The data is after adjustment for seasonal variations and trading day differences, but not for price changes.
The Census Bureau conducts a monthly wholesale trade survey in order to provide an up-to-date indication of sales and inventory trends for U.S. merchant wholesalers, excluding manufacturers' sales branches and offices.
The survey is considered to be a reliable measure of current economic activity.
Information requested in the survey includes monthly sales reports, end-of-month inventories, number of establishments covered by the report, and the ending date of the reporting period.