The U.S. Census Bureau released its monthly wholesale trade report for April on June 9, showing another monthly increase in industry sales that topped the agency’s original estimate, but at a continued slowing pace after a strong start to the year.

The figure showed that April sales of merchant wholesalers — except manufacturers’ sales branches and officers, after adjustments or season variations and trading difference but not for price changes — were $700.2 billion. That was up 0.1% from the revised March figure and up 6.0% year-over-year.

The March percent change was revised from the preliminary estimate of +0.6% to up 0.8%.

April’s monthly figure was a further deceleration that likely reflects tariff-driven macroeconomic uncertainty after a robust start to the year as manufacturers and distributors frontloaded on orders of goods before higher import fees were enacted.

March durable goods wholesale trade sales ticked up 0.2% month-over-month (+0.8% in March and increased 6.0% year-over-year, while nondurable goods sales likewise increased 0.1% month-over-month and increased 3.8% year-over-year.

Here’s how seasonally adjusted wholesale trade sales of durable and nondurable goods fared in April on both a month-over-month basis and year-over-year.

Inventories

The report showed that total inventories for merchant wholesalers ended April at $908.7 billion, up 0.2% month-over-month. Year-over-year, April inventories were up 2.3%. The March percent change was revised from the preliminary estimate of unchanged to up 0.2%.

U.S. Wholesale Inventories Month-Over-Month

source: tradingeconomics.com

Inventories/Sales Ratio

The April inventories/sales ratio for merchant wholesalers held at 1.30 for a third straight month.