The 2020 Mid-Year Economic Update_long

March Wholesale Revenues Down 4% YOY

Sales of durable goods up 2.5 percent from last March.

Wholesale revenues in March were $441.6 billion, down 0.2 percent from the revised February level and down 4 percent from March 2014, according to the U.S. Census Bureau.

March sales of durable goods were up 1.3 percent from last month and up 2.5 percent from a year ago. Sales of electrical and electronic goods were up 3.2 percent from last month and sales of motor vehicle and motor vehicle parts and supplies were up 2.5 percent. Sales of nondurable goods were down 1.5 percent from February and down 9.6 percent from last March. Sales of farm product raw materials were down 7 percent from last month and sales of petroleum and petroleum products were down 5.1 percent.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $574.5 billion at the end of March, up 0.1 percent from the revised February level and were up 5.1 percent from the March 2014 level. Inventories of furniture and home furnishings were up 2.2 percent from last month and inventories of computer and computer peripheral equipment and software were up 1.7 percent. Inventories of nondurable goods were down 0.4 percent from February, but were up 1.5 percent from last March. Inventories of petroleum and petroleum products were down 4.3 percent from last month.

The March inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.30. The March 2014 ratio was 1.19.

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