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Wholesale Inventories up 0.3% in October
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The U.S. Census Bureau announced today that October 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 $326.2 billion, up 1.2 percent (+/-0.7%) from the revised September level, but were down 9.6 percent (+/-1.6%) from the October 2008 level. The September preliminary estimate was revised upward $2.0 billion or 0.6 percent. October sales of durable goods were up 0.8 percent (+/-1.4%) from last month, but were down 11.1 percent (+/-2.6%) from a year ago. Sales of computer and computer peripheral equipment and software were up 5.8 percent from last month and sales of electrical and electronic goods were up 5.3 percent. Sales of nondurable goods were up 1.6 percent (+/-0.7%) from last month, but were down 8.3 percent (+/-1.1%) from last year. Sales of petroleum and petroleum products were up 5.9 percent from last month and sales of farm product raw materials were up 5.1 percent.
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $379.6 billion at the end of October, up 0.3 percent (+/-0.5%) from the revised September level, but were down 13.5 percent (+/-1.2%) from a year ago. The September preliminary estimate was revised upward $0.6 billion or 0.1 percent. End-of-month inventories of durable goods were down 0.4 percent (+/-0.5%) from last month and were down 16.7 percent (+/-1.1%) from last October. Inventories of metals and minerals, except petroleum, were down 1.5 percent from last month, while motor vehicle and motor vehicle parts and supplies were up 1.7 percent. End-of-month inventories of nondurable goods were up 1.5 percent (+/-0.9%) from September, but down 8.1 percent (+/-1.8%) compared to last October. Inventories of farm product raw materials were up 11.4 percent from last month and inventories of petroleum and petroleum products were up 4.6 percent.
The October inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.16. The October 2008 ratio was 1.22.
Posted: December 9, 2009 Wednesday 10:00 AM