- U.S. wholesale inventories increase more than forecast in May
Market news
9 July 2021
U.S. wholesale inventories increase more than forecast in May
The
Commerce Department announced on Friday the U.S. wholesale inventories rose 1.3
percent m-o-m in May, being higher than the preliminary estimate of a 1.1
percent m-o-m increase. This was the biggest monthly gain since January.
Economists
had forecast the reading to stay unrevised at 1.1 percent m-o-m.
In April,
wholesale inventories rose 1.1 percent m-o-m (revised from 1.0 percent).
According
to the report, durable goods inventories increased 1.2 percent m-o-m in May,
while stocks of nondurable goods jumped 1.5 percent m-o-m.
In y-o-y terms, wholesale inventories surged 8.2 percent in May.
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