US Business Inventory Growth Softer-than-Expected

US business inventories rose by 0.1% month-over-month in November 2025, following a 0.2% advance in October and slightly below analysts' estimates of a 0.2% increase. Stocks went up at merchant wholesalers (0.2% vs 0.2% in October) and manufacturers (0.1% vs 0%), but declined at retailers (-0.1% vs 0.5%). On a yearly basis, total business inventories increased by 1.2% in November.

US business inventories increased 0.3% month-over-month in October 2025, marking the fastest growth since January 2025 and exceeding market expectations of 0.2%. This follows an upwardly revised 0.3% gain in September. Retailer inventories led the increase, climbing 0.6%, up from 0.5% the previous month. Manufacturers’ inventories remained flat after a 0.1% decline in September, while wholesale inventories rose 0.2%, moderating from a 0.5% gain. On a year-over-year basis, total business inventories grew 1.4% in October.

US business inventories rose 0.2% month-over-month in September 2025, after remaining flat in August and matching market estimates. Wholesale inventories led the rise with a 0.5% rebound from a 0.1% decline, while retailer stocks increased 0.4% following no change in August. Conversely, manufacturers' inventories edged down by 0.1%, matching the pace seen in August. On a yearly basis, total business inventories rose by 1.2% in September.