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FOR IMMEDIATE RELEASE: Thursday, February 8, 2024

Monthly Wholesale Trade Report: December 2023

CB24-21



Sales
December 2023 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $670.9 billion, up 0.7 percent (±0.5 percent) from the revised November level and were up 1.6 percent (±0.7 percent) from the revised December 2022 level. The October 2023 to November 2023 percent change was revised from the preliminary estimate of virtually unchanged (±0.2 percent)* to down 0.1 percent (±0.4 percent)*.

Inventories
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences, but not for price changes, were $897.2 billion at the end of December, up 0.4 percent (±0.4 percent)* from the revised November level. Total inventories were down 2.7 percent (±1.1 percent) from the revised December 2022 level. The November 2023 to December 2023 percent change was unrevised from the advance estimate of up 0.4 percent (±0.4 percent)*.

Inventories/Sales Ratio
The December inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.34. The December 2022 ratio was 1.40.

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* The 90 percent confidence interval includes zero. There is insufficient evidence to conclude that the actual change is different from zero.

Additional Release Tables

Files are available as Excel or Adobe PDF. All files are [<1 MB].

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Wholesale Indicator Branch
(301)763-6856
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