Total inventories of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations but not for price changes, were $591.0 billion at the end of April, down 0.5 percent (±0.2 percent) from the revised March level. Total inventories were up 1.6 percent (±1.1 percent) from the revised April 2016 level. The March 2017 to April 2017 percent change was revised from the advance estimate of down 0.3 percent (±0.4 percent)* to down 0.5 percent (± 0.2 percent).

The April inventories/sales ratio for merchant wholesalers, except manufacturers' sales branches and offices, based on seasonally adjusted data, was 1.28. The April 2016 ratio was 1.35.