U.S. total business sales rose 0.2% MoM in August 2025 and 4.4% YoY, reflecting steady demand even as inventory levels were unchanged from July and grew modestly over the year.

• Total business inventories were flat MoM (0.0%) and up 1.1% YoY, indicating stock levels are broadly aligned with sales despite slower monthly inventory accumulation.

• Manufacturers’ sales slipped -0.1% MoM but were up 2.3% YoY; inventories were unchanged MoM and up 1.3% YoY, pointing to stable stock levels amid softer monthly shipment activity.

• Merchant wholesalers’ sales rose 0.1% MoM and 6.1% YoY, outpacing other sectors, with inventories flat MoM and up 1.1% YoY, showing strong wholesale demand against stable stock levels.

• Retailers’ sales increased 0.5% MoM and 4.7% YoY, continuing strong annual momentum; retail inventories fell -0.1% MoM but remained up 0.7% YoY, suggesting improved inventory turnover.

• Excluding autos, retailer inventories were unchanged in the last two months but up 2.3% YoY.

• The total business inventories-to-sales ratio fell to 1.37 (from 1.41 a year earlier), indicating leaner inventory positions relative to the pace of sales compared with 2024.