Economic Trends
U.S. Wholesale Revenues Declines Accelerated in June
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, also declined during the month.
The U.S. Census Bureau announced the seasonally adjusted quarterly after-tax profits for manufacturing industries statistics for the first quarter of 2022, and wholesale trade has seen a rise from 4Q 2021 to the first quarter of 2022.
According to data released Aug. 8 by the U.S. Census Bureau, June 2023 sales of merchant wholesalers — except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes — were $643.3 billion, down 0.7% from the revised May level, and were down 6.7% from the revised June 2022 level.
The April 2023 to May 2023 percent change was revised from the preliminary estimate of down 0.2% to down 0.5%.
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Total inventories of merchant wholesalers — except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences, but not for price changes — were $905.2 billion at the end of June, down 0.5% from the revised May level. Total inventories were up 1.3% from the revised June 2022 level.
The May 2023 to June 2023 percent change was revised from the advance estimate of down 0.3% to down 0.5%.
The June inventories/sales ratio for merchant wholesalers — except manufacturers’ sales branches and offices, based on seasonally adjusted data — was 1.41. The May 2022 ratio was 1.30.
