Manufacturers' Shipments, Inventories, and Orders                    M3......

The M3DATA file includes a separate record  (reflecting 12 months of data) for
each year (1958 or 1968 to 1993) for each of 7 items:  value of shipments, new
orders, unfilled orders, 4 inventory figures:  total, materials and supplies,
work in process, and finished goods.  The M3RATIO file has ratios of
inventories to shipments and unfilled orders to shipments.

There is a break in all inventories series:  Data prior to 1982 are book value
estimates based on a mix of inventory valuation methods.  For 1982 and later,
data are valued on a current cost basis.

Detailed data lines with an * in the UNPUB field are less reliable than
higher level aggregates and are for your internal use, not for publication.

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