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The June preliminary estimate was revised upward $0.2 billion or 0.1 percent. July sales of durable goods increased 0.4 percent (+/-1.0%)
from last month and were up 1.4 percent (+/-1.3%) from a year ago. Compared to last month, sales of lumber and other construction
materials increased 3.9 percent and sales of furniture and home furnishings increased 2.9 percent. July sales of nondurable goods increased 0.5 percent (+/-0.8%) from last month and were up 6.3 percent (+/-1.5%) from last year. Compared to last month, sales of beer, wine, and distilled alcoholic beverages were up 3.3 percent, while sales of farm product raw materials decreased 8.2 percent.
Inventories. Total inventories of merchant wholesalers, after adjustment for seasonal variations but not for price changes, were $289.0 billion at the end of July, virtually unchanged (+/-0.4%) from last month, and were up 1.0 percent (+/-0.9%) from a year ago. The June preliminary estimate was revised downward $0.1 billion. End-of-month inventories of durable goods decreased 0.5 percent (+/-0.4%) from June, but were up 0.4 percent (+/-1.0%) from last year. Inventories of motor vehicle and motor vehicle parts and supplies decreased 2.1 percent from last month and inventories of metal and minerals decreased 1.3 percent. End-of-month inventories of nondurable goods increased 0.8 percent (+/-0.6%) from June and were up 1.9 percent (+/-1.9%) from last year. Inventories of drugs and druggists' sundries increased 3.1 percent from June and inventories of groceries and related products increased 0.9 percent (+/-1.3%) from last month.
Inventories/Sales Ratio. The July inventories/sales ratio for merchant wholesalers, based on seasonally adjusted data, was 1.21. The July 2002 ratio was 1.25.
Source: U.S. Census Bureau