Retail inventories excluding autos in the United States grew by 0.3% in January 2026, easing slightly from a 0.4% increase previously recorded in February 2026. The latest figure, updated on 1 April 2026, points to a modest deceleration in inventory accumulation outside the automotive sector.
The shift from 0.4% to 0.3% suggests retailers are still building stock, but at a slightly slower pace. While the data alone do not indicate a sharp change in retail conditions, the softer growth in inventories ex-auto may reflect a more cautious approach to restocking as businesses assess demand and cost pressures early in 2026.