Economic Trends

U.S. Wholesale Inventories Unexpectedly Slide in May

U.S. wholesale inventories fell in May, missing forecasts, as the trade deficit widened and retail inventories edged higher.

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%.

In the Store: MDM’s U.S. MRO Market Trends Report

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.