The United States Census Bureau today published the latest monthly wholesale trade report for October 2025.
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.
The entire report can be found here.