February Wholesale Revenues Edge Up From January

February 2009 sales of merchant wholesalers, except manufacturers' sales branches and offices, were $319.7 billion, up 0.6% from January and down 14.3% from February 2008, according to the U.S. Census Bureau.
 
The January preliminary estimate was revised downward $0.7 billion or 0.2%. February sales of durable goods were up 2.0% from last month, but were down 14.8% from a year ago. Compared to last month, sales of motor vehicle and motor vehicle parts and supplies were up 3.7%, while sales of metals and minerals, except petroleum, were down 5.6%. Sales of nondurable goods were down 0.4% from last month and were down 13.8% from last year. Sales of chemicals and allied products were down 4.6% from last month.
 
Inventories
Total inventories of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations but not for price changes, were $419.3 billion at the end of February, down 1.5% from the revised January level, and were down 1.7% from a year ago. The January preliminary estimate was revised upward $0.2 billion. End-of-month inventories of durable goods were down 2.4% from last month, but were up 0.7% from last February.
 
Inventories of motor vehicle and motor vehicle parts and supplies were down 7.9% from last month and inventories of furniture and home furnishings were down 3.0%. End-of-month inventories of nondurable goods decreased 0.2%  from January and were down 5.5% compared to last February. Inventories of farm product raw materials were down 5.4% from last month, and inventories of paper and paper products were down 4.8%.
 
Inventories/Sales Ratio
The February inventories/sales ratio for merchant wholesalers, except manufacturers' sales branches and offices, based on seasonally adjusted data, was 1.31. The February 2008 ratio was 1.14.

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