The U.S. Census Bureau released its advance statistics for international trade, wholesale inventories and retail inventories for May on June 26, showing a decline month-over-month for wholesale inventories that missed market expectations.

Wholesale inventories — adjusted for seasonal and trading day difference, but not for price — ended May at $905.4 billion, down 0.3% from April but up 1.4% year-over-year. The March to April 2025 percentage change was revised from the preliminary estimate of up 0.2% to up 0.1%.

Economists polled by national news outlets had forecast a monthly May increase of 0.1% to 0.2%.

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Retail inventories ended the month up 0.3% from April at $806.6 billion. That figure was up 3.2% year-over-year. The April monthly change was unrevised from its preliminary estimate of unchanged.

The Bureau reported the U.S. international trade deficit was $96.6 billion in May, up $9.6 billion from $87.0 billion in April. Exports of goods for May were $179.2 billion, $9.7 billion less than April exports. Imports of goods were $275.8 billion, $0.1 billion less than April imports.

The June 2025 advance report for wholesale and retail inventories is scheduled to be released July 29.

U.S. Wholesale Inventories Month-Over-Month

source: tradingeconomics.com