Nov 18 -- The U.S. Census Bureau is requesting that OMB approve the continued collection of the Manufacturers' Shipments, Inventories, and Orders (M3) survey and invites M3 users to submit comments to OMB by December 18, 2020.
The M3 survey collects monthly data from domestic manufacturers on Form M-3 (SD), which is mailed at the end of each month. Data requested are shipments, new orders, unfilled orders, and inventories by stage of fabrication. It is currently the only survey that provides broad-based monthly statistical data on the economic conditions in the domestic manufacturing sector. The survey is designed to measure current industrial activity and to provide an indication of future production commitments. The value of shipments measures the value of goods delivered during the month by domestic manufacturers. Estimates of new orders serve as an indicator of future production commitments and represent the current sales value of new orders received during the month, net of cancellations. Substantial accumulation Sor depletion of backlogs of unfilled orders measures excess (or deficient) demand for manufactured products. The level of inventories, especially in relation to shipments, is frequently used to monitor the business cycle.
Beginning in 2021, the U.S. Census Bureau will be accelerating the non-durable manufacturing data in the advance high-level total manufacturing estimates for shipments and inventories. This additional data release will provide data users with early access to total manufacturing estimates, giving an early snapshot of the direction of this critical indicator. Prior to releasing the advance total manufacturing data, the U.S. Census Bureau submitted a memo of exception to the Office of Management and Budget. The advance statistics for shipments and inventories will be released at the same time as the Advance Report on Durable Goods Manufacturers' Shipments, Inventories and Orders.
M3 webpage:
https://www.census.gov/manufacturing/m3/index.html
M3 package submitted to OMB:
https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202011-0607-004 Click on IC List for survey instruments, View Supporting Statement for plans, methods, timeline, and sample advanced and full reports
FR notice inviting comment:
https://www.federalregister.gov/documents/2020/11/18/2020-25457/agency-information-collection-activities-submission-to-the-office-of-management-and-budget-omb-for
Point of contact: Carol Aristone, Assistant Division Chief, Quarterly and Manufacturing Indicator Programs, Economic Indicators Division, U.S. Census Bureau (301) 763- 7062 carol.ann.aristone@census.gov
For AEA members wishing to submit comments, "A Primer on How to Respond to Calls for Comment on Federal Data Collections" is available at
https://www.aeaweb.org/content/file?id=5806