Petroleum and petroleum products wholesalers report 17.8 percent decrease in year-over-year September inventories

Inventories held by petroleum and petroleum products wholesalers in September were valued at $19.8 billion, a decrease of 17.8 percent from the same period a year earlier, according to a U.S. Census Bureau report.

Petroleum and petroleum products wholesalers reported inventories worth $24.1 billion in September 2018.

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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