The U.S. Commerce Department released wholesale inventories on Thursday. Wholesale inventories in the U.S. fell 0.1% in July, beating expectations for a 0.3% gain, after a 0.9% increase in June. It was the first decline since May 2013.

June's figure was revised down from a 0.9% rise.

The decrease was partly driven by a drop in inventories of non-durable goods. Inventories of non-durable goods declined 0.5% in July, while inventories of durable goods gained 0.1%.

Wholesale sales fell by 0.3% in July, after a 0.4% rise in June.