U.S. wholesale inventories rose +0.1% MoM to $906.3 billion in June 2025, while sales increased +0.3% MoM to $698.5 billion.

• On a YoY basis, inventories were up 1.3% and sales rose 5.5%, pushing the inventories-to-sales ratio down to 1.30 from 1.35 a year earlier.
• May sales were revised down to -0.4% MoM (from -0.3%), while inventories were confirmed at -0.3% MoM.
• Durable goods inventories increased just 0.1% MoM in June after the -0.7% MoM drop in May.
• Nondurable goods inventories were also up 0.1% MoM in June, building on the 0.4% MoM increase in May.
• Auto inventories fell -1.2% MoM for the second straight month and were down -4.7% YoY.
• The inventories-to-sales ratio held steady at 1.30 MoM, but fell -0.05 pts YoY, indicating leaner inventories relative to stronger sales.
• This marks the fourth straight month of YoY inventory-to-sales ratio declines, as demand continues to outpace stock rebuilding.