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Economy

Wholesale Trade Posts Larger Than Expected Gain

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By Chris Lange Published
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Wholesale trade figures for the month of August were released by the U.S. Department of Commerce Thursday morning. The reading came out at 0.7%, beating the Bloomberg estimate of 0.3%. The previous reading was revised to 0.3% from 0.1%.

The total sales for merchant wholesalers were recorded at $453.9 billion and inventories read at $538 billion. Sales for durable goods were up 0.1% from the previous month, and up 7% from August of 2013. Inventories for durable goods were up 0.8% from the previous month and 8.5% on the year. Sales of metals and minerals, except petroleum, were up 1.6% from the previous month.

Sales of nondurable goods were down 1.3% from July, but they were up 4.7% from August 2013. Inventories for nondurable goods were up 0.5% from the previous month and 6.9% on the year. Petroleum and petroleum products were down 4.2%, and farm product raw materials were down 3.8% from the previous month. Inventories of drugs and druggists’ sundries were up 1.6% from July.

Based on seasonally adjusted data for the month of August, the inventories to sales ratio for merchant wholesalers was 1.19 compared to the previous year of 1.16.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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