
The Manufacturers’ Shipments, Inventories, and Orders (M3) survey provides broad-based, monthly statistical data on economic conditions in the domestic manufacturing sector. The survey measures current industrial activity and provides an indication of future business trends.
Bureau of Economic Analysis uses M3 data to make GDP estimates and compiles the principal economic indicator series. The Federal Reserve Board, Department of Treasury, Council of Economic Advisers develop fiscal and monetary policy. Corporate economists, trade associations, news media, academia, investment consultants, and researchers use M3 data for analysis and forecasting of future economic conditions.