June wholesale inventories fall less than expected

Sales 
June 2020 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $457.3 billion, up 8.8 percent (±0.9 percent) from the revised May level, but were down 8.5 percent (±1.1 percent) from the revised June 2019 level. The April 2020 to May 2020 percent change was revised from the preliminary estimate of up 5.4 percent (±0.7 percent) to up 5.7 percent (±0.7 percent). 

Inventories 
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $633.3 billion at the end of June, down 1.4 percent (±0.2 percent) from the revised May level. Total inventories were down 5.6 percent (±0.9 percent) from the revised June 2019 level. The May 2020 to June 2020 percent change was revised from the advance estimate of down 2.0 percent (±0.2 percent) to down 1.4 percent (±0.2 percent).

Inventories/Sales Ratio 
The June inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.38. The June 2019 ratio was 1.34.