Sales of merchant wholesalers — except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes — in May were $650.2 billion, down 0.2% from the revised April level and down 4.0% from the revised May 2022 level.

The March 2023 to April 2023 percent change was revised from the preliminary estimate of up 0.2% to “virtually unchanged,” according to data released July 10 from the U.S. Census Bureau.

Total inventories of merchant wholesalers — except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes — were $913.7 billion at the end of May, “virtually unchanged” from the revised April level. Total inventories were up 3.7% from the revised May 2022 level. The April 2023 to May 2023 percent change was revised from the advance estimate of down 0.1% to “virtually unchanged,” according to the data.

The May inventories/sales ratio for merchant wholesalers — except manufacturers’ sales branches and offices, based on seasonally adjusted data — was 1.41. The May 2022 ratio was 1.30.