Sales
September 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 $708.2 billion, down 0.2 percent (±0.4 percent)* from the revised August level, but were up 4.8 percent (±0.7 percent) from the revised September 2024 level. The July 2025 to August 2025 percent change was revised from the preliminary estimate of up 0.1 percent (±0.4 percent)* to down 0.2 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 $911.5 billion at the end of September, up 0.5 percent (±0.2 percent) from the revised August level. Total inventories were up 1.8 percent (±0.9 percent) from the revised September 2024 level.
Inventories/Sales Ratio
The September inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.29. The September 2024 ratio was 1.33.
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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.
