U.S. retail inventories excluding autos rose 0.4% in September 2026, marking a clear uptick after remaining flat in the previous month. The indicator had held at 0.0% in August 2026, but the latest data, updated on 28 October 2026, point to a modest rebuilding of stock levels across the retail sector once motor vehicles are stripped out.
The shift from stagnation to growth suggests retailers may be preparing for firmer demand or working to restore lean inventories after a period of caution. As inventories ex auto are closely monitored for signals on future production and supply-chain dynamics, September’s increase could feed into expectations for a slightly stronger contribution from stockpiling to near-term U.S. economic activity.
Market participants and analysts will be watching upcoming releases to see whether this 0.4% rise becomes the start of a sustained restocking trend or remains a one-off adjustment following August’s flat reading. For now, the September data underscore a tentative move away from inventory stagnation in a key segment of the U.S. retail sector.