FOR IMMEDIATE RELEASE
TUESDAY, JUNE 14, 2016 AT 10:00 A.M. EDT
Rebecca DeNale (Retail):  (301) 763-2713            CB16-104 William Abriatis (Wholesale):  (301) 763-6856 Adriana Stoica (Manufacturing):  (301) 763-4832
MANUFACTURING AND TRADE INVENTORIES AND SALES
APRIL 2016
Sales . The U.S. Census Bureau announced today that the combined value of distributive trade sales an
d manufacturers’ shipments for April, adjusted for seasonal and  trading-day differences but not for price changes, was estimated at $1,290.2 billion, up 0.9 percent (±0.2%) from March 2016, but was down 1.3 percent (±0.5%) from April 2015.
Inventories . Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,807.1 billion, up 0.1 percent (±0.1%)* from March 2016 and were up 1.0 percent (±0.5%) from April 2015.
Inventories/Sales Ratio. The total business inventories/sales ratio based on seasonally adjusted data at the end of April was 1.40.  The April 2015 ratio was 1.37.
Total Business Inventories/Sales Ratios: 2007 to 2016
(Data adjusted for seasonal, holiday and trading-day differences but not for price changes)
1.15
1.201.251.301.351.401.451.501.552007      2008      2009      2010
2011      2012      2013      20142015      2016
for the sale
The Manufacturing and Trade Inventories and Sales Report for May 2016 is scheduled to be released July 15, 2016 at 10: EDT.
For additional information on this report, including customizable time series estimates by industry, v/mtis .
To learn more about this release and the other indicators the U.S. Census Bureau publishes, join us for the Investigating Economic Indicators Webinar Series.  For more information, v/econ/webinar .
To receive the latest updates on the nation’s key economic indicators, download the America’s Economy app for Apple and Android smartphones and tablets.
The U.S. Census Bureau updated its Application Programming Interface (API) with monthly and quarterly economic indicators. The API allows developers to combine Census Bureau statistics with other data sets to create tools for research on a variety of topics. For more information, v/developers .
*  The 90 percent confidence interval includes zero.  The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.
Table 1. Estimated Monthly Sales and Inventories for Manufacturers, Retailers, and Merchant Wholesalers
(In millions of dollars)
See footnotes and notes at the end of Table 3.
(p) Preliminary estimate. (r) Revised estimate.
Table 2. Percent Changes for Sales and Inventories -- Manufacturers, Retailers, and Merchant Wholesalers
Table 3. Estimated Monthly Retail Sales, Inventories, and Inventories/Sales Ratios, By Kind of Business (In millions of dollars)
(p) Preliminary estimate.
(r) Revised estimate.
1 Inventories are on a non-LIFO basis as of the end of the month.
2 Adjusted for seasonal variations and, in the case of sales, for trading-day differences and holiday variations. Concurrent seasonal adjustment is being used to adjust all sales, shipment and inventory estimates. Concurrent seasonal adjustment uses all available unadjusted estimates as input to the X-13ARIMA-SEATS program. The factors derived from the program are applied to the current and previous month estimates and for retail and wholesale estimates a year ago as well. For retail sales, concurrent seasonal adjustment is also used to adjust the advance estimates (published one month before the preliminary estimates) and the estimates one year before the advance month. This explains the revision to retail estimates from a year ago.
3Manufacturers sales refer to the value of shipments by manufacturers. The shipments data from individual manufacturers are adjusted prior to tabulation for the number of trading days as well as for any variations in the length of the reporting period.
4 The 2007 North American Industry Classification System (NAICS) defines merchant wholesalers as including manufacturers’ sales branches and offices.  However, the estimates included in this release exclude manufacturers’ sales branches and offices.  Note that this is not a change in coverage from pri
or releases and is consistent with the description used in the Monthly Wholesale Trade Survey data products.
Note: U.S. and group totals include kinds of business not shown. The Manufacturing and Trade Inventory and Sales estimates are based on data from three surveys: the Monthly Retail Trade Survey, the Monthly Wholesale Trade Survey, and the Manufacturers’ Shipments, Inventories, and Orders Survey.  The sampling variability for retailers and merchant wholesalers can be used to construct a 90 percent confidence interval for the estimates.  Over all possible samples, 90 percent of such intervals will cover the true estimate.  These intervals are given in parentheses for the estimates on the front page.  If, for example, the estimate is up 0.8 percent and the margin of sampling error is ±1.2 percent, the 90 percent confidence interval is -0.4 percent to +2.0 percent.  If the range contains 0, it is uncertain whether there was an increase or decrease.  Measures of reliability for Retail and Wholesale sales and inventory levels and changes are included in the detailed monthly press releases for those Industries. Manufacturers do not contribute to estimates of sampling variability because the manufacturer’s mail panel is not a probability sample from a known frame and standard errors of the industry estimates cannot be calculated.  Estimates from all three surveys are also subject to nonsampling errors, which can arise in any stage of the survey.  Such errors include coverage error (fa
ilure to accurately represent all population units in the sample) response errors, coding errors, and nonresponse.  Although no direct measurement of these errors has been obtained, precautionary steps were taken in all phases of the collection, processing, and tabulation of the data to minimize their influence.

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