FOR WIRE TRANSMISSION 10:00 A.M. EST, Thursday March 21,1996 MANUFACTURING AND TRADE INVENTORIES AND SALES SUMMARY--JANUARY 1996 INTENTION TO REVISE: Revisions to the adjusted and unadjusted monthly estimates for sales and inventories are scheduled for release as follows: Retail the week of March 25, Wholesale the week of April 1 and Manufacturing at a later date. SALES The Census Bureau of the Department of Commerce announced today that the combined value of distributive trade sales and manufacturers' shipments for January adjusted for seasonal and trading-day differences, but not for price changes, were estimated at $695.6 billion, 0.6 percent (+/- 0.2%) below December but 3.2 percent (+/-0.3%) above January 1995. Total durable goods decreased 1.4 percent from December but were 3.1 percent above January 1995. Within the durable goods category, wholesalers, retailers, and manufacturers increased 5.0, 4.8, and 1.2 percent, respectively, from January 1995. Total nondurable goods increased 3.3 percent (+/-0.4%) from January 1995. INVENTORIES Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $982.6 billion, 0.6 percent (+/- 0.1%) above December and 5.8 percent (+/-0.4%) above January 1995. Total durable goods were up 6.6 percent from January 1995. Total nondurable goods were up 4.6 percent from January 1995. INVENTORIES/SALES RATIO The total business inventories/sales ratio based on seasonally adjusted data at the end of January was 1.41, up .01 from December and up .03 from January 1995. The Manufacturing and Trade Inventories and Sales Report for February is scheduled for release April 12, 1996 at 10:00 a.m. TABLE 1: ESTIMATED MONTHLY SALES, INVENTORIES, AND INVENTORY/SALES RATIOS FOR MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS JANUARY 1996 Adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 Jan.(p) Dec.(r) Feb.(r) Jan.(r) SALES Total business.............. 695,635 699,876 675,196 674,166 Durable........................... 345,107 350,018 335,006 334,681 Nondurable........................ 350,528 349,858 340,190 339,485 Manufacturers................. 303,166 305,907 298,556 297,790 Durable........................... 162,965 165,946 161,206 161,079 Nondurable........................ 140,201 139,961 137,350 136,711 Retailers..................... 199,472 199,771 191,584 193,735 Durable........................... 80,711 81,220 76,069 76,988 Nondurable........................ 118,761 118,551 115,515 116,747 Merchant wholesalers.......... 192,997 194,198 185,056 182,641 Durable........................... 101,431 102,852 97,731 96,614 Nondurable........................ 91,566 91,346 87,325 86,027 INVENTORIES Total business.............. 982,649 977,259 936,091 928,922 Durable........................... 590,682 586,402 559,230 554,320 Nondurable........................ 391,967 390,857 376,861 374,602 Manufacturers................. 421,504 418,527 399,726 396,104 Durable........................... 266,270 263,916 252,124 250,251 Nondurable........................ 155,234 154,611 147,602 145,853 Retailers..................... 303,597 303,091 296,000 294,419 Durable........................... 159,738 159,640 153,826 152,648 Nondurable........................ 143,859 143,451 142,174 141,771 Merchant wholesalers.......... 257,548 255,641 240,365 238,399 Durable........................... 164,674 162,846 153,280 151,421 Nondurable........................ 92,874 92,795 87,085 86,978 INVENTORY/SALES RATIOS Total business.............. 1.41 1.40 1.39 1.38 Durable........................... 1.71 1.68 1.67 1.66 Nondurable........................ 1.12 1.12 1.11 1.10 Manufacturers................. 1.39 1.37 1.34 1.33 Durable........................... 1.63 1.59 1.56 1.55 Nondurable........................ 1.11 1.10 1.07 1.07 Retailers..................... 1.52 1.52 1.55 1.52 Durable........................... 1.98 1.97 2.02 1.98 Nondurable........................ 1.21 1.21 1.23 1.21 Merchant wholesalers.......... 1.33 1.32 1.30 1.31 Durable........................... 1.62 1.58 1.57 1.57 Nondurable........................ 1.01 1.02 1.00 1.01 Not adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 Jan.(p) Dec.(r) Jan. SALES Total business.............. 635,361 727,873 607,660 Durable........................... 309,785 352,794 296,593 Nondurable........................ 325,576 375,079 311,067 Manufacturers................. 273,845 302,720 268,357 Durable........................... 144,403 167,609 142,687 Nondurable........................ 129,442 135,111 125,670 Retailers..................... 175,227 238,235 167,495 Durable........................... 69,764 87,052 64,892 Nondurable........................ 105,463 151,183 102,603 Merchant wholesalers.......... 186,289 186,918 171,808 Durable........................... 95,618 98,133 89,014 Nondurable........................ 90,671 88,785 82,794 INVENTORIES Total business.............. 977,412 964,510 924,052 Durable........................... 587,814 578,380 551,468 Nondurable........................ 389,598 386,130 372,584 Manufacturers................. 419,165 408,504 394,792 Durable........................... 264,823 256,895 248,914 Nondurable........................ 154,342 151,609 145,878 Retailers..................... 294,920 298,518 285,688 Durable........................... 158,533 160,575 151,223 Nondurable........................ 136,387 137,943 134,465 Merchant wholesalers.......... 263,327 257,488 243,572 Durable........................... 164,458 160,910 151,331 Nondurable........................ 98,869 96,578 92,241 INVENTORY/SALES RATIOS Total business.............. 1.54 1.33 1.52 Durable........................... 1.90 1.64 1.86 Nondurable........................ 1.20 1.03 1.20 Manufacturers................. 1.53 1.35 1.47 Durable........................... 1.83 1.53 1.74 Nondurable........................ 1.19 1.12 1.16 Retailers..................... 1.68 1.25 1.71 Durable........................... 2.27 1.84 2.33 Nondurable........................ 1.29 0.91 1.31 Merchant wholesalers.......... 1.41 1.38 1.42 Durable........................... 1.72 1.64 1.70 Nondurable........................ 1.09 1.09 1.11 (p) Preliminary estimates. (r) Revised. SOURCE: Manufacturing and Trade Inventories and Sales-- January 1996 (Press Release available without charge from Public Information Office, Bureau of the Census, Washington, D.C. 20233). Questions concerning this report may be directed to: Ms. Kathy Menth (301) 457-4832 (Manufacturers), Ms. Nancy Piesto (301) 457-2706/2708 (Retailers), or Mr. Ronald Piencykoski (301) 457-2779/2764 (Merchant Wholesalers). TABLE 2: ESTIMATED MONTHLY RETAIL INVENTORIES-- JANUARY 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Jan. 1996 from-- 1996 1995 1995 1995 Jan.(p) Dec.(r) Jan.(r) Dec. Jan. Retail trade, total........... 303,597 303,091 294,419 +0.2 +3.1 Total (excl. auto group).. 217,675 218,035 213,705 -0.2 +1.9 Durable goods, total........ 159,738 159,640 152,648 +0.1 +4.6 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 21,212 21,437 20,855 -1.0 +1.7 55 Automotive dealers................ 85,922 85,056 80,714 +1.0 +6.5 57 Furniture, home furnishings, and equipment stores................. 24,770 24,930 23,101 -0.6 +7.2 Nondurable goods, total..... 143,859 143,451 141,771 +0.3 +1.5 53 General merchandise group stores.. 58,901 58,800 56,658 +0.2 +4.0 531 Dept. strs.(excl. leased depts.) 47,111 47,134 44,750 0.0 +5.3 54 Food stores....................... 27,596 27,630 26,796 -0.1 +3.0 56 Apparel and accessory stores...... 22,843 22,690 23,635 +0.7 -3.4 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Jan. 1996 from-- 1996 1995 1995 1995 Jan.(p) Dec.(r) Jan. Dec. Jan. Retail trade, total........... 294,920 298,518 285,688 -1.2 +3.2 Total (excl. auto group).. 207,586 210,785 203,791 -1.5 +1.9 Durable goods, total........ 158,533 160,575 151,223 -1.3 +4.8 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 20,618 20,644 20,271 -0.1 +1.7 55 Automotive dealers................ 87,334 87,733 81,897 -0.5 +6.6 57 Furniture, home furnishings, and equipment stores................. 24,250 25,279 22,616 -4.1 +7.2 Nondurable goods, total..... 136,387 137,943 134,465 -1.1 +1.4 53 General merchandise group stores.. 54,095 54,401 52,078 -0.6 +3.9 531 Dept. strs.(excl. leased depts.) 43,295 43,552 41,170 -0.6 +5.2 54 Food stores....................... 27,719 28,273 26,896 -2.0 +3.1 56 Apparel and accessory stores...... 20,353 20,761 21,082 -2.0 -3.5 (p)Preliminary estimates. (r)Revised. SOURCE: Manufacturing and Trade Inventories and Sales-- January 1996 (Press Release available without charge from Public Information Office, Bureau of the Census, Washington, D.C. 20233). Questions concerning this report may be directed to: Ms. Kathy Menth (301) 457-4832 (Manufacturers), Ms. Nancy Piesto (301) 457-2706/2708 (Retailers), or Mr. Ronald Piencykoski (301) 457-2779/2764 (Merchant Wholesalers). TABLE 3: ESTIMATED MONTHLY RETAIL SALES AND INVENTORIES/SALES RATIOS JANUARY 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions code of Dollars 1996 1995 Jan(p) Dec(r) Feb(r) Jan(r) Retail trade, total........... 199,472 199,771 191,584 193,735 Total (excl. auto group).. 150,006 150,345 146,000 147,534 Durable goods, total........ 80,711 81,220 76,069 76,988 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 10,246 10,555 10,379 10,483 55 Automotive dealers................ 49,466 49,426 45,584 46,201 57 Furniture, home furnishings, and equipment stores................. 11,006 11,222 10,492 10,671 Nondurable goods, total..... 118,761 118,551 115,515 116,747 53 General merchandise group stores.. 24,777 24,717 24,114 24,570 531 Dept. strs.(excl. leased depts.) 19,375 19,284 18,742 18,997 54 Food stores....................... 35,085 34,717 33,759 34,219 56 Apparel and accessory stores...... 9,145 9,135 9,069 9,250 INVENTORY/SALES RATIOS Retail trade, total........... 1.52 1.52 1.55 1.52 Total (excl. auto group).. 1.45 1.45 1.47 1.45 Durable goods, total........ 1.98 1.97 2.02 1.98 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 2.07 2.03 1.97 1.99 55 Automotive dealers................ 1.74 1.72 1.80 1.75 57 Furniture, home furnishings, and equipment stores................. 2.25 2.22 2.24 2.16 Nondurable goods, total..... 1.21 1.21 1.23 1.21 53 General merchandise group stores.. 2.38 2.38 2.38 2.31 531 Dept. strs.(excl. leased depts.) 2.43 2.44 2.42 2.36 54 Food stores....................... 0.79 0.80 0.80 0.78 56 Apparel and accessory stores...... 2.50 2.48 2.60 2.56 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Inventory/ code of Sales Ratios Dollars 1996 1995 1996 1995 Jan(p) Dec(r) Jan Dec Retail trade, total........... 175,227 238,235 1.68 1.25 Total (excl. auto group).. 131,665 195,349 1.58 1.08 Durable goods, total........ 69,764 87,052 2.27 1.84 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 7,958 9,553 2.59 2.16 55 Automotive dealers................ 43,562 42,886 2.00 2.05 57 Furniture, home furnishings, and equipment stores................. 10,170 15,901 2.38 1.59 Nondurable goods, total..... 105,463 151,183 1.29 0.91 53 General merchandise group stores.. 18,523 42,663 2.92 1.28 531 Dept. strs.(excl. leased depts.) 14,144 33,920 3.06 1.28 54 Food stores....................... 33,706 37,869 0.82 0.75 56 Apparel and accessory stores...... 6,480 15,171 3.14 1.37 (p) Preliminary estimates. (r) Revised. SOURCE: Manufacturing and Trade Inventories and Sales-- January 1996 (Press Release available without charge from Public Information Office, Bureau of the Census, Washington, D.C. 20233). Questions concerning this report may be directed to: Ms. Kathy Menth (301) 457-4832 (Manufacturers), Ms. Nancy Piesto (301) 457-2706/2708 (Retailers), or Mr. Ronald Piencykoski (301) 457-2779/2764 (Merchant Wholesalers).