U.S. wholesale sales increased 19.8% in September from a year earlier, led by strong gains among industrial equipment, metals, and electrical products distributors, according to data released Nov. 9 by the U.S. Census Bureau.

Total wholesale sales reached $840.1 billion, up 2.8% from August. Inventories increased at a slower pace, rising 0.7% from August and 7.6% from September 2025 to $1.013 trillion.

The difference between sales and inventory growth reduced the industry’s inventory-to-sales ratio to 1.21, down from 1.34 a year earlier. The ratio measures how many months of merchandise distributors hold at their current sales pace.

Read more about this trend at Distribution Strategy Group.