Wholesale trade declined slightly in September compared to the same month a year ago but improved slightly over August, according to the latest report from the U.S. Census Bureau.

September 2020 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 $486 billion, down 2.3% from the revised September 2019 level but up 0.1% from the revised August level. The July 2020 to August 2020 percent change was revised from the preliminary estimate of up 1.4% to up 1.2%.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $638.5 billion at the end of September, down 3.9% from the revised September 2019 level but up 0.4% from the revised August level. The August 2020 to September 2020 percent change was revised from the advance estimate of down 0.1% to up 0.4%.

The September inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.31. The September 2019 ratio was 1.33.