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MONTHLY WHOLESALE TRADE SALES AND INVENTORIES
SEPTEMBER 1997
Sales
September 1997 sales of merchant wholesalers, after adjustment for seasonal variation and trading-day differences but not for price changes, were $213.1 billion, up 2.3 percent (+/—0.8%) from the revised August level but were 4.7 percent (+/—1.1%) above September 1996. The August preliminary estimate was revised downward by $0.4 billion or 0.2 percent. September sales of durable goods increased 2.8 percent (+/—1.1%) from August and were 6.1 percent (+/—2.5%) above last September. Compared to last month, sales of furniture and home furnishings increased 6.4 percent, and motor vehicles and automotive equipment grew 5.6 percent. September sales of nondurable goods increased 1.7 percent (+/—0.8%) from last month and were 3.4 percent (+/—2.7%) above September 1996. Compared to last month, sales of farm-product raw materials increased 15.8 percent while paper and paper products rose 4.4 percent.
Inventories
Total inventories of merchant wholesalers, after adjustment for seasonal variation but not for price changes, were $268.0 billion at the end of September, up 1.2 percent (+/—0.4%) from the revised August level and 5.3 percent (+/—2.5%) above September 1996. The August preliminary estimate was revised upward by 0.1 billion or 0.03 percent. End-of-month inventories of durable goods wholesalers increased 1.3 percent (+/—0.5%) from last month and were 4.9 percent (+/—3.6%) above September 1996. Compared to last month, inventories of professional and commercial equipment and supplies increased 3.0 percent, and machinery, equipment, and supplies rose 1.8 percent. End-of-month inventories of nondurable goods increased 1.0 percent (+/—0.5%) from August and were 5.9 percent (+/—2.5%) above last September. Compared to last month, inventories of petroleum and petroleum products increased 4.2 percent, while paper and paper products fell 1.2 percent.
Inventories/Sales Ratio
The September inventories/sales ratio for merchant wholesalers, based on seasonally adjusted data, was 1.26. The September 1996 ratio was 1.25.
Adjusted Estimated Monthly Sales,
Inventories, And Stock/Sales Ratios
Of Merchant Wholesalers: 1997 And 1996
(In millions of dollars)
1997 1997 1996 Aug Sept (p) Sept (r) Sales, total 208,336 213,093 203,437 Durable goods 107,759 110,764 104,426 Nondurable goods 100,577 102,329 99,011 Inventories, total 264,899 268,043 254,654 Durable goods 167,917 170,123 162,185 Nondurable goods 96,982 97,920 92,469 Stock/sales ratios, total 1.27 1.26 1.25 Durable goods 1.56 1.54 1.55 Nondurable goods 0.96 0.96 0.93
P–Preliminary estimate.
R–Revised.
November 7, 1997 U.S. Department of Commerce
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