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09.09.2024

U.S. wholesale inventories increase slightly less than initially estimated in July

The Commerce Department announced on Monday its final estimates showed that the U.S. wholesale inventories increased 0.2 per cent m-o-m in July, being marginally worse than the preliminary estimate of a 0.3 per cent m-o-m rise. 

Economists had expected the reading to stay unrevised at +0.3 per cent m-o-m.

In June, wholesale inventories were flat m-o-m (revised from +0.1 per cent m-o-m).

According to the report, durable goods inventories edged up 0.1 per cent m-o-m in July, as surges in the Professional equipment (+1.3 per cent m-o-m), Automotive (+1.0 per cent m-o-m) and Electrical (+0.5 per cent m-o-m) businesses offset decreases in the remaining 6 other durable industries

Meanwhile, stocks of nondurable goods jumped by 0.5 per cent m-o-m, as gains in Drugs (+2.5 per cent m-o-m), Miscellaneous Nondurables (+0.8 per cent m-o-m) and Apparel (+0.1 per cent m-o-m) more than offset declines in the remaining 6 nondurable businesses.

In y-o-y terms, wholesale inventories increased 0.4 per cent in July. 

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