Merchant Wholesaler Sales Fell in January, Inventories Rose

Washington, DC, March 9, 2016—January 2016 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 $433.1 billion, down 1.3% from the revised December level and were down 3.1% from the January 2015 level, according to the U.S. Census Bureau.

The December preliminary estimate was revised downward $1.0 billion or 0.2%. January sales of durable goods were down 1.9% from last month and were down 3.4% from a year ago.

Sales of computer and computer peripheral equipment and software were down 6.4% from last month and sales of furniture and home furnishings were down 5.3%.

Sales of nondurable goods were down 0.8% from December and were down 2.8% from last January.

Sales of petroleum and petroleum products were down 6.9% from last month.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $584.2 billion at the end of January, up 0.3% from the revised December level and were up 2.0% from the January 2015 level.

The December preliminary estimate was revised upward $0.6 billion or 0.1%. January inventories of durable goods were down 0.3% from last month and were down 0.4% from a year ago. Inventories of electrical and electronic goods were down 3.6 %from last month, while inventories of motor vehicle and motor vehicle parts and supplies were up 1.5%. Inventories of nondurable goods were up 1.1% from December and were up 5.9% from last January. Inventories of paper and paper products were up 4.2% from last month and inventories of drugs and druggists' sundries were up 3.3%.

The January inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.35. The January 2015 ratio was 1.28.