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

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Aug. 9 (Bloomberg) -- The following is the text of the wholesale inventories report from the Commerce Department.

Sales. The U.S. Census Bureau announced today that June 2012 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 $402.9 billion, down 1.4 percent from the revised May level, but were up 3.1 percent from the June 2011 level. The May preliminary estimate was revised downward $1.1 billion or 0.3 percent June sales of durable goods were down 0.7 percent from last month, but were up 5.7 percent from a year ago. Sales of machinery, equipment, and supplies were down 2.8 percent from last month. Sales of nondurable goods were down 1.9 percent from May, but were up 0.9 percent from last June. Sales of petroleum and petroleum products were down 5.3 percent from last month and sales of farm product raw materials were down 2.8 percent.

Inventories. Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $481.9 billion at the end of June, down 0.2 percent from the revised May level, but were up 5.3 percent from the June 2011 level.The May preliminary estimate was revised downward $1.4 billion or 0.3 percent. June inventories of durable goods were up 0.2 percent from last month and were up 9.1 percent from a year ago. Inventories of hardware, and plumbing and heating equipment and supplies were up 1.8 percent from last month. Inventories of nondurable goods were down 0.8 percent from May, but were up 0.2 percent from last June. Inventories of petroleum and petroleum products were down 8.7 percent from last month and inventories of beer, wine and distilled alcoholic beverages were down 2.3 percent.

Inventories/Sales Ratio. The June inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.20. The June 2011 ratio was 1.17.

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

To contact the reporter on this story: Kristy Scheuble in Washington at kmckeaney@bloomberg.net

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