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Shipments of iron and steel mills and ferroalloy and steel product manufacturing fall 1.3 percent in July

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By Metric Media News Service | Nov 14, 2019

Shipments for iron and steel mills and ferroalloy and steel product manufacturing decreased $132 million, or 1.3 percent, to $10.1 billion in July, according to a U.S. Census Bureau report, which was released in September.

The previous month saw shipments for the same category decrease by 3.1 percent ($324 million).

The Census Bureau provides monthly broad-based data on current economic conditions as well as indicators of future production commitments in manufacturing. The statistics are a good indicator for future economic conditions.

Data is collected from approximately 3,100 companies representing manufacturers with $500 million or more in annual shipments. It is broken down into 89 industry categories of units that may be divisions of diversified companies, homogenous companies or single-unit manufacturers.

The statistics include the value of shipments as provided by manufacturers, new orders (net of cancellations), end-of-month order backlog/unfilled orders, end-of-month total inventory, materials and supplies, work in progress, and finished goods inventories at current market value or costs.

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