U.S. wholesale inventories decreased by 0.2 percent from May to a seasonally adjusted $481.91 billion, the U.S. Census Bureau said Thursday.
Wholesalers' sales dipped to $402.9 billion in June, down 1.4 percent from a revised May level, but were up 3.1 percent from June 2011, the Commerce Department agency said in a release.
Sales of petroleum and petroleum products were down 5.3 percent while sales of farm product raw materials were off 2.8 percent, the bureau said.
June sales of durable goods were down 0.7 percent from the previous month, but were up 5.7 percent from a year ago. Sales of machinery, equipment, and supplies were down 2.8 percent from May.
Sales of non-durable goods were off 1.9 percent from May, but up 0.9 percent from last June.
While inventories decreased from May to June, they were up 5.3 percent from the June 2011 level, statistics indicated.
Lower levels were reported for inventories of petroleum and petroleum products, which the Census Bureau said were down 8.7 percent in June from from from May.
Inventories of beer, wine and distilled alcoholic beverages also were down 2.3 percent.
June inventories of durable goods were up 0.2 percent from May.
Inventories of hardware, and plumbing and heating equipment and supplies were up 1.8 percent from May.
Inventories of non-durable goods were down 0.8 percent from May.
The June inventories-to-sales ratio for wholesalers, seasonally adjusted, was 1.20, the bureau said. The June 2011 ratio was 1.17.
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 30, 2014
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