It completes the Trifecta – first retail sales came in up for November (analysis here). Then wholesale sales came in at record November levels (analysis here). Now the combined business community including manufacturing shows a solid 1.3% sales sales increase – although not at record levels.
The headlines for the combined US Census Release for retail, wholesale and manufacturing:
Sales. The U.S. Census Bureau announced today that the combined value of distributive trade sales and manufacturers’ shipments for November, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,133.1 billion, up 1.2 percent (±0.1%) from October 2010 and up 8.5 percent (±0.5%) from November 2009.
Inventories. Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,421.6 billion, up 0.2 percent (±0.1%) from October 2010 and up 6.8 percent (±0.4%) from November 2009.
Inventories/Sales Ratio. The total business inventories/sales ratio based on seasonally adjusted data at the end of November was 1.25. The November 2009 ratio was 1.27.
Econintersect uses unadjusted data in its analysis. First a look at the manufacturing portion of the data which has not been previously analyzed.