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Wholesale Inventories down 0.7% in January
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The U.S. Census Bureau announced today that January 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 $326.1 billion, down 2.9 percent (+/-0.9%) from the revised December level and were down 15.4 percent (+/-1.1%) from the January 2008 level. The December preliminary estimate was revised downward $0.3 billion or 0.1 percent. January sales of durable goods were down 6.5 percent (+/-1.4%) from last month and were down 17.3 percent (+/-1.6%) from a year ago. Compared to last month, sales of metals and minerals, except petroleum, were down 15.3 percent and sales of machinery, equipment, and supplies were down 10.8 percent. Sales of nondurable goods were up 0.3 percent (+/-1.1%) from last month, but were down 13.7 percent (+/-1.8%) from last year. Sales of chemicals and allied products were down 4.9 percent from last month, while sales of drugs and druggists' sundries were up 2.1 percent.
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $424.2 billion at the end of January, down 0.7 percent (+/-0.4%) from the revised December level, but were up 1.0 percent (+/-0.9%) from a year ago. The December preliminary estimate was revised downward $0.2 billion. End-of-month inventories of durable goods were down 1.3 percent (+/-0.4%) from last month, but were up 4.0 percent (+/-1.2%) from last January. Inventories of motor vehicle and motor vehicle parts and supplies were down 4.8 percent from last month and inventories of furniture and home furnishings were down 3.5 percent. End-of month inventories of nondurable goods increased 0.2 percent (+/-0.7%)* from December, but were down 3.7 percent (+/-1.9%) compared to last January. Inventories of petroleum and petroleum products were up 12.4 percent from last month, while inventories of chemicals and allied products were down 6.6 percent.
The January inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.30. The January 2008 ratio was 1.09.
Posted: March 10, 2009 Tuesday 10:00 AM