U.S. Wholesale Inventories Inch Up Less Than Expected In June
(RTTNews) - Wholesale inventories in the U.S. crept up by less than expected in the month of June, according to a report released by the Commerce Department on Thursday.
The Commerce Department said wholesale inventories inched up by 0.1 percent in June after falling by 0.3 percent in May. Economists had expected wholesale inventories to rise by 0.2 percent, in line with the preliminary estimate.
The modest increase by wholesale inventories came as inventories of durable goods and non-durable goods both edged up by 0.1 percent.
Meanwhile, the report said wholesale sales rose by 0.3 percent in June following a 0.4 percent decrease in the previous month.
Sales of durable goods climbed by 0.5 percent during the month, while sales of non-durable goods crept up by 0.1 percent.
The Commerce Department said the inventories/sales ratio for merchant wholesalers came in at 1.30 in June, unchanged from May.
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