Manufacturers' Shipments, Inventories and Orders (M3) Supplement: Unfilled Orders Benchmark Survey

DEPARTMENT OF COMMERCE

Census Bureau

Manufacturers' Shipments, Inventories and Orders (M3) Supplement:

Unfilled Orders Benchmark Survey

ACTION: Proposed collection; comment request.

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SUMMARY: The Department of Commerce, as part of its continuing effort

to reduce paperwork and respondent burden, invites the general public

and other Federal agencies to take this opportunity to comment on

proposed and/or continuing information collections, as required by the

Paperwork Reduction Act of 1995, Pub. L. 104-13 (44 U.S.C.

3506(c)(2)(A)).

DATES: Written comments must be submitted on or before November 9,

1999.

ADDRESSES: Direct all written comments to Linda Engelmeier,

Departmental Forms Clearance Officer, Department of Commerce, Room

5033, 14th and Constitution Avenue, NW, Washington, DC 20230 (or via

the Internet at LE[email protected]).

FOR FURTHER INFORMATION CONTACT: Requests for additional information or

copies of the information collection instrument and instructions should

be directed to Lee Wentela, U.S. Census Bureau, Room 2232 FB-4,

Washington, DC 20233, on (301) 457-4832.

SUPPLEMENTARY INFORMATION:

I. Abstract

The Census Bureau presently conducts the Manufacturers' Shipments,

Inventories, and Orders (M3) survey under Office of Management and

Budget (OMB) control number 0607-0008. The M3 survey collects monthly

data on shipments, inventories, and new and unfilled orders from

manufacturing companies. The orders, as well as the shipments and

inventory data, are used widely and are valuable tools for analysts of

business cycle conditions, including members of the Council of Economic

Advisers, the Treasury Department, and the business community. The

proposed supplement for unfilled orders will collect value of unfilled

orders at the end of 1999. Estimates of unfilled orders will be made

for industries classified according to the new North American Industry

Classification System (NAICS). These estimates will provide benchmark

levels of unfilled orders by NAICS industries for the monthly M3

indicator series.

The monthly M3 estimates are based on a relatively small sample and

reflect primarily the month-to-month changes of large companies. There

is a clear need for periodic benchmarking of the M3 estimates to

reflect the entire manufacturing universe. The Annual Survey of

Manufactures (OMB control number 0607-0449) provides annual benchmarks

for the shipments and inventory data collected in this monthly survey.

However, there is no annual benchmark for new and unfilled orders

estimates. Because of the methodology used for the monthly indicator,

any discrepancy between the indicator series and statistically derived

measures can become exaggerated over time and the results can be

misleading to policy makers. The last benchmark survey for unfilled

orders estimates was for the year 1986. In addition to the long period

between benchmark estimates, the conversion from the Standard

Industrial Classification system to NAICS further exacerbates any

discrepancy and makes the need for the benchmark survey more critical.

II. Method of Collection

The Census Bureau will use mail out/mail back survey forms to

collect the data. Companies will be asked to respond to the survey

within 45 days of receipt. Letters encouraging participation will be

mailed to companies that have not responded by the designated time.

III. Data

OMB Number: 0607-0561 (to be reinstated).

Form Number: MA-300.

Type of Review: Regular.

Affected Public: Businesses, large and small, or other for profit

organizations.

Estimated Number of Respondents: 10,000.

Estimated Time Per Response: .5 hours.

Estimated Total Annual Burden Hours: 5,000.

Estimated Total Annual Cost: $66,200.

Respondent's Obligation: Mandatory.

Legal Authority: Title 13 U.S.C., Section 182.

IV. Request for Comments

Comments are invited on: (a) Whether the proposed collection of

information is necessary for the proper performance

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of the functions of the agency, including whether the information shall

have practical utility; (b) the accuracy of the agency's estimate of

the burden (including hours and cost) of the proposed collection of

information; (c) ways to enhance the quality, utility, and clarity of

the information to be collected; and (d) ways to minimize the burden of

the collection of information on respondents, including through the use

of automated collection techniques or other forms of information

technology.

Comments submitted in response to this notice will be summarized

and/or included in the request for OMB approval of this information

collection; they also will become a matter of public record.

Dated: September 3, 1999.

Linda Engelmeier,

Departmental Forms Clearance Officer, Office of the Chief Information

Officer.

[FR Doc. 99-23512 Filed 9-9-99; 8:45 am]

BILLING CODE 3510-07-P