The 2020 Mid-Year Economic Update_long

August Wholesale Revenues Down 1% From July

The U.S. Census Bureau announced that August 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 $404.9 billion, down 1.0 percent from the revised July level, but up 13.4 percent from the August 2007 level.
 
The July preliminary estimate was revised downward $1.7 billion or 0.4 percent. August sales of durable goods were down 1.5 percent from last month, but were up 5.5 percent from a year ago. Compared to last month, sales of hardware, and plumbing and heating equipment and supplies were down 6.5 percent and sales of lumber and other construction materials were down 5.2 percent.
 
Sales of nondurable goods were down 0.6 percent ...

The U.S. Census Bureau announced that August 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 $404.9 billion, down 1.0 percent from the revised July level, but up 13.4 percent from the August 2007 level.
 
The July preliminary estimate was revised downward $1.7 billion or 0.4 percent. August sales of durable goods were down 1.5 percent from last month, but were up 5.5 percent from a year ago. Compared to last month, sales of hardware, and plumbing and heating equipment and supplies were down 6.5 percent and sales of lumber and other construction materials were down 5.2 percent.
 
Sales of nondurable goods were down 0.6 percent from last month, but were up 20.7 percent from last year. Sales of petroleum and petroleum products were down 2.1 percent from last month.
 
Inventories
Total inventories of merchant wholesalers, except manufacturers’sales branches and offices, after adjustment for seasonal variations but not for price changes, were $445.4 billion at the end of August, up 0.8 percent from the revised July level and were up 11.1 percent from a year ago. The July preliminary estimate was revised upward $0.6 billion or 0.1 percent.
 
End-of-month inventories of durable goods were up 1.4 percent from last month and were up 10.0 percent from last August. Inventories of metals and minerals, except petroleum, were up 3.3 percent and inventories of computer and computer peripheral equipment and software were up 2.1 percent. End-of-month inventories of nondurable goods decreased 0.1 percent from July, but were up 13.0 percent compared to last August.
 
Inventories of farm product raw materials were down 2.3 percent from last month, while inventories of grocery and related products were up 2.1 percent.
 
Inventories/Sales Ratio
The August inventories/sales ratio for merchant wholesalers, except manufacturers’sales branches and offices, based on seasonally adjusted data, was 1.10. The August 2007 ratio was 1.12.
 

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