Retail inventories excluding autos in the United States were unchanged in November 2025, holding at a 0.2% increase, the same pace recorded in October 2025. The latest figures, updated on 10 February 2026, indicate that retailers maintained a consistent approach to stock levels heading into the key year-end shopping period.
The steady 0.2% reading suggests that businesses have avoided both aggressive stockpiling and significant drawdowns, potentially reflecting cautious optimism about consumer demand. With inventories ex-auto often watched as a gauge of underlying retail conditions, the lack of change from October to November points to a period of stability rather than sharp adjustment in supply chains or ordering patterns.
