- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
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|