The 2020 Mid-Year Economic Update_long

Wholesale Revenues Inch Up in June

Year-over-year, sales are down 21%; inventories are down 10.3%.
June 2009 wholesale revenues were $313.1 billion, up 0.4% from the revised May level, but down 21.0% from the June 2008 level. The May preliminary estimate was revised upward $0.8 billion or 0.2%.
 
June sales of durable goods were up 0.7% from last month, but were down 22.9% from a year ago. Sales of motor vehicle and motor vehicle parts and supplies were up 4.5% from last month.
 
Sales of nondurable goods were up 0.1% from May levels, but were down 19.4% from last year. Sales of petroleum and petroleum products were up 7.1% from last month, while sales of drugs and duggists’ sundries were down 4.7%.
 
Total inventories were $393.9 billion at the end of June, down 1.7% from the revised May level and down 10.3% from a year ago. End-of-month inventories of durable goods were down 1.5% from last month and down 10.4% from last June. Inventories of metals and minerals, except petroleum, were down 6.2% and inventories of lumber and other construction materials were down 2.5%. End-of-month inventories of nondurable goods were down 2.0% from May and down 10.2% compared to last June.
 
The June inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.26. The June 2008 ratio was 1.11.

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