- 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 December 9, 2016
Inventories at the wholesale level fell 0.4% (-0.4% y/y) during October following an unrevised 0.1% September rise. The advance report had indicated a 0.6% October decline. Inventories of durable goods declined 0.3% (-2.2% y/y) after a 0.3% fall. Motor vehicle inventories improved 0.3% (- 1.8% y/y), while furniture inventories rose 1.6% (3.0% y/y). Computer equipment stockpiles declined 0.3% (-0.6% y/y) and machinery inventories were off 1.0% (-1.4% y/y). Inventories of nondurable products fell 0.4% (+2.5% y/y) after a 1.1% jump. Petroleum inventories strengthened 1.9% (12.2% y/y) with higher prices, but chemical stockpiles fell 1.1% (-2.0% y/y). Apparel inventories rose 0.3% (-4.4% y/y).
Wholesale sales strengthened 1.4% (2.2% y/y) following a 0.4% increase. A 0.6% rise was expected in the Action Economics Forecast Survey. Nondurable goods sales improved 1.6% (1.9% y/y) as petroleum sales surged 6.6% (7.5% y/y) with higher prices. Chemical sales increased 2.4% (4.5% y/y), but apparel sales eased 0.1% (-2.9% y/y). Sales of durable goods improved 1.1% (2.5% y/y) as electrical product sales jumped 2.2% (4.3% y/y), and metals sales surged 2.0% (-0.9% y/y). Motor vehicle sales improved 0.1% (1.3% y/y), but computer equipment sales fell 2.3% (-5.8% y/y).
The inventory-to-sales ratio eased to 1.30, and remained lower than January's 1.37 peak. The durable goods ratio declined to 1.63 and was down y/y from 1.71.The machinery I/S ratio eased y/y to 2.99, while the motor vehicles ratio eased y/y to 1.75 from 1.80 last year. The computer industry's I/S ratio increased y/y to 0.85 from 0.81. In the nondurable goods sector, the I/S ratio of 1.00 was little changed y/y. The chemical sector's ratio of 1.19 was down sharply y/y. In the petroleum area, the I/S ratio of 0.43 compared to 0.32 two years ago.
The wholesale trade figures are available in Haver's USECON database. The Action Economic Survey results are contained in AS1REPNA.
|Wholesale Sector - NAICS Classification (%)||Oct||Sep||Aug||Y/Y||2015||2014||2013|
|I/S Ratio||1.30||1.32||1.33||1.33 (Oct. '15)||1.32||1.21||1.18|