U.S. wholesale sales rose +1.0% MoM and +5.2% YoY in December 2025, signaling steady demand growth.

• Merchant wholesaler sales reached $722.1B (+1.0% MoM) after November’s revised +1.4% MoM increase, extending the recent upward trend in activity.

• On a YoY basis, sales were +5.2%, indicating stronger turnover compared with December 2024 levels.

• Total wholesale inventories increased to $918.0B (+0.2% MoM), showing modest stock accumulation alongside rising sales.

• Durable goods inventories increased 0.4% MoM, well short of sales growth of 1.7% MoM, and nondurable goods inventories were up 0.1% MoM, also short of sales growth in that segment of 0.4% MoM.

• Inventories were +2.9% YoY, a slower pace than sales growth, implying inventory expansion lagged demand over the year.

• The inventories-to-sales ratio fell to 1.27 (Dec 2024: 1.30), indicating relatively leaner inventories relative to sales volumes.

• The October to November sales gain was revised up to +1.4% MoM (from +1.3%), reinforcing the recent strengthening in wholesale trade activity.

U.S. wholesale sales rose +1.3% MoM and +5.2% YoY in November 2025, showing a monthly rebound alongside continued annual growth momentum.

• Merchant wholesaler sales increased to $714.1B (+1.3% MoM) after October’s -0.4% MoM decline, reversing the prior month’s softness.

• On a YoY basis, wholesale sales were +5.2%, indicating stronger activity relative to November 2024 despite recent monthly volatility.

• Total wholesale inventories rose to $915.0B (+0.2% MoM), pointing to modest ongoing stock accumulation.

• Durable and nondurable goods inventories were both up 0.2% MoM, while both segments saw sales up over 1% MoM.

• Inventories increased +1.8% YoY, a slower pace than sales growth, showing inventory expansion has lagged demand over the past year.

• The inventories-to-sales ratio fell to 1.28 in November from 1.32 a year earlier, indicating inventories remain leaner relative to sales than in late 2024.

U.S. wholesale sales declined -0.4% MoM in October 2025 but rose +4.6% YoY, indicating a modest monthly pullback alongside solid annual growth.

• Merchant wholesaler sales fell to $704.9 billion in October (-0.4% MoM), extending the soft monthly trend following a -0.2% MoM decline in September that was unrevised from the preliminary estimate.
• On a YoY basis, wholesale sales increased +4.6%, underscoring stronger activity compared with October 2024 despite recent month-to-month weakness.
• Total wholesale inventories increased +0.2% MoM to $913.5 billion, showing continued but moderate inventory accumulation.
• Durable inventories fell -0.2% MoM while non-durable inventories increased 0.8% MoM (following a 1.1% MoM rise in November).
• Farm product inventories jumped 3.2% MoM (after a 4.5% MoM increase in November) but are still down -4.3% YoY.
• Inventories were up +1.7% YoY, indicating slower stock growth than sales over the past year.
• The inventories-to-sales ratio edged up to 1.30 in October, compared with 1.33 a year earlier, suggesting inventories remain leaner relative to sales than in October 2024.
• The combination of falling MoM sales and rising inventories contributed to the slight uptick in the inventory-to-sales ratio from September’s level.

U.S. wholesale sales slipped -0.2% MoM to $708.2 billion in September 2025 but were up +4.8% YoY, showing a modest monthly pullback alongside solid annual growth.

• Sales for August were revised downward from +0.1% MoM to -0.2% MoM, indicating weaker late summer momentum than initially reported.

• Wholesale inventories rose +0.5% MoM to $911.5 billion and increased +1.8% YoY, pointing to gradual stock accumulation compared with last year.

• Nondurable inventories increased 0.7% MoM and 3.8% YoY, driven by a 1.9% MoM and 7.1% MoM increase in drug inventories. Durable inventories increased 0.3% MoM and 0.6% YoY.

• The inventory-to-sales ratio increased to 1.29 in September, down from 1.33 a year earlier, suggesting inventories have tightened relative to sales over the past year.

• Despite the soft MoM sales figure, the +4.8% YoY increase underscores continued demand strength compared with September 2024.

• Inventory growth outpaced the monthly decline in sales, contributing to the slight uptick in the inventory-to-sales ratio from August’s level.

U.S. wholesale sales edged up +0.1% MoM in August 2025 to $711.1 billion, rising +6.1% YoY, reflecting a modest monthly increase alongside solid annual growth.

• Wholesale inventories were $907.9 billion, essentially flat MoM (0.0%) and up +1.1% YoY, indicating broadly stable stock levels compared with July.
• Durable goods inventories increased 0.1% MoM (but were down -0.2% YoY), offset by a nondurable goods inventories decline of -0.1% MoM (but were up 3.3% YoY).
• The June to July sales revision was adjusted to +1.3% MoM (from +1.4%), showing only a slight change in previously reported momentum.
• The July to August inventory change was revised from a preliminary 0.2% MoM to effectively unchanged, emphasizing limited month-to-month movement.
• The inventories-to-sales ratio held at 1.28 in August, down from 1.34 a year earlier, suggesting leaner inventories relative to stronger sales levels.