FOR WIRE TRANSMISSION 10:00 A.M. EDT, Friday, April 12,1996 MANUFACTURING AND TRADE INVENTORIES AND SALES SUMMARY--FEBRUARY 1996 SALES The Census Bureau of the Department of Commerce announced today that the combined value of distributive trade sales and manufacturers' shipments for February adjusted for seasonal and trading-day differences, but not for price changes, were estimated at $701.2 billion, 1.1 percent (+/- 0.1%) above January but 3.9 percent (+/-0.4%) above February 1995. Total durable goods increased 1.7 percent from January but were 4.4 percent above February 1995. Within the durable goods category, retailers, wholesalers, and manufacturers increased 9.8, 3.6, and 2.2 percent, respectively, from February 1995. Total nondurable goods increased 3.4 percent (+/-0.4%) from February 1995. INVENTORIES Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $983.1 billion, 0.1 percent (+/- 0.1%) above January and 5.1 percent (+/-0.2%) above February 1995. Total durable goods were up 0.1 percent (+/-0.3%) percent from February 1995. Total nondurable goods were up 0.1 percent from February 1995. INVENTORIES/SALES RATIO The total business inventories/sales ratio based on seasonally adjusted data at the end of February was 1.40, down .02 from January and up .01 from February 1995. The Manufacturing and Trade Inventories and Sales Report for March 1996 is scheduled for release May 15, 1996 at 10:00 a.m. TABLE 1: ESTIMATED MONTHLY SALES, INVENTORIES, AND INVENTORY/SALES RATIOS FOR MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS FEBRUARY 1996 Adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 Feb.(p) Jan.(r) Mar.(r) Feb.(r) SALES Total business.............. 701,218 693,424 675,345 675,047 Durable........................... 348,324 342,486 334,733 333,801 Nondurable........................ 352,894 350,938 340,612 341,246 Manufacturers................. 303,971 301,417 298,437 298,556 Durable........................... 164,743 162,126 161,571 161,206 Nondurable........................ 139,228 139,291 136,866 137,350 Retailers..................... 202,894 199,129 192,980 191,035 Durable........................... 83,078 80,623 76,845 75,629 Nondurable........................ 119,816 118,506 116,135 115,406 Merchant wholesalers.......... 194,353 192,878 183,928 185,456 Durable........................... 100,503 99,737 96,317 96,966 Nondurable........................ 93,850 93,141 87,611 88,490 INVENTORIES Total business.............. 983,113 981,945 941,779 935,012 Durable........................... 591,657 590,928 563,537 559,072 Nondurable........................ 391,456 391,017 378,242 375,940 Manufacturers................. 422,276 421,317 402,081 399,726 Durable........................... 267,240 266,530 253,237 252,124 Nondurable........................ 155,036 154,787 148,844 147,602 Retailers..................... 305,081 304,370 297,033 295,501 Durable........................... 161,687 161,316 155,992 154,155 Nondurable........................ 143,394 143,054 141,041 141,346 Merchant wholesalers.......... 255,756 256,258 242,665 239,785 Durable........................... 162,730 163,082 154,308 152,793 Nondurable........................ 93,026 93,176 88,357 86,992 INVENTORY/SALES RATIOS Total business.............. 1.40 1.42 1.39 1.39 Durable........................... 1.70 1.73 1.68 1.67 Nondurable........................ 1.11 1.11 1.11 1.10 Manufacturers................. 1.39 1.40 1.35 1.34 Durable........................... 1.62 1.64 1.57 1.56 Nondurable........................ 1.11 1.11 1.09 1.07 Retailers..................... 1.50 1.53 1.54 1.55 Durable........................... 1.95 2.00 2.03 2.04 Nondurable........................ 1.20 1.21 1.21 1.22 Merchant wholesalers.......... 1.32 1.33 1.32 1.29 Durable........................... 1.62 1.64 1.60 1.58 Nondurable........................ 0.99 1.00 1.01 0.98 Not adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 Feb.(p) Jan.(r) Feb. SALES Total business.............. 667,866 632,666 627,686 Durable........................... 333,871 306,961 312,477 Nondurable........................ 333,995 325,705 315,209 Manufacturers................. 301,743 271,814 295,576 Durable........................... 165,262 143,456 160,976 Nondurable........................ 136,481 128,358 134,600 Retailers..................... 181,732 174,839 163,989 Durable........................... 74,397 69,646 64,613 Nondurable........................ 107,335 105,193 99,376 Merchant wholesalers.......... 184,391 186,013 168,121 Durable........................... 94,212 93,859 86,888 Nondurable........................ 90,179 92,154 81,233 INVENTORIES Total business.............. 984,227 976,922 935,625 Durable........................... 594,565 588,153 561,562 Nondurable........................ 389,662 388,769 374,063 Manufacturers................. 424,134 419,188 401,729 Durable........................... 268,943 265,160 253,603 Nondurable........................ 155,191 154,028 148,126 Retailers..................... 300,323 295,770 290,573 Durable........................... 162,699 160,138 154,936 Nondurable........................ 137,624 135,632 135,637 Merchant wholesalers.......... 259,770 261,964 243,323 Durable........................... 162,923 162,855 153,023 Nondurable........................ 96,847 99,109 90,300 INVENTORY/SALES RATIOS Total business.............. 1.47 1.54 1.49 Durable........................... 1.78 1.92 1.80 Nondurable........................ 1.17 1.19 1.19 Manufacturers................. 1.41 1.54 1.36 Durable........................... 1.63 1.85 1.58 Nondurable........................ 1.14 1.20 1.10 Retailers..................... 1.65 1.69 1.77 Durable........................... 2.19 2.30 2.40 Nondurable........................ 1.28 1.29 1.36 Merchant wholesalers.......... 1.41 1.41 1.45 Durable........................... 1.73 1.74 1.76 Nondurable........................ 1.07 1.08 1.11 (p) Preliminary estimates. (r) Revised. TABLE 2: ESTIMATED MONTHLY RETAIL INVENTORIES-- FEBRUARY 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Feb. 1996 from-- 1996 1995 1996 1995 Feb.(p) Jan.(r) Feb.(r) Jan. Feb. Retail trade, total........... 305,081 304,370 295,501 +0.2 +3.2 Total (excl. auto group).. 218,212 217,122 212,798 +0.5 +2.5 Durable goods, total........ 161,687 161,316 154,155 +0.2 +4.9 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 20,842 20,912 20,034 -0.3 +4.0 55 Automotive dealers................ 86,869 87,248 82,703 -0.4 +5.0 57 Furniture, home furnishings, and equipment stores................. 24,667 23,964 22,555 +2.9 +9.4 Nondurable goods, total..... 143,394 143,054 141,346 +0.2 +1.4 53 General merchandise group stores.. 57,440 57,583 56,263 -0.2 +2.1 531 Dept. strs.(excl. leased depts.) 46,047 45,956 44,362 +0.2 +3.8 54 Food stores....................... 27,789 27,687 26,924 +0.4 +3.2 56 Apparel and accessory stores...... 23,117 23,261 24,147 -0.6 -4.3 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Feb. 1996 from-- 1996 1995 1996 1995 Feb.(p) Jan.(r) Feb. Jan. Feb. Retail trade, total........... 300,323 295,770 290,573 +1.5 +3.4 Total (excl. auto group).. 210,304 207,013 205,021 +1.6 +2.6 Durable goods, total........ 162,699 160,138 154,936 +1.6 +5.0 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 20,946 20,347 20,154 +2.9 +3.9 55 Automotive dealers................ 90,019 88,757 85,552 +1.4 +5.2 57 Furniture, home furnishings, and equipment stores................. 23,656 23,389 21,608 +1.1 +9.5 Nondurable goods, total..... 137,624 135,632 135,637 +1.5 +1.5 53 General merchandise group stores.. 54,041 52,884 52,907 +2.2 +2.1 531 Dept. strs.(excl. leased depts.) 43,514 42,234 41,922 +3.0 +3.8 54 Food stores....................... 27,442 27,787 26,595 -1.2 +3.2 56 Apparel and accessory stores...... 21,776 20,772 22,771 +4.8 -4.4 (p)Preliminary estimates. (r)Revised. Table 3: ESTIMATED MONTHLY RETAIL SALES AND INVENTORIES/SALES RATIOS FEBRUARY 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions code of Dollars 1996 1995 Feb(p) Jan(r) Mar(r) Feb(r) Retail trade, total........... 202,894 199,129 192,980 191,035 Total (excl. auto group).. 151,642 150,040 147,000 146,196 Durable goods, total........ 83,078 80,623 76,845 75,629 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 10,378 10,241 10,550 10,450 55 Automotive dealers................ 51,252 49,089 45,980 44,839 57 Furniture, home furnishings, and equipment stores................. 11,054 10,989 10,478 10,494 Nondurable goods, total..... 119,816 118,506 116,135 115,406 53 General merchandise group stores.. 25,461 24,834 24,426 24,146 531 Dept. strs.(excl. leased depts.) 19,881 19,402 18,911 18,795 54 Food stores....................... 34,804 35,020 33,849 33,960 56 Apparel and accessory stores...... 9,589 9,212 9,256 9,042 INVENTORY/SALES RATIOS Retail trade, total........... 1.50 1.53 1.54 1.55 Total (excl. auto group).. 1.44 1.45 1.45 1.46 Durable goods, total........ 1.95 2.00 2.03 2.04 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 2.01 2.04 1.93 1.92 55 Automotive dealers................ 1.69 1.78 1.83 1.84 57 Furniture, home furnishings, and equipment stores................. 2.23 2.18 2.16 2.15 Nondurable goods, total..... 1.20 1.21 1.21 1.22 53 General merchandise group stores.. 2.26 2.32 2.28 2.33 531 Dept. strs.(excl. leased depts.) 2.32 2.37 2.31 2.36 54 Food stores....................... 0.80 0.79 0.79 0.79 56 Apparel and accessory stores...... 2.41 2.53 2.64 2.67 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Inventory/ code of Sales Ratios Dollars 1996 1996 1996 Feb(p) Jan(r) Feb Jan Retail trade, total........... 181,732 174,839 1.65 1.69 Total (excl. auto group).. 133,880 131,644 1.57 1.57 Durable goods, total........ 74,397 69,646 2.19 2.30 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 8,108 7,983 2.58 2.55 55 Automotive dealers................ 47,852 43,195 1.88 2.05 57 Furniture, home furnishings, and equipment stores................. 9,841 10,153 2.40 2.30 Nondurable goods, total..... 107,335 105,193 1.28 1.29 53 General merchandise group stores.. 20,386 18,514 2.65 2.86 531 Dept. strs.(excl. leased depts.) 15,706 14,144 2.77 2.99 54 Food stores....................... 32,672 33,681 0.84 0.83 56 Apparel and accessory stores...... 7,329 6,472 2.97 3.21 (p) Preliminary estimates. (r) Revised. SOURCE: Manufacturing and Trade Inventories and Sales--February 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).