wmeubank@ocp.kcmo.com
Sales
March 1997 sales of merchant wholesalers, after adjustment for
seasonal variation and trading-day differences but not for price
changes, were $209.9 billion, down 0.9 percent (+/<196>0.6%) from
the revised February level but up 6.4 percent (+/<196>1.5%) from
March 1996. The February preliminary estimate was revised downward
by $0.3 billion or 0.1 percent. March sales of durable goods
declined 1.7 percent (+/<196>1.1%) from February but were 4.2
percent (+/<196>2.9%) above March 1996. Compared to last month,
sales of machinery, equipment and supplies were down 6.2 percent to
$15.1 billion and metals and minerals, except petroleum, fell 4.8
percent to $8.4 billion. Among nondurable goods, sales of farm-
product raw materials decreased 9.0 percent from last month to $9.1
billion, while sales of groceries and related products increased
2.3 percent to $28.0 billion.
Inventories
Total inventories of merchant wholesalers, after adjustment for
seasonal variation but not for price changes, were $259.9 billion
at the end of March, up 0.7 percent (+/<196>0.4%) from the revised
February level and 2.3 percent (+/<196>2.9%) above March 1996. The
February preliminary estimate was revised downward by $0.3 billion
or 0.1 percent. End-of-month inventories of durable goods
wholesalers increased 0.9 percent (+/<196>0.5%) from last month and
were 2.4 percent (+/<196>4.4%) above March 1996. Compared to last
month, inventories of motor vehicles and automotive equipment
increased 3.2 percent to $27.5 billion, while furniture and home
furnishings declined 2.9 percent to $5.0 billion. Among nondurable
goods, inventories of drugs, drug proprietaries and druggists'
sundries increased 2.5 percent from last month to $14.1 billion.
Inventories of petroleum and petroleum products declined 4.5
percent from last month to $5.3 billion.
Inventories/Sales Ratio
The March inventories/sales ratio for merchant wholesalers, based
on seasonally adjusted data, was 1.24. The March 1996 ratio was
1.29.
Adjusted Estimated Monthly Sales,
Inventories, And Stock/Sales Ratios
Of Merchant Wholesalers: 1996 And 1995
(In millions of dollars)
| 1997Feb | 1997 Mar.(p) | 1996 Mar.(r) | |
|---|---|---|---|
| Sales, total | 211,801 | 209,876 | 197,334 |
| *Durable goods | 108,562 | 106,717 | 102,421 |
| *Nondurable goods | 103,239 | 103,159 | 94,913 |
| Inventories, total | 258,088 | 259,887 | 254,151 |
| *Durable goods | 162,997 | 164,505 | 160,700 |
| *Nondurable goods | 95,091 | 95,382 | 93,451 |
| Stock/sales ratios, total | 1.22 | 1.24 | 1.29 |
| *Durable goods | 1.50 | 1.54 | 1.57 |
| *Nondurable goods | 0.92 | 0.92 | 0.98 |
P!Preliminary estimate.
R"Revised.
May 7, 1997
U.S. Department of Commerce
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