Research >> Economics
Wholesale Inventories up 1.0% in February
|
The U.S. Census Bureau announced today that February 2011 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 $379.0 billion, down 0.8 percent (+/-0.7%) from the revised January level, but were up 13.7 percent (+/-1.4%) from the February 2010 level. The January preliminary estimate was revised downward $0.7 billion or 0.2 percent. February sales of durable goods were down 1.2 percent (+/-1.2%)* from last month, but were up 12.5 percent (+/-1.9%) from a year ago. Compared to last month, sales of furniture and home furnishings were down 4.1 percent and sales of electrical and electronic goods were down 2.6 percent. Sales of nondurable goods were down 0.4 percent (+/-0.7%)* from last month, but were up 14.7 percent (+/-1.6%) from last year. Sales of farm product raw materials were down 3.5 percent from last month, while sales of grocery and related products were up 3.5 percent.
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $438.0 billion at the end of February, up 1.0 percent (+/-0.2%) from the revised January level and were up 12.7 percent (+/-1.2%) from a year ago. The January preliminary estimate was revised downward $0.1 billion. End-of-month inventories of durable goods were up 0.6 percent (+/-0.4%) from last month and were up 9.5 percent (+/-1.4%) from last February. Inventories of metals and minerals, except petroleum were up 2.8 percent and inventories of hardware, and plumbing and heating equipment and supplies were up 1.5 percent from last month. End-of-month inventories of nondurable goods increased 1.5 percent (+/-0.4%) from January and were up 17.3 percent (+/-2.3%) compared to last February. Inventories of petroleum and petroleum products were up 9.3 percent from last month.
The February inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.16. The February 2010 ratio was 1.17.
Posted: April 8, 2011 Friday 10:00 AM