U.S. October Wholesale Inventories and Sales (Text)

The following is the text of the U.S. wholesale inventories report from the Commerce Department.

Sales

The U.S. Census Bureau announced today that October 2011 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 $406.0 billion, up 0.9 percent (+/-0.7) from the revised September level and were up 13.1 percent (+/-0.9%) from the October 2010 level. The September preliminary estimate was revised downward $0.8 billion or 0.2 percent. October sales of durable goods were down 0.1 percent (+/-1.2%)* from last month, but were up 12.4 percent (+/-1.4%) from a year ago. Sales of nondurable goods were up 1.7 percent (+/-1.1%) from September and were up 13.5 percent (+/-1.2%) from last October. Sales of farm product raw materials were up 11.7 percent from last month and sales of apparel, piece goods, and notions were up 2.2 percent.

Inventories

Total inventories of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations but not for price changes, were $470.2 billion at the end of October, up 1.6 percent (+/-0.4%) from the revised September level and were up 10.9 percent (+/-1.1%) from the October 2010 level. The September preliminary estimate was revised upward $0.8 billion or 0.2 percent. October inventories of durable goods were up 0.8 percent (+/-0.4%) from last month and were up 11.6 percent (+/-1.6%) from a year ago. Inventories of metals and minerals, except petroleum were up 1.8 percent from last month and inventories of electrical and electronic goods were up 1.3 percent. Inventories of nondurable goods were up 2.8 percent (+/-0.9%) from September and were up 9.8 percent (+/-1.6%) from last October. Inventories of farm product raw materials were up 14.4 percent from last month and inventories of petroleum and petroleum products were up 5.7 percent.

Data in this report are based on a sample and, therefore, are subject to sampling and nonsampling error. A discussion of the reliability of the estimates and general survey methodology can be found at: <http://www.census.gov/wholesale/www/how_surveys_are_collected/ monthly_methodology.html>.

Monthly Wholesale Trade for November is scheduled to be released January 10, 2012 at 10:00 a.m. EST.

*The 90 percent confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.

SOURCE: U.S. Commerce Department. http://www.census.gov/wholesale

To contact the reporter on this story: Chris Middleton in Washington at cmiddleton2@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net

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