Charts: U.S. Wholesale Trends Q1 2024

The U.S. Census Bureau gathers monthly data on sales and inventories from domestic wholesale firms. The “Monthly Wholesale Trade” survey includes B2B merchants, distributors, exporters, and importers but excludes manufacturers, refiners, and miners selling their own products.

According to the Census Bureau, the survey “offers business leaders and policymakers a current assessment of the nation’s economic status and plays a vital role in estimating the quarterly gross domestic product.”

U.S. wholesale revenue in February 2024 (PDF) stood at $673.7 billion, up from $658.4 billion from the previous month and $669.3 billion in February 2023, an increase of 2.3% and 0.6%, respectively.

Wholesale inventories are the stock of unsold goods. Inventories are a key component of gross domestic product changes. A high inventory count points to an economic slowdown, while a low number indicates stronger growth.

U.S. wholesale inventories for February 2024 were $901.1 billion, slightly higher than $896.5 billion in January and down from $918.8 billion one year ago.

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According to the data, U.S. wholesale inventories dropped by 0.4% month over month in March 2024.

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Furthermore, as of March 2024, about 6.2 million people worked in the wholesale trade industry in the United States.