The U.S. Census Bureau released November’s Monthly Wholesale Trade report on January 8, 2025.
The Monthly Wholesale Trade report provides national estimates of monthly sales, inventories, and inventories-to-sales ratios by kind of business for wholesale firms located in the United States (excluding manufacturers’ sales branches and offices). Data from this survey provide business leaders and policymakers with an up-to-date picture of the nation’s economic condition, and are a key element in estimating the quarterly Gross Domestic Product (GDP).
Sales
November 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 $678.0 billion, up 0.6 percent (±0.4 percent) from the revised October level and were up 2.0 percent (±0.9 percent) from the revised November 2023 level. The September 2024 to October 2024 percent change was revised from the preliminary estimate of down 0.1 percent (±0.5 percent)* to down 0.3 percent (±0.5 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 $901.6 billion at the end of November, down 0.2 percent (±0.4 percent)* from the revised October level. Total inventories were up 0.8 percent (±0.5 percent) from the revised November 2023 level. The October 2024 to November 2024 percent change was unrevised from the advance estimate of down 0.2 percent (±0.4 percent)*.
Inventories/Sales Ratio
The November inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.33. The November 2023 ratio was 1.35.