[Federal Register: February 11, 2009 (Volume 74, Number 27)]
[Notices]
[Page 6855-6856]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11fe09-18]

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DEPARTMENT OF COMMERCE


Submission for OMB Review; Comment Request

    The Department of Commerce will submit to the Office of Management
and Budget (OMB) for clearance the following proposal for collection of
information under the provisions of the Paperwork Reduction Act (44
U.S.C. chapter 35).
    Agency: U.S. Census Bureau.
    Title: Manufacturers' Shipments, Inventories, and Orders (M3).
    Form Number(s): M-3(SD).
    OMB Control Number: 0607-0008.
    Type of Request: Extension of a currently approved collection.
    Burden Hours: 17,200.
    Number of Respondents: 4,300.
    Average Hours per Response: 20 minutes.
    Needs and Uses: The U.S. Census Bureau is requesting an extension
of the currently approved collection for the Manufacturers' Shipments,
Inventories, and Orders (M3) survey. This 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, total inventory, materials and supplies, work-in-process, and
finished goods. 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 or 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.
    This survey provides an essential component of the current economic
indicators needed for assessing the evolving status of the economy and
formulating economic policy. The Office of Information and Regulatory
Affairs, Office of Management and Budget (OMB) has designated this
survey as a principal federal economic indicator. The shipments and
inventory data are essential inputs to the gross domestic product
(GDP), while the orders data are direct inputs to the leading economic
indicator series. The GDP and the economic indicator series would be
incomplete without these data. The survey also provides valuable and
timely domestic manufacturing data for economic planning and analysis
to business firms, trade associations, research and consulting
agencies, and academia.
    The data are used for analyzing short- and long-term trends, both
in the manufacturing sector and as related to other sectors of the
economy. The data on value of shipments, especially when adjusted for
change in inventory, measure current levels of production. New orders
figures serve as an indicator of future production commitments. Changes
in the level of unfilled orders, because of excess or shortfall of new
orders compared with shipments, are used to measure the excess (or
deficiency) in the demand for manufactured products. Changes in the
level of inventories and the relation of these to shipments are used to
project future movements in manufacturing activity. These statistics
are valuable for analysts of business cycle conditions including
members of the Council of Economic Advisers (CEA), the Bureau of
Economic Analysis (BEA), the Federal Reserve Board (FRB), the
Department of the Treasury, business firms, trade associations, private
research and consulting agencies, and the academic community.
    Affected Public: Business or other for-profit.
    Frequency: Monthly.
    Respondent's Obligation: Voluntary.
    Legal Authority: Title 13, United States Code, Sections 131, 182,
193, and 224.
    OMB Desk Officer: Brian Harris-Kojetin, (202) 395-7314.
    Copies of the above information collection proposal can be obtained
by calling or writing Diana Hynek, Departmental Paperwork Clearance
Officer, (202) 482-0266, Department of Commerce, Room 7845, 14th and
Constitution Avenue, NW., Washington, DC 20230 (or via the Internet at
dhynek@doc.gov).
    Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to Brian Harris-Kojetin, OMB Desk Officer either by fax (202-395-7245)
or e-mail (bharrisk@omb.eop.gov).


[[Page 6856]]


    Dated: February 5, 2009.
Glenna Mickelson,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. E9-2780 Filed 2-10-09; 8:45 am]

BILLING CODE 3510-07-P