Economic Calendar: July Business Inventories Rise 0.8%
Census data show total business inventories of $2,764.7 billion in July, up 0.8% from June, while sales rose 0.3% to $2,120.7 billion.
| Item | July 2026 | Change from June |
|---|---|---|
| Total business inventories | $2,764.7 billion | +0.8% (+/- 0.1) |
| Total business sales | $2,120.7 billion | +0.3% (+/- 0.2) |
| June inventories change (revised) | n/a | +0.1% |
U.S. total business inventories ended July at $2,764.7 billion, up 0.8 percent from June, the Census Bureau reported in its Manufacturing and Trade Inventories and Sales release. Total business sales were $2,120.7 billion, up 0.3 percent. Stockpiles grew faster than sales in the month.
Inventories outpace sales
The 0.8 percent inventory gain is well above the revised 0.1 percent change for June, which the release flags as not statistically significant. Sales rose by less than half the inventory pace. The release puts the total business inventories/sales ratio at 1.30 at the end of July, down from 1.37 in July 2025. The ratio edges up when stock builds faster than sales.
Margins of error are narrow: plus or minus 0.1 percentage point on inventories and 0.2 on sales, so both July moves are outside the noise.
What the report combines
The estimates come from three surveys: the Monthly Retail Trade Survey, the Monthly Wholesale Trade Survey, and the Manufacturers’ Shipments, Inventories, and Orders Survey. The Census Bureau calls the report the only source of monthly data on total business activity across retail, wholesale and manufacturing. For readers of the economic calendar, it gives an early read on whether businesses are building stock ahead of demand.
Revisions ahead
The agency says monthly retail and wholesale estimates are expected to be revised for historical corrections and the results of the 2023 and 2024 Annual Integrated Economic Survey. Revised not adjusted estimates are tentatively scheduled for September 28, and adjusted estimates for October 26. Retail revisions are to appear in the August MTIS release on October 15, and wholesale revisions in the September release on November 17.
A separate notice says revised historical data and seasonal adjustment models for the manufacturers’ survey will stay unchanged for the rest of 2026.
Next on the calendar
The August report is scheduled for October 15, and it will carry the retail revisions.
What the gap means
When inventories rise faster than sales for a month, the cause can be planned restocking or goods that did not sell as expected. The release does not say which. Analysts typically watch the trend across several months rather than one print, and the scheduled revisions mean the history may shift before long.
Prepared with AI assistance from public sources and reviewed under our editorial policy. Not investment advice.
