- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller April 8, 2016
Inventories at the wholesale level declined 0.5% during February (+0.5% y/y) following a 0.2% January drop, revised from +0.3%. The shortfall reflected a 1.1% decline (+3.7% y/y) in the nondurable goods sector, despite a 1.5% rise (-9.6% y/y) in petroleum inventories. Farm-product inventories fell 4.2% (-7.3% y/y) while apparel inventories were off 1.3% (+9.6% y/y). To the upside, grocery & related product inventories rose 0.9% (4.4% y/y). In the durable goods area, inventories eased 0.1% (-1.3% y/y) as motor vehicle inventories fell 1.0% (+5.5% y/y). Furniture & home furnishing inventories remained unchanged (+6.6% y/y) while electrical product inventories rose 2.0% (-0.6% y/y).
Wholesale sector sales eased 0.2% (+0.7% y/y), down for the fourth straight month. Nondurable goods sales declined 1.6% (-2.4% y/y) as petroleum & petroleum product sales dropped 10.1% (-32.8% y/y) with lower prices. Paper product sales declined 1.4% (+9.8% y/y), but apparel sales gained 1.7% (11.2% y/y). Durable goods sales recovered 1.2% (4.2% y/y) as furniture & home furnishings sales rebounded 2.3% (8.9% y/y). Electrical equipment sales recovered 3.1% (6.4% y/y), but machinery sales declined 1.4% (+4.8% y/y).
The wholesale trade inventory-to-sales ratio eased to 1.36, but remained near the highest level of the economic expansions. The nondurable I/S ratio held at a record 1.05 as the petroleum ratio remained in record territory at 0.57. The ratio in the apparel sector of 2.14 was increased slightly y/y, and the chemicals ratio at 1.29 remained elevated. The I/S ratio in the durable goods sector eased to 1.69, down slightly from last year's high. The 3.05 machinery ratio was steady as was the ratio of 1.04 in electrical goods.
The wholesale trade figures are available in Haver's USECON database.
|Wholesale Sector - NAICS Classification (%)||Feb||Jan||Dec||Y/Y||2015||2014||2013|
|I/S Ratio||1.36||1.37||1.34||1.31 (Feb. '15)||1.30||1.20||1.18|