The 2020 Mid-Year Economic Update_long

October Wholesale Revenues Down 3.7% YOY

Sales of durable goods down 2.2 percent from last October.

Wholesale revenues in October were $448 billion, unchanged from the revised September level, but down 3.7 percent from October 2014, according to the U.S. Census Bureau.

October sales of durable goods were down 0.8 percent from last month and were down 2.2 percent from a year ago. Sales of motor vehicle and motor vehicle parts and supplies were down 2.6 percent from last month. Sales of nondurable goods were up 0.7 percent from September, but were down 5.1 percent from last October. Sales of petroleum and petroleum products were up 2.9 percent from last month and sales of paper and paper products were up 1.5 percent.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $585.9 billion at the end of October, down 0.1 percent from the revised September level, but were up 3.6 percent from the October 2014 level.

October inventories of durable goods were down 0.1 percent from last month, but were up 2.5 percent from a year ago. Inventories of metals and minerals, except petroleum were down 1.1 percent from last month, while inventories of electrical and electronic goods were up 0.6 percent.

Inventories of nondurable goods were down 0.1 percent from September, but were up 5.4 percent from last October. Inventories of farm product raw materials were down 5.2 percent from last month, while inventories of paper and paper products were up 1.6 percent.

The October inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.31. The October 2014 ratio was 1.22.

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