Sales
December 2025 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 $722.1 billion, up 1.0 percent (±0.4 percent) from the revised November level and were up 5.2 percent (±0.7 percent) from the revised December 2024 level. The October 2025 to November 2025 percent change was revised from the preliminary estimate of up 1.3 percent (±0.4 percent) to up 1.4 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 $918.0 billion at the end of December, up 0.2 percent (±0.4 percent)* from the revised November level. Total inventories were up 2.9 percent (±1.1 percent) from the revised December 2024 level. The November 2025 to December 2025 percent change was unrevised from the advance estimate of up 0.2 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 1.27. The December 2024 ratio was 1.30.
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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.
