July 2023 wholesale revenues, except manufacturers’ sales branches and offices, were $648.1 billion, up 0.8% from the revised June level, but were down 4.2% from the revised July 2022 level.
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Total inventories were $902.3 billion at the end of July, down 0.2% from the revised June level. Total inventories were up 0.5% from the revised July 2022 level.
The July inventories/sales ratio for wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.39. The July 2022 ratio was 1.33.
