US total business sales rose 1.0% MoM in July 2025 and were up 4.0% YoY, while inventories increased 0.2% MoM and 1.5% YoY, keeping stock levels broadly aligned with demand.

• Manufacturers’ sales rose 0.9% MoM and 1.8% YoY, with inventories up 0.3% MoM and 1.5% YoY, showing modest restocking alongside higher shipments.

• Retailers’ sales increased 0.7% MoM and 3.8% YoY; retail inventories rose 0.2% MoM and 1.7% YoY, though excluding autos, inventories slipped -0.1% MoM while rising 3.2% YoY.

• Merchant wholesalers’ sales gained 1.4% MoM and 6.2% YoY, while inventories edged up 0.1% MoM and 1.3% YoY, indicating stronger turnover in the wholesale sector.

• Motor vehicle & parts dealer inventories rose 0.5% MoM but were down -1.5% YoY, reflecting leaner auto stock levels.

• Building materials & garden equipment inventories rose 0.3% MoM and 6.1% YoY, pointing to ongoing strength in the sector.

• Department store inventories fell -1.2% MoM and -1.5% YoY, with the highest inventories/sales ratio at 2.68, suggesting slower stock turnover.

• Food & beverage store inventories rose 0.6% MoM and 3.0% YoY, with the lowest inventories/sales ratio at 0.74, highlighting quicker inventory cycles.