U.S. wholesale inventories fell -0.3% MoM in May 2025 to $905.5B, while sales declined -0.3% MoM to $697.2B. Year over year, inventories rose 1.4% and sales increased 4.8%, lowering the inventories-to-sales ratio to 1.30 from 1.34 in May 2024.

• Durable goods inventories fell -0.8% MoM but rose 0.1% YoY, led by drops in automotive (-1.5% MoM, -2.6% YoY) and machinery (-0.8% MoM, -2.0% YoY).
• Nondurable goods inventories rose 0.5% MoM and 3.9% YoY, with strong gains in drugs (+1.8% MoM, +5.1% YoY) and petroleum (+2.5% MoM, -8.1% YoY).
• The inventories-to-sales ratio remained flat MoM at 1.30, but down from 1.34 YoY, signaling leaner stockpiles relative to demand.