Advance Merchant Wholesale Inventories month-over-month change
U.S. Wholesale Inventories MoM measures the monthly change in goods held in stock by merchant wholesalers. It shows whether wholesalers are building or drawing down inventories.
Overview
The U.S. Census Bureau measures wholesale inventories through the Monthly Wholesale Trade Survey, covering merchant wholesalers and excluding manufacturers' sales branches and offices. The 8:30 a.m. release on this calendar date aligns with the Advance Economic Indicators Report, which publishes early estimates of wholesale inventories before the fuller monthly wholesale trade report. The MoM figure is the percent change from the prior month, typically using seasonally adjusted estimates.
Why traders watch it
Traders watch inventories because they feed into GDP tracking, signal supply-demand balance and can affect expectations for production, orders and future growth.
How to interpret the result
A stronger-than-expected inventory build may indicate resilient demand expectations or unsold stock accumulation, depending on sales trends. A weaker-than-expected build or decline may suggest leaner inventories or softer ordering, so the inventories-to-sales context matters.