Table 1. ESTIMATED MONTHLY SALES AND INVENTORIES FOR MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS DATA MONTH 11 2003 -------------SALES------------- ----------INVENTORIES---------- INVENTORIES/SALES RATIOS Nov. 2003 Oct. 2003 Nov. 2002 Nov. 2003 Oct. 2003 Nov. 2002 Nov. 2003 Oct. 2003 Nov. 2002 (p) (r) (s) (p) (r) (s) ADJUSTED TOTAL BUSINESS 879,768 875,497 834,536 1,187,426 1,183,298 1,163,281 1.35 1.35 1.39 MANUFACTURERS 339,899 339,825 326,527 437,904 438,680 442,499 1.29 1.29 1.36 RETAILERS 292,421 288,940 273,390 456,779 453,394 434,465 1.56 1.57 1.59 MERCHANT WHOLESALERS 247,448 246,732 234,619 292,743 291,224 286,317 1.18 1.18 1.22 NOT ADJUSTED TOTAL BUSINESS 853,986 908,871 825,571 1,220,998 1,209,275 1,195,929 1.43 1.33 1.45 MANUFACTURERS 332,634 356,009 322,601 439,523 441,907 444,506 1.32 1.24 1.38 RETAILERS 286,294 288,599 274,014 485,849 473,115 462,680 1.70 1.64 1.69 MERCHANT WHOLESALERS 235,058 264,263 228,956 295,626 294,253 288,743 1.26 1.11 1.26 (p) preliminary. (r) revised. (s) Adjusted data were revised due to concurrent seasonal adjustment. No revisions were made to Not Adjusted data. Table 2. PERCENT CHANGES FOR SALES AND INVENTORIES - MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS DATA MONTH 11 2003 ADJUSTED NOT ADJUSTED --------------SALES--------------- -----------INVENTORIES------------ --------------SALES--------------- -----------INVENTORIES------------ Nov. 2003/ Oct. 2003/ Nov. 2003/ Nov. 2003/ Oct. 2003/ Nov. 2003/ Nov. 2003/ Oct. 2003/ Nov. 2003/ Nov. 2003/ Oct. 2003/ Nov. 2003/ Oct. 2003 Sep. 2003 Nov. 2002 Oct. 2003 Sep. 2003 Nov. 2002 Oct. 2003 Sep. 2003 Nov. 2002 Oct. 2003 Sep. 2003 Nov. 2002 TOTAL BUSINESS 0.5 0.7 5.4 0.3 0.4 2.1 -6.0 2.7 3.4 1.0 3.2 2.1 MANUFACTURERS 0.0 0.7 4.1 -0.2 0.1 -1.0 -6.6 -0.5 3.1 -0.5 0.8 -1.1 RETAILERS 1.2 -0.2 7.0 0.7 0.7 5.1 -0.8 3.3 4.5 2.7 6.1 5.0 MERCHANT WHOLESALERS 0.3 2.0 5.5 0.5 0.5 2.2 -11.1 6.6 2.7 0.5 2.5 2.4 (p) preliminary. (r) revised. (s) Adjusted data were revised due to concurrent seasonal adjustment. No revisions were made to Not Adjusted data. Table 3. ESTIMATED MONTHLY RETAIL SALES, INVENTORIES, AND INVENTORIES/SALES RATIOS, BY KIND OF BUSINESS DATA MONTH 11 2003 -------------SALES------------- ----------INVENTORIES---------- PERCENT CHANGE IN INVENTORIES INVENTORIES/SALES RATIOS KIND OF BUSINESS Nov. 2003 Oct. 2003 Nov. 2002 Nov. 2003 Oct. 2003 Nov. 2002 Nov. 2003/ Oct. 2003/ Nov. 2003/ (p) (r) (s) (p) (r) (s) Oct. 2003 Sep. 2003 Nov. 2002 Nov. 2003 Oct. 2003 Nov. 2002 ADJUSTED 44,45 RETAIL TRADE, TOTAL 292,421 288,940 273,390 456,779 453,394 434,465 0.7 0.7 5.1 1.56 1.57 1.59 44,45-441 TOTAL EXCL. MOTOR VEHICLE AND PARTS DEALERS 214,877 213,628 202,047 298,027 296,535 287,862 0.5 0.3 3.5 1.39 1.39 1.42 441 MOTOR VEHICLE AND PARTS DEALERS 77,544 75,312 71,343 158,752 156,859 146,603 1.2 1.5 8.3 2.05 2.08 2.05 442,443 FURNITURE,HOME FURN.,ELECTRONICS, APPL.STORES 16,943 16,848 15,555 28,391 28,151 26,316 0.9 1.7 7.9 1.68 1.67 1.69 444 BUILDING MATL. & GARDEN EQUIPMENT & SUPPLY STORES 28,208 28,090 25,336 46,658 46,346 42,712 0.7 0.1 9.2 1.65 1.65 1.69 445 FOOD AND BEVERAGE STORES 42,923 42,811 41,388 34,668 34,603 33,934 0.2 -1.0 2.2 0.81 0.81 0.82 448 CLOTHING AND ACCESSORY STORES 15,266 15,116 14,355 36,746 36,411 35,691 0.9 -0.5 3.0 2.41 2.41 2.49 452 GENERAL MERCHANDISE 40,358 40,298 38,406 66,867 67,043 66,250 -0.3 0.5 0.9 1.66 1.66 1.72 4521 DEPARTMENT STORES (EXCL. LEASED DEPTS.) 17,981 18,128 18,390 36,121 36,568 37,890 -1.2 0.3 -4.7 2.01 2.02 2.06 NOT ADJUSTED 44,45 RETAIL TRADE, TOTAL 286,294 288,599 274,014 485,849 473,115 462,680 2.7 6.1 5.0 1.70 1.64 1.69 44,45-441 TOTAL EXCL. MOTOR VEHICLE AND PARTS DEALERS 219,335 214,806 210,197 326,091 320,621 315,157 1.7 5.8 3.5 1.49 1.49 1.50 441 MOTOR VEHICLE AND PARTS DEALERS 66,959 73,793 63,817 159,758 152,494 147,523 4.8 6.7 8.3 2.39 2.07 2.31 442,443 FURNITURE,HOME FURN.,ELECTRONICS, APPL.STORES 18,446 16,457 17,219 32,479 31,079 30,027 4.5 11.5 8.2 1.76 1.89 1.74 444 BUILDING MATL. & GARDEN EQUIPMENT & SUPPLY STORES 25,684 29,842 23,771 45,585 45,836 41,687 -0.5 0.7 9.4 1.77 1.54 1.75 445 FOOD AND BEVERAGE STORES 42,920 42,912 41,917 36,263 35,611 35,484 1.8 2.4 2.2 0.84 0.83 0.85 448 CLOTHING AND ACCESSORY STORES 16,530 14,606 15,816 40,898 40,635 39,760 0.6 3.5 2.9 2.47 2.78 2.51 452 GENERAL MERCHANDISE 45,475 39,281 43,428 79,571 77,891 78,820 2.2 10.3 1.0 1.75 1.98 1.81 4521 DEPARTMENT STORES (EXCL. LEASED DEPTS.) 21,085 17,541 21,598 43,598 42,967 45,695 1.5 10.7 -4.6 2.07 2.45 2.12 (p) preliminary. (r) revised. (s) Adjusted data were revised due to concurrent seasonal adjustment. No revisions were made to Not Adjusted data. Table 4. ADJUSTED MTIS DOLLAR AND PERCENT CHANGES DATA MONTH 11 2003 C1 C2 C3 C4 C5 C6 ----------DOLLAR CHANGES----------- ----------PERCENT CHANGES---------- CMCY-PMCY PMCY-(PM-1)CY CMCY-CMPY CMCY/PMCY PMCY/(PM-1)CY CMCY/CMPY SALES TOTAL BUSINESS 4,271 6,298 45,232 0.5 0.7 5.4 MANUFACTURERS 74 339,825 13,372 0.0 0.0 4.1 RETAILERS 3,481 -654 19,031 1.2 -0.2 7.0 MERCHANT WHOLESALERS 716 4,725 12,829 0.3 2.0 5.5 INVENTORY TOTAL BUSINESS 4,128 4,976 24,145 0.3 0.4 2.1 MANUFACTURERS -776 386 -4,595 -0.2 0.1 -1.0 RETAILERS 3,385 3,057 22,314 0.7 0.7 5.1 MERCHANT WHOLESALERS 1,519 1,533 6,426 0.5 0.5 2.2 Legend: (P)=Preliminary (F)=Final CM=Current Month PM=Previous Month CY=Current Year PY=Previous Year CM/PM=Current Month to Previous Month PM/PM-1=Previous Month to Previous Month minus one Table 5. PM REVISIONS PRELIMINARY TO FINAL DATA MONTH 11 2003 C1 C2 C3 C4 C5 C6 ------------UNADJUSTED------------- -------------ADJUSTED-------------- PM (P) PM(F)-PM(P) PM(F)/PM(P) PM (P) PM(F)-PM(P) PM(F)/PM(P) $ CHANGE % CHANGE $ CHANGE % CHANGE SALES TOTAL BUSINESS 908,446 425 0.05 875,505 -8 -0.00 MANUFACTURERS 355,433 576 0.16 339,857 -32 -0.01 RETAILERS 288,708 -109 -0.04 288,813 127 0.04 MERCHANT WHOLESALERS 264,305 -42 -0.02 246,835 -103 -0.04 INVENTORY TOTAL BUSINESS 1,209,643 -368 -0.03 1,182,838 460 0.04 MANUFACTURERS 441,923 -16 -0.00 438,483 197 0.04 RETAILERS 473,205 -90 -0.02 453,154 240 0.05 MERCHANT WHOLESALERS 294,515 -262 -0.09 291,201 23 0.01 Legend: (P)=Preliminary (F)=Final CM=Current Month PM=Previous Month CY=Current Year PY=Previous Year CM/PM=Current Month to Previous Month PM/PM-1=Previous Month to Previous Month minus one