Total inventories of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations but not for price changes, were $612.1 billion at the end of December, up 0.4 percent from the revised November level. Total inventories were up 3.4 percent from the revised December 2016 level. The November 2017 to December 2017 percent change was revised from the advance estimate of up 0.2 percent to up 0.4 percent.

The December inventories/sales ratio for merchant wholesalers, except manufacturers' sales branches and offices, based on seasonally adjusted data, was 1.22. The December 2016 ratio was 1.29.