The Commerce
Department said on Thursday its final estimates revealed that the U.S.
wholesale inventories went up 0.2 per cent m-o-m in June, matching the preliminary estimate. This
marked the third straight monthly gain in wholesale inventories.
Economists had forecast
the reading to remain unrevised at +0.2 per cent m-o-m.
In May,
wholesale inventories jumped 0.5 per
cent m-o-m (revised from +0.6 per cent m-o-m).
According to
the report, durable goods
inventories slipped 0.1 per cent m-o-m in June, reflecting declines in 5 out
of 9 durable industries, driven by Professional equipment (-2.2 per cent
m-o-m), metals (-1.8 per cent m-o-m), and furniture (-0.6 per cent m-o-m). Meanwhile,
stocks of nondurable goods surged by 0.7 per cent m-o-m, undermined by advances
in 6 out of 9 nondurable businesses, led by petroleum (+3.8 per cent m-o-m)
and chemicals (+1.1 per cent m-o-m).
In y-o-y terms, wholesale inventories edged up
0.1 per cent in June.