Recent Updates
- UK Regional: Weather Statistics by Region (Mar), Income & Tax by Region/City (2017)
- World Bank: Commodity Prices (Mar)
- J.P. Morgan Global Services Sector PMIs (Mar)
- US: Employment Situation (Mar)
- more updates...
Economy in Brief
U.S. Nonfarm Payrolls Collapse; Jobless Rate Surges by Almost One Point
The job market unwound during March...
U.S. Initial Claims for Unemployment Insurance Double to 6.6 Million
Initial jobless claims for unemployment insurance were 6.648 million (3,051% y/y) in the week ending March 28...
U.S. Light Vehicle Sales Tumble
Auto showrooms quiet as coronavirus flares up...
U.S. Factory Orders, Shipments & Inventories Ease Ahead of Coronavirus
Factory orders fell slightly (+0.1% y/y) during February...
U.S. Trade Deficit Continued to Narrow in February
The foreign trade deficit in goods and services fell significantly...
by Gerald D. Cohen February 1, 2019
Wholesale inventories increased 0.3% month-on-month (6.5% year-over-year) during November, following an upwardly revised 0.9% gain in October. The release of this data was delayed by the government shutdown.
Wholesale sales declined 0.6% during November (+4.0% y/y), the second consecutive monthly decline of this magnitude. October's reading was revised down from -0.2%. The Action Economics Forecast Survey looked for just a 0.1% decrease.
The inventory-to-sales (I/S) ratio at the wholesale level rose to 1.29, the fourth consecutive monthly gain. Still, the I/S ratio remains well below the cycle peak of 1.38 reached in February 2016.
The wholesale trade figures are available in Haver's USECON database. The expectations for sales are in the AS1REPNA database.
| Wholesale Sector - NAICS Classification (%) | Nov | Oct | Sep | Nov Y/Y | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Inventories | 0.3 | 0.9 | 0.7 | 6.5 | 3.6 | 2.2 | 1.3 |
| Sales | -0.6 | -0.6 | 0.1 | 4.0 | 7.4 | -1.3 | -4.9 |
| I/S Ratio | 1.29 | 1.28 | 1.27 | 1.26 (Nov '17) | 1.30 | 1.35 | 1.33 |
