What was going on when I was born?

Orders for new manufactured goods rose 1.5 percent in May while shipments for the month advanced 2.6 percent, the largest one-month gain since October 1980, the Commerce Department reported today. At the same time, the department reported that the value of inventories of unsold goods fell 1 percent in May, to $271.5 billion, marking the fifth decline in the last six months. Such declines are considered a sign of future economic strength on the ground that inventories will have to be rebuilt eventually through new orders.

International The President discussed the crisis in Lebanon in greater depth than previously in a televised news conference. Mr. Reagan said his Administration had given ''no green light whatsoever'' to Israel to attack west Beirut, but he endorsed Israel's demand that all Palestinian guerrillas in Lebanon be withdrawn. (Page A1, Column 6.) Talks in Beirut made some progress as negotiators for the Lebanese Government and the Palestine Liberation Organization sought an agreement on how and when the Palestinians should leave Lebanon. (A1:4-5.)

The Supreme Court today struck down a New York State law that required landlords to permit the installation of cable television equipment for a $1 fee. In a 6-to-3 ruling, the Court said the law effected a ''taking'' of private property by the state without the ''just compensation'' required by the Constitution. Writing for the majority, Associate Justice Thurgood Marshall said that the law required landlords to sustain a ''permanent physical occupation'' of their property. ''Such an appropriation,'' he said, ''is perhaps the most serious form of invasion of an owner's property interests.''

The board of the Metropolitan Transportation Authority decided yesterday to postpone at least until December proposed increases in subway, bus and commuter fares. As a result of the decision, the State Financial Control Board voted unanimously last night to grant a six-month - rather than a one-year - approval of the authority's financial plan for fiscal 1983, which begins today. The M.T.A. board had been considering a 20-cent increase in the 75-cent subway and bus fares, as well as rises of 33 percent in commuter fares on the Long Island Rail Road and in the metropolitan region of Conrail. These facilities are used by nearly six million passengers each working day.

The Boeing Company pleaded guilty in a Federal court here today to failing to disclose payments of at least $7 million in commissions to overseas agents to help win orders for 35 aircraft valued at $344 million. Boeing, the world's largest manufacturer of commercial jetliners, pleaded guilty to 40 counts of filing false statements with the Export-Import Bank in connection with its financing of aircraft sales to airlines in Spain, Lebanon, Honduras and the Dominican Republic in the early 1970's. Under the plea entered in the United States District Court, Boeing agreed to pay $400,000 in criminal fines and $50,000 in court costs to end a five-year-long Justice Department investigation. The Government agreed not to bring any charges relating to foreign payments that might be disclosed in later company filings with the Securities and Exchange Commission.

A decision blocking all Federal funds for the Westway project was issued in Manhattan yesterday by a Federal judge who accused government agencies of deliberately misrepresenting the project's impact on fish in the Hudson River. The judge, Thomas P. Griesa, castigated Federal and state agencies in unusually strong language, asserting that they had ''colluded'' in concealing important information about the river's fish, particularly striped bass. Judge Griesa cast doubt over the huge project, which was designed to replace the old West Side Highway. The long-delayed Westway was expected to cost from $1.7 billion to $4 billion and to create thousands of jobs over several years.

There are two distinct cities of Beirut separated by a no man's land called the Green Line. In predominantly Moslem western Beirut, frightened residents were poised for an expected Israeli invasion to rout 5,000 to 6,000 Palestinian guerrillas who are tucked away in houses and side streets. But the ruling clans and private armies in mostly Christian eastern Beirut despise the guerrillas and tolerate the Israelis. There, life seemed almost normal today, as if the horror of the west side of the city did not exist.

Executives at some of the nation's largest companies are finding President Reagan's economic program bitter medicine, but remain convinced that it is the country's best bet for a long-term cure of lingering economic ills. Although many economists appear disillusioned with the program, and its practical benefits remain somewhat elusive, the executives said that they were inclined to stick with the plan, entering its second stage today. The economy would be even more likely to thrive, they said in interviews this week, if the President and Congress could reduce Federal deficits and bring down interest rates as a result. ''If you're looking long term, I believe that Reagan's economic program is very, very good for the United States,'' said Jack F. Reichert, president and chief executive of the Brunswick Corporation of Skokie, Ill., makers of recreational equipment and technical products. ''As painful as it is, in the long run, it is going to lead to a stronger industrial economy.''

Palestinian leaders and Lebanese officials made some progress today in negotiations over how and when the fighters of the Palestine Liberation Organization should leave Lebanon. One remaining problem appears to be that no Arab country is ready to accept them all. Although the Palestinians have affirmed their willingness to negotiate an ''honorable'' exit from their stronghold in west Beirut and a neutralization of their armed presence, the talks have bogged down. ''The P.L.O. leadership does not want to remain in Beirut,'' said Saeb Salam, a former Lebanese Prime Minister, who has been an intermediary between Yasir Arafat, the P.L.O. leader, and Philip C. Habib, the special American envoy. ''The P.L.O. leadership and the Lebanese Government agree that some of the fighters should leave, but it must be done with honor and cannot be accomplished overnight.''

The index of leading economic indicators rose 0.3 percent in May, its third consecutive monthly increase, the Commerce Department reported. The increase in the index, which is used to forecast recoveries and recessions, was seen as another sign that the recession has bottomed out. However, some officials and private economists were disappointed that the gain was so small. (Page D1.) Orders for new manufactured goods rose 1.5 percent in May, the Commerce Department reported, while shipments for the month advanced 2.6 percent, the largest one-month gain since October 1980. At the same time, the value of inventories of unsold goods fell 1 percent in May, to $271.5 billion, marking the fifth decline in the past six months. Such declines often indicate future economic strength. (D1.) Prices that farmers get for raw goods fell 0.7 percent in June. (D7.)

An article in Metropolitan Report on Monday about a Staten Island lake that is losing water included a comment from a resident who incorrectly described a proposed city project. It would be an oilimport terminal.

The Government's index of leading economic indicators, intended to forecast recoveries and recessions, rose three-tenths of 1 percent in May, the Commerce Department reported today. It was the third consecutive monthly rise and another sign that the recession is over. The report follows last week's announcement that the initial estimate for the gross national product in the second quarter, when adjusted for inflation, was a slight increase of six-tenths of 1 percent, the first rise in the G.N.P. since the third quarter of 1981. The increase in the index of leading indicators follows a revised 1.3 percent jump in April from the March level and a revised twotenths of 1 percent gain for March, which was originally reported as a decline of five-tenths of 1 percent. Before March, the index had declined or remained unchanged each month since April 1981, three months before the current recession began.