The U.S. Census Bureau released monthly wholesale inventory reports on May 8th.
Sales
March 2024 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 $662.8 billion, down 1.3 percent (±0.5 percent) from the revised February level, but were up 1.4 percent (±0.9 percent) from the revised March 2023 level. The January 2024 to February 2024 percent change was revised from the preliminary estimate of up 2.3 percent (±0.4 percent) to up 2.0 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 $894.7 billion at the end of March, down 0.4 percent (±0.2 percent) from the revised February level. Total inventories were down 2.3 percent (±0.9 percent) from the revised March 2023 level. The February 2024 to March 2024 percent change was unrevised from the advance estimate of down 0.4 percent (±0.2 percent).
Inventories/Sales Ratio
The March inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.35. The March 2023 ratio was 1.40.