Wholesale trade improved in February compared to the same month a year ago but was down from the previous month of January, according to the latest report from the U.S. Census Bureau.

February 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 $538.3 billion, up 6.4% from the revised February 2020 level but down 0.8% from the revised January level. The December 2020 to January 2021 percent change was revised from the preliminary estimate of up 4.9% to up 4.4%.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences, but not for price changes, were $682.5 billion at the end of February, up 0.6% from the revised January level. Total inventories were up 2% from the revised February 2020 level. The January 2021 to February 2021 percent change was revised from the advance estimate of up 0.5% to up 0.6%.

The February inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.27. The February 2020 ratio was 1.32.