November 2008 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $349.2 billion, down 7.1 percent from the revised October level and were down 7.6 percent from the November 2007 level, according to the U.S. Census Bureau.
The October preliminary estimate was revised downward $1.3 billion or 0.4 percent. November sales of durable goods were down 6.1 percent from last month and were down 9.4 percent from a year ago. Compared to last month, sales of motor vehicle and motor vehicle parts and supplies were down 10.6 percent and sales of electrical and electronic goods were down 8.8 percent. Sales of nondurable goods were down 7.9 percent from last month and were down 6.1 percent from last year. Sales of petroleum and petroleum products were down 25.1 percent from last month and sales of chemicals and allied products were down 5.0 percent.
Inventories. Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $435.0 billion at the end of November, down 0.6 percent from the revised October level, but were up 6.3 percent from a year ago. The October preliminary estimate was revised downward $0.5 billion or 0.1 percent. End-of-month inventories of durable goods were down 0.1 percent from last month, but were up 9.2 percent from last November. Inventories of lumber and other construction materials were down 2.3 percent from last month, while inventories of motor vehicle and motor vehicle parts and supplies were up 1.2 percent. End-of-month inventories of nondurable goods decreased 1.5 percent from October, but increased 1.6 percent compared to last November. Inventories of petroleum and petroleum products were down 6.2 percent from last month and inventories of chemicals and allied products were down 4.4 percent.
Inventories/Sales Ratio. The November inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.25. The November 2007 ratio was 1.08.
