- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller February 10, 2016
Inventories at the wholesale level ticked 0.1% lower (+1.8% y/y) during December following a 0.4% November decline, revised from -0.3%. The decline reflected a broad-based 0.3% fall (+0.5% y/y) in durable goods inventories. Lumber & construction materials inventories fell 1.5% (+0.4% y/y) while computer equipment declined 0.9% (4.8% y/y). Machinery inventories declined 0.5% (-1.0% y/y), but electrical equipment increased 1.0% (6.0% y/y). Nondurable goods inventories ticked 0.1% higher (+3.8% y/y) despite a 7.8% decline (-11.8% y/y) in petroleum. Chemical inventories gained 2.3% (4.1% y/y) and apparel increased 2.1% (15.1% y/y).
Wholesale sales declined 0.3% (-4.2% y/y) led by a 4.5% decline (-29.9% y/y) in petroleum. Excluding petroleum, wholesale sales fell 1.5% y/y. Apparel sales declined 4.5% (+1.6% y/y) and chemical sales were off 1.4% (-4.4% y/y). Grocery sales declined 1.1% (-2.8% y/y) but farm product sales increased 2.5% (-16.5% y/y). Durable goods sales rose 0.3% (-2.6% y/y). Motor vehicle & parts sales increased 2.5% (3.8% y/y) while machinery sales improved 0.4% (-3.1% y/y). Sales of electrical equipment declined 1.9% (-5.6% y/y).
The inventory-to-sales ratio held steady m/m at 1.32, but was elevated versus 1.24 twelve months earlier. The nondurable goods I/S ratio of 1.02 compared to 0.92 a year ago, and chemicals rose to 1.25 from 1.15. Apparel increased to 2.13 from 1.86 while petroleum rose y/y to 0.48 from 0.38. The durable goods I/S ratio rose to 1.64 from 1.58 in December 2014 as motor vehicle & parts improved to 1.74 from 1.61. Electrical equipment increased to 1.02 from 0.90, and machinery gained y/y to 2.85 from 2.79.
The wholesale trade figures are available in Haver's USECON database.
|Wholesale Sector - NAICS Classification (%)||Dec||Nov||Oct||Y/Y||2015||2014||2013|
|I/S Ratio||1.32||1.32||1.31||1.24 (Dec. '14)||1.30||1.20||1.18|