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MONTHLY WHOLESALE TRADE SALES AND INVENTORIES
AUGUST 1997
Sales
August 1997 sales of merchant wholesalers, after adjustment for seasonal variation and trading-day differences but not for price changes, were $208.8 billion, down 1.1 percent (+/—0.5%) from the revised July level but were 3.0 percent (+/—0.7%) above August 1996. The July preliminary estimate was revised downward by $0.8 billion or 0.4 percent. August sales of durable goods decreased 2.0 percent (+/—0.6%) from July but were 4.5 percent (+/—2.0%) above August 1996. Compared to last month, sales of lumber and other construction materials were down 2.6 percent and motor vehicles and automotive equipment fell 2.4 percent. Among nondurable goods, paper and paper products increased 4.8 percent above July, while chemicals and allied products declined 4.3 percent from last month.
Inventories
Total inventories of merchant wholesalers, after adjustment for seasonal variation but not for price changes, were $264.8 billion at the end of August, up 1.0 percent (+/—0.3%) from the revised July level and 3.4 percent (+/—2.3%) above August 1996. The July preliminary estimate was revised downward by $0.1 billion or 0.1 percent. End-of-month inventories of durable goods wholesalers increased 0.3 percent (+/—0.3%) from last month and were 3.7 percent (+/—3.3%) above August 1996. Compared to last month, inventories of furniture and home furnishings increased 1.3 percent, while machinery equipment and supplies decreased 0.9 percent. End-of-month inventories of nondurable goods increased 2.0 percent (+/—0.5%) from July and were 2.7 percent (+/—2.3%) above last August. Compared to last month, inventories of paper and paper products rose 4.3 percent, while petroleum and petroleum products fell 1.7 percent.
Inventories/Sales Ratio
The August inventories/sales ratio for merchant wholesalers, based on seasonally adjusted data, was 1.27. The August 1996 ratio was 1.26.
Adjusted Estimated Monthly Sales,
Inventories, And Stock/Sales Ratios
Of Merchant Wholesalers: 1997 And 1996
(In millions of dollars)
1997 1997 1996 Jul Aug (p) Aug (r) Sales, total 211,041 208,774 202,719 Durable goods 110,498 108,266 103,639 Nondurable goods 100,543 100,508 99,080 Inventories, total 262,314 264,818 256,189 Durable goods 167,156 167,732 161,681 Nondurable goods 95,158 97,086 94,508 Stock/sales ratios, total 1.24 1.27 1.26 Durable goods 1.51 1.55 1.56 Nondurable goods 0.95 0.97 0.95
P!Preliminary estimate.
R"Revised.
October 8, 1997 U.S. Department of Commerce
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