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Monday, April 6, 2020

Petroleum and petroleum products wholesalers report 4.4 percent decrease in December sales


By Metric Media News Service | Mar 23, 2020

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Sales by petroleum and petroleum products wholesalers in December were $58.9 billion, a decrease of 4.4 percent from the revised November 2019 level, according to a U.S. Census Bureau report which was released in February.

Petroleum and petroleum products wholesalers reported total sales of $61.6 billion the previous month.

The data is after adjustment for seasonal variations and trading day differences, but not for price changes.

The Census Bureau conducts a monthly wholesale trade survey in order to provide an up-to-date indication of sales and inventory trends for U.S. merchant wholesalers, excluding manufacturers' sales branches and offices.

The survey is considered to be a reliable measure of current economic activity.

Information requested in the survey includes monthly sales reports, end-of-month inventories, number of establishments covered by the report, and the ending date of the reporting period.

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