FOR RELEASE AT 10:00 AM EDT, WEDNESDAY, MARCH 18, 2026 MONTHLY FULL REPORT ON MANUFACTURERS’ SHIPMENTS, INVENTORIES AND ORDERS JANUARY 2026 Release Number: CB 26-38 M3-2 (26)-01 March 18, 2026 — The U.S. Census Bureau announces the January full report on manufacturers’ shipments, inventories and orders: MANUFACTURERS' NEW ORDERS 2025-2026 Seasonally Adjusted, Month-To-Month Percentage Change MANUFACTURED GOODS – NEW ORDERS 10.0% 8.3% 8.0% 6.0% JANUARY 2026 $620.1 billion +0.1%° 2.0% DECEMBER 2025 (revised) $619.1 billion 3.4% 4.0% 2.7% 1.3% 0.5% 0.2% 0.1% 0.0% -0.4%° -2.0% Next release: The U.S. Census Bureau is updating its economic indicator release calendar in coordination with other agencies and the Office of Management and Budget to address the impacts of the recent lapse in federal funding. We will provide the updated release schedule as soon as it becomes available. -4.0% Data adjusted for seasonal variation but not for price changes. Statistical significance is not measurable for this survey. The Manufacturers' Shipments, Inventories, and Orders estimates are not based on a probability sample, so the sampling error of these estimates cannot be measured, nor can the confidence intervals be computed. Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories and Orders, March 18, 2026. -10.0% -1.3% -3.9% -6.0% -1.2% -0.4% -4.8% -8.0% Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, March 18, 2026. Summary New orders for manufactured goods in January, up two of the last three months, increased $0.9 billion or 0.1 percent to $620.1 billion, the U.S. Census Bureau reported today. This followed a 0.4 percent December decrease. Shipments, up three of the last four months, increased $2.8 billion or 0.5 percent to $612.9 billion. This followed a 0.7 percent December increase. Unfilled orders, up eighteen of the last nineteen months, increased $12.1 billion or 0.8 percent to $1,540.4 billion. This followed a 0.9 percent December increase. The unfilled orders-to-shipments ratio was 7.01, unchanged from December. Inventories, up four consecutive months, increased $0.7 billion or 0.1 percent to $949.8 billion. This followed a 0.1 percent December increase. The inventories-to-shipments ratio was 1.55, down from 1.56 in December. New Orders New orders for manufactured durable goods in January, down three of the last four months, decreased less than $0.1 billion or virtually unchanged to $321.3 billion, unchanged from the previously published decrease. This followed a 0.9 percent December decrease. Transportation equipment, also down three of Data Inquiries Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) 301-763-4832 eid.m3.qs@census.gov Media Inquiries Public Information Office 301-763-3030 pio@census.gov the last four months, drove the decrease, $0.9 billion or 0.8 percent to $113.5 billion. New orders for manufactured nondurable goods increased $0.9 billion or 0.3 percent to $298.7 billion. Shipments Shipments of manufactured durable goods in January, up four of the last five months, increased $1.9 billion or 0.6 percent to $314.1 billion, unchanged from the previously published increase. This followed a 1.2 percent December increase. Transportation equipment, up three of the last four months, led the increase, $1.0 billion or 1.0 percent to $103.5 billion. Shipments of manufactured nondurable goods, up two consecutive months, increased $0.9 billion or 0.3 percent to $298.7 billion. This followed a 0.1 percent December increase. Petroleum and coal products, up following five consecutive monthly decreases, led the increase, $0.7 billion or 1.3 percent to $51.9 billion. Unfilled Orders Unfilled orders for manufactured durable goods in January, up eighteen of the last nineteen months, increased $12.1 billion or 0.8 percent to $1,540.4 billion, unchanged from the previously published increase. This followed a 0.9 percent December increase. Transportation equipment, up ten of the last eleven months, led the increase, $10.0 billion or 1.0 percent to $971.4 billion. Inventories Inventories of manufactured durable goods in January, up four consecutive months, increased $1.4 billion or 0.2 percent to $594.9 billion, unchanged from the previously published increase. This followed a 0.2 percent December increase. Transportation equipment, also up four consecutive months, led the increase, $0.6 billion or 0.3 percent to $188.3 billion. Inventories of manufactured nondurable goods, down five of the last six months, decreased $0.7 billion or 0.2 percent to $354.9 billion. This followed a 0.3 percent December decrease. Chemical products, down six consecutive months, led the decrease, $0.4 billion or 0.3 percent to $129.2 billion. By stage of fabrication, January materials and supplies increased 0.5 percent in durable goods and 0.3 percent in nondurable goods. Work in process increased 0.2 percent in durable goods and decreased 0.5 percent in nondurable goods. Finished goods decreased 0.1 percent in durable goods and 0.5 percent in nondurable goods. The U.S. Census Bureau is updating its economic indicator release calendar in coordination with other agencies and the Office of Management and Budget to address the impacts of the recent lapse in federal funding. We will provide the updated release schedule as soon as it becomes available. The full text and tables of this release can be found at . Data Inquiries Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) 301-763-4832 eid.m3.qs@census.gov Media Inquiries Public Information Office 301-763-3030 pio@census.gov EXPLANATORY NOTES Figures in text are adjusted for seasonality, but not for inflation. Figures on new and unfilled orders exclude data for semiconductor manufacturing. “Virtually unchanged” indicates that the change is less than 0.05 percent for a percent increase or decrease. The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY25-0224). 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 survey provides statistics on a calendar-month basis for manufacturers' value of shipments, new orders (net of cancellations), end-of-month order backlog (unfilled orders), end-of-month total inventory (at current cost or market value), and inventories by stage of fabrication (materials and supplies, work-inprocess, and finished goods). Data published from the M3 survey are based on a panel of approximately 4,700 reporting units that represent approximately 3,000 companies and provide an indication of monthto-month change for the Manufacturing Sector. These reporting units may be divisions of diversified large companies, large homogenous companies, or single-unit manufacturers in 92 industry categories, which are combined into 65 publication levels due to the small monthly panel size. The survey methodology assumes that the month-to-month changes of the total operations of the reporting units in the M3 panel effectively represent the month-to-month movements of all establishments that make up the category. The companies for which shipments data are currently reported or imputed in the M3 survey represent approximately 58 percent of the total value of shipments for manufacturing establishments in the 2022 Economic Census, and these companies include roughly 52 percent of the manufacturing companies with $500 million or more in shipments in the 2022 Economic Census. The companies for which shipments data are currently reported in the M3 survey represent approximately 38 percent of the total value of shipments for manufacturing establishments in the 2022 Economic Census. Statistics based on the M3 panel differ from the results that would be obtained from a complete enumeration of all manufacturing companies. The M3 panel is not based on a probability sample; therefore, the sampling errors that are normally provided with sample surveys cannot be measured. Nonsampling errors are attributable to many Data Inquiries Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) 301-763-4832 eid.m3.qs@census.gov Media Inquiries Public Information Office 301-763-3030 pio@census.gov sources. The use of company or divisional reports to estimate the monthly change for establishments is one source of nonsampling error. The use of primarily large companies to represent the month-to-month movement of all companies is another potential source. Any corrections will be published in the full report. Corrections received after the full report will be released in the next month’s advance report. Any revisions made later than two months will be reflected in the annual benchmark publication. Additional survey documentation can be found on our web site: . Special Notices: Due to schedule and resource constraints, revised historical data and the seasonal adjustment models for the Manufacturers’ Shipments, Inventories, and Orders (M3) Survey will remain unchanged for the remainder of 2026. Starting with the June 2025 data released on July 25, 2025, the Advance Total Manufacturing publication includes detailed data for all nondurable industries from the Manufacturers’ Shipments, Inventories, and Orders Survey. These estimates are available on both a seasonally and not seasonally adjusted basis and are included in the Advance Total Manufacturing Estimates file on the M3 website under the “Latest Monthly Advance report on Manufacturers’ Shipments, Inventories and Order”, Monthly Advance Report on Durable Goods Manufacturers' Shipments Inventories and Orders - Press Releases . RESOURCES API The Census Bureau’s application programming interface (API) lets developers create custom apps to reach new users and makes key demographic, socio-economic and housing statistics more accessible than ever before. . Data Inquiries Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) 301-763-4832 eid.m3.qs@census.gov Media Inquiries Public Information Office 301-763-3030 pio@census.gov FRED Mobile App Receive the latest updates on the nation’s key economic indicators by downloading the FRED App for both Apple and Android devices. FRED, the signature database of the Federal Reserve Bank of St. Louis, now incorporates the Census Bureau’s 13 economic indicators. ### Data Inquiries Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) 301-763-4832 eid.m3.qs@census.gov Media Inquiries Public Information Office 301-763-3030 pio@census.gov Table 1. Value of Manufacturers' Shipments for Industry Groups1 [Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Seasonally Adjusted Monthly Not Seasonally Adjusted Percent Change Year to date Monthly Industry p % Change Jan. 2026p Dec. 2025r Nov. 2025 Dec. Jan. Nov. Dec. Oct. Nov. Jan. 2026p Dec. 2025r Nov. 2025 Jan. 2025 2026 2025 All manufacturing industries......………… Excluding transportation……….……… Excluding defense…………...…..………. With unfilled orders…………...…..…….. 612,879 509,361 593,081 219,704 610,055 507,525 590,429 218,121 606,008 505,120 586,912 214,928 0.5 0.4 0.4 0.7 0.7 0.5 0.6 1.5 -0.2 0.1 -0.3 -0.3 565,820 475,973 548,578 199,461 607,105 500,344 585,582 222,241 580,983 484,299 560,718 202,683 557,947 474,394 543,744 188,628 565,820 475,973 548,578 199,461 557,947 474,394 543,744 188,628 Durable goods industries………….…..……. 314,141 Wood products…………..……...….…… …… Nonmetallic mineral products…….…………. Primary metals…………………….… ……….. Iron and steel mills…………..……….…. Aluminum and nonferrous metals………. Ferrous metal foundries………..…..……. Fabricated metal products…….……………. Machinery……………………………………… Farm machinery…..………….…………… Construction machinery…..………….… Mining, oil field, and gas field machinery………...………….. Industrial machinery……….……………. Photographic equipment….……………… Ventilation, heating, air-conditioning, and refrigeration equipment………… Metalworking machinery......……..……. Turbines, generators, and other power transmission equipment….… Material handling equipment…………… 2 Computers and electronic products ………. Computers…………...……………………. Computer storage devices……….……….. Other peripheral equipment……….…… Nondefense communications equipment……………………….…….. Defense communications equipment…. Audio and video equipment……...……….. Electronic components…………..……….. Nondefense search and navigation equipment……………….……...………. Defense search and navigation equipment…………..…………....……. Electromedical, measuring, and control instruments……..…...… Electrical equipment, appliances, and components………….….……………… Electric lighting equipment…..…..……….. Household appliances…………..………. Electrical equipment………….…………… Batteries………………...…….……....….. Transportation equipment………….……….. Automobiles……………………...………. Light trucks and utility vehicles………….. Heavy duty trucks ………...…………….. Motor vehicle bodies, parts, and trailers………….…….....………… Nondefense aircraft and parts…..……….. Defense aircraft and parts……...…...… Ships and boats……..………….…….….. Furniture and related products…….….……. Miscellaneous durable goods……..……… 13,596 14,720 27,861 14,700 11,190 1,971 42,145 39,890 2,621 4,253 312,260 308,454 0.6 13,559 14,585 27,740 14,649 11,111 1,980 41,899 40,038 2,470 4,316 13,548 14,445 26,993 14,689 10,377 1,927 41,530 39,550 2,392 4,359 0.3 0.9 0.4 0.3 0.7 -0.5 0.6 -0.4 6.1 -1.5 1.2 -0.3 283,053 314,412 291,778 269,994 283,053 269,994 4.8 0.1 1.0 2.8 -0.3 7.1 2.8 0.9 1.2 3.3 -1.0 -0.3 0.4 -0.2 0.4 -1.2 1.3 0.5 0.3 -10.5 -0.3 11,915 12,928 27,058 14,477 10,728 1,853 39,466 35,951 2,214 3,750 11,930 12,866 25,477 13,409 10,344 1,724 39,774 40,251 1,974 4,032 12,393 13,216 24,406 13,195 9,531 1,680 38,969 35,695 1,816 3,778 12,402 12,730 25,367 14,523 9,244 1,600 38,201 34,107 2,075 3,369 11,915 12,928 27,058 14,477 10,728 1,853 39,466 35,951 2,214 3,750 12,402 12,730 25,367 14,523 9,244 1,600 38,201 34,107 2,075 3,369 -3.9 1.6 6.7 -0.3 16.1 15.8 3.3 5.4 6.7 11.3 1,345 4,419 529 1,440 4,302 553 1,331 4,109 590 -6.6 2.7 -4.3 8.2 4.7 -6.3 6.7 -1.5 4.2 1,229 3,907 446 1,656 4,951 653 1,275 3,690 557 1,174 2,780 517 1,229 3,907 446 1,174 2,780 517 4.7 40.5 -13.7 6,103 2,751 6,051 2,760 6,219 2,787 0.9 -0.3 -2.7 -1.0 6.7 0.0 5,160 2,602 5,711 3,059 5,390 2,646 5,225 2,661 5,160 2,602 5,225 2,661 -1.2 -2.2 4,809 2,979 32,777 1,778 506 411 5,043 2,863 32,273 1,754 509 389 4,774 2,876 32,021 1,690 512 415 -4.6 4.1 1.6 1.4 -0.6 5.7 5.6 -0.5 0.8 3.8 -0.6 -6.3 -3.0 -1.9 1.0 4.2 1.4 15.9 4,653 2,746 29,592 1,589 456 377 4,929 2,983 36,137 1,846 603 462 4,638 2,656 32,424 1,675 480 417 4,324 2,888 27,980 1,280 483 293 4,653 2,746 29,592 1,589 456 377 4,324 2,888 27,980 1,280 483 293 7.6 -4.9 5.8 24.1 -5.6 28.7 4,110 234 427 5,350 3,907 221 432 5,315 3,910 218 435 5,253 5.2 5.9 -1.2 0.7 -0.1 1.4 -0.7 1.2 6.7 3.3 -0.5 0.9 3,281 191 411 4,984 5,345 214 504 5,459 3,633 235 625 5,079 2,731 172 450 4,630 3,281 191 411 4,984 2,731 172 450 4,630 20.1 11.0 -8.7 7.6 1,630 1,579 1,612 3.2 -2.0 -3.6 1,451 1,713 1,599 1,457 1,451 1,457 -0.4 3,471 3,353 3,204 3.5 4.7 -0.3 2,893 3,653 3,418 2,577 2,893 2,577 12.3 9,775 9,659 9,658 1.2 0.0 -1.3 8,500 11,434 9,491 8,463 8,500 8,463 0.4 17,918 1,561 2,249 4,884 4,768 103,518 12,553 20,657 3,202 17,858 1,497 2,288 4,962 4,677 102,530 12,037 21,004 3,370 17,692 1,488 2,275 4,788 4,783 100,888 11,392 21,148 3,472 0.3 4.3 -1.7 -1.6 1.9 1.0 4.3 -1.7 -5.0 0.9 0.6 0.6 3.6 -2.2 1.6 5.7 -0.7 -2.9 -0.4 1.2 -0.4 -3.0 0.3 -1.6 -2.2 -1.2 5.0 16,020 1,427 1,790 4,350 4,305 89,847 10,942 16,866 2,849 18,184 1,451 2,630 4,942 4,943 106,761 11,611 21,803 3,491 16,818 1,446 2,112 4,389 4,859 96,684 10,933 20,275 3,121 15,549 1,329 1,834 4,165 4,332 83,553 10,199 15,309 3,077 16,020 1,427 1,790 4,350 4,305 89,847 10,942 16,866 2,849 15,549 1,329 1,834 4,165 4,332 83,553 10,199 15,309 3,077 3.0 7.4 -2.4 4.4 -0.6 7.5 7.3 10.2 -7.4 31,810 18,198 5,506 4,590 7,636 14,080 31,893 16,970 5,539 4,479 7,691 14,087 31,399 16,130 5,423 4,603 7,734 14,053 -0.3 7.2 -0.6 2.5 -0.7 0.0 1.6 5.2 2.1 -2.7 -0.6 0.2 1.6 -11.9 0.4 1.2 2.0 0.4 30,239 14,126 4,773 3,747 7,141 13,135 28,952 22,314 5,986 4,607 7,568 15,464 29,027 15,498 5,583 4,753 7,515 13,658 28,836 12,426 4,366 3,406 7,112 12,993 30,239 14,126 4,773 3,747 7,141 13,135 28,836 12,426 4,366 3,406 7,112 12,993 4.9 13.7 9.3 10.0 0.4 1.1 Nondurable goods industries…….………….. 298,738 297,795 297,554 0.3 0.1 -0.1 282,767 292,693 289,205 287,953 282,767 287,953 -1.8 Food products……….…………..……….….. Grain and oilseed milling…….....….…….. Dairy products……………...……...……. Meat, poultry, and seafood products… Beverage and tobacco products……………. Beverages………………..….…..………… Tobacco……...……..…….……………….. Textile mills………………….………………… Textile products………..…………………… Apparel……………………..……..………….. Leather and allied products…………………. Paper products…………………….……..….. Pulp, paper, and paperboard mills....… Paperboard containers……..……………. Printing…………………...………….…….….. Petroleum and coal products……………… Petroleum refineries………...……..…… Chemical products……..……………..………… Pesticides, fertilizers, and other agricultural chemicals….…...……….... Pharmaceuticals and medicines…………. Paints, coatings, and adhesives…....… Plastics and rubber products…...………… 89,802 9,790 13,138 26,088 18,150 12,075 6,075 1,951 1,827 812 423 18,935 6,884 7,730 7,357 51,873 47,513 82,507 89,488 9,817 13,200 25,997 18,238 11,868 6,370 1,993 1,817 804 428 18,914 6,855 7,725 7,278 51,183 46,892 82,472 89,315 9,864 13,159 26,021 18,102 11,919 6,183 2,027 1,772 784 425 18,830 6,842 7,623 7,304 51,617 47,306 82,133 0.4 -0.3 -0.5 0.4 -0.5 1.7 -4.6 -2.1 0.6 1.0 -1.2 0.1 0.4 0.1 1.1 1.3 1.3 0.0 0.2 -0.5 0.3 -0.1 0.8 -0.4 3.0 -1.7 2.5 2.6 0.7 0.4 0.2 1.3 -0.4 -0.8 -0.9 0.4 -0.1 0.8 -0.6 -0.4 -0.8 -0.2 -1.8 0.2 -1.9 0.9 7.1 -0.1 -0.4 0.7 -0.3 -1.3 -1.2 0.7 87,198 9,818 12,859 24,743 17,257 11,182 6,075 1,777 1,670 749 411 18,636 6,841 7,666 7,076 46,357 42,844 77,740 88,767 9,948 13,236 25,196 17,960 11,590 6,370 1,777 1,665 876 424 18,528 6,816 7,329 7,163 47,751 44,060 83,959 90,188 9,815 13,093 26,056 17,638 11,455 6,183 1,920 1,646 837 399 17,711 6,521 7,031 7,112 49,980 45,950 78,483 86,816 9,738 13,307 24,277 16,709 11,176 5,533 1,829 1,617 714 455 18,875 6,980 7,671 7,198 53,657 49,796 76,005 87,198 9,818 12,859 24,743 17,257 11,182 6,075 1,777 1,670 749 411 18,636 6,841 7,666 7,076 46,357 42,844 77,740 86,816 9,738 13,307 24,277 16,709 11,176 5,533 1,829 1,617 714 455 18,875 6,980 7,671 7,198 53,657 49,796 76,005 0.4 0.8 -3.4 1.9 3.3 0.1 9.8 -2.8 3.3 4.9 -9.7 -1.3 -2.0 -0.1 -1.7 -13.6 -14.0 2.3 5,023 24,648 4,246 25,101 4,938 24,694 4,196 25,180 4,969 24,392 4,151 25,245 1.7 -0.2 1.2 -0.3 -0.6 1.2 1.1 -0.3 -0.2 1.7 0.1 0.4 4,743 23,078 3,774 23,896 5,190 26,453 3,721 23,823 4,945 23,943 3,666 23,291 4,313 21,504 3,807 24,078 4,743 23,078 3,774 23,896 4,313 21,504 3,807 24,078 10.0 7.3 -0.9 -0.8 p 2026/ 2025 1.4 0.3 0.9 5.7 Preliminary Revised data due to late receipts and concurrent seasonal adjustment. 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 data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 2 Estimates and percent changes of shipments for the semiconductor industry are included in computers and electronic products, and all other applicable aggregate totals. 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY250224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . r 1 Table 2. Value of Manufacturers' New Orders for Industry Groups 1 [Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Seasonally Adjusted Not Seasonally Adjusted Monthly Percent Change Year to date Monthly Industry % Change Jan. 2026 Dec. p 2025 r Nov. 2025 All manufacturing industries 2......……….…….. Excluding transportation 2……….………… 2 Excluding defense …………...…..………. With unfilled orders 2………...…..………… 620,052 506,577 600,364 231,837 619,137 504,761 597,894 232,232 621,859 501,990 603,531 235,768 Durable goods industries 2………….…..……. 321,314 321,342 Primary metals…………………….…………… Iron and steel mills…………..……….…… Aluminum and nonferrous metals………. Ferrous metal foundries………..…..……. Fabricated metal products…….…………….. Machinery……………………………………… Construction machinery…..………………. Mining, oil field, and gas field machinery………...………….. Industrial machinery……….……………… Photographic equipment….………………. Ventilation, heating, air-conditioning, and refrigeration equipment…………… Metalworking machinery......……..……… Turbines, generators, and other power transmission equipment….……. Material handling equipment……………… Computers and electronic products 2……….. Computers…………...……………………. Nondefense communications equipment……………………….…….… Defense communications equipment……. Electronic components…………..……….. Nondefense search and navigation equipment……………….……...………. Defense search and navigation equipment…………..…………....…..… Electromedical, measuring, and control instruments……..…...……. Electrical equipment, appliances, and components………….….……………… Electric lighting equipment…..…..……….. Household appliances…………..………… Electrical equipment………….…………… Transportation equipment…………………… Motor vehicle bodies, parts, and trailers………….…….....…………. Nondefense aircraft and parts …..……….. Defense aircraft and parts……...….……. Ships and boats……..………….…………. Furniture and related products…….….…….. 27,874 14,558 11,404 1,912 42,766 40,328 4,025 27,677 14,402 11,213 2,062 42,574 40,255 4,295 1,612 4,252 546 Nondurable goods industries......…………… p Dec. Jan. Nov. Dec. 0.1 0.4 0.4 -0.2 -0.4 0.6 -0.9 -1.5 324,305 0.0 27,046 14,763 10,294 1,989 42,213 40,170 4,545 0.7 1.1 1.7 -7.3 0.5 0.2 -6.3 1,504 4,244 545 1,390 4,124 574 6,481 2,755 6,304 2,743 4,968 2,934 28,310 1,798 Oct. Nov. Jan. 2026 Dec. p 2025 r Nov. 2025 Jan. 2025 2026 p 2025 2026/ 2025 2.7 0.1 3.2 7.8 577,252 477,774 560,841 216,231 622,776 498,273 596,044 242,687 593,081 478,632 575,292 220,425 557,978 474,852 545,217 193,980 577,252 477,774 560,841 216,231 557,978 474,852 545,217 193,980 3.5 0.6 2.9 11.5 -0.9 5.4 294,485 330,083 303,876 270,025 294,485 270,025 9.1 2.3 -2.4 8.9 3.7 0.9 0.2 -5.5 -0.3 -0.5 -1.0 6.0 0.5 0.7 -1.7 27,684 14,511 11,296 1,877 41,002 38,666 3,978 26,127 13,558 10,505 2,064 39,451 40,196 4,218 24,690 13,388 9,518 1,784 38,559 36,054 4,007 25,999 14,767 9,421 1,811 39,291 37,186 3,928 27,684 14,511 11,296 1,877 41,002 38,666 3,978 25,999 14,767 9,421 1,811 39,291 37,186 3,928 6.5 -1.7 19.9 3.6 4.4 4.0 1.3 7.2 0.2 0.2 8.2 2.9 -5.1 17.3 2.4 14.8 1,496 4,274 481 1,720 4,681 605 1,334 3,602 509 1,164 3,407 499 1,496 4,274 481 1,164 3,407 499 28.5 25.4 -3.6 6,695 2,674 2.8 0.4 -5.8 2.6 5.1 -5.1 5,874 2,721 6,196 2,907 5,844 2,459 5,456 2,986 5,874 2,721 5,456 2,986 7.7 -8.9 5,055 2,806 27,945 1,713 4,949 2,735 27,015 1,657 -1.7 4.6 1.3 5.0 2.1 2.6 3.4 3.4 -0.4 5.3 0.6 3.0 4,812 2,831 25,128 1,609 4,941 3,089 33,479 1,805 4,813 2,370 26,080 1,642 4,489 2,939 23,012 1,306 4,812 2,831 25,128 1,609 4,489 2,939 23,012 1,306 7.2 -3.7 9.2 23.2 4,244 236 5,270 4,043 226 5,293 3,746 221 5,288 5.0 4.4 -0.4 7.9 2.3 0.1 6.7 5.7 0.5 3,589 199 4,903 5,870 240 5,745 3,491 233 5,081 2,663 175 4,624 3,589 199 4,903 2,663 175 4,624 34.8 13.7 6.0 1,738 1,770 1,794 -1.8 -1.3 2.6 1,578 1,819 1,729 1,559 1,578 1,559 1.2 3,777 3,760 2,930 0.5 28.3 -8.7 3,229 4,424 2,579 2,687 3,229 2,687 20.2 9,778 9,684 9,892 1.0 -2.1 0.0 8,656 11,878 9,675 8,649 8,656 8,649 0.1 18,418 1,571 2,331 5,280 113,475 18,520 1,523 2,365 5,389 114,376 18,172 1,532 2,321 5,087 119,869 -0.6 3.2 -1.4 -2.0 -0.8 1.9 -0.6 1.9 5.9 -4.6 1.1 2.8 0.4 0.3 15.2 17,146 1,462 2,031 5,130 99,478 18,767 1,442 2,728 5,262 124,503 16,994 1,522 2,163 4,527 114,449 16,093 1,301 2,009 4,516 83,126 17,146 1,462 2,031 5,130 99,478 16,093 1,301 2,009 4,516 83,126 6.5 12.4 1.1 13.6 19.7 31,628 28,462 5,338 4,414 7,740 31,741 27,432 7,007 3,979 7,769 31,159 35,498 6,266 4,225 7,782 -0.4 3.8 -23.8 10.9 -0.4 1.9 -22.7 11.8 -5.8 -0.2 0.5 98.2 3.5 -3.2 1.8 30,529 24,116 5,510 3,493 7,396 29,764 34,158 9,484 4,463 7,305 29,361 34,175 5,897 4,782 7,791 29,231 12,443 4,877 2,890 7,193 30,529 24,116 5,510 3,493 7,396 29,231 12,443 4,877 2,890 7,193 4.4 93.8 13.0 20.9 2.8 298,738 297,795 297,554 0.3 0.1 -0.1 282,767 292,693 289,205 287,953 282,767 287,953 -1.8 Preliminary Revised data due to late receipts and concurrent seasonal adjustment. 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 data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 2 Data on new orders are not available for the semiconductor industry. Estimates 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRBFY25-0224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . r 1 Table 3. Value of Manufacturers' Unfilled Orders for Industry Groups 1 [Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Seasonally Adjusted Not Seasonally Adjusted Monthly Percent Change Monthly % Change Industry All manufacturing industries 2......……….…… Excluding transportation 2……….………… Excluding defense 2…………...…..……… 2 Durable goods industries ………….…..…… Primary metals…………………….…………… Iron and steel mills…………..……….……. Aluminum and nonferrous metals…………. Ferrous metal foundries………..…..…….. Fabricated metal products…….……………… Machinery………………………………………. Construction machinery…..……………….. Mining, oil field, and gas field machinery………...………….. Industrial machinery……….………………. Photographic equipment….……………….. Ventilation, heating, air-conditioning, and refrigeration equipment……………. Metalworking machinery......……..………. Turbines, generators, and other power transmission equipment….…….. Material handling equipment………………. Computers and electronic products 2…………. Computers…………...…………………….. Nondefense communications equipment……………………….…….… Defense communications equipment…….. Electronic components…………..………… Nondefense search and navigation equipment……………….……...……….. Defense search and navigation equipment…………..…………....…..…. Electromedical, measuring, and control instruments……..…...…….. Electrical equipment, appliances, and components………….….………………. Electric lighting equipment…..…..……….. Household appliances…………..…………. Electrical equipment………….……………. Transportation equipment……………………. Motor vehicle bodies, parts, and trailers………….…….....………….. Nondefense aircraft and parts…..……….. Defense aircraft and parts……...….…….. Ships and boats……..………….…………. Furniture and related products…….….…….. p Jan. 2026p Dec. r 2025 Nov. 2025 Dec. Jan. 1,540,363 569,004 1,284,159 1,528,230 566,828 1,271,916 1,514,119 564,563 1,259,422 Dec. r 2025 Nov. 2025 Jan. 2025 1.4 0.3 1.7 1,541,498 567,174 1,283,414 1,524,728 560,035 1,265,813 1,504,282 557,331 1,250,576 1,387,932 556,612 1,146,293 11.1 1.9 12.0 1,540,363 1,528,230 1,514,119 0.8 45,627 26,714 13,459 5,454 158,187 145,111 10,493 45,614 26,856 13,245 5,513 157,566 144,673 10,721 45,677 27,103 13,143 5,431 156,891 144,456 10,742 0.0 -0.5 1.6 -1.1 0.4 0.3 -2.1 0.9 1.4 1,541,498 1,524,728 1,504,282 1,387,932 11.1 -0.1 -0.9 0.8 1.5 0.4 0.2 -0.2 0.1 0.3 -0.6 1.2 0.4 0.4 1.8 45,756 26,542 13,597 5,617 155,815 145,296 10,709 45,130 26,508 13,029 5,593 154,279 142,581 10,481 44,480 26,359 12,868 5,253 154,602 142,636 10,295 44,755 25,989 13,315 5,451 151,234 143,188 9,055 2.2 2.1 2.1 3.0 3.0 1.5 18.3 4,705 10,032 2,122 4,438 10,199 2,105 4,374 10,257 2,113 6.0 -1.6 0.8 1.5 -0.6 -0.4 1.4 0.1 -0.8 4,705 10,137 2,104 4,438 9,770 2,069 4,374 10,040 2,117 4,059 11,304 2,401 15.9 -10.3 -12.4 16,333 10,124 15,955 10,120 15,702 10,137 2.4 0.0 1.6 -0.2 3.1 -1.1 16,499 9,984 15,785 9,865 15,300 10,017 14,010 10,560 17.8 -5.5 39,609 13,725 151,229 1,778 39,450 13,770 150,736 1,758 39,438 13,827 150,035 1,799 0.4 -0.3 0.3 1.1 0.0 -0.4 0.5 -2.3 0.4 -1.0 0.0 -1.8 39,609 13,763 151,961 1,778 39,450 13,678 151,087 1,758 39,438 13,572 148,970 1,799 39,674 15,230 151,952 1,943 -0.2 -9.6 0.0 -8.5 26,155 341 18,086 26,021 339 18,166 25,885 334 18,188 0.5 0.6 -0.4 0.5 1.5 -0.1 -0.6 0.9 0.2 26,534 353 18,276 26,226 345 18,357 25,701 319 18,071 26,636 355 18,450 -0.4 -0.6 -0.9 34,496 34,388 34,197 0.3 0.6 0.5 34,450 34,323 34,217 32,952 4.5 35,131 34,825 34,418 0.9 1.2 -0.8 35,023 34,687 33,916 35,507 -1.4 35,242 35,239 35,214 0.0 0.1 0.7 35,547 35,391 34,947 36,109 -1.6 54,233 3,349 6,908 28,074 971,359 53,733 3,339 6,826 27,678 961,402 53,071 3,313 6,749 27,251 949,556 0.9 0.3 1.2 1.4 1.0 1.2 0.8 1.1 1.6 1.2 0.9 1.3 0.7 1.1 2.0 54,095 3,344 7,093 27,808 974,324 52,969 3,309 6,852 27,028 964,693 52,386 3,318 6,754 26,708 946,951 51,527 3,275 6,518 26,621 831,320 5.0 2.1 8.8 4.5 17.2 40,044 701,225 77,388 62,121 13,282 40,226 690,961 77,556 62,297 13,178 40,378 680,499 76,088 62,797 13,100 -0.5 1.5 -0.2 -0.3 0.8 -0.4 1.5 1.9 -0.8 0.6 -0.6 2.9 1.1 -0.6 0.4 40,690 701,281 79,193 62,035 12,916 40,400 691,291 78,456 62,289 12,661 39,588 679,447 74,958 62,433 12,924 42,016 574,409 72,242 60,160 12,575 -3.2 22.1 9.6 3.1 2.7 0.9 0.4 1.0 Oct. Nov. January 2026/ 2025 Jan. p 2026 0.8 0.4 1.0 Nov. Dec. Preliminary Revised data due to late receipts and concurrent seasonal adjustment. 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 data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 2 Data on unfilled orders are not available for the semiconductor industry. Estimates and percent changes for unfilled 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY25-0224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . r 1 Table 4. Value of Manufacturers' Inventories for Industry Groups 1 [Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Seasonally Adjusted Not Seasonally Adjusted Monthly Percent Change Monthly % Change Industry Jan. p 2026 Dec. 2025r Nov. 2025 Dec. Jan. All manufacturing industries......……………. Excluding transportation……….………….. Excluding defense…………...…..……… With unfilled orders…………...…..……… 949,828 761,537 915,508 477,080 949,081 761,347 914,917 475,853 948,592 761,345 914,412 474,595 0.1 0.0 0.1 0.3 Durable goods industries………….…..…… 594,930 593,522 592,088 0.2 Wood products…………..……...….…………. Nonmetallic mineral products…….………….. Primary metals…………………….……………. Iron and steel mills…………..……….……. Aluminum and nonferrous metals………… Ferrous metal foundries………..…..…….. Fabricated metal products…….……………… Machinery………………………………………. Farm machinery…..………….……………. Construction machinery…..………….……. Mining, oil field, and gas field machinery………...…….. Industrial machinery……….………………. Photographic equipment….………………. Ventilation, heating, air-conditioning, and refrigeration equipment…………… Metalworking machinery......……..………. Turbines, generators, and other power transmission equipment….…….. Material handling equipment……………… Computers and electronic products2………… Computers…………...…………………….. Computer storage devices……….………. Other peripheral equipment……….……… Nondefense communications equipment……………………….………. Defense communications equipment…….. Audio and video equipment……...……….. Electronic components…………..………… Nondefense search and navigation equipment……………….……...………. Defense search and navigation equipment…………..…………....…..…. Electromedical, measuring and control instruments……..…......….. Electrical equipment, appliances, and components………….….………………. Electric lighting equipment…..…..……….. Household appliances…………..…………. Electrical equipment………….……………. Batteries………………...…….……....…… Transportation equipment………….………… Automobiles……………………...………… Light trucks and utility vehicles………….. Heavy duty trucks ………...………………. Motor vehicle bodies, parts, and trailers………….…….....……….…. Nondefense aircraft and parts…..……….. Defense aircraft and parts……...…...…… Ships and boats……..………….…….…… Furniture and related products…….….……… Miscellaneous durable goods……..…………. 18,077 20,582 49,064 26,278 19,454 3,332 74,492 104,440 5,648 10,482 18,032 20,508 48,860 26,261 19,316 3,283 74,397 103,987 5,698 10,247 18,167 20,481 48,730 26,188 19,225 3,317 74,223 103,587 5,700 10,021 0.2 0.4 0.4 0.1 0.7 1.5 0.1 0.4 -0.9 2.3 5,444 11,509 1,509 5,428 11,512 1,504 5,399 11,472 1,504 0.3 0.0 0.3 10,866 8,046 10,815 8,048 10,785 8,051 13,115 9,753 67,496 2,742 1,050 639 12,897 9,790 67,523 2,701 1,059 634 5,856 867 736 12,979 5,362 Nov. Dec. 0.1 0.0 0.1 0.3 Oct. Nov. Jan. 2026p Dec. 2025r Nov. 2025 Jan. 2025 January 2026/ 2025 0.2 0.1 0.1 0.2 946,887 759,342 912,885 475,443 927,843 745,926 894,196 466,729 946,124 759,134 911,915 472,916 939,532 752,109 907,603 466,675 0.8 1.0 0.6 1.9 0.2 0.2 593,727 580,537 590,541 583,795 1.7 -0.7 0.1 0.3 0.3 0.5 -1.0 0.2 0.4 0.0 2.3 -0.5 0.8 0.3 -0.1 0.7 1.2 -0.1 0.3 0.4 0.5 18,365 20,702 49,210 26,625 19,229 3,356 74,428 103,771 5,847 10,489 17,926 20,215 48,289 26,014 19,039 3,236 73,155 101,829 5,850 10,019 18,138 20,091 48,235 25,901 19,036 3,298 73,333 103,859 5,708 10,073 18,560 20,188 46,735 26,257 17,186 3,292 73,191 100,797 6,031 10,018 -1.1 2.5 5.3 1.4 11.9 1.9 1.7 3.0 -3.1 4.7 0.5 0.3 0.0 0.9 0.5 -0.4 5,434 11,046 1,517 5,235 11,988 1,451 5,452 11,673 1,528 5,276 10,427 1,527 3.0 5.9 -0.7 0.5 0.0 0.3 0.0 -0.3 0.7 10,767 8,036 10,136 7,909 10,656 8,015 10,024 7,656 7.4 5.0 12,914 9,651 67,512 2,694 1,043 650 1.7 -0.4 0.0 1.5 -0.8 0.8 -0.1 1.4 0.0 0.3 1.5 -2.5 0.3 0.5 0.2 0.3 -1.3 -2.4 13,035 9,565 67,510 2,597 1,039 635 12,111 9,419 66,452 2,584 1,031 627 12,840 9,783 68,118 2,679 1,090 656 12,497 9,443 66,678 2,439 1,051 691 4.3 1.3 1.2 6.5 -1.1 -8.1 5,894 858 746 13,021 5,918 855 759 13,135 -0.6 1.0 -1.3 -0.3 -0.4 0.4 -1.7 -0.9 0.1 -0.6 0.3 0.3 5,683 867 712 13,369 5,569 858 692 13,018 6,099 855 787 13,206 5,737 878 753 13,300 -0.9 -1.3 -5.4 0.5 5,338 5,289 0.4 0.9 0.3 5,369 5,237 5,287 5,105 5.2 4,121 4,144 4,146 -0.6 0.0 0.7 4,138 4,062 4,115 4,066 1.8 23,725 23,722 23,582 0.0 0.6 0.3 23,374 23,333 23,775 23,013 1.6 29,408 2,983 3,917 10,167 3,982 188,291 9,216 10,959 3,347 29,393 2,950 3,953 10,100 3,976 187,734 8,953 11,098 3,362 29,327 2,916 3,968 10,171 3,952 187,247 8,794 11,088 3,410 0.1 1.1 -0.9 0.7 0.2 0.3 2.9 -1.3 -0.4 0.2 1.2 -0.4 -0.7 0.6 0.3 1.8 0.1 -1.4 0.2 0.1 2.6 -0.9 0.4 0.4 0.1 0.6 0.2 29,283 3,055 3,860 10,236 3,765 187,545 9,112 10,962 3,358 28,439 2,891 3,629 10,007 3,706 181,917 7,966 9,513 3,104 28,857 2,925 3,849 10,153 3,726 186,990 8,783 11,235 3,505 28,210 2,918 3,562 9,974 3,573 187,423 8,801 11,122 3,417 3.8 4.7 8.4 2.6 5.4 0.1 3.5 -1.4 -1.7 44,080 82,572 15,307 7,663 10,796 32,284 44,012 82,524 15,248 7,575 10,832 32,256 43,944 82,178 15,474 7,402 10,809 32,005 0.2 0.1 0.4 1.2 -0.3 0.1 0.2 0.4 -1.5 2.3 0.2 0.8 0.3 0.4 0.8 2.4 -0.9 0.1 44,698 81,726 15,260 7,388 10,854 32,059 43,351 81,152 15,109 7,212 10,592 31,723 43,515 82,049 15,481 7,459 10,663 32,257 43,474 84,752 14,975 6,867 10,919 31,094 2.8 -3.6 1.9 7.6 -0.6 3.1 Nondurable goods industries…….…………… 354,898 355,559 356,504 -0.2 -0.3 0.1 353,160 347,306 355,583 355,737 -0.7 Food products……….…………..……….…… Grain and oilseed milling…….....….……… Dairy products……………...……...……… Meat, poultry, and seafood products……. Beverage and tobacco products……………. Beverages………………..….…..………… Tobacco……...……..…….……………….. Textile mills………………….…………………. Textile products………..……………………… Apparel……………………..……..…………… Leather and allied products………………….. Paper products…………………….……..…… Pulp, paper, and paperboard mills....……. Paperboard containers……..…………….. Printing…………………...………….…….…… Petroleum and coal products………………… Petroleum refineries………...……..……… Chemical products……..……………..………… Pesticides, fertilizers, and other agricultural chemicals….…...……….…. Pharmaceuticals and medicines………….. Paints, coatings, and adhesives…....……. Plastics and rubber products…...…………… 73,270 7,453 11,562 13,161 34,514 30,642 3,872 3,424 3,749 1,983 1,175 20,992 6,412 8,054 7,522 43,852 36,557 129,218 73,516 7,523 11,602 13,154 34,342 30,490 3,852 3,435 3,747 1,989 1,155 21,061 6,418 8,103 7,536 44,045 36,806 129,571 73,700 7,598 11,610 13,171 34,407 30,632 3,775 3,432 3,743 1,980 1,144 21,152 6,421 8,156 7,563 44,107 36,823 129,945 -0.3 -0.9 -0.3 0.1 0.5 0.5 0.5 -0.3 0.1 -0.3 1.7 -0.3 -0.1 -0.6 -0.2 -0.4 -0.7 -0.3 -0.2 -1.0 -0.1 -0.1 -0.2 -0.5 2.0 0.1 0.1 0.5 1.0 -0.4 0.0 -0.6 -0.4 -0.1 0.0 -0.3 0.0 -0.8 0.7 0.2 0.1 -0.2 2.4 -0.3 0.5 0.5 2.4 -0.3 -0.1 -0.6 0.3 0.4 0.1 0.0 73,364 7,618 11,260 12,978 34,517 30,459 4,058 3,434 3,799 1,960 1,204 21,053 6,447 8,138 7,455 42,289 34,983 128,988 73,101 7,651 11,004 12,876 33,536 29,543 3,993 3,418 3,735 1,876 1,148 20,845 6,412 8,075 7,338 41,122 34,112 126,842 75,005 7,804 11,050 13,299 34,663 30,738 3,925 3,392 3,755 1,956 1,150 20,962 6,347 8,083 7,559 43,061 36,016 128,981 74,640 7,611 11,479 12,995 33,285 29,626 3,659 3,379 3,663 1,981 1,061 20,855 6,427 8,060 7,489 44,703 37,654 129,305 -1.7 0.1 -1.9 -0.1 3.7 2.8 10.9 1.6 3.7 -1.1 13.5 0.9 0.3 1.0 -0.5 -5.4 -7.1 -0.2 6,921 58,134 6,056 35,199 6,971 58,437 6,080 35,162 6,999 59,014 6,072 35,331 -0.7 -0.5 -0.4 0.1 -0.4 -1.0 0.1 -0.5 -0.4 0.2 0.5 0.1 7,170 58,010 6,054 35,097 6,890 57,114 5,889 34,345 6,971 58,542 5,915 35,099 7,035 58,008 6,022 35,376 1.9 0.0 0.5 -0.8 p Preliminary r Revised data due to late receipts and concurrent seasonal adjustment. 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 data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 2 Estimates of inventories for the semiconductor industry data are included in computers and electronic products, and all other applicable aggregate totals. 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY25-0224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . Table 5. Value of Manufacturers' Shipments, New Orders, Unfilled Orders, and Total Inventories for Topical Series1, 2 [Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Seasonally Adjusted Monthly Not Seasonally Adjusted Percent Change Monthly Year to date % Change6 Industry 2026 Jan. 2025r Dec. Nov. 2025 Nov. Dec. Oct. Nov. All manufacturing industries…………..……….. 612,879 610,055 606,008 Construction materials and supplies……. Information technology………….………… Computers and related products……….. Motor vehicle and parts……………………. 68,286 27,452 2,695 68,222 67,881 26,916 2,652 68,304 67,978 26,727 2,617 67,411 0.5 0.7 0.6 2.0 1.6 -0.1 -0.1 0.7 1.3 1.3 Capital goods……….……………...…..….. Nondefense capital goods3……………… Excluding aircraft…….…………………. Defense capital goods 4……….…….……. 108,218 91,251 78,663 16,967 106,947 90,129 78,767 16,818 104,835 88,453 78,015 16,382 1.2 1.2 -0.1 0.9 Consumer goods………………..………….. Consumer durable goods……...………… Consumer nondurable goods……………. 245,350 48,925 196,425 244,356 48,772 195,584 243,597 48,303 195,294 0.4 0.3 0.4 All manufacturing industries5…………..…….. Construction materials and supplies……. Information technology………….………… Computers and related products……….. Motor vehicle and parts……………………. 620,052 619,137 621,859 0.1 69,487 28,054 2,715 68,040 69,260 27,763 2,611 68,152 69,726 26,750 2,584 67,171 0.3 1.0 4.0 -0.2 Capital goods……….……………...…..….. Nondefense capital goods3……………… Excluding aircraft…….…………………. Defense capital goods 4……….…….……. 118,821 102,258 79,324 16,563 120,070 101,296 79,262 18,774 124,044 108,609 78,621 15,435 -1.0 0.9 0.1 -11.8 Consumer goods………………..………….. Consumer durable goods……...………… Consumer nondurable goods………….. 245,517 49,092 196,425 244,469 48,885 195,584 243,680 48,386 195,294 0.4 0.4 0.4 All manufacturing industries5…………..…….. 1,540,363 1,528,230 1,514,119 0.8 Construction materials and supplies……. Information technology………….………… Computers and related products……….. Motor vehicle and parts……………………. 120,811 151,167 1,778 40,044 119,610 150,565 1,758 40,226 118,231 149,718 1,799 40,378 1.0 0.4 1.1 -0.5 Capital goods……….……………...…..….. Nondefense capital goods3……………… Excluding aircraft…….…………………. Defense capital goods 4……….…….……. 1,136,202 924,186 303,050 212,016 1,125,599 913,179 302,389 212,420 1,112,476 902,012 301,894 210,464 0.9 1.2 0.2 -0.2 Consumer goods………………..………….. Consumer durable goods……...………… 14,762 14,762 14,595 14,595 14,482 14,482 All manufacturing industries…………..……… 949,828 949,081 Construction materials and supplies……. Information technology………….………… Computers and related products……….. Motor vehicle and parts……………………. 108,087 55,192 4,431 67,602 107,917 55,240 4,394 67,425 Capital goods……….……………...…..….. Nondefense capital goods3……………… Excluding aircraft…….…………………. Defense capital goods 4……….…….……. 277,595 249,772 186,038 27,823 Consumer goods………………..………….. Consumer durable goods……...………… Consumer nondurable goods……………. 273,947 48,427 225,520 p Dec. Jan. Jan. Dec. 2026p 2025r Nov. 2025 Jan. 2025 -0.2 565,820 607,105 580,983 557,947 565,820 557,947 1.4 0.4 1.0 5.3 0.2 60,915 23,864 2,422 60,896 61,257 30,774 2,911 65,857 62,414 26,270 2,572 63,356 61,864 22,435 2,056 57,421 60,915 23,864 2,422 60,896 61,864 22,435 2,056 57,421 -1.5 6.4 17.8 6.1 2.0 1.9 1.0 2.7 -1.3 -2.1 0.3 3.7 94,051 79,458 70,867 14,593 119,142 100,607 84,071 18,535 100,529 82,881 72,936 17,648 86,927 75,285 67,992 11,642 94,051 79,458 70,867 14,593 86,927 75,285 67,992 11,642 8.2 5.5 4.2 25.3 0.3 1.0 0.1 -0.4 -1.0 -0.2 228,135 41,952 186,183 242,870 49,456 193,414 239,731 46,631 193,100 230,386 39,640 190,746 228,135 41,952 186,183 230,386 39,640 190,746 -1.0 5.8 -2.4 -0.4 2.7 577,252 622,776 593,081 557,978 577,252 557,978 3.5 -0.7 3.8 1.0 1.5 1.4 1.2 4.5 -0.3 63,203 24,924 2,442 61,186 62,303 32,731 2,870 66,669 63,266 25,431 2,539 63,690 62,932 22,822 2,082 57,816 63,203 24,924 2,442 61,186 62,932 22,822 2,082 57,816 0.4 9.2 17.3 5.8 -3.2 -6.7 0.8 21.6 15.4 20.4 0.9 -10.7 105,995 92,781 74,280 13,214 135,757 112,909 84,628 22,848 116,734 101,611 72,967 15,123 89,199 79,368 72,154 9,831 105,995 92,781 74,280 13,214 89,199 79,368 72,154 9,831 18.8 16.9 2.9 34.4 0.3 1.0 0.1 -0.4 -1.0 -0.2 228,640 42,457 186,183 242,761 49,347 193,414 239,980 46,880 193,100 230,673 39,927 190,746 228,640 42,457 186,183 230,673 39,927 190,746 -0.9 6.3 -2.4 0.9 1.4 1,541,498 1,524,728 1,504,282 1,387,932 (X) (X) 11.1 1.2 0.6 -2.3 -0.4 1.5 0.0 -1.8 -0.6 119,051 151,639 1,778 40,690 116,763 150,579 1,758 40,400 115,717 148,622 1,799 39,588 112,274 151,016 1,943 42,016 (X) (X) (X) (X) (X) (X) (X) (X) 6.0 0.4 -8.5 -3.2 1.2 1.2 0.2 0.9 1.8 2.3 0.2 -0.4 1,137,511 923,917 303,027 213,594 1,125,567 910,594 299,614 214,973 1,108,952 898,292 299,057 210,660 997,586 794,143 300,630 203,443 (X) (X) (X) (X) (X) (X) (X) (X) 14.0 16.3 0.8 5.0 1.1 1.1 0.8 0.8 0.6 0.6 14,911 14,911 14,406 14,406 14,515 14,515 14,392 14,392 (X) (X) (X) (X) 3.6 3.6 948,592 0.1 0.1 0.2 946,887 927,843 946,124 939,532 (X) (X) 0.8 107,925 54,985 4,387 67,236 0.2 -0.1 0.8 0.3 0.0 0.5 0.2 0.3 0.1 0.2 -0.5 0.3 108,518 54,548 4,271 68,130 105,875 53,890 4,242 63,934 106,428 55,319 4,425 67,038 107,063 53,686 4,181 66,814 (X) (X) (X) (X) (X) (X) (X) (X) 1.4 1.6 2.2 2.0 277,139 249,470 185,539 27,669 276,284 248,546 184,757 27,738 0.2 0.1 0.3 0.6 0.3 0.4 0.4 -0.2 0.4 0.2 0.2 2.4 274,885 247,333 184,562 27,552 271,149 243,858 181,688 27,291 277,052 249,292 185,568 27,760 272,573 246,958 180,145 25,615 (X) (X) (X) (X) (X) (X) (X) (X) 0.8 0.2 2.5 7.6 274,445 48,333 226,112 275,214 48,176 227,038 -0.2 0.2 -0.3 -0.3 0.3 -0.4 0.2 0.3 0.2 272,302 48,335 223,967 265,544 45,014 220,530 275,546 48,322 227,224 274,073 47,854 226,219 (X) (X) (X) (X) (X) (X) -0.6 1.0 -1.0 2026p 2026/ 2025 2025 SHIPMENTS NEW ORDERS UNFILLED ORDERS TOTAL INVENTORIES X Not Applicable p Preliminary r Revised data due to late receipts and concurrent seasonal adjustment. 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 data for noncalendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 2 Topical series are regroupings of 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 machinery; 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; communications equipment; search and navigation equipment; electromedical, measuring, and control instruments; electrical equipment; other electrical equipment, appliances, and components; heavy duty trucks; aircraft; railroad rolling stock; ships and boats; office and institutional furniture; and medical equipment and supplies. 4 Defense capital goods industries include: small arms and ordnance; communications equipment; aircraft; missiles, space vehicles, and parts; ships and boats; and search and navigation equipment. 5 Estimates and percent changes exclude semiconductor industry data. 6 Based on year-to-date for shipments and new orders, but on same month prior year for unfilled orders and inventories. 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY25-0224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . Table 6. Value of Manufacturers' Inventories, by Stage of Fabrication, by Industry Group1 [Estimates are shown in millions of dollars and are based on data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Seasonally Adjusted Not Seasonally Adjusted Monthly Percent Change Monthly % Change Industry Jan. 2026p Dec. 2025r Nov. 2025 Dec. Jan. Nov. Dec. Oct. Nov. Jan. 2026p Dec. 2025r Nov. 2025 Jan. 2025 January 2026/ 2025 MATERIALS AND SUPPLIES All manufacturing industries..........……..….. 355,349 353,934 354,319 0.4 -0.1 0.1 356,200 349,783 352,789 349,914 1.8 Durable goods industries.....................….. Wood products…………..………………… Nonmetallic mineral products…………….. Primary metals……………….…..………… Fabricated metal products…………………….. Machinery…………………………………… Computers and electronic products…….. Electrical equipment, appliances, and components…………………………. Transportation equipment………………… Furniture and related products…………… Miscellaneous products………...…………. 225,455 7,773 8,284 20,761 29,035 47,194 31,798 224,437 7,784 8,206 20,680 29,003 46,539 31,917 224,161 7,836 8,131 20,808 29,061 46,257 31,786 0.5 -0.1 1.0 0.4 0.1 1.4 -0.4 0.1 -0.7 0.9 -0.6 -0.2 0.6 0.4 0.3 -0.9 0.1 0.0 0.2 0.4 0.6 226,090 7,925 8,294 20,784 29,004 47,023 31,836 222,001 7,874 8,152 20,527 28,776 45,469 31,623 223,187 7,926 8,063 20,737 28,725 46,096 31,892 220,073 8,100 8,165 19,894 28,440 45,442 31,527 2.7 -2.2 1.6 4.5 2.0 3.5 1.0 13,613 50,097 5,560 11,340 13,689 49,549 5,724 11,346 13,644 49,609 5,752 11,277 -0.6 1.1 -2.9 -0.1 0.3 -0.1 -0.5 0.6 0.1 0.3 -0.5 0.8 13,678 50,563 5,677 11,306 13,404 49,276 5,579 11,321 13,444 49,406 5,582 11,316 13,451 48,066 5,830 11,158 1.7 5.2 -2.6 1.3 Nondurable goods industries..............…….. Food products...…...........………..…….. Beverage and tobacco products.....................… Textiles.............….....…...…….......…… Textile products……..………..……………. Apparel……………….…………………….. Leather and allied products…….…………. Paper products..…………..….….....…….. Printing ………….………………...……….. Petroleum and coal products…………….. Chemical products…………………..……… Plastics and rubber products……..….…… 129,894 30,241 7,067 1,472 1,657 719 346 10,780 4,237 13,297 44,896 15,182 129,497 30,415 6,954 1,464 1,655 711 345 10,821 4,228 13,054 44,713 15,137 130,158 30,434 7,006 1,473 1,656 711 329 10,846 4,259 13,520 44,732 15,192 0.3 -0.6 1.6 0.5 0.1 1.1 0.3 -0.4 0.2 1.9 0.4 0.3 -0.5 -0.1 -0.7 -0.6 -0.1 0.0 4.9 -0.2 -0.7 -3.4 0.0 -0.4 -0.2 -0.6 -0.9 -1.0 0.6 -0.1 -2.4 -0.3 0.3 0.8 -0.2 -0.1 130,110 30,525 7,305 1,475 1,669 709 352 10,859 4,209 12,930 44,832 15,245 127,782 30,429 7,027 1,473 1,652 675 347 10,794 4,158 12,104 44,202 14,921 129,602 30,801 7,129 1,463 1,658 703 323 10,759 4,240 13,204 44,342 14,980 129,841 30,486 7,156 1,456 1,623 686 333 10,714 4,279 13,494 44,391 15,223 0.2 0.1 2.1 1.3 2.8 3.4 5.7 1.4 -1.6 -4.2 1.0 0.1 All manufacturing industries..........……..….. 265,659 265,490 262,399 0.1 1.2 0.8 264,018 259,930 261,894 259,575 1.7 Durable goods industries.....................….. Wood products…………..………………… Nonmetallic mineral products…………….. Primary metals……………….…..………… Fabricated metal products…………………….. Machinery…………………………………… Computers and electronic products…….. Electrical equipment, appliances, and components…………………………. Transportation equipment………………… Furniture and related products…………… Miscellaneous products………...…………. 200,593 2,634 2,442 14,777 18,790 26,017 18,242 200,095 2,690 2,446 14,592 18,698 26,252 18,270 199,147 2,747 2,511 14,405 18,543 26,104 18,383 0.2 -2.1 -0.2 1.3 0.5 -0.9 -0.2 0.5 -2.1 -2.6 1.3 0.8 0.6 -0.6 1.0 5.0 0.4 0.9 0.4 0.2 0.1 199,494 2,686 2,481 14,745 18,779 25,612 18,445 195,858 2,677 2,368 14,235 18,244 25,696 17,930 198,500 2,739 2,425 14,228 18,406 26,305 18,517 198,014 2,881 2,410 13,622 18,572 25,076 18,555 0.7 -6.8 2.9 8.2 1.1 2.1 -0.6 6,097 104,842 1,431 5,321 5,965 104,550 1,384 5,248 6,036 103,649 1,389 5,380 2.2 0.3 3.4 1.4 -1.2 0.9 -0.4 -2.5 0.8 1.5 -1.3 0.2 5,970 104,090 1,408 5,278 5,729 102,574 1,366 5,039 5,933 103,146 1,408 5,393 5,290 104,973 1,445 5,190 12.9 -0.8 -2.6 1.7 Nondurable goods industries..............…….. Food products...…...........………..…….. Beverage and tobacco products.....................… Textiles.............….....…...…….......…… Textile products……..………..……………. Apparel……………….…………………….. Leather and allied products…….…………. Paper products..…………..….….....…….. Printing ………….………………...……….. Petroleum and coal products…………….. Chemical products…………………..……… Plastics and rubber products……..….…… 65,066 4,936 13,405 553 516 264 120 2,148 1,312 12,033 25,294 4,485 65,395 4,929 13,307 555 518 260 120 2,160 1,314 12,458 25,366 4,408 63,252 4,936 13,309 545 511 257 130 2,168 1,343 12,118 23,503 4,432 -0.5 0.1 0.7 -0.4 -0.4 1.5 0.0 -0.6 -0.2 -3.4 -0.3 1.7 3.4 -0.1 0.0 1.8 1.4 1.2 -7.7 -0.4 -2.2 2.8 7.9 -0.5 0.2 -0.6 0.0 0.0 -0.4 0.4 4.8 0.7 2.2 2.0 -0.6 0.0 64,524 5,188 13,452 553 526 259 121 2,130 1,301 11,466 25,038 4,490 64,072 5,190 13,186 539 508 242 118 2,109 1,251 11,768 24,870 4,291 63,394 5,439 13,386 538 510 256 129 2,135 1,374 11,761 23,418 4,448 61,561 5,511 12,886 555 511 248 118 2,126 1,295 11,118 22,709 4,484 4.8 -5.9 4.4 -0.4 2.9 4.4 2.5 0.2 0.5 3.1 10.3 0.1 All manufacturing industries..........……..….. 328,820 329,657 331,874 -0.3 -0.7 -0.2 326,669 318,130 331,441 330,043 -1.0 Durable goods industries.....................….. Wood products…………..………………… Nonmetallic mineral products…………….. Primary metals……………….…..………… Fabricated metal products…………………….. Machinery…………………………………… Computers and electronic products…….. Electrical equipment, appliances, and components…………………………. Transportation equipment………………… Furniture and related products…………… Miscellaneous products………...…………. 168,882 7,670 9,856 13,526 26,667 31,229 17,456 168,990 7,558 9,856 13,588 26,696 31,196 17,336 168,780 7,584 9,839 13,517 26,619 31,226 17,343 -0.1 1.5 0.0 -0.5 -0.1 0.1 0.7 0.1 -0.3 0.2 0.5 0.3 -0.1 0.0 -0.7 -2.0 1.5 0.1 -0.9 0.1 -0.2 168,143 7,754 9,927 13,681 26,645 31,136 17,229 162,678 7,375 9,695 13,527 26,135 30,664 16,899 168,854 7,473 9,603 13,270 26,202 31,458 17,709 165,708 7,579 9,613 13,219 26,179 30,279 16,596 1.5 2.3 3.3 3.5 1.8 2.8 3.8 9,698 33,352 3,805 15,623 9,739 33,635 3,724 15,662 9,647 33,989 3,668 15,348 -0.4 -0.8 2.2 -0.2 1.0 -1.0 1.5 2.0 0.0 -2.3 -1.3 -0.3 9,635 32,892 3,769 15,475 9,306 30,067 3,647 15,363 9,480 34,438 3,673 15,548 9,469 34,384 3,644 14,746 1.8 -4.3 3.4 4.9 Nondurable goods industries..............…….. Food products...…...........………..…….. Beverage and tobacco products.....................… Textiles.............….....…...…….......…… Textile products……..………..……………. Apparel……………….…………………….. Leather and allied products…….…………. Paper products..…………..….….....…….. Printing ………….………………...……….. Petroleum and coal products…………….. Chemical products…………………..……… Plastics and rubber products……..….…… 159,938 38,093 14,042 1,399 1,576 1,000 709 8,064 1,973 18,522 59,028 15,532 160,667 38,172 14,081 1,416 1,574 1,018 690 8,080 1,994 18,533 59,492 15,617 163,094 38,330 14,092 1,414 1,576 1,012 685 8,138 1,961 18,469 61,710 15,707 -0.5 -0.2 -0.3 -1.2 0.1 -1.8 2.8 -0.2 -1.1 -0.1 -0.8 -0.5 -1.5 -0.4 -0.1 0.1 -0.1 0.6 0.7 -0.7 1.7 0.3 -3.6 -0.6 0.2 0.6 0.6 0.2 0.8 0.9 4.4 -0.5 -0.9 -0.9 0.3 0.4 158,526 37,651 13,760 1,406 1,604 992 731 8,064 1,945 17,893 59,118 15,362 155,452 37,482 13,323 1,406 1,575 959 683 7,942 1,929 17,250 57,770 15,133 162,587 38,765 14,148 1,391 1,587 997 698 8,068 1,945 18,096 61,221 15,671 164,335 38,643 13,243 1,368 1,529 1,047 610 8,015 1,915 20,091 62,205 15,669 -3.5 -2.6 3.9 2.8 4.9 -5.3 19.8 0.6 1.6 -10.9 -5.0 -2.0 WORK IN PROCESS FINISHED GOODS p Preliminary r Revised data due to late receipts and concurrent seasonal adjustment. 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 data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY25-0224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . Table 7. Ratios of Manufacturers' Inventories to Shipments and Unfilled Orders to Shipments, by Industry Group 1 [Based on Seasonally Adjusted data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Unfilled Orders/Shipments ratio2 Inventory/Shipments ratio Industry Jan Dec p r 2025 2026 3 Nov Oct Jan Dec 2025 2025 2026p 2025 r Nov Oct 2025 2025 All manufacturing industries .…………………………….. 1.55 1.56 1.57 1.56 (X) (X) (X) (X) Durable goods industries 3.....…........…………………… Wood products………………..………………………………… Nonmetallic mineral products……………………….. Primary metals……………….………………………………….. Fabricated metal products……………………………….. Machinery……………….…..……….…………………………….. 1.89 1.33 1.40 1.76 1.77 2.62 2.06 1.90 1.33 1.41 1.76 1.78 2.60 2.09 1.92 1.34 1.42 1.81 1.79 2.62 2.11 1.91 1.34 1.41 1.80 1.80 2.62 2.12 7.01 (X) (X) 1.64 3.84 3.98 5.74 7.01 (X) (X) 1.64 3.85 3.94 5.85 7.04 (X) (X) 1.69 3.87 3.98 5.87 6.93 (X) (X) 1.69 3.87 4.00 5.91 Furniture and related products………………………. Miscellaneous products…………………………………… 1.64 1.82 1.41 2.29 1.65 1.83 1.41 2.29 1.66 1.86 1.40 2.28 1.65 1.82 1.44 2.28 4.12 14.47 1.98 (X) 4.08 14.54 1.95 (X) 4.11 14.64 1.92 (X) 4.05 14.07 1.95 (X) Nondurable goods industries…………………………….. Food products……………………………………………………. Beverage and tobacco products……………………… Textiles……………….…….……….……………………………….. Textile products……………….….……………………………. Apparel………….…………..…..….……………………………… Leather and allied products………………………….. Paper products…………………..…………………………….. Printing………………...….……………………………………….. Petroleum and coal products…………………………. Chemical products………………..…………………………. Plastics and rubber products………………………….. 1.19 0.82 1.90 1.75 2.05 2.44 2.78 1.11 1.02 0.85 1.57 1.40 1.19 0.82 1.88 1.72 2.06 2.47 2.70 1.11 1.04 0.86 1.57 1.40 1.20 0.83 1.90 1.69 2.11 2.53 2.69 1.12 1.04 0.85 1.58 1.40 1.20 0.82 1.88 1.70 2.06 2.54 2.81 1.12 1.03 0.84 1.59 1.40 (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) 3 Computers and electronic products ………………. Electrical equipment, appliances, and components………………....………………………… Transportation equipment………………………………. X Not Applicable p Preliminary r Revised data due to late receipts and concurrent seasonal adjustment. 2 Excludes the following industries with no unfilled orders: Wood products; nonmetallic mineral products; medical equipment and supplies; office supplies; other miscellaneous manufacturing; cutlery and handtools; farm and garden machinery; computer storage and peripheral devices; audio and video equipment; manufacturing and reproducing magnetic and optical media; batteries; automobiles; light trucks and utility vehicles; heavy duty trucks; and miscellaneous furniture. 3 Unfilled orders to shipments ratio excludes semiconductor manufacturing. 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY25-0224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . Table 8. Revisions to Previously Published Monthly Percent Changes 1 [Based on Seasonally Adjusted data from the Manufacturers' Shipments, Inventories, and Orders Survey.] Shipments New Orders 3 Industry 2 Jan 2026 Unfilled Orders Jan3 2025- Jan 20252 Dec Jan 2026 2025 2 Dec 2025 Inventories Jan3 2025Jan 2026 Jan3 20252 Dec 2025 Jan 2026 Dec 2025 All manufacturing industries.…..…..……. (X) 0.1 (X) 0.2 (X) 0.1 (X) 0.0 Durable goods industries.....…........……. Wood products………………..…………………… Nonmetallic mineral products………….. Primary metals……………….…………………….. Fabricated metal products……………….. Machinery……………….…..……….……………….. Computers and electronic products….. Electrical equipment, appliances, and components………………....…………… Transportation equipment……………….. Furniture and related products…………. Miscellaneous products…………………….. 0.0 (X) (X) -0.1 -0.1 -0.3 0.5 0.1 0.2 0.5 0.3 0.2 0.2 0.2 0.0 (X) (X) -0.1 -0.1 0.0 0.5 0.3 (NA) (NA) 0.3 0.3 0.4 0.4 0.0 (X) (X) -0.1 0.0 0.1 0.0 0.1 (NA) (NA) 0.1 0.1 0.0 0.1 0.0 (X) (X) 0.2 0.0 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.1 0.1 0.0 0.0 (X) (X) 0.4 0.2 0.3 0.2 0.0 0.1 (X) (X) 0.6 0.6 0.5 0.2 0.0 0.0 (X) (X) 0.2 0.1 0.2 0.1 0.0 0.1 (X) (X) 0.1 0.1 0.2 0.0 Nondurable goods industries………………. Food products………………………………………. Beverage and tobacco products………… Textiles……………….…….……….…………………. Textile products……………….….……………… Apparel………….…………..…..….………………… Leather and allied products……………… Paper products…………………..………………… Printing………………...….…………………………… Petroleum and coal products…………… Chemical products………………..…………… Plastics and rubber products……………. (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) 0.1 0.1 0.3 0.5 0.2 0.9 2.0 0.2 0.3 0.4 0.1 0.2 (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (NA) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) 0.0 0.1 0.1 0.1 0.2 0.3 0.6 0.1 0.2 0.2 0.1 0.1 X Not Applicable NA Not Available 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 data for non-calendar reporters. Seasonally adjusted estimates include concurrent adjustments for holiday and trading-day differences, where appropriate, as well as seasonal variation, based on the results of the latest annual review of the model parameters. Estimates are not adjusted for price changes. 2 The current month revisions are the difference between the advance percent change and the percent change as shown in this publication. 3 The twelve month revisions are the differences between the month-to-month percent changes of the preliminary and final estimates. The monthly averages are the simple averages of the absolute values of the differences for the months specified. The advance to final percent change revisions for the durable goods industries are shown in the advance report for the month. 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 . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY25-0224). Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders (M3) Survey, January Full Report, March 18, 2026. Information on data sources and methodology can be found on our website at . 1