FOR WIRE TRANSMISSION 10:00 A.M. EST, Friday, December 13, 1996 MANUFACTURING AND TRADE INVENTORIES AND SALES -- OCTOBER 1996 Sales. The Census Bureau of the Department of Commerce announced today that the combined value of distributive trade sales and manufacturers' shipments for October adjusted for seasonal and trading-day differences, but not for price changes, were estimated at $724.2 billion, 0.2 percent (+/-0.1%) above September and 5.6 percent (+/-0.3%) above October 1995. Total durable goods were down 0.5 percent (+/-0.2%) from September but up 5.4 percent from October 1995. Total nondurable goods increased 0.9 percent (+/-0.2%) from September and 5.8 percent from October 1995. Inventories. Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1.0 trillion, 0.5 percent (+/-0.1%) above September and 2.0 percent (+/-0.3%) above October 1995. Total durable goods increased 0.3 percent (+/-0.2%) from September and were up 3.0 percent from October 1995. Total nondurable goods increased 0.7 percent (+/-0.1%) from September and 0.7 percent from October 1995. Inventories/Sales Ratio. The total business inventories/sales ratio based on seasonally adjusted data at the end of October was 1.40, up .01 from September but down .05 from October 1995. The Manufacturing and Trade Inventories and Sales Report for November is scheduled for release January 15, 1997 at 8:30 a.m. The scheduled release dates for 1997 are as follows: January 15, February 14, March 14, April 15, May 14, June 13, July 16, August 14, September 16, October 16, November 18, and December 12. Questions concerning this report may be directed to: Ms. Nancy Piesto (301) 457-2706/2708 ( Retailers), Ms. Kathy Menth (301) 457-4832 (Manufacturers), or Mr. Ronald Piencykoski (301) 457-2779/2764 (Wholesalers). Data in this release are adjusted for seasonal and other variations, but not for price changes, and are subject to revision. The data also appear in the following monthly Census Bureau publications: Current Industrial Reports (see M3 series for manufacturers data) and Current Business Reports (see BW series for merchant wholesalers and BR series for retailers data). October data were released December 6 for manufacturers and December 10 for merchant wholesalers. TABLE 1: ESTIMATED MONTHLY SALES, INVENTORIES, AND INVENTORY/SALES RATIOS FOR MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS OCTOBER 1996 Adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 Oct.(p) Sept.(r) Nov.(r) Oct.(r) SALES Total business.............. 724,240 722,691 690,540 685,638 Durable........................... 356,498 358,365 341,687 338,120 Nondurable........................ 367,742 364,326 348,853 347,518 Manufacturers................. 315,417 315,160 300,755 299,824 Durable........................... 168,826 170,705 161,360 160,706 Nondurable........................ 146,591 144,455 139,395 139,118 Retailers..................... 206,842 206,127 198,211 196,225 Durable........................... 84,456 84,189 80,381 79,059 Nondurable........................ 122,386 121,938 117,830 117,166 Merchant wholesalers.......... 201,981 201,404 191,574 189,589 Durable........................... 103,216 103,471 99,946 98,355 Nondurable........................ 98,765 97,933 91,628 91,234 INVENTORIES Total business.............. 1,011,352 1,006,430 993,644 991,142 Durable........................... 610,148 608,185 595,461 592,578 Nondurable........................ 401,204 398,245 398,183 398,564 Manufacturers................. 437,907 436,700 431,652 431,303 Durable........................... 277,014 276,347 270,389 269,971 Nondurable........................ 160,893 160,353 161,263 161,332 Retailers..................... 314,833 312,771 307,265 305,276 Durable........................... 169,401 167,916 163,243 161,723 Nondurable........................ 145,432 144,855 144,022 143,553 Merchant wholesalers.......... 258,612 256,959 254,727 254,563 Durable........................... 163,733 163,922 161,829 160,884 Nondurable........................ 94,879 93,037 92,898 93,679 INVENTORY/SALES RATIOS Total business.............. 1.40 1.39 1.44 1.45 Durable........................... 1.71 1.70 1.74 1.75 Nondurable........................ 1.09 1.09 1.14 1.15 Manufacturers................. 1.39 1.39 1.44 1.44 Durable........................... 1.64 1.62 1.68 1.68 Nondurable........................ 1.10 1.11 1.16 1.16 Retailers..................... 1.52 1.52 1.55 1.56 Durable........................... 2.01 1.99 2.03 2.05 Nondurable........................ 1.19 1.19 1.22 1.23 Merchant wholesalers.......... 1.28 1.28 1.33 1.34 Durable........................... 1.59 1.58 1.62 1.64 Nondurable........................ 0.96 0.95 1.01 1.03 Not adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 Oct.(p) Sept.(r) Oct. SALES Total business.............. 751,728 733,372 702,987 Durable........................... 372,150 370,396 348,763 Nondurable........................ 379,578 362,976 354,224 Manufacturers................. 323,892 335,330 308,358 Durable........................... 172,852 183,299 165,231 Nondurable........................ 151,040 152,031 143,127 Retailers..................... 208,549 197,365 193,987 Durable........................... 85,587 81,618 77,791 Nondurable........................ 122,962 115,747 116,196 Merchant wholesalers.......... 219,287 200,677 200,642 Durable........................... 113,711 105,479 105,741 Nondurable........................ 105,576 95,198 94,901 INVENTORIES Total business.............. 1,032,127 1,001,204 1,011,473 Durable........................... 612,753 601,016 594,975 Nondurable........................ 419,374 400,188 416,498 Manufacturers................. 438,779 435,970 432,338 Durable........................... 277,242 275,520 270,299 Nondurable........................ 161,537 160,450 162,039 Retailers..................... 332,907 313,259 322,741 Durable........................... 171,945 162,764 163,935 Nondurable........................ 160,962 150,495 158,806 Merchant wholesalers.......... 260,441 251,975 256,394 Durable........................... 163,566 162,732 160,741 Nondurable........................ 96,875 89,243 95,653 INVENTORY/SALES RATIOS Total business.............. 1.37 1.37 1.44 Durable........................... 1.65 1.62 1.71 Nondurable........................ 1.10 1.10 1.18 Manufacturers................. 1.35 1.30 1.40 Durable........................... 1.60 1.50 1.64 Nondurable........................ 1.07 1.06 1.13 Retailers..................... 1.60 1.59 1.66 Durable........................... 2.01 1.99 2.11 Nondurable........................ 1.31 1.30 1.37 Merchant wholesalers.......... 1.19 1.26 1.28 Durable........................... 1.44 1.54 1.52 Nondurable........................ 0.92 0.94 1.01 (p) Preliminary estimates. (r) Revised. TABLE 2: ESTIMATED MONTHLY RETAIL INVENTORIES -- OCTOBER 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Oct. 1996 from-- 1996 1995 1996 1995 Oct.(p) Sept.(r) Oct.(r) Sept. Oct. Retail inventories, total..... 314,833 312,771 305,276 +0.7 +3.1 Total (excl. auto group).. 224,859 223,513 218,868 +0.6 +2.7 Durable goods, total........ 169,401 167,916 161,723 +0.9 +4.7 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 21,898 21,938 21,230 -0.2 +3.1 55 Automotive dealers................ 89,974 89,258 86,408 +0.8 +4.1 57 Furniture, home furnishings, and equipment stores................. 24,923 24,630 24,421 +1.2 +2.1 Nondurable goods, total..... 145,432 144,855 143,553 +0.4 +1.3 53 General merchandise group stores.. 58,613 58,510 57,292 +0.2 +2.3 531 Dept. strs.(excl. leased depts.) 47,454 47,264 45,745 +0.4 +3.7 54 Food stores....................... 28,598 28,371 27,423 +0.8 +4.3 56 Apparel and accessory stores...... 22,935 22,732 23,964 +0.9 -4.3 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Oct. 1996 from-- 1996 1995 1996 1995 Oct.(p) Sept.(r) Oct. Sept. Oct. Retail inventories, total..... 332,907 313,259 322,741 +6.3 +3.1 Total (excl. auto group).. 246,284 230,718 239,558 +6.7 +2.8 Durable goods, total........ 171,945 162,764 163,935 +5.6 +4.9 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 21,679 21,455 20,996 +1.0 +3.3 55 Automotive dealers................ 86,623 82,541 83,183 +4.9 +4.1 57 Furniture, home furnishings, and equipment stores................. 27,515 25,394 26,888 +8.4 +2.3 Nondurable goods, total..... 160,962 150,495 158,806 +7.0 +1.4 53 General merchandise group stores.. 67,659 61,951 66,104 +9.2 +2.4 531 Dept. strs.(excl. leased depts.) 54,715 50,053 52,698 +9.3 +3.8 54 Food stores....................... 29,465 28,165 28,229 +4.6 +4.4 56 Apparel and accessory stores...... 26,054 24,300 27,175 +7.2 -4.1 (p)Preliminary estimates. (r)Revised. TABLE 3: ESTIMATED MONTHLY RETAIL SALES AND INVENTORIES/SALES RATIOS OCTOBER 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions code of Dollars 1996 1995 Oct.(p) Sept.(r) Nov.(r)Oct.(r) Retail trade, total........... 206,842 206,127 198,211 196,225 Total (excl. auto group).. 156,069 155,406 149,965 148,756 Durable goods, total........ 84,456 84,189 80,381 79,059 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 11,204 11,227 10,566 10,465 55 Automotive dealers................ 50,773 50,721 48,246 47,469 57 Furniture, home furnishings, and equipment stores................. 11,469 11,522 11,232 11,076 Nondurable goods, total..... 122,386 121,938 117,830 117,166 53 General merchandise group stores.. 25,990 25,897 24,772 24,621 531 Dept. strs.(excl. leased depts.) 20,257 20,200 19,363 19,173 54 Food stores....................... 35,748 35,705 34,563 34,457 56 Apparel and accessory stores...... 9,458 9,519 9,237 9,053 INVENTORY/SALES RATIOS Retail trade, total........... 1.52 1.52 1.55 1.56 Total (excl. auto group).. 1.44 1.44 1.47 1.47 Durable goods, total........ 2.01 1.99 2.03 2.05 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 1.95 1.95 2.01 2.03 55 Automotive dealers................ 1.77 1.76 1.80 1.82 57 Furniture, home furnishings, and equipment stores................. 2.17 2.14 2.23 2.20 Nondurable goods, total..... 1.19 1.19 1.22 1.23 53 General merchandise group stores.. 2.26 2.26 2.33 2.33 531 Dept. strs.(excl. leased depts.) 2.34 2.34 2.39 2.39 54 Food stores....................... 0.80 0.79 0.80 0.80 56 Apparel and accessory stores...... 2.42 2.39 2.59 2.65 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Inventory/ code of Sales Ratios Dollars 1996 1996 1996 Oct.(p) Sept.(r) Oct. Sept. Retail trade, total........... 208,549 197,365 1.60 1.59 Total (excl. auto group).. 156,656 147,999 1.57 1.56 Durable goods, total........ 85,587 81,618 2.01 1.99 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 12,148 11,508 1.78 1.86 55 Automotive dealers................ 51,893 49,366 1.67 1.67 57 Furniture, home furnishings, and equipment stores................. 11,450 10,990 2.40 2.31 Nondurable goods, total..... 122,962 115,747 1.31 1.30 53 General merchandise group stores.. 25,656 23,553 2.64 2.63 531 Dept. strs.(excl. leased depts.) 19,892 18,382 2.75 2.72 54 Food stores....................... 35,524 34,174 0.83 0.82 56 Apparel and accessory stores...... 9,506 9,008 2.74 2.70 (p) Preliminary estimates. (r) Revised. SOURCE: Manufacturing and Trade Inventories and Sales -- October 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).