Research >> Economics
Wholesale Inventories down 1.4% in July
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The U.S. Census Bureau announced today that July 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 $314.5 billion, up 0.5 percent (+/-0.5%)* from the revised June level, but were down 19.8 percent (+/-1.1%) from the July 2008 level. The June preliminary estimate was revised downward $0.2 billion or 0.1 percent. July sales of durable goods were up 1.0 percent (+/-1.1%)* from last month, but were down 21.3 percent (+/-1.8%) from a year ago. Sales of hardware, and plumbing and heating equipment and supplies were up 2.3 percent from last month. Sales of nondurable goods were up 0.1 percent (+/-0.9%)* from last month, but were down 18.6 percent (+/-1.4%) from last year. Sales of drugs and druggists' sundries were up 3.5 percent from last month, while farm product raw materials were down 3.2 percent.
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $387.2 billion at the end of July, down 1.4 percent (+/-0.4%) from the revised June level and were down 12.8 percent (+/-1.1%) from a year ago. The June preliminary estimate was revised downward $1.4 billion or 0.4 percent. End-of-month inventories of durable goods were down 1.5 percent (+/-0.4%) from last month and were down 13.0 percent (+/-1.2%) from last July. Inventories of metals and minerals, except petroleum, were down 4.4 percent from last month and inventories of furniture and home furnishings were down 2.7 percent. End-of-month inventories of nondurable goods were down 1.0 (+/-0.4%) from June and were down 12.4 percent (+/-1.4%) compared to last July. Inventories of farm product raw materials were down 5.1 percent from last month and inventories of beer, wine, and distilled alcoholic beverages were down 2.8 percent.
The July inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.23. The July 2008 ratio was 1.13.
Posted: September 11, 2009 Friday 10:00 AM