The 2020 Mid-Year Economic Update_long

May Wholesale Revenues Down 3.8% YOY

Sales of durable goods up 1.6 percent from last May.

Wholesale revenues in May were $449.8 billion, up 0.3 percent from the revised April level, but were down 3.8 percent from May 2014, according to the U.S. Census Bureau.

May sales of durable goods were down 0.1 percent from last month, but up 1.6 percent from a year ago. Sales of furniture and home furnishings were down 2.8 percent from last month, while sales of motor vehicle and motor vehicle parts and supplies were up 2.2 percent. Sales of nondurable goods were up 0.7 percent from April, but were down 8.3 percent from last May. Sales petroleum and petroleum products were up 4.3 percent from last month.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $581.9 billion at the end of May, up 0.8 percent from the revised April level and were up 5 percent from the May 2014 level. Inventories of durable goods were up 0.6 percent from last month and were up 6.2 percent from a year ago. Inventories of computer and computer peripheral equipment and software were up 2.5 percent from last month and inventories of motor vehicle and motor vehicle parts and supplies were up 1.2 percent. Inventories of nondurable goods were up 1.2 percent from April and up 3.1 percent from last May. Inventories of petroleum and petroleum products were up 4.4 percent from last month and inventories of drugs and druggists' sundries were up 2.7 percent.

The May inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.29. The May 2014 ratio was 1.19.

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