Charts: U.S. Wholesale Trends Q1 2024

The U.S. Census Bureau gathers monthly data on sales and inventories from domestic wholesale firms. The “Monthly Wholesale Trade” survey includes B2B merchants, distributors, exporters, and importers but excludes manufacturers, refiners, and miners selling their own products.

According to the Census Bureau, the survey “offers business leaders and policymakers a current assessment of the nation’s economic status and plays a vital role in estimating the quarterly gross domestic product.”

U.S. wholesale revenue in February 2024 (PDF) stood at $673.7 billion, up from $658.4 billion from the previous month and $669.3 billion in February 2023, an increase of 2.3% and 0.6%, respectively.

Wholesale inventories are the stock of unsold goods. Inventories are a key component of gross domestic product changes. A high inventory count points to an economic slowdown, while a low number indicates stronger growth.

U.S. wholesale inventories for February 2024 were $901.1 billion, slightly higher than $896.5 billion in January and down from $918.8 billion one year ago.

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According to the data, U.S. wholesale inventories dropped by 0.4% month over month in March 2024.

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Furthermore, as of March 2024, about 6.2 million people worked in the wholesale trade industry in the United States.

Charts: Investment Trends in Operations Q1 2024

Most U.S. operations and supply chain officers say technology investments haven’t delivered the expected results. That’s according to PwC’s 2024 “Digital Trends in Operations Survey.”

PwC, the accounting and consulting firm, surveyed 600 operations and supply chain executives in the U.S. in January and February 2024 across consumer markets, energy, utilities, mining, health services, pharmaceuticals, industrial products, and technology and telecommunications. The survey revealed a notable difference between the executives’ expectations of new technology and the actual outcomes.

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Most survey respondents say their companies are somewhat involved in generative AI.

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Growth and cost reduction remain top priorities for respondents seeking digital operations solutions. Yet many cite a lack of investment objectives, which could have long-term impacts.

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Regulatory priorities such as cybersecurity and data privacy drive many decisions when investing in operations and supply chain technology.