FOR RELEASE AT 10:00 AM EDT, TUESDAY, APRIL 21, 2026 MANUFACTURING AND TRADE INVENTORIES AND SALES, FEBRUARY 2026 Release Number: CB26-64 April 21, 2026 — The U.S. Census Bureau announced the following new manufacturing and trade statistics for February 2026: Total Business Inventories / Sales Ratios: 2017 to 2026 BUSINESS INVENTORIES 1.80 1.75 1.70 1.65 FEBRUARY 2026 $2,686.8 billion +0.4% 1.60 1.55 JANUARY 2026 1.50 $2,676.9 billion 0.0%* 1.45 (revised) 1.40 1.35 Next release: May 14, 2026 1.30 1.25 * The 90 percent confidence interval includes zero. There is insufficient evidence 1.20 to conclude that the actual change is different from zero. 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Data adjusted for seasonality but not price changes. Source: U.S. Census Bureau, Manufacturing and Trade Inventories and Sales, April 21, 2026. Source: U.S. Census Bureau, Manufacturing and Trade Inventories and Sales, (Data adjusted for seasonal, holiday and trading day differences but not for price changes) April 21, 2026. Sales The combined value of distributive trade sales and manufacturers’ shipments for February, adjusted for seasonal and trading day differences but not for price changes, was estimated at $2,014.8 billion, up 1.7 percent (±0.2 percent) from January 2026 and was up 5.5 percent (±0.5 percent) from February 2025. Inventories Manufacturers’ and trade inventories for February, adjusted for seasonal and trading day differences but not for price changes, were estimated at an end-of-month level of $2,686.8 billion, up 0.4 percent (±0.1 percent) from January 2026 and were up 1.3 percent (±0.4 percent) from February 2025. Inventories/Sales Ratio The total business inventories/sales ratio based on seasonally adjusted data at the end of February was 1.33. The February 2025 ratio was 1.39. Data Inquiries Media Inquiries Economic Indicators Division Public Information Office Retail: 301-763-2713 eid.retail.indicator.branch@census.gov 301-763-3030 Wholesale: 301-763-6856 eid.wholesale.indicator.branch@census.gov pio@census.gov Manufacturing: 301-763-4832 eid.m3.qs@census.gov General Information Release Schedule The March 2026 Manufacturing and Trade Inventories and Sales Report is scheduled for release on May 14, 2026. View the full schedule in the Economic Briefing Room: . To facilitate a faster return to the normal processing and release schedule following the lapse in funding, there was not an Advance Economic Indicator Report issued for February 2026. Special Notice The Annual Retail Trade Survey (ARTS) and the Annual Wholesale Trade Survey (AWTS) have transitioned to the Annual Integrated Economic Survey (AIES). As a result of this transition and the associated changes to data processing and integration, the Annual Revision Reports for the Monthly Retail Trade Survey (MRTS) and the Monthly Wholesale Trade Survey (MWTS) will be delayed. Updated release schedules will be provided once they become available. Due to schedule and resource constraints, revised historical data and the seasonal adjustment models for the Manufacturers' Shipments, Inventories, and Orders (M3) Survey will remain unchanged for the remainder of 2026. EXPLANATORY NOTES Statement Regarding Natural Disasters For information on the impact of natural disasters on the compilation of this report, please see and . Reliability of Estimates The sampling variability for retailers and merchant wholesalers can be used to construct a 90 percent confidence interval for the estimates. Over all possible samples, 90 percent of such intervals will cover the true estimate. These intervals are given in parentheses for the estimates on the front page. If, for example, the estimate is up 0.8 percent and the margin of sampling error is ±1.2 percent, the 90 percent confidence interval is -0.4 percent to +2.0 percent. If the range contains 0, it is uncertain whether there was an increase or decrease. Measures of reliability for Retail and Wholesale sales and inventory levels and changes are included in the detailed monthly press releases for those Industries. Manufacturers do not contribute to estimates of sampling variability because the manufacturer’s mail panel is not a probability sample from a known frame and standard errors of the industry estimates cannot be calculated. Estimates from all three surveys are also subject to nonsampling errors, which can arise in any stage of the survey. Such errors include coverage error (failure to accurately represent all population units in the sample) response errors, coding errors, and Data Inquiries Media Inquiries Economic Indicators Division Public Information Office Retail: 301-763-2713 eid.retail.indicator.branch@census.gov 301-763-3030 Wholesale: 301-763-6856 eid.wholesale.indicator.branch@census.gov pio@census.gov Manufacturing: 301-763-4832 eid.m3.qs@census.gov nonresponse. Although no direct measurement of these errors has been obtained, precautionary steps were taken in all phases of the collection, processing, and tabulation of the data to minimize their influence. Description of the Survey The Manufacturing and Trade Inventories and Sales estimates are based on data from three surveys: the Monthly Retail Trade Survey, the Monthly Wholesale Trade Survey, and the Manufacturers’ Shipments, Inventories, and Orders Survey. Data for the wholesale and manufacturing sectors are unrevised from the most recent Monthly Wholesale Trade Report and the Full Report on Manufacturers’ Shipments, Inventories and orders. Data from the Retail sector is revised and presented in more detail from the most recent Advance Economic Indicators Report. For more information on these surveys see the links below: , , and . The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data, (Project No. P-7504206, Disclosure Review Board (DRB) approval number: CBDRB‑FY26‑003), (Project No. 7503922, Disclosure Review Board (DRB) approval number: CBDRB-FY26-005), (Project No. P-6000307, Disclosure Review Board (DRB) approval number: CBDRB-FY26- 0151). RESOURCES API The Census Bureau’s application programming interface lets developers create custom apps to reach new users and makes key statistics more accessible than ever before. FRED Mobile App Receive the latest updates on the nation’s key economic indicators by downloading the FRED App for both Apple and Android devices. FRED, the signature database of the Federal Reserve Bank of St. Louis, now incorporates the Census Bureau’s 13 economic indicators. ### * The 90 percent confidence interval includes zero. There is insufficient evidence to conclude that the actual change is different from zero. Data Inquiries Media Inquiries Economic Indicators Division Public Information Office Retail: 301-763-2713 eid.retail.indicator.branch@census.gov 301-763-3030 Wholesale: 301-763-6856 eid.wholesale.indicator.branch@census.gov pio@census.gov Manufacturing: 301-763-4832 eid.m3.qs@census.gov Table 1. Estimated Monthly Sales and Inventories for Manufacturers, Retailers, and Merchant Wholesalers (In millions of dollars) Sales Inventories Inventories/Sales Ratios Feb. 2026 Jan. 2026 Feb. 2025 Feb. 2026 Jan. 2026 Feb. 2025 Feb. 2026 Jan. 2026 Feb. 2025 (p) (r) (r) (p) (r) (r) (p) (r) (r) Adjusted1 Total business……………………… 2,014,808 1,981,191 1,910,029 2,686,792 2,676,882 2,653,219 1.33 1.35 1.39 Manufacturers²…………………… 623,243 614,476 602,132 950,492 949,640 943,013 1.53 1.55 1.57 Retailers……………………………… 639,691 634,949 616,636 816,723 815,340 807,065 1.28 1.28 1.31 Merchant wholesalers⁴………… 751,874 731,766 691,261 919,577 911,902 903,141 1.22 1.25 1.31 Not Adjusted Total business……………………… 1,825,439 1,829,429 1,726,821 2,691,228 2,666,718 2,660,085 1.47 1.46 1.54 Manufacturers²…………………… 582,960 564,713 559,237 954,233 946,621 947,420 1.64 1.68 1.69 Retailers……………………………… 563,690 582,287 543,970 808,898 801,146 801,781 1.44 1.38 1.47 Merchant wholesalers⁴………… 678,789 682,429 623,614 928,097 918,951 910,884 1.37 1.35 1.46 (p) Preliminary estimate. (r) Revised estimate. Data adjusted for seasonality and trading day differences, but not for price changes. Explanations of confidence intervals and sampling variability can be found on our website at . Source: U.S. Census Bureau, Manufacturing and Trade Inventories and Sales, April 21, 2026. Table 2. Percent Changes for Sales and Inventories -- Manufacturers, Retailers, and Merchant Wholesalers Adjusted Not Adjusted Sales Inventories Sales Inventories Feb. 26/ Jan. 26/ Feb. 26/ Feb. 26/ Jan. 26/ Feb. 26/ Feb. 26/ Jan. 26/ Feb. 26/ Feb. 26/ Jan. 26/ Feb. 26/ Jan. 26 Dec. 25 Feb. 25 Jan. 26 Dec. 25 Feb. 25 Jan. 26 Dec. 25 Feb. 25 Jan. 26 Dec. 25 Feb. 25 Total business………………………… 1.7 0.6 5.5 0.4 0.0 1.3 -0.2 -11.7 5.7 0.9 0.7 1.2 Manufacturers2……………………… 1.4 0.7 3.5 0.1 0.1 0.8 3.2 -7.0 4.2 0.8 2.0 0.7 Retailers………………………………… 0.7 0.0 3.7 0.2 0.3 1.2 -3.2 -18.8 3.6 1.0 0.0 0.9 Merchant wholesalers4…………… 2.7 1.1 8.8 0.8 -0.3 1.8 -0.5 -8.9 8.8 1.0 0.0 1.9 See footnotes and notes at the end of Table 3. Data adjusted for seasonality and trading day differences, but not for price changes. Explanations of confidence intervals and sampling variability can be found on our website at . Source: U.S. Census Bureau, Manufacturing and Trade Inventories and Sales, April 21, 2026. Table 3. Estimated Monthly Retail Sales, Inventories, and Inventories/Sales Ratios, By Kind of Business (In millions of dollars) Sales Inventories Percent Change Inventories/Sales NAICS Kind of Business In Inventories Ratios Code Feb. 2026 Jan. 2026 Feb. 2025 Feb. 2026 Jan. 2026 Feb. 2025 Feb. 26/ Jan. 26/ Feb. 26/ Feb. 26 Jan. 26 Feb. 25 (p) (r) (r) (p) (r) (r) Jan. 26 Dec. 25 Feb. 25 (p) (r) (r) Adjusted 1 Retail trade, total……………………………………………………………… 639,691 634,949 616,636 816,723 815,340 807,065 0.2 0.3 1.2 1.28 1.28 1.31 Total (excl. motor veh. & parts)……………………………………… 500,706 497,330 482,824 557,950 556,413 547,887 0.3 0.3 1.8 1.11 1.12 1.13 441 Motor vehicle & parts dealers…………………………………………..… 138,985 137,619 133,812 258,773 258,927 259,178 -0.1 0.1 -0.2 1.86 1.88 1.94 442,3 Furniture,home furn., elect. & appl. stores…………………………… 18,973 18,927 19,092 30,294 30,355 29,131 -0.2 0.6 4.0 1.60 1.60 1.53 444 Building materials, garden equip & supplies………………………… 41,312 41,065 39,683 87,399 87,497 82,993 -0.1 1.2 5.3 2.12 2.13 2.09 445 Food & beverage stores…………………………………………..…………… 83,967 84,988 84,458 64,442 63,432 62,190 1.6 -0.7 3.6 0.77 0.75 0.74 448 Clothing & clothing access. stores…………………………………..…… 27,829 27,080 25,599 58,330 58,458 58,419 -0.2 0.0 -0.2 2.10 2.16 2.28 452 General merchandise stores…………………………………………..…… 77,778 77,802 76,837 97,314 97,138 98,380 0.2 0.3 -1.1 1.25 1.25 1.28 4522 Department stores…………………………………………..……………… 3,157 3,049 3,318 8,640 8,680 8,980 -0.5 0.7 -3.8 2.74 2.85 2.71 Not Adjusted Retail trade, total…………………………………………..…………………… 563,690 582,287 543,970 808,898 801,146 801,781 1.0 0.0 0.9 1.44 1.38 1.47 Total (excl. motor veh. & parts)……………………………………… 437,163 459,172 421,794 549,989 542,417 540,605 1.4 0.4 1.7 1.26 1.18 1.28 441 Motor vehicle & parts dealers…………………………………………..… 126,527 123,115 122,176 258,909 258,729 261,176 0.1 -0.7 -0.9 2.05 2.10 2.14 442,3 Furniture,home furn., elect. & appl. stores…………………………… 16,966 17,369 17,074 29,567 29,414 28,432 0.5 -0.2 4.0 1.74 1.69 1.67 444 Building materials, garden equip & supplies………………………… 32,784 33,736 31,549 89,497 86,797 84,902 3.1 4.0 5.4 2.73 2.57 2.69 445 Food & beverage stores…………………………………………..…………… 75,943 84,536 76,398 63,426 62,841 61,285 0.9 -3.2 3.5 0.84 0.74 0.80 448 Clothing & clothing access. stores…………………………………..…… 22,444 20,522 20,653 57,222 55,477 57,309 3.1 1.8 -0.2 2.55 2.70 2.77 452 General merchandise stores………………………………………………… 67,546 71,911 66,830 94,541 92,803 95,910 1.9 0.2 -1.4 1.40 1.29 1.44 4522 Department stores…………………………………………..……………… 2,374 2,009 2,525 8,173 7,795 8,477 4.8 3.8 -3.6 3.44 3.88 3.36 (p) Preliminary estimate. (r) Revised estimate. 1 Adjusted for seasonal variations, trading day differences, and, in the case of sales, for holiday variations. Concurrent seasonal adjustment is being used to adjust all sales, shipment and inventory estimates. Concurrent seasonal adjustment uses all available unadjusted estimates as input to the X-13ARIMA-SEATS program. The factors derived from the program are applied to the current and previous month estimates and for retail and wholesale estimates a year ago as well. For retail sales, concurrent seasonal adjustment is also used to adjust the advance estimates (published one month before the preliminary estimates) and the estimates one year before the advance month. This explains the revision to retail estimates from a year ago. 2 Manufacturers sales refer to the value of shipments by manufacturers. The shipments data from individual manufacturers are adjusted prior to tabulation for the number of trading days as well as for any variations in the length of the reporting period. 4 The 2017 North American Industry Classification System (NAICS) defines merchant wholesalers as including manufacturers' sales branches and offices. However, the estimates included in this release exclude manufacturers' sales branches and offices. Note that this is not a change in coverage from prior releases and is consistent with the description used in the Monthly Wholesale Trade Survey data products. Data adjusted for seasonality and trading day differences, but not for price changes. Explanations of confidence intervals and sampling variability can be found on our website at . Estimates include data only for businesses with paid employees. Prior to the benchmark report released in April 2025, the monthly retail estimates that were released in the Manufacturing and Trade Inventories and Sales estimates included nonemployers. Source: U.S. Census Bureau, Manufacturing and Trade Inventories and Sales, April 21, 2026.