The 2020 Mid-Year Economic Update_long

May Wholesale Revenues Up 0.7% from April

Sales of durable goods grew 0.2 percent.

Wholesale revenues in May were $453.2 billion, up 0.7 percent from the revised April level and up 6.6 percent from May 2013, according to the U.S. Census Bureau.

May sales of durable goods were up 0.2 percent from last month and were up 5.9 percent from a year ago. Sales of metals and minerals, except petroleum, were up 3.2 percent from last month, while sales of computer and computer peripheral equipment and software were down 1.6 percent.

Sales of nondurable goods were up 1.1 percent from April and up 7.2 percent from last May. Sales of farm product raw materials were up 6.6 percent from last month and sales of apparel, piece goods, and notions were up 2 percent.

Total inventories of merchant wholesalers were $532.7 billion at the end of May, up 0.5 percent from the revised April level and up 7.9 percent from the May 2013 level. The April preliminary estimate was revised downward $0.5 billion or 0.1 percent.

May inventories of durable goods were up 1 percent from last month and up 8.5 percent from a year ago. Inventories of metals and minerals, except petroleum, were up 2.1 percent from last month and inventories of motor vehicle and motor vehicle parts and supplies were up 1.9 percent. Inventories of farm product raw materials were down 3.2 percent from last month, while inventories of petroleum and petroleum products were up 2 percent.

The May inventories/sales ratio for merchant wholesalers was 1.18.  The May 2013 ratio was 1.16.

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