The 2020 Mid-Year Economic Update_long

November Wholesale Revenues Down 4.6% YOY

Sales of durable goods down 1.8 percent from last November.

Wholesale revenues in November were $442.8 billion, down 4.6 percent from November 2014 and down 1 percent from October, according to the U.S. Census Bureau.

November sales of durable goods were up 0.4 percent (+/-0.7 percent) from last month, but were down 1.8 percent (+/-1.9 percent) from a year ago. Sales of lumber and other construction materials were up 1.4 percent from last month. Sales of nondurable goods were down 2.4 percent (+/-0.7 percent) from October and were down 7.2 percent (+/-2.1 percent) from last November. Sales of farm product raw materials were down 15 percent from last month and sales of petroleum and petroleum products were down 7.4 percent.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $582.9 billion at the end of November, down 0.3 percent (+/-0.4 percent) from the revised October level, but were up 2.2 percent (+/-1.6 percent) from the November 2014 level. The October preliminary estimate was revised downward $1 billion or 0.2 percent.

November inventories of durable goods were down 0.2 percent (+/-0.4 percent) from last month, but were up 1.3 percent (+/-1.4 percent) from a year ago. Inventories of metals and minerals, except petroleum were down 3 percent from last month. Inventories of nondurable goods were down 0.5 percent (+/-0.7 percent) from October, but were up 3.7 percent (+/-2.1 percent) from last November. Inventories of farm product raw materials were down 7.1 percent from last month and inventories of paper and paper products were down 1.3 percent.

The November inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.32.  The November 2014 ratio was 1.23.

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