AI Data Insight
In July 2026 (Q3 2026), the US non-seasonally adjusted retailers' inventory-to-sales ratio rebounded sharply to 1.33, a significant increase from 1.22 in the previous month [1]. This data jump primarily reflects retailers scrambling to expand imports before the end of July and stock up early for the second-half peak season to avoid the impending new Section 301 tariffs [1]. Going forward, close attention must be paid to whether US consumption momentum is sufficient to smoothly digest this massive preemptively built inventory [2].