February 9, 2022
Sales
After adjusting for seasonal variations and trading day variances but not for pricing adjustments, December 2021 merchant wholesaler sales were $634.6 billion, up 0.2% (±0.4%)* from the revised November level and up 21.8% (±1.9%) from the revised December 2020 level. The percent change from October 2021 to November 2021 was updated from a preliminary estimate of up 1.3% (±0.5%) to up 1.7% (±0.5%).
Inventories
Total merchant wholesaler inventories, excluding manufacturers’ sales branches and offices, were $790.8 billion at the end of December, up 2.2% (±0.4%) from the revised November figure, after adjusting for seasonal variations and trading day differences but not for price adjustments. Total inventories increased by 18.5% (±1.6%) compared to the revised December 2020 level. The percent change from November 2021 to December 2021 was updated from an earlier estimate of up 2.1% (±0.4%) to up 2.2% (±0.4%).
Inventories/Sales Ratio
Based on seasonally adjusted data, the December inventories/sales ratio for merchant wholesalers, excluding manufacturers’ sales branches and offices, was 1.25. The ratio in December 2020 was 1.28.
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