The following is the unedited transcript of the news release from the U.S. Census Bureau of the Department of Commerce.


Sales.

The U.S. Census Bureau announced today that February 2008 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations, trading-day differences, and moving holidays, but not for price changes, were $377.4 billion, down 0.8 percent (+/-0.5%) from the revised January level, but were up 12.2 percent (+/-1.2%) from the February 2007 level. The January preliminary estimate was revised downward $0.9 billion or 0.2 percent. February sales of durable goods were down 1.7 percent (+/-0.8%) from last month, but were up 3.6 percent (+/-1.8%) from a year ago. Compared to last month, sales of furniture and home furnishings were down 4.6 percent and sales of metals and minerals, except petroleum, were down 4.1 percent.

Sales of nondurable goods were up 0.1 percent (+/-0.8%) from last month and were up 20.5 percent (+/-1.8%) from last year. Sales of petroleum and petroleum products were up 2.6 percent from last month, while sales of farm product raw materials were down 4.4 percent.

Inventories.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $421.9 billion at the end of February, up 1.1 percent (+/-0.3%) from the revised January level and were up 7.4 percent (+/-1.2%) from a year ago. The January preliminary estimate was revised upward $1.0 billion or 0.2 percent. End-of-month inventories of durable goods were up 0.7 percent (+/-0.5%) from last month and were up 2.5 percent (+/-1.2%) from last February. Inventories of metals and minerals, except petroleum, were up 2.1 percent from last month and inventories of professional and commercial equipment and supplies were up 1.5 percent.

End-of-month inventories of nondurable goods increased 1.8 percent (+/-0.5%) from January and were up 16.2 percent (+/-2.0%) compared to last February. Inventories of farm product raw materials were up 5.1 percent from last month and inventories of petroleum and petroleum products were up 2.6 percent.

Inventories/Sales Ratio.

The February inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.12. The February 2007 ratio was 1.17.


Available at:

http://www2.census.gov/wholesale/pdf/mwts/currentwhl.pdf