The 2020 Mid-Year Economic Update_long

January Wholesale Revenues Down 1% YOY

Sales of durable goods down 5.8 percent from last January.

Wholesale revenues in January were $433.7 billion, down 3.1 percent from the revised December level and down 1 percent from January 2014, according to the U.S. Census Bureau.

January sales of durable goods were down 1.4 percent from last month, but were up 5.8 percent from a year ago. Sales of electrical and electronic goods were down 4.4 percent from last month and sales of metals and minerals, except petroleum were down 4.1 percent. Sales of nondurable goods were down 4.6 percent from December and down 6.7 percent from last January. Sales of petroleum and petroleum products were down 13.5 percent from last month and sales of drugs and druggists' sundries were down 3.6 percent.

Total inventories were $548.7 billion at the end of January, up 0.3 percent from the revised December level and up 6.2 percent from January 2014. January inventories of durable goods were up 0.6 percent from last month and up 7.7 percent from a year ago. Inventories of electrical and electronic goods were up 2.4 percent from last month and inventories of motor vehicle and motor vehicle parts and supplies were up 1.6 percent. Inventories of nondurable goods were down 0.1 percent from December, but were up 3.7 percent from last January. Inventories of farm product raw materials were down 4.6 percent from last month, while inventories of paper and paper products were up 3 percent.

The January inventories/sales ratio for merchant wholesalers was 1.27. The January 2014 ratio was 1.18.

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