)
1997=100 month earlier
1993 80.8 … 3.3 78.8
1994 85.1 … 5.4 83.6
1995 89.2 … 4.9 88.0
1996 93.1 … 4.4 92.1
1997 100.0 … 7.4 100.0
1998 105.6 … 5.6 106.5
1999 110.1 … 4.3 111.8
2000 115.3 … 4.7 117.4
2001 111.2 … -3.5 112.6
2002 110.5 … -.7 111.4
2002: Mar 109.6 0.4 -3.0 110.7
Apr 110.1 .4 -2.2 111.0
May 110.4 .3 -1.3 111.4
June 110.8 .3 -.3 111.9
July 111.6 .7 .5 112.3
Aug 111.3 -.2 .6 112.4
Sept 111.2 -.1 1.2 112.1
Oct 110.6 -.6 1.0 111.4
Nov 110.8 .2 1.8 111.6
Dec (r) 109.9 -.8 1.4 110.6
2003: Jan (r) 110.8 .8 1.7 111.3
Feb (r) 110.7 -.1 1.4 111.0
Mar (p) 110.1 -.5 .5 110.8
Industry production indexes, 1997=100
Manufacturing
Other
Period Durable Nondurable (non-NAICS) Mining
(1)
1993 69.3 91.3 93.8 94.4
1994 75.4 94.5 93.1 96.6
1995 82.0 96.2 93.2 96.4
1996 89.1 96.5 92.5 98.1
1997 100.0 100.0 100.0 100.0
1998 110.3 101.4 106.5 98.2
1999 119.3 102.2 109.9 94.0
2000 129.4 102.9 112.4 96.0
2001 122.9 99.8 109.1 96.6
2002 121.1 99.5 105.5 93.8
2002: Mar 119.8 99.5 105.0 93.6
Apr 120.5 99.5 104.1 93.4
May 121.2 99.7 104.2 93.4
June 121.8 99.9 105.5 93.5
July 122.2 100.4 105.0 94.4
Aug 122.7 100.0 105.8 93.9
Sept 122.0 100.0 107.1 92.2
Oct 121.5 99.1 106.7 92.3
Nov 122.2 98.9 105.4 93.6
Dec (r) 120.5 98.3 105.9 95.2
2003: Jan (r) 122.1 98.3 105.3 93.8
Feb (r) 121.4 98.1 107.0 94.2
Mar (p) 120.9 98.2 107.3 94.7
Industry Capacity utilization
production rate
indexes, (output as percent
1997=100 of capacity) (1)
Total Total
Period Utilities industry manufacturing
1993 91.5 81.1 80.0
1994 92.8 83.3 82.4
1995 96.4 83.6 82.8
1996 99.7 82.5 81.2
1997 100.0 83.7 82.7
1998 101.5 82.9 81.9
1999 103.9 82.4 81.4
2000 106.4 82.7 81.4
2001 105.6 77.3 75.6
2002 110.2 75.6 (r) 73.7
2002: Mar 108.0 75.3 73.5
Apr 110.6 75.6 73.6
May 110.1 75.7 73.9
June 110.1 75.9 74.1
July 113.7 76.4 74.3
Aug 110.4 76.1 74.3
Sept 113.3 76.0 74.1
Oct 112.1 75.5 73.7
Nov 112.1 75.6 73.7
Dec (r) 110.5 74.9 73.0
2003: Jan (r) 114.9 75.4 73.4
Feb (r) 116.4 75.3 73.1
Mar (p) 111.6 74.8 72.9
(1) Total industry and total manufacturing series include
manufacturing as defined in the North American Industry
Classification System (NAICS) plus those industries–logging
and newspaper, periodical, book and directory-publishing–that
have traditionally been included in manufacturing.
(2) Percent changes based on unrounded indexes.
Note.–Data based on the North American Industry Classification
System (NAICS) except series as defined in footnote 1.
Source: Board of Governors of the Federal Reserve System.
INDUSTRIAL PRODUCTION–MAJOR MARKET GROUPS AND SELECTED MANUFACTURES
[1997=100; monthly data seasonally adjusted]Products and nonindustrial supplies
Final products
Consumer goods Equipment
Non-
Period Total Total Durable durable Total Business
goods goods (1) equipment
1993 83.1 87.3 75.3 91.8 75.4 69.8
1994 86.7 91.5 84.5 94.1 78.1 73.4
1995 90.4 94.4 89.1 96.3 82.9 79.5
1996 93.8 96.4 92.9 97.7 89.0 87.0
1997 100.0 100.0 100.0 100.0 100.0 100.0
1998 105.6 103.6 107.2 102.3 109.7 111.1
1999 108.2 105.4 114.6 102.2 113.8 116.9
2000 112.1 107.8 119.0 103.9 120.8 126.5
2001 109.0 106.5 112.2 104.3 113.8 117.3
2002 107.2 107.5 117.3 104.1 105.2 107.3
2002: Mar 107.2 107.4 115.7 104.4 105.4 107.8
Apr 107.2 107.5 116.5 104.4 105.3 107.7
May 107.1 107.3 117.2 103.9 105.6 108.0
June 107.5 107.8 118.6 104.1 105.7 108.0
July 107.9 108.5 120.0 104.6 105.2 107.3
Aug 107.6 107.8 119.3 103.8 106.0 108.1
Sept 107.4 107.9 118.7 104.2 105.0 106.9
Oct 106.6 107.0 117.0 103.6 104.5 106.0
Nov 107.1 107.8 121.0 103.3 104.2 106.1
Dec (r) 106.0 106.6 117.8 102.8 103.3 104.6
2003: Jan (r) 107.1 107.7 120.7 103.4 104.3 105.7
Feb (r) 106.8 107.4 118.6 103.5 104.2 105.4
Mar (p) 106.3 106.8 117.7 103.1 104.0 105.1
Products and nonindustrial supplies
Final
products
Equipment Nonindustrial supplies Materials
Busi-
Defense Cons- ness Total
Period and space Total truction supp- (1) Energy
equipment supplies lies
1993 105.2 79.4 83.2 77.1 79.2 94.7
1994 101.6 84.0 89.1 81.0 84.0 95.6
1995 100.8 88.1 91.4 86.1 88.7 97.4
1996 99.2 92.8 95.6 91.1 92.6 99.4
1997 100.0 100.0 100.0 100.0 100.0 100.0
1998 104.2 106.7 105.0 107.8 105.2 99.2
1999 103.4 112.2 107.3 115.5 111.2 98.9
2000 99.3 118.8 110.2 124.7 117.0 99.3
2001 100.1 115.3 105.5 121.9 111.8 97.5
2002 101.2 114.6 104.0 121.9 112.2 98.7
2002: Mar 99.8 113.3 104.0 119.7 110.7 97.9
Apr 99.9 113.9 104.0 120.7 111.6 98.6
May 100.6 114.6 104.6 121.5 112.2 98.5
June 101.2 114.8 104.5 121.8 112.6 98.6
July 101.2 115.5 104.4 123.2 113.8 101.0
Aug 101.9 115.4 104.8 122.6 113.6 99.3
Sept 102.0 115.8 104.5 123.6 113.4 99.1
Oct 102.5 115.4 104.2 123.1 112.8 98.4
Nov 101.7 114.9 103.8 122.5 113.1 99.4
Dec (r) 102.3 113.9 102.4 121.9 112.4 99.7
2003: Jan (r) 104.1 114.7 102.6 123.1 113.1 100.8
Feb (r) 104.1 115.0 102.2 123.9 113.1 101.6
Mar (p) 104.5 114.2 102.0 122.8 112.5 100.1
(1) Includes other items, not shown separately.
[1997=100; monthly data seasonally adjusted]Durable manufacturers
Primary metal
Iron and Fabricated
Period Total steel metal Machinery
products products
1993 86.2 86.5 79.9 78.9
1994 92.6 93.3 87.0 86.3
1995 93.7 94.8 92.2 92.3
1996 95.9 97.1 95.6 95.3
1997 100.0 100.0 100.0 100.0
1998 102.3 100.4 103.0 101.9
1999 101.7 100.0 103.8 99.6
2000 98.8 100.3 108.2 106.6
2001 88.2 86.7 100.5 95.1
2002 85.6 88.7 99.0 87.9
2002: Mar 85.1 85.5 98.2 88.0
Apr 84.6 85.1 98.4 88.3
May 85.9 90.0 99.7 88.5
June 86.2 89.0 99.3 88.9
July 85.0 88.1 99.7 88.4
Aug 87.6 93.0 99.3 89.4
Sept 85.0 88.8 99.4 88.2
Oct 87.6 94.5 99.8 86.8
Nov 86.2 92.6 98.7 87.4
Dec (r) 84.1 88.5 98.3 85.8
2003: Jan (r) 85.0 91.1 98.6 86.8
Feb (r) 84.5 89.8 97.9 87.0
Mar (p) 83.6 87.3 97.6 86.4
Durable manufactures
Computer and Transportation
electronic products equipment
Selected Motor
Period Total high- Total vehicles
technology and parts
(1)
1993 37.1 25.6 85.8 77.7
1994 44.1 33.2 89.8 89.3
1995 57.6 47.4 90.0 92.0
1996 73.9 66.8 91.7 92.7
1997 100.0 100.0 100.0 100.0
1998 128.2 138.9 108.7 105.1
1999 166.4 197.2 114.4 116.4
2000 221.1 281.4 110.5 116.3
2001 223.7 290.4 104.1 107.6
2002 220.4 (r) 291.6 (r) 106.1 117.3
2002: Mar 216.9 284.0 104.3 113.3
Apr 217.9 286.9 105.5 115.9
May 220.0 290.8 105.2 115.8
June 220.8 293.1 106.7 118.6
July 221.5 293.6 108.4 122.1
Aug 223.0 296.8 108.5 122.0
Sept 223.2 296.3 107.7 121.1
Oct 224.2 299.5 105.9 118.3
Nov 224.5 301.7 109.1 123.9
Dec (r) 224.5 299.9 105.5 117.8
2003: Jan (r) 226.5 302.3 109.0 123.0
Feb (r) 226.2 304.7 107.1 120.1
Mar (p) 227.9 309.5 105.9 117.8
Nondurable manufactures
Printing
Period Apparel and Chemical Food
support
1993 101.7 94.8 89.0 96.3
1994 103.9 95.9 91.3 96.8
1995 103.9 97.3 92.7 99.2
1996 101.1 98.0 94.6 97.3
1997 100.0 100.0 100.0 100.0
1998 94.4 100.9 101.3 104.2
1999 90.6 101.9 103.8 105.1
2000 87.2 102.5 105.9 106.3
2001 78.1 98.0 105.3 105.0
2002 72.2 97.8 105.1 105.6
2002: Mar 74.0 95.2 105.2 106.0
Apr 72.4 95.5 105.1 105.9
May 72.9 96.2 105.0 105.6
June 72.7 95.5 105.7 105.5
July 72.9 98.4 106.9 105.5
Aug 71.4 98.6 106.2 105.3
Sept 72.2 99.9 106.1 105.8
Oct 70.2 99.5 104.6 105.6
Nov 70.6 98.4 104.2 104.7
Dec (r) 69.8 98.9 103.4 104.9
2003: Jan (r) 69.5 99.9 103.8 104.7
Feb (r) 69.7 99.9 104.4 103.6
Mar (p) 68.4 99.0 104.9 104.2
(1) Computers and office equipment, communications equipment,
and semiconductors and related electronic components.
Source: Board of Governors of the Federal Reserve System.
NEW CONSTRUCTION
[Monthly data seasonally adjusted]Private
Residential
Total new New Commercial
Period construction Total Total housing and indus-
expenditures (1) units trial (2)
Billions of dollars
1993 491.0 375.1 225.1 150.9 81.5
1994 539.2 419.0 258.6 176.4 93.3
1995 557.8 427.9 247.4 171.4 110.9
1996 615.9 476.6 281.1 191.1 125.2
1997 653.4 502.7 289.0 198.1 136.6
1998 705.7 551.4 314.6 224.0 151.1
1999 765.9 596.3 350.6 251.3 153.1
2000 820.3 641.8 374.5 265.0 164.1
2001 842.5 650.0 388.7 279.8 155.8
2002 846.1 642.2 415.5 296.9 120.3
Annual rates
2002: Mar 855.2 655.3 413.8 295.4 131.7
Apr 856.9 656.7 411.8 295.6 131.0
May 847.1 642.2 413.5 294.9 121.9
June 833.7 634.6 410.8 292.8 119.1
July 837.8 635.7 414.0 295.2 116.8
Aug 829.8 627.1 409.3 292.7 113.4
Sept 832.2 626.5 412.2 296.7 110.1
Oct 840.0 636.8 418.0 299.7 111.3
Nov 850.5 643.8 427.2 304.8 112.7
Dec 856.7 650.0 440.2 314.7 108.9
2003: Jan (r) 875.3 664.3 450.0 327.0 113.8
Feb (r) 877.4 670.9 453.4 327.2 113.4
Mar (p) 868.5 669.3 454.0 328.5 113.8
Private Construction contracts (3)
Commercial
Federal Total value and industrial
Period Other and State index floor space
and local (1996=100) (millions of
square feet)
Billions of dollars
1993 68.5 116.0 82 589
1994 67.1 120.2 89 744
1995 69.7 129.9 92 862
1996 70.4 139.3 100 875
1997 77.1 150.7 109 1,027
1998 85.7 154.3 122 1,223
1999 92.7 169.5 135 1,255
2000 103.2 178.6 142 1,240
2001 105.5 192.5 … …
2002 106.4 203.9 … …
Annual rates
2002: Mar 109.8 199.9 … …
Apr 113.8 200.2 … …
May 106.8 204.9 … …
June 104.7 199.1 … …
July 104.9 202.1 … …
Aug 104.4 202.8 … …
Sept 104.2 205.7 … …
Oct 107.5 203.2 … …
Nov 103.9 206.7 … …
Dec 100.9 206.7 … …
2003: Jan (r) 100.5 211.0 … …
Feb (r) 104.1 206.5 … …
Mar (p) 101.5 199.3 … …
(1) Includes residential improvements, not shown separately.
(2) Includes hotels and motels.
(3) F.W. Dodge series.
Sources: Department of Commerce (Bureau of the Census) and The
McGraw-Hill Companies, Inc., F.W. Dodge Division.
NEW PRIVATE HOUSING AND VACANCY RATES
[Thousands of units or houses, except as noted]New private housing units
Units started, by type of structure
2-4 5 units Units
Period Total 1 unit units (1) or more authorized
1993 1,287.6 1,125.7 29.4 132.6 1,199.1
1994 1,457.0 1,198.4 35.2 223.5 1,371.6
1995 1,354.1 1,076.2 33.8 244.1 1,332.5
1996 1,476.8 1,160.9 45.3 270.8 1,425.6
1997 1,474.0 1,133.7 44.5 295.8 1,441.1
1998 1,616.9 1,271.4 42.6 302.9 1,612.3
1999 1,640.9 1,302.4 31.9 306.6 1,663.5
2000 1,568.7 1,230.9 38.7 299.1 1,592.3
2001 1,602.7 1,273.3 36.6 292.8 1,636.7
2002 1,704.9 1,358.6 38.5 307.9 1,728.6
Seasonally adjusted annual rates
2002: Mar 1,675 1,298 49 328 1,629
Apr 1,566 1,261 27 278 1,631
May 1,742 1,380 37 325 1,676
June 1,692 1,344 46 302 1,706
July 1,652 1,319 31 302 1,712
Aug 1,631 1,249 31 351 1,666
Sept 1,808 1,452 36 320 1,733
Oct 1,660 1,375 32 253 1,772
Nov 1,761 1,404 34 323 1,738
Dec 1,824 1,464 36 324 1,887
2003: Jan (r) 1,834 1,512 42 280 1,779
Feb (r) 1,644 1,313 29 302 1,811
Mar (p) 1,780 1,414 37 329 1,692
New private
housing New private houses
units
Houses Vacancy rate
Period Units Houses for sale for rental
completed sold at end of housing units
period (2) (percent) (3)
1993 1,192.7 666 293 (3) 7.3
1994 1,346.9 670 336 7.4
1995 1,312.6 667 370 7.6
1996 1,412.9 757 322 7.8
1997 1,400.5 804 281 7.7
1998 1,474.2 886 294 7.9
1999 1,604.9 880 308 8.1
2000 1,573.7 877 298 8.0
2001 1,570.8 908 308 8.4
2002 1,648.4 974 (r) 340 9.0
Seasonally adjusted annual rates
2002: Mar 1,576 915 316 9.1
Apr 1,650 932 324 …
May 1,702 974 329 …
June 1,587 947 329 (r) 8.4
July 1,614 958 331 …
Aug 1,710 1,047 331 …
Sept 1,652 1,056 332 (r) 9.0
Oct 1,579 1,001 336 …
Nov 1,720 1,022 340 …
Dec 1,666 (r) 1,076 (r) 340 (r) 9.3
2003: Jan (r) 1,629 975 344 …
Feb (r) 1,676 943 344 …
Mar (p) 1,631 1,012 339 9.4
(1) Derived; seasonally adjusted monthly data for 2-4 housing units
started are no longer published.
(2) Seasonally adjusted.
(3) Revised series beginning 1994; data for 1993 reflect the
revision. Quarterly data entered in last month of quarter.
NOTE.–Beginning 1994, units authorized are for 19,000 places.
For other data shown, units authorized are for 17,000 places.
Beginning 1999, housing starts, completions, and sales are not
directly comparable with earlier data due to new estimation methods.
Source: Department of Commerce, Bureau of the Census.
BUSINESS SALES AND INVENTORIES–Manufacturing and Trade
In February, manufacturing and trade sales fell 0.9 percent and inventories rose $7.1 billion. In March, according to preliminary data, manufacturing and trade sales rose 1.8 percent. According to current estimates, retail sales rose 2.2 percent in March. Retail and food services sales rose 2.1 percent. (Series revised.)
[GRAPHICS OMITTED][Millions of dollars, except ratios; seasonally adjusted,
except as noted]
Manufacturing and trade (1) Wholesale
Inventory-
Period Sales (2) Inventories sales Sales (2)
(3) ratio (4)
1993 (r) 565,154 864,170 1.51 150,833
1994 (r) 606,744 927,092 1.47 161,133
1995 (r) 649,753 985,420 1.49 176,227
1996 (r) 681,541 1,004,284 1.47 186,649
1997 (r) 717,586 1,044,129 1.43 194,541
1998 (r) 737,462 1,076,241 1.44 198,319
1999 (r) 780,695 1,136,025 1.41 211,797
2000 (r) 828,233 1,197,523 1.42 228,549
2001 (r) 813,309 1,132,289 1.44 225,722
2002 (r) 821,023 1,156,115 1.38 229,250
2002: Feb (r) 801,795 1,129,258 1.41 224,199
Mar (r) 805,326 1,127,018 1.40 223,530
Apr (r) 819,516 1,124,799 1.37 227,463
May (r) 817,035 1,127,436 1.38 227,105
June (r) 819,513 1,130,357 1.38 228,941
July (r) 830,802 1,136,896 1.37 230,225
Aug (r) 832,553 1,137,189 1.37 232,506
Sept (r) 826,227 1,144,210 1.38 232,312
Oct (r) 830,507 1,145,753 1.38 232,465
Nov (r) 831,696 1,149,332 1.38 235,263
Dec (r) 831,848 1,156,115 1.39 233,732
2003: Jan (r) 842,599 1,159,136 1.38 236,978
Feb (r) 835,221 1,166,211 1.40 238,193
Mar (p) 849,891 … … 240,569
Wholesale Retail
Inventory
Period Inventories sales Sales (2)
(3) ratio (4)
1993 (r) 201,939 1.31 165,533
1994 (r) 218,856 1.30 179,693
1995 (r) 235,128 1.30 189,028
1996 (r) 237,828 1.28 201,058
1997 (r) 255,427 1.27 210,027
1998 (r) 268,385 1.32 220,413
1999 (r) 285,167 1.31 239,869
2000 (r) 302,495 1.30 255,974
2001 (r) 287,556 1.32 262,776
2002 (r) 288,847 1.25 270,451
2002: Feb (r) 284,463 1.27 266,120
Mar (r) 284,642 1.27 266,203
Apr (r) 282,742 1.24 269,091
May (r) 282,492 1.24 266,194
June (r) 283,733 1.24 269,762
July (r) 285,761 1.24 274,476
Aug (r) 286,238 1.23 276,318
Sept (r) 286,946 1.24 271,307
Oct (r) 285,719 1.23 271,703
Nov (r) 286,419 1.22 273,570
Dec (r) 288,847 1.24 277,100
2003: Jan (r) 288,705 1.22 278,356
Feb (r) 289,680 1.22 274,427
Mar (p) 291,035 1.21 280,601
Retail
Retail
Inventory and food
Period Inventories sales services
(3) ratio (4) sales (2)
1993 (r) 286,026 1.68 183,537
1994 (r) 312,162 1.66 198,496
1995 (r) 329,644 1.72 208,496
1996 (r) 340,552 1.67 221,299
1997 (r) 350,901 1.64 231,530
1998 (r) 365,085 1.62 243,133
1999 (r) 394,311 1.59 263,696
2000 (r) 417,786 1.59 281,497
2001 (r) 405,571 1.58 289,300
2002 (r) 436,317 1.56 298,334
2002: Feb (r) 410,708 1.54 293,878
Mar (r) 410,942 1.54 293,889
Apr (r) 411,904 1.53 296,840
May (r) 416,352 1.56 293,889
June (r) 418,394 1.55 297,695
July (r) 423,139 1.54 302,350
Aug (r) 422,377 1.53 304,269
Sept (r) 427,879 1.58 299,214
Oct (r) 430,960 1.59 299,458
Nov (r) 434,693 1.59 301,707
Dec (r) 436,317 1.57 305,816
2003: Jan (r) 439,120 1.58 307,045
Feb (r) 443,304 1.62 303,122
Mar (p) … … 309,511
(1) See page 21 for manufacturing.
(2) Annual data are averages of monthly not seasonally adjusted
figures; monthly data are seasonally adjusted totals for month.
(3) Seasonally adjusted, end of period.
(4) Annual data are averages of seasonally adjusted monthly ratios.
Note.–Retail trade data reflect annual benchmark revisions released
April 30, 2003. Total manufacturing and trade data reflect the
revisions.
Source: Department of Commerce, Bureau of the Census.
MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS
In March, manufacturers’ shipments and new and unfilled orders rose; inventories fell.
[GRAPHICS OMITTED]
Manufacturers’
Manufacturers’ shipments (1) inventories (2)
Durable Nondurable
Period Total goods goods Total
Millions of dollars, seasonally
adjusted, except as noted
1993 248,789 130,793 117,996 376,205
1994 265,918 143,081 122,838 396,074
1995 284,499 153,094 131,405 420,648
1996 293,835 158,952 134,883 425,904
1997 313,018 172,409 140,610 437,801
1998 318,730 179,712 139,019 442,771
1999 329,029 186,933 142,096 456,547
2000 343,710 190,502 153,207 477,242
2001 324,811 175,012 149,799 439,162
2002 321,323 173,749 147,573 430,951
2002: Mar 315,593 170,376 145,217 431,434
Apr 322,962 176,426 146,536 430,153
May 323,736 175,927 147,809 428,592
June 320,810 173,205 147,605 428,230
July 326,101 178,739 147,362 427,996
Aug 323,729 175,561 148,168 428,574
Sept 322,608 174,008 148,600 429,385
Oct 326,339 176,241 150,098 429,074
Nov 322,863 173,331 149,532 428,220
Dec 321,016 169,712 151,304 430,951
2003: Jan 327,265 173,926 153,339 431,311
Feb (r) 322,601 170,675 151,926 433,227
Mar (p) 328,721 172,198 156,523 433,103
Manufacturers’ Manufacturers’
inventories (2) new orders (1)
Durable
goods
Durable Nondurable
Period goods goods Total Total
Millions of dollars, seasonally
adjusted, except as noted
1993 235,218 140,987 246,668 128,672
1994 249,272 146,802 266,641 143,803
1995 263,223 157,425 285,542 154,137
1996 267,980 157,924 297,282 162,399
1997 275,348 162,453 314,986 174,377
1998 284,484 158,287 317,345 178,327
1999 289,641 166,906 329,770 187,674
2000 304,151 173,091 347,225 194,017
2001 275,311 163,851 321,397 171,598
2002 265,242 165,709 318,860 171,287
2002: Mar 269,094 162,340 316,737 171,520
Apr 267,811 162,342 318,861 172,325
May 266,417 162,175 320,873 173,064
June 265,478 162,752 312,866 165,261
July 264,398 163,598 326,636 179,274
Aug 264,070 164,504 325,464 177,296
Sept 263,516 165,869 317,660 169,060
Oct 263,040 166,034 321,993 171,895
Nov 262,487 165,733 319,427 169,895
Dec 265,242 165,709 320,465 169,161
2003: Jan 264,821 166,490 326,043 172,704
Feb (r) 264,681 168,546 322,759 170,833
Mar (p) 264,126 168,977 329,961 173,438
Manufacturers’
new orders (1)
Durable goods
Manufac-
Capital Manufac- turers’
Period goods turers’ inventory–
industries, unfilled shipments
nondefense orders (2) ratio (3)
Millions of dollars,
seasonally adjusted,
except as noted
1993 40,681 425,314 1.51
1994 45,175 434,236 1.45
1995 51,011 446,913 1.45
1996 54,066 488,392 1.44
1997 60,697 512,718 1.38
1998 62,133 495,947 1.39
1999 64,392 505,376 1.36
2000 69,476 547,826 1.37
2001 57,886 506,412 1.42
2002 54,671 477,418 1.34
2002: Mar 53,642 503,337 1.37
Apr 54,220 499,236 1.33
May 56,174 496,373 1.32
June 50,774 488,429 1.33
July 56,933 488,964 1.31
Aug 59,214 490,699 1.32
Sept 52,901 485,751 1.33
Oct 55,213 481,405 1.31
Nov 54,558 477,969 1.33
Dec 55,842 477,418 1.34
2003: Jan 56,883 476,196 1.32
Feb (r) 54,098 476,354 1.34
Mar (p) 55,703 477,594 1.32
(1) Annual data are averages of monthly not seasonally adjusted
figures; monthly data are seasonally adjusted totals for month.
Shipments are the same as sales.
(2) Seasonally adjusted, end of period.
(3) Annual data are averages of seasonally adjusted monthly ratios.
NOTE.–Manufacturers’ nondurable new orders (not shown) are the
same as nondurable shipments. Also, there are no unfilled
nondurable orders; data shown for total unfilled orders are
durable unfilled orders.
Data exclude semiconductors.
Source: Department of Commerce, Bureau of the Census.
COPYRIGHT 2003 Superintendent Of Documents
COPYRIGHT 2003 Gale Group
