The U.S. Census Bureau posted the following monthly wholesale trade report for September, 2025. This release was originally scheduled for November 11, 2025.
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.