The 2020 Mid-Year Economic Update_long

July Wholesale Revenues Up 0.7% from June

Sales of durable goods were up 8 percent year-over-year.

Wholesale revenues in July were $458.6 billion, up 0.7 percent from the revised June level and up 7.5 percent from the July 2013 level, according to the U.S. Census Bureau.

July sales of durable goods were up 0.4 percent from last month and up 8 percent from a year ago.  Sales of metals and minerals, except petroleum were up 4.5 percent from last month.  Sales of nondurable goods were up 1 percent from June and up 7.2 percent from last July. Sales of grocery and related products were up 2.9 percent from last month and sales of petroleum and petroleum products were up 2.6 percent.

Total inventories were $533.8 billion at the end of July, up 0.1 percent from the revised June level and up 7.9 percent from the July 2013 level.  July inventories of durable goods were up 0.3 percent from last month and up 8.4 percent from a year ago.

Inventories of hardware and plumbing and heating equipment and supplies were up 1.8 percent from last month, while inventories of computer and computer peripheral equipment and software were down 4 percent. Inventories of nondurable goods were virtually unchanged from June, but were up 7 percent from last July.

Inventories of farm product raw materials were down 8.2 percent from last month, while inventories of drugs and druggists' sundries were up 3.2 percent.

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

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