November 2005 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 $311.7 billion, down 0.7 percent from the revised October level and were up 8.3percent from the November 2004 level. November sales of durable goods decreased 0.5 percent from last month, but were up 6.8 percent from a year ago. November sales of nondurable goods were down 1.0 percent from last month, but were up 9.8 percent from last year. Compared to last month, sales of petroleum and petroleum products were down 7.0 percent, while sales of drugs and druggists’ sundries were up 1.7 percent.
Inventories
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $358.6 billion at the end of November, up 0.4 percent from last month and were up 5.9 percent from a year ago. The October preliminary estimate was revised upward $0.2 billion or 0.1 percent. End-of-month inventories of durable goods increased 0.6 percent from October and were up 6.5 percent from last November. Inventories of machinery, equipment, and supplies increased 1.5 percent from last month, while inventories of computer and computer peripheral equipment and software decreased 1.7 percent.
Inventories/Sales Ratio
The November inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.15. The November 2004 ratio was 1.18.
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