FOR WIRE TRANSMISSION 8:30 A.M. EST, Friday, February 14, 1997 MANUFACTURING AND TRADE INVENTORIES AND SALES -- DECEMBER 1996 ****************************************************************************** * 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 April 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 December adjusted for seasonal and trading-day differences, but not for price changes, were estimated at $727.8 billion, 0.1 percent (+/-0.2%) below November but 4.6 percent (+/-0.5%) above December 1995. Total durable goods were down 0.5 percent (+/-0.4%) from November but were up 3.8 percent (+/-0.7%) from December 1995. Total nondurable goods increased 0.2 percent (+/-0.3%) from November and 5.5 percent (+/-0.6%) from December 1995. INVENTORIES Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,009 billion, 0.1 percent (+/-0.2%) below November but 1.9 percent (+/-0.5%) above December 1995. Total durable goods decreased 0.2 percent (+/-0.3%) from November but were up 2.5 percent (+/-0.7%) from December 1995. Total nondurable goods were virtually unchanged from November but were up 1.2 percent (+/-0.4%) from December 1995. INVENTORIES/SALES RATIO The total business inventories/sales ratio based on seasonally adjusted data at the end of December was 1.39, virtually unchanged from November but down .03 from December 1995. The Manufacturing and Trade Inventories and Sales Report for January is scheduled for release March 14, 1997 at 8:30 a.m. TABLE 1: ESTIMATED MONTHLY SALES, INVENTORIES, AND INVENTORY/SALES RATIOS FOR MANUFACTURERS, RETAILERS, AND MERCHANT WHOLESALERS DECEMBER 1996 Adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1996 1996 1995 Dec.(p) Nov.(r) Jan.(r) Dec.(r) SALES Total business.............. 727,763 728,804 690,825 695,569 Durable........................... 357,642 359,297 339,461 344,665 Nondurable........................ 370,121 369,507 351,364 350,904 Manufacturers................. 315,555 317,548 298,685 301,284 Durable........................... 168,406 170,144 159,125 161,976 Nondurable........................ 147,149 147,404 139,560 139,308 Retailers..................... 207,869 207,324 199,262 199,446 Durable........................... 84,815 84,604 80,599 80,872 Nondurable........................ 123,054 122,720 118,663 118,574 Merchant wholesalers.......... 204,339 203,932 192,878 194,839 Durable........................... 104,421 104,549 99,737 101,817 Nondurable........................ 99,918 99,383 93,141 93,022 INVENTORIES Total business.............. 1,009,464 1,010,916 995,352 990,163 Durable........................... 607,425 608,932 597,055 592,771 Nondurable........................ 402,039 401,984 398,297 397,392 Manufacturers................. 438,173 439,371 434,724 432,344 Durable........................... 276,748 277,917 272,657 270,356 Nondurable........................ 161,425 161,454 162,067 161,988 Retailers..................... 314,956 313,616 304,370 302,856 Durable........................... 168,241 167,534 161,316 160,481 Nondurable........................ 146,715 146,082 143,054 142,375 Merchant wholesalers.......... 256,335 257,929 256,258 254,963 Durable........................... 162,436 163,481 163,082 161,934 Nondurable........................ 93,899 94,448 93,176 93,029 INVENTORY/SALES RATIOS Total business.............. 1.39 1.39 1.44 1.42 Durable........................... 1.70 1.69 1.76 1.72 Nondurable........................ 1.09 1.09 1.13 1.13 Manufacturers................. 1.39 1.38 1.46 1.44 Durable........................... 1.64 1.63 1.71 1.67 Nondurable........................ 1.10 1.10 1.16 1.16 Retailers..................... 1.52 1.51 1.53 1.52 Durable........................... 1.98 1.98 2.00 1.98 Nondurable........................ 1.19 1.19 1.21 1.20 Merchant wholesalers.......... 1.25 1.26 1.33 1.31 Durable........................... 1.56 1.56 1.64 1.59 Nondurable........................ 0.94 0.95 1.00 1.00 Not adjusted for Seasonal, Holiday and Trading-day Differences (Millions of Dollars) 1996 1995 Dec.(p) Nov.(r) Dec. SALES Total business.............. 760,459 729,813 723,623 Durable........................... 364,450 355,503 348,069 Nondurable........................ 396,009 374,310 375,554 Manufacturers................. 311,749 319,036 297,942 Durable........................... 170,015 171,293 163,554 Nondurable........................ 141,734 147,743 134,388 Retailers..................... 246,157 211,873 237,994 Durable........................... 91,594 81,957 87,086 Nondurable........................ 154,563 129,916 150,908 Merchant wholesalers.......... 202,553 198,904 187,687 Durable........................... 102,841 102,253 97,429 Nondurable........................ 99,712 96,651 90,258 INVENTORIES Total business.............. 995,392 1,037,614 977,419 Durable........................... 598,867 616,365 584,914 Nondurable........................ 396,525 421,249 392,505 Manufacturers................. 428,324 439,502 422,641 Durable........................... 269,600 278,567 263,530 Nondurable........................ 158,724 160,935 159,111 Retailers..................... 310,130 338,062 298,371 Durable........................... 168,874 175,044 161,359 Nondurable........................ 141,256 163,018 137,012 Merchant wholesalers.......... 256,938 260,050 256,407 Durable........................... 160,393 162,754 160,025 Nondurable........................ 96,545 97,296 96,382 INVENTORY/SALES RATIOS Total business.............. 1.31 1.42 1.35 Durable........................... 1.64 1.73 1.68 Nondurable........................ 1.00 1.13 1.05 Manufacturers................. 1.37 1.38 1.42 Durable........................... 1.59 1.63 1.61 Nondurable........................ 1.12 1.09 1.18 Retailers..................... 1.26 1.60 1.25 Durable........................... 1.84 2.14 1.85 Nondurable........................ 0.91 1.25 0.91 Merchant wholesalers.......... 1.27 1.31 1.37 Durable........................... 1.56 1.59 1.64 Nondurable........................ 0.97 1.01 1.07 TABLE 2: ESTIMATED MONTHLY RETAIL INVENTORIES -- DECEMBER 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Dec. 1996 from-- 1996 1995 1996 1995 Dec.(p) Nov.(r) Dec.(r) Nov. Dec. Retail inventories, total..... 314,956 313,616 302,856 +0.4 +4.0 Total (excl. auto group).. 226,192 225,682 216,973 +0.2 +4.2 Durable goods, total........ 168,241 167,534 160,481 +0.4 +4.8 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 22,464 22,186 21,003 +1.3 +7.0 55 Automotive dealers................ 88,764 87,934 85,883 +0.9 +3.4 57 Furniture, home furnishings, and equipment stores................. 23,574 24,082 24,242 -2.1 -2.8 Nondurable goods, total..... 146,715 146,082 142,375 +0.4 +3.0 53 General merchandise group stores.. 58,180 58,527 57,438 -0.6 +1.3 531 Dept. strs.(excl. leased depts.) 47,398 47,621 45,918 -0.5 +3.2 54 Food stores....................... 28,912 28,903 27,689 0.0 +4.4 56 Apparel and accessory stores...... 23,616 23,379 23,178 +1.0 +1.9 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Percent code of Change Dollars Dec. 1996 from-- 1996 1995 1996 1995 Dec.(p) Nov.(r) Dec. Nov. Dec. Retail inventories, total..... 310,130 338,062 298,371 -8.3 +3.9 Total (excl. auto group).. 218,360 249,570 209,556 -12.5 +4.2 Durable goods, total........ 168,874 175,044 161,359 -3.5 +4.7 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 21,678 21,742 20,247 -0.3 +7.1 55 Automotive dealers................ 91,770 88,492 88,815 +3.7 +3.3 57 Furniture, home furnishings, and equipment stores................. 23,692 27,478 24,412 -13.8 -2.9 Nondurable goods, total..... 141,256 163,018 137,012 -13.3 +3.1 53 General merchandise group stores.. 53,929 68,854 53,245 -21.7 +1.3 531 Dept. strs.(excl. leased depts.) 43,891 56,050 42,520 -21.7 +3.2 54 Food stores....................... 29,607 30,252 28,352 -2.1 +4.4 56 Apparel and accessory stores...... 21,609 26,535 21,231 -18.6 +1.8 TABLE 3: ESTIMATED MONTHLY RETAIL SALES AND INVENTORIES/SALES RATIOS DECEMBER 1996 Adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions code of Dollars 1996 1996 1996 1995 Dec.(p) Nov.(r) Jan.(r) Dec.(r) Retail trade, total........... 207,869 207,324 199,262 199,446 Total (excl. auto group).. 156,773 156,742 150,347 150,755 Durable goods, total........ 84,815 84,604 80,599 80,872 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 11,078 11,167 10,277 10,594 55 Automotive dealers................ 51,096 50,582 48,915 48,691 57 Furniture, home furnishings, and equipment stores................. 11,327 11,414 10,987 11,212 Nondurable goods, total..... 123,054 122,720 118,663 118,574 53 General merchandise group stores.. 26,102 25,903 24,921 24,892 531 Dept. strs.(excl. leased depts.) 20,580 20,237 19,375 19,370 54 Food stores....................... 35,746 35,680 34,984 34,822 56 Apparel and accessory stores...... 9,290 9,249 9,235 9,219 INVENTORY/SALES RATIOS Retail trade, total........... 1.52 1.51 1.53 1.52 Total (excl. auto group).. 1.44 1.44 1.44 1.44 Durable goods, total........ 1.98 1.98 2.00 1.98 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 2.03 1.99 2.03 1.98 55 Automotive dealers................ 1.74 1.74 1.78 1.76 57 Furniture, home furnishings, and equipment stores................. 2.08 2.11 2.18 2.16 Nondurable goods, total..... 1.19 1.19 1.21 1.20 53 General merchandise group stores.. 2.23 2.26 2.31 2.31 531 Dept. strs.(excl. leased depts.) 2.30 2.35 2.37 2.37 54 Food stores....................... 0.81 0.81 0.79 0.80 56 Apparel and accessory stores...... 2.54 2.53 2.52 2.51 Not adjusted for Seasonal, Holiday and Trading-day Differences SIC Kind of business Millions Inventory/ code of Sales Ratios Dollars 1996 1996 Dec.(p) Nov.(r) Dec. Nov. Retail trade, total........... 246,157 211,873 1.26 1.60 Total (excl. auto group).. 201,626 165,581 1.08 1.51 Durable goods, total........ 91,594 81,957 1.84 2.14 52 Bldg. materials, hardware, garden supply, and mobile home dealers.. 10,186 10,797 2.13 2.01 55 Automotive dealers................ 44,531 46,292 2.06 1.91 57 Furniture, home furnishings, and equipment stores................. 15,968 12,798 1.48 2.15 Nondurable goods, total..... 154,563 129,916 0.91 1.25 53 General merchandise group stores.. 44,389 30,719 1.21 2.24 531 Dept. strs.(excl. leased depts.) 35,727 24,305 1.23 2.31 54 Food stores....................... 37,946 35,975 0.78 0.84 56 Apparel and accessory stores...... 15,003 10,727 1.44 2.47 (p) Preliminary estimates. (r) Revised. SOURCE: Manufacturing and Trade Inventories and Sales -- December 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).