Wholesale inventories rise more than expected in December

Sales 

December 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 $503.8 billion, up 1.2 percent (±0.4 percent) from the revised November level and were up 1.7 percent (±1.2 percent) from the revised December 2019 level. The October 2020 to November 2020 percent change was revised from the preliminary estimate of up 0.2 percent (±0.4 percent) to up 0.3 percent (±0.4 percent).

Inventories 

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $651.5 billion at the end of December, up 0.3 percent  (±0.4 percent) from the revised November level. Total inventories were down 1.6 percent (±0.9 percent)from the revised December 2019 level. The November 2020 to December 2020 percent change was revised from the advance estimate of up 0.1 percent (±0.4 percent) to up 0.3 percent (±0.4 percent).

Inventories/Sales Ratio 

The December inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.29. The December 2019 ratio was 1.34.