The U.S. Census Bureau’s November wholesale trade report issued Jan. 10 showed little to no revision from its Dec. 29 advance report on the inventories front, with inventories holding at a -0.2% decrease from October.
Inventories of merchant wholesalers, except manufacturers’ sales branches and offices, seasonally adjusted, were valued at $896.2 billion at the end of November ($895.7B in advance) — down 0.2% from October’s revised level. Year-over-year, total inventories were down 3.0% (-3.1% in advance) from the revised November 2022 level.
Sales
The report said that November 2023 sales of merchant wholesalers were $666.6 billion, virtually unchanged from the revised October level, but up 0.5% from the revised November 2022 level. The September to October percent change was revised down from the advance estimate of -1.3% to -1.5%.
Inventories-to-Sales Ratio
The November inventories-to-sales ratio for merchant wholesalers was 1.34, identical to October and down from November 2022’s 1.39.
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