Production and business activity

Economic Indicators, June, 2005

[Millions of dollars, except ratios; seasonally adjusted,
except as noted]

                     Manufacturing  and trade (1)

                                                Inventory
   Period        Sales (2)    Inventories (3)     sales
                                                ratio (4)

1995              655,297          985,716        1.48
1996              687,557        1,004,905        1.46
1997              724,012        1,045,906        1.42
1998              742,836        1,078,451        1.43
1999              786,597        1,138,539        1.40
2000              834,353        1,197,538        1.41
2001              818,632        1,144,697        1.44
2002              821,470        1,163,440        1.40
2003              851,750        1,180,184        1.38
2004              940,813        1,270,690        1.31

2004: Apr (r)     622,392        1,207,848        1.31
      May (r)     931,899        1,214,905        1.30
      June        934,475        1,227,915        1.31
      July        941,958        1,239,571        1.32
      Aug         948,607        1,250,375        1.32
      Sept        951,361        1,249,529        1.31
      Oct         963,680        1,254,716        1.30
      Nov         967,806        1,268,249        1.31
      Dec         979,059        1,270,690        1.30

2005: Jan         984,299        1,282,348        1.30
      Feb         979,038        1,289,116        1.32
      Mar (r)     986,991        1,295,398        1.31
      Apr (p)     998,086        1,298,442        1.30
      May (p)     996,388              ...         ...

                              Wholesale

                                               Inventory
   Period        Sales (2)   Inventories (3)     sales
                                               ratio (4)

1995              181,369       240,473          1.30
1996              191,936       243,194          1.27
1997              199,788       260,713          1.26
1998              203,495       273,910          1.32
1999              217,449       291,290          1.30
2000              235,053       309,820          1.29
2001              231,939       297,182          1.32
2002              235,368       300,671          1.26
2003              245,539       306,556          1.23
2004              278,196       339,639          1.17

2004: Apr (r)     273,761       312,981          1.14
      May (r)     275,440       317,339          1.15
      June        275,668       320,876          1.16
      July        277,482       325,495          1.17
      Aug         280,837       329,417          1.17
      Sept        282,514       330.462          1.17
      Oct         286,341       334,466          1.17
      Nov         288,654       338,544          1.17
      Dec         291,456       339,639          1.17

2005: Jan         292,430       343,126          1.17
      Feb         290,976       345,294          1.19
      Mar (r)     291,624       347,275          1.19
      Apr (p)     295,487       349,626          1.18
      May (p)     295,536       350,127          1.18

                              Retail

                                             Inven-
                                 Inven-        tory-      Retail and
   Period         Sales (2)    tories (3)     sales     food services
                                            ratio (4)     sales (2)

1995                 183,955     320,026       1.71         203,423
1996                 195,855     330,895       1.66         216,097
1997                 204,666     341,389       1.64         226,170
1998                 214,356     355,310       1.62         237,043
1999                 233,157     383,603       1.59         256,914
2000                 248,584     406,322       1.59         274,061
2001                 255,819     395,279       1.58         282,330
2002                 261,789     418,581       1.55         289,472
2003                 272,951     435,044       1.57         302,066
2004                 293,476     459,700       1.54         325,145

2004: Apr (r)        286,062     448,168       1.57         317,103
      May (r)        291,754     447,950       1.54         322,966
      June           290,003     452,729       1.56         321,319
      July           292,371     455,395       1.56         324,034
      Aug            292,233     458,983       1.57         323,700
      Sept           297,368     456,690       1.54         329,447
      Oct            299,882     453,864       1.51         332,280
      Nov            300,005     458,828       1.53         332,392
      Dec            303,731     459,700       1.51         336,583

2005: Jan            303,933     430,871       1.52         336,785
      Feb            305,757     462,535       1.51         338,991
      Mar (r)        307,078     463,567       1.51         340,075
      Apr (p)    (r) 311,639     464,390       1.49     (r) 345,339
      May (p)        310,014         ...        ...         343,623

(1) See page 21 for manufacturing.

(2) Annual data are averages of monthly not seasonally adjusted
figures; monthly data are seasonally adjusted totals for month.

(3) Seasonally adjusted, end of period.

(4) Annual data are averages of seasonally adjusted monthly ratios.

Source: Department of Commerce, Bureau of the Census.