Research >> Economics
Wholesale Inventories down 1.3% in August
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The U.S. Census Bureau announced today that August 2009 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $317.9 billion, up 1.0 percent (+/-0.5%) from the revised July level, but were down 17.7 percent (+/-1.4%) from the August 2008 level. The July preliminary estimate was revised upward $0.2 billion or 0.1 percent. August sales of durable goods were up 1.2 percent (+/-0.5%) from last month, but were down 18.8 percent (+/-2.1%) from a year ago. Sales of motor vehicle and motor vehicle parts and supplies were up 7.7 percent from last month and sales of electrical and electronic goods were up 2.5 percent from last month. Sales of nondurable goods were up 0.9 percent (+/-1.1%) from last month, but were down 16.7 percent (+/-1.6%) from last year. Sales of petroleum and petroleum products were up 7.0 percent from last month.
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $381.2 billion at the end of August, down 1.3 percent (+/-0.4%) from the revised July level and were down 14.7 percent (+/-1.2%) from a year ago. The July preliminary estimate was revised downward $0.9 billion or 0.2 percent. End-of-month inventories of durable goods were down 1.6 percent (+/-0.4%) from last month and were down 15.5 percent (+/-1.1%) from last August. Inventories of metals and minerals, except petroleum, were down 4.3 percent from last month and inventories of motor vehicle and motor vehicle parts and supplies were down 2.3 percent. End-of-month inventories of nondurable goods were down 0.9 (+/-0.7%) from July and were down 13.3 percent (+/-1.6%) compared to last August. Inventories of paper and paper products were down 2.1 percent from last month and inventories of drugs and druggists' sundries were down 1.9 percent.
The August inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.20. The August 2008 ratio was 1.16.
Posted: October 8, 2009 Thursday 10:00 AM