Wholesale trade improved in January compared to the same month a year ago and with December, according to the latest report from the U.S. Census Bureau.

January 2021 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 $531.7 billion, up 5.9% from the revised January 2020 level and up 4.9% from the revised December 2020 level. The November 2020 to December 2020 percent change was revised from the preliminary estimate of up 1.2% to up 1.9%.

Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations but not for price changes, were $661.7 billion at the end of January, up 1.3% from the revised December level. Total inventories were up 0.6% from the revised January 2020 level. The December 2020 to January 2021 percent change was unrevised from the advance estimate of up 1.3%.

The January inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.24. The January 2020 ratio was 1.31.