Economic Buzz: US Wholesale Inventories Rise 0.6% In July

12 Sep 2022 , 08:57 AM

Wholesale inventories in the U.S. increased by less than expected in the month of July, according to a report released by the Commerce Department. Wholesale inventories rose by 0.6 percent in July after surging by 1.8 percent in June. The smaller than expected advance in wholesale inventories came as a 1.0 percent jump in inventories of durable goods was partly offset by a 0.1 percent dip in inventories of non-durable goods. Sales of non-durable goods plunged by 3.2 percent, more than offsetting a 0.6 percent increase in sales of durable goods. With inventories rising and sales slumping, the inventories/sales ratio for merchant wholesalers climbed to 1.29 in July from 1.26 in June. Powered by Commodity Insights