- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- 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 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|