7 September 2001, 18:10 US Wholesale Trade-OVERVIEW (part 2)
--US July wholesale inventories -0.7%; sales +0.6%
--US July wholesale inventory/sales ratio 1.32; June 1.33
--US June wholesale inventories revised to -0.4% from -0.2%
Washington, Sept. 7 (BridgeNews) - U.S. wholesale merchants reduced
inventories 0.7% in July, its steepest drop since September 1996. However,
sales by wholesalers during the month rose 0.6%, lowering the
stock-to-sales ratio to 1.32, from 1.33 in June.
The decline in wholesalers' inventories extends the revised 0.4%
decrease in June, the U.S. Department of Commerce announced.
Inventories were unchanged when compared with the year ago levels and
totaled $296.771 billion on an unadjusted basis.
The fall in July inventories was led by a 0.8% fall in durable goods
inventories. Stocks of electrical equipment slipped 3.8%, while machinery
inventories dropped 0.5%. However, inventories of autos and computer
equipment moved higher in July. Wholesalers' inventories of non-durable
goods fell 0.6%.
WHOLESALER SALES, RATIOS
The 0.6% increase in July wholesaler sales follows a revised 1.1% dip
in June. Sales were down 1.7% compared to a year ago.
For durable goods, the inventory-to-sales ratio fell to 1.60 in July
following 1.62 in June. For non-durable goods, the ratio of 1.02 was down
from the revised 1.04 in June.
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