Sales
October 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 $704.9 billion, down 0.4 percent (±0.5 percent)* from the revised September level, but were up 4.6 percent (±0.9 percent) from the revised October 2024 level. The August 2025 to September 2025 percent change was unrevised from the preliminary estimate of 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 $913.5 billion at the end of October, up 0.2 percent (±0.4 percent)* from the revised September level. Total inventories were up 1.7 percent (±0.9 percent) from the revised October 2024 level.
Inventories/Sales Ratio
The October inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.30. The October 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.
