The U.S. Census Bureau has announced the February 2016 sales of merchant wholesalers, with the exception of manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes. The number came out to $427.6 billion, down roughly 0.2% from the revised January level, and down 3.1% from the February 2015 level. Bloomberg had a consensus estimate of −0.5%.
The January preliminary estimate was revised downward 0.2%. February sales of durable goods were up 1.2% from last month and up 0.2% from a year ago. Sales of electrical and electronic goods were up 3.1% from last month, and sales of lumber and other construction materials were up 2.9%.
Sales of nondurable goods were down 1.6% from January and down 6.2% from last February. Sales of petroleum and petroleum products were down 10.1% from last month, and sales of farm product raw materials were down 2.0%.
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, totaled $583.3 billion at the end of February, down 0.5% from the revised January level, but were up 0.6% from the February 2015 level.
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The January preliminary estimate was revised downward $2.1 billion, or 0.4%. February inventories of durable goods were down 0.1% from last month and down 1.3% from a year ago. Inventories of lumber and other construction materials were down 1.6% from last month, while inventories of electrical and electronic goods were up 2.0%.
Inventories of nondurable goods were down 1.1% from January, but were up 3.7% from last February. Inventories of farm product raw materials were down 4.2% from last month and inventories of drugs and druggists’ sundries were down 3.5%.
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