Production and business activity
PRODUCTION AND BUSINESS ACTIVITY
INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION
Industrial production rose in September; capacity utilization was
unchanged.
[Monthly data seasonally adjusted]Total industrial production (1)
Percent change (2)
From From
Index preceding year
Period 1997 = 100 month earlier
1994 85.2 … 5.4
1995 89.3 … 4.8
1996 93.1 … 4.3
1997 100.0 … 7.4
1998 105.9 … 5.9
1999 110.6 … 4.4
2000 115.4 … 4.4
2001 111.5 … -3.4
2002 110.9 … -.6
2003 111.1 … .2
2003: Sept 111.5 0.6 .1
Oct 111.8 .3 .7
Nov 112.9 1.0 1.5
Dec 113.1 .2 2.3
2004: Jan 113.8 .6 2.4
Feb 114.8 .8 2.8
Mar 114.7 -.1 3.5
Apr 115.3 .5 4.7
May 116.2 .8 5.6
June r 115.9 -.3 5.3
July r 116.7 .7 5.3
Aug r 116.5 -.1 5.1
Sept p 116.7 .1 4.6
Industry production indexes, 1997 = 100
Manufacturing
Other
Period Total (1) Durable Nondurable (non-NAICS) (1)
1994 83.6 75.4 94.6 92.8
1995 88.0 81.9 96.2 92.9
1996 92.1 89.0 96.5 92.1
1997 100.0 100.0 100.0 100.0
1998 106.8 110.7 101.5 106.5
1999 112.1 119.9 102.2 109.9
2000 117.4 129.5 102.8 112.2
2001 112.7 123.5 99.8 105.6
2002 111.8 122.9 99.2 102.0
2003 112.2 125.3 97.0 105.8
2003: Sept 112.7 127.1 96.6 104.7
Oct 112.9 127.2 96.7 105.8
Nov 114.2 128.8 97.6 106.6
Dec 114.2 129.3 97.4 105.4
2004: Jan 114.5 130.1 97.2 105.8
Feb 115.8 132.0 97.6 109.1
Mar 116.3 132.4 98.2 109.6
Apr 117.1 133.0 98.9 111.4
May 117.9 133.8 99.6 113.6
June r 117.7 133.8 99.4 112.0
July r 118.8 135.4 100.0 113.3
Aug r 119.0 135.7 99.7 115.8
Sept p 118.7 135.7 99.2 115.2
Capacity utilization rate
(output as percent
Industry production of capacity) (1)
indexes, 1997 = 100
Total Total
Period Mining Utilities industry manufacturing
1994 96.6 93.9 83.4 82.6
1995 96.4 97.2 83.6 82.7
1996 98.1 100.0 82.4 81.1
1997 100.0 100.0 83.6 82.6
1998 98.2 102.5 83.0 82.0
1999 94.0 105.5 82.4 81.4
2000 96.3 108.6 82.6 81.1
2001 96.8 108.1 77.4 75.4
2002 93.0 111.3 75.6 73.9
2003 93.1 110.9 74.8 73.4
2003: Sept 93.5 109.9 74.9 73.6
Oct 93.7 111.0 75.0 73.6
Nov 93.6 111.9 75.7 74.4
Dec 93.5 114.2 75.8 74.4
2004: Jan 93.6 118.2 76.2 74.5
Feb 93.2 117.9 76.7 75.3
Mar 92.8 113.4 76.6 75.5
Apr 93.1 112.9 76.8 75.9
May 92.7 116.0 77.4 76.3
June r 92.0 114.5 77.0 76.0
July r 93.3 112.6 77.4 76.6
Aug r 92.6 110.0 77.2 76.6
Sept p 90.4 115.9 77.2 76.3
(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.
[GRAPHICS OMITTED]
INDUSTRIAL PRODUCTION–MAJOR MARKET GROUPS AND SELECTED MANUFACTURES
[1997 = 100; monthly data seasonally adjusted]Products and nonindustrial supplies
Final products
Consumer goods
Durable Nondurable
Period Total Total goods goods
1994 86.8 91.6 85.4 94.2
1995 90.4 94.5 89.7 96.5
1996 93.9 96.5 93.5 97.8
1997 100.0 100.0 100.0 100.0
1998 105.7 103.6 107.0 102.2
1999 108.3 105.3 113.5 102.1
2000 111.6 107.5 117.5 103.7
2001 109.1 105.9 110.4 104.0
2002 107.6 106.8 115.7 103.4
2003 107.5 106.1 118.3 101.6
2003: Sept 107.8 106.1 120.8 100.9
Oct 107.7 106.0 119.8 101.0
Nov 108.9 107.1 121.3 102.1
Dec 109.1 107.3 121.2 102.3
2004: Jan 109.8 108.1 122.7 102.9
Feb 110.8 108.8 123.8 103.5
Mar 110.7 108.5 122.9 103.4
Apr 111.0 108.6 123.1 103.4
May 111.9 109.2 122.0 104.6
June r 111.4 108.3 119.8 104.1
July r 112.5 108.6 120.6 104.2
Aug r 112.4 108.9 122.3 104.1
Sept p 112.7 109.2 121.9 104.6
Products and nonindustrial supplies
Final products
Equipment
Defense
Business and space
Period Total (1) equipment equipment
1994 78.0 73.5 108.9
1995 82.8 79.4 106.0
1996 88.9 86.9 102.0
1997 100.0 100.0 100.0
1998 110.0 111.2 104.1
1999 114.2 117.1 101.4
2000 119.7 125.5 91.0
2001 115.1 117.6 102.6
2002 108.1 109.5 105.7
2003 109.6 110.4 111.9
2003: Sept 110.6 111.2 113.7
Oct 110.3 110.8 113.7
Nov 111.8 112.7 113.3
Dec 112.0 113.2 112.4
2004: Jan 112.7 114.4 111.7
Feb 114.4 116.2 113.2
Mar 114.6 116.2 114.4
Apr 115.6 117.3 115.0
May 117.2 119.1 116.3
June r 117.7 119.8 115.9
July r 121.1 123.4 118.9
Aug r 119.9 122.0 119.0
Sept p 120.3 122.3 119.7
Products and nonindustrial
supplies
Nonindustrial supplies
Materials
Construction Business
Period Total supplies supplies Total (1) Energy
1994 87.0 89.5 86.2 83.0 97.0
1995 90.3 91.4 89.9 87.9 98.5
1996 93.8 95.5 93.2 92.2 100.0
1997 100.0 100.0 100.0 100.0 100.0
1998 105.7 105.2 105.9 106.2 100.2
1999 109.9 107.9 110.7 113.1 100.2
2000 114.4 110.3 116.0 119.8 101.6
2001 109.8 105.2 111.6 114.6 100.4
2002 108.6 103.1 110.7 115.1 100.5
2003 109.0 102.0 111.7 115.7 100.4
2003: Sept 108.7 102.3 111.3 116.4 100.4
Oct 109.6 103.1 112.1 116.9 100.9
Nov 110.4 104.4 112.8 117.9 100.9
Dec 110.8 104.1 113.4 118.2 101.4
2004: Jan 111.3 104.1 114.1 118.9 102.6
Feb 112.1 104.3 115.3 119.8 102.2
Mar 112.2 105.1 115.1 119.7 100.9
Apr 113.8 106.0 116.9 120.2 101.0
May 114.9 106.9 118.1 121.2 102.1
June r 114.9 106.4 118.3 120.9 100.5
July r 115.4 107.1 118.7 121.4 100.8
Aug r 115.1 107.4 118.1 121.2 99.3
Sept p 115.5 107.1 118.9 121.1 99.5
(1) Includes other items, not shown separately.
[1997 = 100; monthly data seasonally adjusted]Durable manufactures
Primary metal
Iron and Fabricated
steel metal
Period Total products products Machinery
1994 92.6 93.3 87.0 85.5
1995 93.7 94.8 92.3 91.5
1996 95.9 97.1 95.8 94.9
1997 100.0 100.0 100.0 100.0
1998 102.3 100.3 103.0 102.6
1999 101.7 99.9 103.8 100.4
2000 98.5 99.0 107.9 105.8
2001 89.0 87.7 100.1 93.8
2002 86.5 89.5 97.4 86.8
2003 84.6 89.9 94.4 86.7
2003: Sept 83.0 88.5 94.4 87.3
Oct 84.7 91.1 94.6 86.3
Nov 86.7 93.1 95.3 89.7
Dec 88.0 99.7 95.6 89.6
2004: Jan 87.3 98.8 95.6 91.1
Feb 90.3 101.1 96.3 93.5
Mar 89.0 97.7 96.9 94.1
Apr 87.7 94.3 97.8 95.4
May 87.6 93.1 98.2 97.0
June r 89.1 94.2 98.8 96.9
July r 90.9 97.3 98.8 100.2
Aug r 89.9 97.5 98.9 97.4
Sept p 90.0 98.1 99.0 97.7
Durable manufactures
Computer and Transportation
electronic products equipment
Selected high Motor vehicles
Period Total technology (1) Total and parts
1994 44.2 33.2 89.9 89.4
1995 57.5 47.3 90.1 92.0
1996 73.8 66.7 91.7 92.7
1997 100.0 100.0 100.0 100.0
1998 129.1 140.2 108.8 105.2
1999 169.0 201.3 114.5 116.4
2000 224.0 286.7 109.5 116.2
2001 226.1 291.1 105.9 105.6
2002 234.7 311.4 108.0 114.5
2003 266.5 368.5 108.7 117.5
2003: Sept 277.1 388.1 112.1 122.7
Oct 282.9 397.4 110.4 119.9
Nov 285.3 402.8 111.0 120.5
Dec 285.3 404.7 111.6 121.3
2004: Jan 290.1 416.7 112.3 122.6
Feb 296.6 428.7 114.4 125.1
Mar 301.0 434.4 112.9 122.7
Apr 302.5 440.9 113.1 122.6
May 310.8 452.2 111.6 120.1
June r 313.4 457.9 109.8 117.6
July r 318.6 460.7 110.6 117.7
Aug r 319.7 464.1 113.1 121.7
Sept p 321.7 468.9 112.7 121.2
Nondurable manufactures
Printing
Period Apparel and support Chemical Food
1994 104.1 95.9 91.3 96.8
1995 104.1 97.3 92.7 99.3
1996 101.3 98.0 94.6 97.4
1997 100.0 100.0 100.0 100.0
1998 94.6 101.0 101.8 104.3
1999 90.7 101.9 103.8 105.2
2000 87.3 102.3 105.5 106.8
2001 77.9 96.9 103.9 106.9
2002 70.8 93.7 105.3 107.1
2003 62.3 89.3 105.5 106.2
2003: Sept 59.1 88.7 106.1 105.9
Oct 60.2 88.3 106.4 105.5
Nov 60.6 87.0 108.3 106.3
Dec 60.3 87.6 107.8 106.8
2004: Jan 60.5 88.5 107.3 106.7
Feb 61.3 87.9 108.2 107.3
Mar 61.9 88.9 109.4 107.6
Apr 62.8 88.6 110.7 107.5
May 61.5 89.8 111.1 109.1
June r 60.7 91.2 111.1 108.2
July r 58.9 90.6 111.8 108.9
Aug r 58.8 90.0 113.2 107.9
Sept p 59.2 89.3 112.0 107.9
(1) Computers and office equipment, communications equipment, and
semiconductors and related electronic components.
Source: Board of Governors of the Federal Reserve System.
NEW CONSTRUCTION
[Billions of dollars; monthly data at seasonally adjusted annual rates]Private
Total new Residential
construction
Period expenditures Total Total (1) New housing
1994 539.2 419.0 258.6 176.4
1995 557.8 427.9 247.4 171.4
1996 615.9 476.6 281.1 191.1
1997 653.4 502.7 289.0 198.1
1998 705.7 551.4 314.6 224.0
1999 766.1 596.3 350.6 251.3
2000 828.2 642.6 374.5 265.0
2001 858.3 652.5 388.3 279.4
2002 871.3 651.7 421.9 298.8
2003 915.7 690.0 476.1 345.9
2003: Sept 930.8 701.2 487.6 358.2
Oct 942.2 714.1 495.6 366.4
Nov 947.7 721.1 504.2 375.6
Dec 948.9 727.0 511.3 381.7
2004: Jan 946.5 724.0 513.9 383.5
Feb 952.2 732.1 516.4 384.9
Mar 973.9 738.7 522.2 391.1
Apr 986.4 747.5 525.9 397.8
May 992.8 756.4 535.5 407.5
June 996.4 758.9 538.5 409.8
July r 1,005.1 767.1 543.3 411.7
Aug r 1,014.0 778.4 553.0 420.5
Sept p 1,013.9 777.5 551.6 417.6
Private
Nonresidential
Commercial
Period Total Lodging Office (including farm)
1994 160.4 4.7 20.4 39.6
1995 180.5 7.1 23.0 44.1
1996 195.5 10.9 26.5 49.4
1997 213.7 12.9 32.8 53.1
1998 236.8 14.8 40.4 55.7
1999 245.8 16.0 45.1 59.4
2000 268.2 16.3 52.4 64.1
2001 264.2 14.5 49.7 63.6
2002 229.8 10.5 35.3 59.2
2003 213.9 9.9 30.4 57.7
2003: Sept 213.6 9.6 30.5 57.9
Oct 218.6 10.0 32.5 58.1
Nov 216.9 9.4 32.1 57.0
Dec 215.7 9.3 31.5 56.7
2004: Jan 210.1 8.7 29.2 56.9
Feb 215.7 10.1 32.0 56.8
Mar 216.5 11.1 32.2 56.4
Apr 221.6 11.4 33.1 58.9
May 220.9 11.2 32.4 60.0
June 220.4 11.9 33.1 61.3
July r 223.8 12.3 32.8 63.5
Aug r 225.4 12.1 32.8 64.4
Sept p 225.8 12.7 31.9 63.2
Private
Nonresidential
Federal and State
Period Manufacturing Other (2) and local
1994 28.8 66.9 120.2
1995 35.4 70.9 129.9
1996 38.1 70.6 139.3
1997 37.6 77.3 150.7
1998 40.5 85.4 154.3
1999 32.6 92.8 169.7
2000 31.8 103.6 185.5
2001 29.5 106.8 205.8
2002 16.4 108.4 219.6
2003 14.2 101.6 225.7
2003: Sept 14.8 100.8 229.5
Oct 14.9 103.0 228.0
Nov 14.4 104.0 226.6
Dec 13.6 104.6 222.0
2004: Jan 13.8 101.6 222.6
Feb 13.8 102.9 220.1
Mar 13.9 103.0 235.2
Apr 13.4 104.8 238.9
May 14.3 103.1 236.3
June 13.0 101.1 237.4
July r 14.3 100.9 238.0
Aug r 14.3 101.8 235.6
Sept p 14.8 103.2 236.4
(1) Includes residential improvements, not shown separately.
(2) Includes health care, educational, communication, and power,
among other categories not shown separately.
Source: Department of Commerce, Bureau of the Census.
NEW PRIVATE HOUSING AND VACANCY RATES
[Thousands of units or houses, except as noted]New private housing units
Units started, by type of structure
5 units
Period Total 1 unit 2-4 units (1) or more
1994 1,457.0 1,198.4 35.2 223.5
1995 1,354.1 1,076.2 33.8 244.1
1996 1,476.8 1,160.9 45.3 270.8
1997 1,474.0 1,133.7 44.5 295.8
1998 1,616.9 1,271.4 42.6 302.9
1999 1,640.9 1,302.4 31.9 306.6
2000 1,568.7 1,230.9 38.7 299.1
2001 1,602.7 1,273.3 36.6 292.8
2002 1,704.9 1,358.6 38.5 307.9
2003 1,847.7 1,499.0 33.5 315.2
Seasonally adjusted annual rates
2003: Sept 1,922 1,537 45 340
Oct 1,983 1,644 29 310
Nov 2,054 1,670 37 347
Dec 2,067 1,657 29 381
2004: Jan 1,934 1,565 30 339
Feb 1,895 1,521 30 344
Mar 2,000 1,624 33 343
Apr 1,963 1,615 36 312
May 1,979 1,654 56 269
June 1,817 1,520 25 272
July r 1,985 1,661 64 260
Aug r 2,020 1,678 69 273
Sept p 1,898 1,540 30 328
New private housing New private houses
units
Houses for
Units Units Houses sale at end
Period authorized completed sold of period (2)
1994 1,371.6 1,346.9 670 336.0
1995 1,332.5 1,312.6 667 370.0
1996 1,425.6 1,412.9 757 322.0
1997 1,441.1 1,400.5 804 281.0
1998 1,612.3 1,474.2 886 294.0
1999 1,663.5 1,604.9 880 308.0
2000 1,592.3 1,573.7 877 298.0
2001 1,636.7 1,570.8 908 308.0
2002 1,747.7 1,648.4 973 339.0
2003 1,889.2 1,678.7 1,086 370.0
Seasonally adjusted annual rates
2003: Sept 1,943 1,697 1,127 350
Oct 2,015 1,731 1,141 360
Nov 1,920 1,709 1,086 365
Dec 1,979 1,736 1,120 370
2004: Jan 1,913 1.714 1,155 374
Feb 1,913 1,729 1,165 373
Mar 1,975 1,782 1,270 379
Apr 2,006 1,944 1,176 384
May 2,097 1,928 1,244 385
June 1,945 1,865 1,198 383
July r 2,066 1,876 1,101 395
Aug r 1,969 1,909 1,165 399
Sept p 1,998 1,791 1,206 404
Vacancy rate
for rental
housing units
Period (percent)
1994 7.4
1995 7.6
1996 7.8
1997 7.7
1998 7.9
1999 8.1
2000 8.0
2001 8.4
2002 8.9
2003 9.8
2003: Sept 9.9
Oct …
Nov …
Dec 10.2
2004: Jan …
Feb …
Mar 10.4
Apr …
May …
June 10.2
July r …
Aug r …
Sept p 10.1
(1) Derived; seasonally adjusted monthly data for 2-4 housing units
started are no longer published.
(2) Seasonally adjusted.
(3) Revised series. Quarterly data entered in last month of quarter.
NOTE.–Units authorized are for 19,000 places.
BUSINESS SALES AND INVENTORIES–Manufacturing and Trade
In August, according to preliminary estimates, manufacturing and
trade sales rose 0.7 percent and inventories rose $9.3 billion.
According to advance estimates, retail sales rose 1.5 percent in
September. Retail and food services sales also rose 1.5 percent.
[Millions of dollars, except ratios; seasonally adjusted,except as noted]
Manufacturing and trade (1)
Inventory
sales
Period Sales (2) Inventories (3) ratio (4)
1994 610,669 930,681 1.47
1995 655,227 489,067 1.48
1996 687,472 1,008,623 1.46
1997 724,126 1,049,527 1.42
1998 743,702 1,081,988 1.44
1999 787,531 1,142,277 1.41
2000 835,194 1,200,666 1.41
2001 819,061 1,146,151 1.44
2002 822,013 1,163,690 1.40
2003 856,998 1,185,477 1.37
2003: Aug r 861,750 1,166,882 1.35
Sept r 866,217 1,173,444 1.35
Oct 873,519 1,177,496 1.35
Nov 879,925 1,181,735 1.34
Dec 891,329 1,185,477 1.33
2004: Jan 894,394 1,187,402 1.33
Feb 902,285 1,197,134 1.33
Mar 931,224 1,205,977 1.30
Apr 930,732 1,214,579 1.30
May 938,211 1,222,744 1.30
June 940,345 1,236,066 1.31
July r 948,939 1,248,260 1.32
Aug p r 955,282 1,257,537 1.32
Sept p … … …
Wholesale
Inventory
sales
Period Sales (2) Inventories (3) ratio (4)
1994 161,133 218,119 1.29
1995 176,227 234,268 1.30
1996 186,649 237,186 1.28
1997 194,541 254,763 1.27
1998 198,319 267,689 1.32
1999 211,631 284,396 1.30
2000 228,630 301,618 1.29
2001 225,123 287,913 1.32
2002 228,524 288,990 1.25
2003 240,442 295,435 1.21
2003: Aug r 239,756 288,848 1.20
Sept r 241,527 291,248 1.21
Oct 246,430 292,549 1.19
Nov 247,737 293,534 1.18
Dec 251,526 295,435 1.17
2004: Jan 253,664 296,016 1.17
Feb 259,109 299,712 1.16
Mar 266,509 301,311 1.13
Apr 269,017 301,989 1.12
May 269,823 306,229 1.13
June 270,235 309,744 1.15
July r 272,479 314,354 1.15
Aug p 275,812 317,211 1.15
Sept p … … …
Retail
Inventory
sales
Period Sales (2) Inventories (3) ratio (4)
1994 179,693 312,227 1.66
1995 189,028 329,582 1.72
1996 201,058 340,621 1.67
1997 210,027 350,960 1.64
1998 220,399 365,068 1.62
1999 239,910 394,235 1.59
2000 255,849 417,652 1.59
2001 263.063 406.002 1.58
2002 269,177 430,512 1.56
2003 283,295 451,458 1.56
2003: Aug r 290,318 438,402 1.51
Sept r 287,092 443,902 1.55
Oct 287,264 446,267 1.55
Nov 290,734 450,075 1.55
Dec 291,318 451,458 1.55
2004: Jan 292,253 451,357 1.54
Feb 295,019 454,614 1.54
Mar 301,790 460,087 1.52
Apr 299,146 465,891 1.56
May 303,683 466,569 1.00
June 301,306 472,012 1.57
July r 304,355 475,225 1.56
Aug p 303,933 478,351 1.57
Sept p 308,612 … …
Retail and
food services
Period sales (2)
1994 198,496
1995 208,496
1996 221,299
1997 231,530
1998 243,119
1999 263,733
2000 281,385
2001 289,667
2002 296,965
2003 313,057
2003: Aug r 320,843
Sept 316,937
Oct 318,064
Nov 321,798
Dec 322,342
2004: Jan 323,918
Feb 326,996
Mar 333,818
Apr 331,131
May 335,920
June 333,543
July r 336,944
Aug p r 336,354
Sept p 341,273
(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.
Source: Department of Commerce, Bureau of the Census.
[GRAPHICS OMITTED]
MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS
In September, manufacturers’ shipments and new orders fell;
inventories and unfilled orders rose.
Manufacturers’ shipments (1)
Durable Nondurable
Period Total goods goods
Millions of dollars, seasonally
adjusted, except as noted
1994 269,843 147,005 122,838
1995 289,973 158,568 131,405
1996 299,766 164,883 134,883
1997 319,558 178,949 140,610
1998 324,984 185,966 139,019
1999 335,991 193,895 142,096
2000 350,715 197,807 152,908
2001 330,875 181,201 149,674
2002 324,313 177,617 146,696
2003 333,260 179,220 154,041
2003: Sept 337,598 182,379 155,219
Oct 339,825 183,740 156,085
Nov 341,454 184,074 157,380
Dec 348,485 187,978 160,507
2004: Jan 348,477 186,115 162,362
Feb 348,157 188,798 159,359
Mar 362,925 197,139 165,786
Apr 362,569 195,512 167,057
May 364,705 194,389 170,316
June 368,804 196,708 172,096
July 372,105 197,698 174,407
Aug 375,537 201,398 174,139
Sept p 371,302 198,923 172,379
Manufacturers’ inventories (2)
Durable Nondurable
Period Total goods goods
Millions of dollars, seasonally
adjusted, except as noted
1994 400,335 253,444 146,891
1995 425,217 267,696 157,521
1996 430,816 272,787 158,029
1997 443,804 281,249 162,555
1998 449,231 290,874 158,357
1999 463,646 296,645 167,001
2000 481,396 306,682 174,714
2001 452,236 283,723 168,514
2002 444,188 271,789 172,399
2003 438,584 262,947 175,637
2003: Sept 438,294 261,678 176,616
Oct 438,680 262,351 176,329
Nov 438,126 261,414 176,712
Dec 438,584 262,947 175,637
2004: Jan 440,029 263,276 176,753
Feb 442,798 264,550 178,248
Mar 444,579 265,607 178,972
Apr 446,699 267,206 179,493
May 449,946 269,308 180,638
June 454,310 271,849 182,461
July 458,681 274,834 188,847
Aug 461,975 277,119 184,856
Sept p 463,262 278,186 185,076
Manufacturers’ new orders (1)
Durable goods
Capital goods
industries
Period Total Total nondefense
Millions of dollars, seasonally
adjusted, except as noted
1994 266,641 143,303 45,175
1995 285,542 154,117 51,011
1996 297,282 162,399 54,066
1997 314,986 174,377 60,697
1998 317,345 178,327 62,133
1999 329,770 187,674 64,392
2000 346,789 193,881 69,278
2001 322,944 173,270 58,336
2002 316,744 170,048 53,991
2003 329,167 175,126 57,445
2003: Sept 333,957 178,738 60,235
Oct 341,856 185,771 61,672
Nov 338,726 181,346 57,862
Dec 344,868 184,361 60,219
2004: Jan 341,868 179,506 58,564
Feb 345,778 186,419 60,967
Mar 363,146 197,360 64,726
Apr 359,124 192,067 63,908
May 360,561 190,245 62,996
June 364,818 192,722 63,934
July 370,838 196,431 69,879
Aug 369,574 195,435 65,015
Sept p 368,254 195,875 65,512
Manufacturers’
Manufacturers’ inventory–shipments
Period unfilled orders (2) ratio (3)
Millions of dollars,
seasonally adjusted,
except as noted
1994 434,594 1.44
1995 447,338 1.44
1996 488,815 1.43
1997 513,166 1.37
1998 496,471 1.39
1999 505,941 1.35
2000 550,005 1.35
2001 517,590 1.42
2002 485,816 1.37
2003 506,298 1.33
2003: Sept 492,006 1.30
Oct 500,307 1.29
Nov 503,869 1.28
Dec 506,298 1.36
2004: Jan 506,184 1.26
Feb 510,535 1.27
Mar 517,585 1.22
Apr 521,211 1.23
May 524,365 1.23
June 527,537 1.23
July 533,792 1.23
Aug 535,310 1.23
Sept p 539,342 1.25
(1) Annual data are average 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.
[GRAPHICS OMITTED]
COPYRIGHT 2004 Superintendent Of Documents
COPYRIGHT 2004 Gale Group