May 2006 sales of merchant wholesalers, except manufacturers’ sales branches and offices were $325.5 billion, up 1.6 percent from the revised April level and were up 12.1 percent from the May 2005 level. May sales of durable goods increased 2.6 percent from last month and were up 10.9 percent from a year ago. Sales of metals and minerals, except petroleum, increased 4.6 percent from last month and sales of electrical and electrical goods increased 3.9 percent. May sales of nondurable goods increased 0.7 percent from last month and were up 13.3 percent from last year. Sales of paper and paper products grew 3.3 percent from last month.

Inventories. Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $375.8 billion at the end of May, up 0.8 percent from last month and were up 7.8 percent from a year ago. The April preliminary estimate was revised upward $1.4 billion or 0.4 percent. End-of-month inventories of durable goods increased 0.8 percent from April and were up 8.7 percent from last May. Inventories of metals and minerals, except petroleum, increased 2.9 percent from last month and inventories of furniture and home furnishings were up 2.7 percent. End-of-month inventories of nondurable goods increased 0.9 percent from April and were up 6.2 percent compared to last May.

Inventories/Sales Ratio. The May inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.15. The May 2005 ratio was 1.20.

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