--- source: U.S. Census Bureau url: https://www.census.gov/manufacturing/m3/prel/pdf/s-i-o.pdf document_type: pdf date_retrieved: 2026-03-18 release_date: 2026-03-18T10:00:00Z period: January 2026 parent_publication: Manufacturers' Shipments, Inventories, and Orders (M3) indicators_covered: [Factory Orders, Shipments, Unfilled Orders, Inventories] release_number: CB 26-38 M3-2 (26)-01 --- # Monthly Full Report on Manufacturers' Shipments, Inventories and Orders ## January 2026 **Release Date:** Wednesday, March 18, 2026 – 10:00 AM EDT --- ## 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 **Durable Goods** 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 the last four months, drove the decrease, **$0.9 billion or 0.8 percent to $113.5 billion**. **Nondurable Goods** New orders for manufactured nondurable goods **increased $0.9 billion or 0.3 percent to $298.7 billion**. --- ## SHIPMENTS **Durable Goods** 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**. **Nondurable Goods** 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 **Durable Goods** 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 **Durable Goods** 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**. **Nondurable Goods** 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. --- ## NOTES AND METHODOLOGY ### Survey Description 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. The 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) - **Inventories by stage of fabrication** (materials and supplies, work-in-process, and finished goods) ### Panel Composition 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 month-to-month change for the Manufacturing Sector. These reporting units may be: - Divisions of diversified large companies - Large homogenous companies - Single-unit manufacturers The companies are classified into **92 industry categories**, which are combined into **65 publication levels** due to the small monthly panel size. ### Sample Coverage 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. ### Limitations and Errors 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 sources, including: - Use of company or divisional reports to estimate monthly change for establishments - Use of primarily large companies to represent month-to-month movement of all companies Data are adjusted for seasonal variation but not for price changes. Statistical significance is not measurable for this survey. ### Adjustments Estimates of manufacturers' shipments, inventories and orders are seasonally adjusted and adjusted for concurrent holiday and trading-day differences, where appropriate. Estimates are **not adjusted for price changes**. The phrase "**virtually unchanged**" indicates that the change is less than 0.05 percent for a percent increase or decrease. Figures in text exclude data for semiconductor manufacturing. --- ## 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 (M3) survey. --- ## CONTACT INFORMATION **Data Inquiries:** - Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) - Phone: 301-763-4832 - Email: eid.m3.qs@census.gov **Media Inquiries:** - Public Information Office - Phone: 301-763-3030 --- **Source:** U.S. Census Bureau, Manufacturers' Shipments, Inventories and Orders (M3) Survey, January Full Report, March 18, 2026. **Additional Information:** The full text and tables of this release can be found at www.census.gov/m3