March Wholesale Revenues Up 1.6% from February

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Monthly Wholesale Trade: Sales and Inventories March 2008

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May 8, 2008

March Wholesale Revenues Up 1.6% from February

March 2008 sales of wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $384.3 billion, up 1.6 percent from the revised February level and up 12.6 percent from March 2007.

The February preliminary estimate was revised upward $0.9 billion or 0.2 percent.

March sales of durable goods were up 2.3 percent from last month and were up 4.8 percent from a year ago. Compared to last month, motor vehicle and motor vehicle parts and supplies were up 4.5 percent and sales of metals and minerals, except petroleum, were up 3.5 percent. Sales of nondurable goods were up 1.0 percent from last month and were up 20.1 percent from last year.

Sales of farm product raw materials were up 9.4 percent from last month and sales of beer, wine, and distilled alcoholic beverages were up 2.7 percent.

Inventories. Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $420.8 billion at the end of March, down 0.1 percent from the revised February level, but were up 6.8 percent from a year ago. The February preliminary estimate was revised downward 0.8 billion, or 0.2 percent. End-of-month inventories of durable goods were up 0.3 percent from last month and were up 2.9 percent from last March. Inventories of computer and computer peripheral equipment and software were up 3.0 percent from last month, but inventories of lumber and other construction materials were down 1.4 percent.

End-of-month inventories of nondurable goods decreased 0.7 percent from February, but were up 13.7 percent compared to last March. Inventories of petroleum and petroleum products were down 5.6 percent from last month and inventories of farm product raw materials were down 3.9 percent.

Inventories/Sales Ratio. The March inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.09. The March 2007 ratio was 1.15.

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