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US' wholesale revenue increases in December 2023

12 Feb '24

2 min read

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US merchant wholesalers saw a sales increase to $670.9 billion in December 2023, a 0.7 per cent rise from November and 1.6 per cent from the previous year.
Inventories grew to $897.2 billion, up 0.4 per cent from November but down 2.7 per cent year-on-year.
The inventories to sales ratio dropped to 1.34.
The trade deficit widened to $62.2 billion.

Sales of merchant wholesalers in the US saw a positive trend in December 2023, with sales reaching $670.9 billion, marking a 0.7 per cent increase from the revised November figures. This improvement also represents a 1.6 per cent rise from the sales figures of December 2022. The adjustment from the initial estimate in November, which showed virtually no change, was revised to a slight decrease of 0.1 per cent.

In terms of inventories, merchant wholesalers, excluding manufacturers’ sales branches and offices, saw their stock levels rise to $897.2 billion at the end of December, a 0.4 per cent increase from November's revised levels. Despite this monthly increase, the total inventories experienced a decline of 2.7 per cent when compared to December 2022. The inventory adjustment for November to December remained stable at a 0.4 per cent increase, as initially estimated.

The inventories to sales ratio for December stood at 1.34, a decrease from the 1.40 ratio recorded in December 2022, as per the census bureau.

Additionally, there was a widening in the nation's international trade deficit in goods and services, which increased to $62.2 billion in December from the $61.9 billion deficit reported in November. This rise in the trade deficit was attributed to imports growing at a faster pace than exports.

Fibre2Fashion News Desk (DP)

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