The 2020 Mid-Year Economic Update_long

February Wholesale Revenues Down 1.5% YOY

Sales of durable goods up 3.5 percent from last February.

Wholesale revenues in February were $444.2 billion, down 0.2 percent from the revised January level and down 1.5 percent from February 2014, according to the U.S. Census Bureau.

February sales of durable goods were down 2.4 percent from last month, but were up 3.5 percent from a year ago. Sales of electrical and electronic goods were down 5 percent from last month and sales of machinery, equipment, and supplies were down 3.4 percent. Sales of nondurable goods were up 1.9 percent from January, but were down 5.8 percent from last February. Sales of petroleum and petroleum products were up 5.5 percent from last month and sales of drugs and druggists' sundries were up 4 percent.

Total inventories were $574 billion at the end of February, up 0.3 percent from the revised January level and up 6.1 percent from February 2014. February inventories of durable goods were up 0.3 percent from last month and up 7.6 percent from a year ago. Inventories of motor vehicle and motor vehicle parts and supplies were up 2.4 percent from last month, while inventories of lumber and other construction materials were down 2.2 percent. Inventories of nondurable goods were up 0.2 percent from January and up 3.8 percent from last February. Inventories of petroleum and petroleum products were up 2.4 percent from last month, while inventories of chemicals and allied products were down 2.9 percent.

The February inventories/sales ratio for merchant wholesalers was 1.29. The February 2014 ratio was 1.20.

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