FOR WIRE TRANSMISSION 8:30 A.M. EST, Friday, March 14, 1997 MANUFACTURING AND TRADE INVENTORIES AND SALES -- JANUARY 1997 *********************************************************************** 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 Aril 28, Wholesale the week of May 5, 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 $735.9 billion, 1.2 percent (+/-0.4%) above December and 6.6 percent (+/-0.6%) above January 1996. Total durable goods increased 1.1 percent (+/-0.7%) from December and were up 6.6 percent (+/-0.8%) from January 1996. Total nondurable goods increased 1.3 percent (+/-0.4%) from December and were up 6.6 percent (+/-0.7%) from January 1996. INVENTORIES Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,011 billion, 0.1 percent (+/-0.1%) above December and 1.6 percent (+/-0.4%) above January 1996. Total durable goods increased 0.1 percent (+/-0.2%) from December and were up 1.9 percent (+/-0.7%) from January 1996. Total nondurable goods increased 0.1 percent (+/-0.2%) from December and were up 1.3 percent (+/-0.5%) from January 1996. INVENTORIES/SALES RATIO The total business inventories/sales ratio based on seasonally adjusted data at the end of January was 1.37, down .02 from December and down .07 from January 1996. The Manufacturing and Trade Inventories and Sales Report for February is scheduled for release April 15, 1997 at 8:30 a.m. TABLE 1: ESTIMATED MONTHLY SALES, INVENTORIES, AND INVENTORY/SALES RATIOS FOR MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS JANUARY 1997 Adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1997 1996 1996 1996 Jan.(p) Dec.(r) Feb.(r) Jan.(r) SALES Total business.............. 735,934 727,432 698,656 690,498 Durable........................... 361,701 357,900 345,454 339,394 Nondurable........................ 374,233 369,532 353,202 351,104 Manufacturers................. 318,688 315,278 301,763 298,685 Durable........................... 170,763 168,719 161,918 159,125 Nondurable........................ 147,925 146,559 139,845 139,560 Retailers..................... 211,456 208,319 202,840 199,132 Durable........................... 86,179 84,945 83,043 80,556 Nondurable........................ 125,277 123,374 119,797 118,576 Merchant wholesalers.......... 205,790 203,835 194,053 192,681 Durable........................... 104,759 104,236 100,493 99,713 Nondurable........................ 101,031 99,599 93,560 92,968 INVENTORIES Total business.............. 1,011,110 1,009,741 996,008 994,821 Durable........................... 607,693 606,887 597,612 596,392 Nondurable........................ 403,417 402,854 398,396 398,429 Manufacturers................. 438,148 437,922 435,615 434,724 Durable........................... 277,527 276,439 273,400 272,657 Nondurable........................ 160,621 161,483 162,215 162,067 Retailers..................... 312,161 313,713 304,824 303,912 Durable........................... 165,523 167,115 161,575 160,866 Nondurable........................ 146,638 146,598 143,249 143,046 Merchant wholesalers.......... 260,801 258,106 255,569 256,185 Durable........................... 164,643 163,333 162,637 162,869 Nondurable........................ 96,158 94,773 92,932 93,316 INVENTORY/SALES RATIOS Total business.............. 1.37 1.39 1.43 1.44 Durable........................... 1.68 1.70 1.73 1.76 Nondurable........................ 1.08 1.09 1.13 1.13 Manufacturers................. 1.37 1.39 1.44 1.46 Durable........................... 1.63 1.64 1.69 1.71 Nondurable........................ 1.09 1.10 1.16 1.16 Retailers..................... 1.48 1.51 1.50 1.53 Durable........................... 1.92 1.97 1.95 2.00 Nondurable........................ 1.17 1.19 1.20 1.21 Merchant wholesalers.......... 1.27 1.27 1.32 1.33 Durable........................... 1.57 1.57 1.62 1.63 Nondurable........................ 0.95 0.95 0.99 1.00 Not adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1997 1996 1996 Jan.(p) Dec.(r) Jan. SALES Total business.............. 674,689 759,383 630,915 Durable........................... 324,990 364,436 305,021 Nondurable........................ 349,699 394,947 325,894 Manufacturers................. 288,696 311,489 270,063 Durable........................... 151,799 170,432 141,516 Nondurable........................ 136,897 141,057 128,547 Retailers..................... 187,555 246,423 174,839 Durable........................... 75,016 91,505 69,646 Nondurable........................ 112,539 154,918 105,193 Merchant wholesalers.......... 198,438 201,471 186,013 Durable........................... 98,175 102,499 93,859 Nondurable........................ 100,263 98,972 92,154 INVENTORIES Total business.............. 1,006,495 995,742 990,976 Durable........................... 605,913 598,303 594,710 Nondurable........................ 400,582 397,439 396,266 Manufacturers................. 436,670 428,193 433,242 Durable........................... 276,575 269,306 271,717 Nondurable........................ 160,095 158,887 161,525 Retailers..................... 303,935 308,795 295,770 Durable........................... 164,750 167,631 160,138 Nondurable........................ 139,185 141,164 135,632 Merchant wholesalers.......... 265,890 258,754 261,964 Durable........................... 164,588 161,366 162,855 Nondurable........................ 101,302 97,388 99,109 INVENTORY/SALES RATIOS Total business.............. 1.49 1.31 1.57 Durable........................... 1.86 1.64 1.95 Nondurable........................ 1.15 1.01 1.22 Manufacturers................. 1.51 1.37 1.60 Durable........................... 1.82 1.58 1.92 Nondurable........................ 1.17 1.13 1.26 Retailers..................... 1.62 1.25 1.69 Durable........................... 2.20 1.83 2.30 Nondurable........................ 1.24 0.91 1.29 Merchant wholesalers.......... 1.34 1.28 1.41 Durable........................... 1.68 1.57 1.74 Nondurable........................ 1.01 0.98 1.08 (p) Preliminary estimates. (r) Revised. TABLE 2: ESTIMATED MONTHLY RETAIL INVENTORIES -- JANUARY 1997 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Jan. 1997 from-- 1997 1996 1996 1996 1996 Jan.(p) Dec.(r) Jan.(r) Dec. Jan. Retail inventories, total..... 312,161 313,713 303,912 -0.5 +2.7 Total (excl. auto group).. 224,679 225,500 217,373 -0.4 +3.4 Durable goods, total........ 165,523 167,115 160,866 -1.0 +2.9 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 22,310 22,446 20,998 -0.6 +6.2 55 Automotive dealers................ 87,482 88,213 86,539 -0.8 +1.1 57 Furniture, home furnishings, and equipment stores................. 23,859 23,592 24,013 +1.1 -0.6 Nondurable goods, total..... 146,638 146,598 143,046 0.0 +2.5 53 General merchandise group stores.. 57,609 58,147 57,532 -0.9 +0.1 531 Dept. strs.(excl. leased depts.) 46,938 47,316 45,956 -0.8 +2.1 54 Food stores....................... 28,902 28,937 27,689 -0.1 +4.4 56 Apparel and accessory stores...... 23,429 23,321 23,313 +0.5 +0.5 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Jan. 1997 from-- 1997 1996 1996 1996 1996 Jan.(p) Dec.(r) Jan. Dec. Jan. Retail inventories, total..... 303,935 308,795 295,770 -1.6 +2.8 Total (excl. auto group).. 214,073 217,698 207,013 -1.7 +3.4 Durable goods, total........ 164,750 167,631 160,138 -1.7 +2.9 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 21,618 21,683 20,347 -0.3 +6.2 55 Automotive dealers................ 89,862 91,097 88,757 -1.4 +1.2 57 Furniture, home furnishings, and equipment stores................. 23,215 23,663 23,389 -1.9 -0.7 Nondurable goods, total..... 139,185 141,164 135,632 -1.4 +2.6 53 General merchandise group stores.. 52,975 53,967 52,884 -1.8 +0.2 531 Dept. strs.(excl. leased depts.) 43,136 43,862 42,234 -1.7 +2.1 54 Food stores....................... 29,004 29,663 27,787 -2.2 +4.4 56 Apparel and accessory stores...... 20,875 21,222 20,772 -1.6 +0.5 (p)Preliminary estimates. (r)Revised. TABLE 3: ESTIMATED MONTHLY RETAIL SALES AND INVENTORIES/SALES RATIOS JANUARY 1997 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions code of Dollars 1997 1996 1996 1996 Jan.(p) Dec.(r) Feb.(r) Jan.(r) Retail trade, total........... 211,456 208,319 202,840 199,132 Total (excl. auto group).. 159,359 157,218 152,000 150,165 Durable goods, total........ 86,179 84,945 83,043 80,556 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 11,330 11,154 10,519 10,275 55 Automotive dealers................ 52,097 51,101 50,840 48,967 57 Furniture, home furnishings, and equipment stores................. 11,429 11,381 11,161 10,933 Nondurable goods, total..... 125,277 123,374 119,797 118,576 53 General merchandise group stores.. 27,015 26,235 25,340 24,898 531 Dept. strs.(excl. leased depts.) 21,168 20,713 19,706 19,402 54 Food stores....................... 35,989 35,852 34,805 34,957 56 Apparel and accessory stores...... 9,589 9,327 9,608 9,166 INVENTORY/SALES RATIOS Retail trade, total........... 1.48 1.51 1.50 1.53 Total (excl. auto group).. 1.41 1.43 1.43 1.45 Durable goods, total........ 1.92 1.97 1.95 2.00 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 1.97 2.01 2.00 2.04 55 Automotive dealers................ 1.68 1.73 1.71 1.77 57 Furniture, home furnishings, and equipment stores................. 2.09 2.07 2.19 2.20 Nondurable goods, total..... 1.17 1.19 1.20 1.21 53 General merchandise group stores.. 2.13 2.22 2.26 2.31 531 Dept. strs.(excl. leased depts.) 2.22 2.28 2.34 2.37 54 Food stores....................... 0.80 0.81 0.80 0.79 56 Apparel and accessory stores...... 2.44 2.50 2.42 2.54 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Inventory/ code of Sales Ratios Dollars 1997 1996 1997 1996 Jan.(p) Dec.(r) Jan. Dec. Retail trade, total........... 187,555 246,423 1.62 1.25 Total (excl. auto group).. 141,044 202,020 1.52 1.08 Durable goods, total........ 75,016 91,505 2.20 1.83 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 8,746 10,211 2.47 2.12 55 Automotive dealers................ 46,511 44,403 1.93 2.05 57 Furniture, home furnishings, and equipment stores................. 10,621 16,049 2.19 1.47 Nondurable goods, total..... 112,539 154,918 1.24 0.91 53 General merchandise group stores.. 20,539 44,492 2.58 1.21 531 Dept. strs.(excl. leased depts.) 15,791 35,813 2.73 1.22 54 Food stores....................... 35,306 38,104 0.82 0.78 56 Apparel and accessory stores...... 6,906 15,051 3.02 1.41 (p) Preliminary estimates. (r) Revised. SOURCE: Manufacturing and Trade Inventories and Sales -- January 1997 (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).