FOR WIRE TRANSMISSION 10:00 A.M. EDT, Wednesday, August 14, 1996 MANUFACTURING AND TRADE INVENTORIES AND SALES SUMMARY--JUNE 1996 SALES The Census Bureau of the Department of Commerce announced today that the combined value of distributive trade sales and manufacturers' shipments for June adjusted for seasonal and trading-day differences, but not for price changes, were estimated at $711.5 billion, 0.5 percent (+/-0.1%) below May but 4.4 percent (+/-0.3%) above June 1995. Total durable goods decreased 0.5 percent from May but were up 5.2 percent from June 1995. Total nondurable goods decreased 0.5 percent from May but were up 3.7 percent from June 1995. INVENTORIES Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $997.5 billion, 0.1 percent (+/- 0.1%) above May and 2.4 percent (+/-0.3%) above June 1995. Total durable goods increased 0.2 percent from May and 3.2 percent from June 1995. Total nondurable goods decreased 0.2 percent from May but were up 1.3 percent from June 1995. INVENTORIES/SALES RATIO The total business inventories/sales ratio based on seasonally adjusted data at the end of June was 1.40, up .01 from May but down .03 from June 1995. The Manufacturing and Trade Inventories and Sales Report for July is scheduled for release September 16, 1996 at 10:00 a.m. TABLE 1: ESTIMATED MONTHLY SALES, INVENTORIES, AND INVENTORY/SALES RATIOS FOR MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS JUNE 1996 Adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 June(p) May(r) July(r) June(r) SALES Total business.............. 711,533 715,130 676,569 681,343 Durable........................... 352,561 354,193 330,691 335,073 Nondurable........................ 358,972 360,937 345,878 346,270 Manufacturers................. 308,175 311,203 293,901 296,877 Durable........................... 166,434 167,487 156,108 158,768 Nondurable........................ 141,741 143,716 137,793 138,109 Retailers..................... 204,546 205,669 195,513 196,107 Durable........................... 83,399 84,053 78,125 78,361 Nondurable........................ 121,147 121,616 117,388 117,746 Merchant wholesalers.......... 198,812 198,258 187,155 188,359 Durable........................... 102,728 102,653 96,458 97,944 Nondurable........................ 96,084 95,605 90,697 90,415 INVENTORIES Total business.............. 997,486 996,984 977,660 973,914 Durable........................... 598,784 597,661 582,346 580,478 Nondurable........................ 398,702 399,323 395,314 393,436 Manufacturers................. 434,128 434,220 426,722 424,293 Durable........................... 274,101 273,857 266,482 264,343 Nondurable........................ 160,027 160,363 160,240 159,950 Retailers..................... 304,623 303,930 299,041 300,369 Durable........................... 161,989 161,156 156,810 158,042 Nondurable........................ 142,634 142,774 142,231 142,327 Merchant wholesalers.......... 258,735 258,834 251,897 249,252 Durable........................... 162,694 162,648 159,054 158,093 Nondurable........................ 96,041 96,186 92,843 91,159 INVENTORY/SALES RATIOS Total business.............. 1.40 1.39 1.45 1.43 Durable........................... 1.70 1.69 1.76 1.73 Nondurable........................ 1.11 1.11 1.14 1.14 Manufacturers................. 1.41 1.40 1.45 1.43 Durable........................... 1.65 1.64 1.71 1.66 Nondurable........................ 1.13 1.12 1.16 1.16 Retailers..................... 1.49 1.48 1.53 1.53 Durable........................... 1.94 1.92 2.01 2.02 Nondurable........................ 1.18 1.17 1.21 1.21 Merchant wholesalers.......... 1.30 1.31 1.35 1.32 Durable........................... 1.58 1.58 1.65 1.61 Nondurable........................ 1.00 1.01 1.02 1.01 Not adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 June(p) May(r) June SALES Total business.............. 731,740 735,085 715,491 Durable........................... 370,546 365,967 360,637 Nondurable........................ 361,194 369,118 354,854 Manufacturers................. 330,270 314,342 318,461 Durable........................... 181,756 169,746 173,342 Nondurable........................ 148,514 144,596 145,119 Retailers..................... 206,313 215,410 202,575 Durable........................... 86,981 91,386 85,403 Nondurable........................ 119,332 124,024 117,172 Merchant wholesalers.......... 195,157 205,333 194,455 Durable........................... 101,809 104,835 101,892 Nondurable........................ 93,348 100,498 92,563 INVENTORIES Total business.............. 986,252 998,097 963,996 Durable........................... 597,507 604,418 579,739 Nondurable........................ 388,745 393,679 384,257 Manufacturers................. 432,003 437,820 422,801 Durable........................... 272,609 276,629 263,281 Nondurable........................ 159,394 161,191 159,520 Retailers..................... 300,273 302,956 296,030 Durable........................... 162,567 163,815 158,718 Nondurable........................ 137,706 139,141 137,312 Merchant wholesalers.......... 253,976 257,321 245,165 Durable........................... 162,331 163,974 157,740 Nondurable........................ 91,645 93,347 87,425 INVENTORY/SALES RATIOS Total business.............. 1.35 1.36 1.35 Durable........................... 1.61 1.65 1.61 Nondurable........................ 1.08 1.07 1.08 Manufacturers................. 1.31 1.39 1.33 Durable........................... 1.50 1.63 1.52 Nondurable........................ 1.07 1.11 1.10 Retailers..................... 1.46 1.41 1.46 Durable........................... 1.87 1.79 1.86 Nondurable........................ 1.15 1.12 1.17 Merchant wholesalers.......... 1.30 1.25 1.26 Durable........................... 1.59 1.56 1.55 Nondurable........................ 0.98 0.93 0.94 TABLE 2: ESTIMATED MONTHLY RETAIL INVENTORIES -- JUNE 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars June 1996 from-- 1996 1995 1996 1995 June(p) May(r) June(r) May June Retail inventories, total..... 304,623 303,930 300,369 +0.2 +1.4 Total (excl. auto group).. 219,729 219,755 215,574 0.0 +1.9 Durable goods, total........ 161,989 161,156 158,042 +0.5 +2.5 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 21,913 21,459 20,458 +2.1 +7.1 55 Automotive dealers................ 84,894 84,175 84,795 +0.9 +0.1 57 Furniture, home furnishings, and equipment stores................. 24,579 24,987 23,514 -1.6 +4.5 Nondurable goods, total..... 142,634 142,774 142,327 -0.1 +0.2 53 General merchandise group stores.. 57,220 57,078 56,525 +0.2 +1.2 531 Dept. strs.(excl. leased depts.) 46,270 46,034 44,780 +0.5 +3.3 54 Food stores....................... 27,922 28,006 27,012 -0.3 +3.4 56 Apparel and accessory stores...... 22,568 22,506 24,109 +0.3 -6.4 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars June 1996 from-- 1996 1995 1996 1995 June(p) May(r) June May June Retail inventories, total..... 300,273 302,956 296,030 -0.9 +1.4 Total (excl. auto group).. 213,457 215,382 209,317 -0.9 +2.0 Durable goods, total........ 162,567 163,815 158,718 -0.8 +2.4 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 22,329 22,382 20,847 -0.2 +7.1 55 Automotive dealers................ 86,816 87,574 86,713 -0.9 +0.1 57 Furniture, home furnishings, and equipment stores................. 23,645 24,087 22,644 -1.8 +4.4 Nondurable goods, total..... 137,706 139,141 137,312 -1.0 +0.3 53 General merchandise group stores.. 54,605 55,504 53,896 -1.6 +1.3 531 Dept. strs.(excl. leased depts.) 44,049 44,791 42,586 -1.7 +3.4 54 Food stores....................... 27,547 27,587 26,652 -0.1 +3.4 56 Apparel and accessory stores...... 21,552 21,763 23,000 -1.0 -6.3 TABLE 3: ESTIMATED MONTHLY RETAIL SALES AND INVENTORIES/SALES RATIOS JUNE 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions code of Dollars 1996 1995 June(p) May(r) July(r) June(r) Retail trade, total........... 204,546 205,669 195,513 196,107 Total (excl. auto group).. 155,082 155,351 148,514 148,835 Durable goods, total........ 83,399 84,053 78,125 78,361 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 11,475 11,025 10,349 10,260 55 Automotive dealers................ 49,464 50,318 46,999 47,272 57 Furniture, home furnishings, and equipment stores................. 11,415 11,428 10,673 10,734 Nondurable goods, total..... 121,147 121,616 117,388 117,746 53 General merchandise group stores.. 25,660 25,929 25,038 24,980 531 Dept. strs.(excl. leased depts.) 19,972 20,228 19,487 19,389 54 Food stores....................... 35,072 35,014 34,175 34,105 56 Apparel and accessory stores...... 9,527 9,573 9,117 9,219 INVENTORY/SALES RATIOS Retail trade, total........... 1.49 1.48 1.53 1.53 Total (excl. auto group).. 1.42 1.41 1.45 1.45 Durable goods, total........ 1.94 1.92 2.01 2.02 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 1.91 1.95 1.99 1.99 55 Automotive dealers................ 1.72 1.67 1.78 1.79 57 Furniture, home furnishings, and equipment stores................. 2.15 2.19 2.20 2.19 Nondurable goods, total..... 1.18 1.17 1.21 1.21 53 General merchandise group stores.. 2.23 2.20 2.26 2.26 531 Dept. strs.(excl. leased depts.) 2.32 2.28 2.30 2.31 54 Food stores....................... 0.80 0.80 0.80 0.79 56 Apparel and accessory stores...... 2.37 2.35 2.62 2.62 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Inventory/ code of Sales Ratios Dollars 1996 1996 1996 June(p) May(r) June May Retail trade, total........... 206,313 215,410 1.46 1.41 Total (excl. auto group).. 153,373 159,154 1.39 1.35 Durable goods, total........ 86,981 91,386 1.87 1.79 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 12,727 13,143 1.75 1.70 55 Automotive dealers................ 52,940 56,256 1.64 1.56 57 Furniture, home furnishings, and equipment stores................. 10,766 10,886 2.20 2.21 Nondurable goods, total..... 119,332 124,024 1.15 1.12 53 General merchandise group stores.. 24,546 25,608 2.22 2.17 531 Dept. strs.(excl. leased depts.) 18,953 19,844 2.32 2.26 54 Food stores....................... 35,329 36,427 0.78 0.76 56 Apparel and accessory stores...... 8,916 9,386 2.42 2.32 (p) Preliminary estimates. (r) Revised. SOURCE: Manufacturing and Trade Inventories and Sales -- June 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).