SMU Service Center Inventories at 2.29 Months

Based on our survey results from this past week, SMU found service center inventories have declined slightly from where they were at the beginning of January. Each service center is treated equally in our survey – we do not weigh the survey due to size. As of last week our average was 2.29 months worth of inventory is being held on the floors of those service centers responding to our survey. We believe this should indicate a slight decline in the MSCI numbers when they come out a little later this month.