January 2022 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 $663.9 billion, up 4.0 percent (±0.5 percent) from the revised December level and were up 22.4 percent (±1.6 percent) from the revised January 2021 level. The November 2021 to December 2021 percent change was revised from the preliminary estimate of up 0.2 percent (±0.4 percent)* to up 0.8 percent (±0.4 percent).

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 $799.9 billion at the end of January, up 0.8 percent (±0.2 percent) from the revised December level. Total inventories were up 18.1 percent (±1.4 percent) from the revised January 2021 level. The December 2021 to January 2022 percent change was unrevised from the advance estimate of up 0.8 percent (±0.2 percent).

The January Inventories/Sales Ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.20. The January 2021 ratio was 1.25.