January Wholesale Revenues Up 2.7% from December

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March 10, 2008

January Wholesale Revenues Up 2.7% from December

U.S. wholesale trade revenues in January 2008 were $387.7 billion, up 2.7 percent from December and up 15.1 percent from January 2007. The December preliminary estimate was revised upward $0.7 billion or 0.2 percent.

January sales of durable goods were up 2.4 percent from last month and were up 5.1 percent from a year ago. Compared to last month, sales of metals and minerals, except petroleum, were up 4.2 percent and sales of furniture and home furnishings were up 3.7 percent. Sales of nondurable goods were up 3.0 percent from last month and were up 24.8 percent from last year. Sales of farm product raw materials were up 16.1 percent from last month and sales of petroleum and petroleum products were up 3.5 percent.

Inventories. Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $414.8 billion at the end of January, up 0.8 percent from the revised December level and were up 6.4 percent from a year ago. The December preliminary estimate was revised downward $0.1 billion.

End-of-month inventories of durable goods were up 0.6 percent from last month and were up 1.7 percent from last January. Inventories of furniture and home furnishings were up 1.9 percent from last month and inventories of machinery, equipment, and supplies were up 0.9 percent. End-of-month inventories of nondurable goods increased 1.2 percent from December and were up 14.9 percent compared to last January. Inventories of farm product raw materials were up 5.7 percent from last month and inventories of apparel, piece goods, and notions were up 2.1 percent.

Inventories/Sales Ratio. The January inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.07. The January 2007 ratio was 1.16.

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