The Commerce Department said on Wednesday the U.S. wholesale inventories increased 0.4 percent m-o-m in May, following a revised 0.9 percent m-o-m gain in April (originally a 0.8 percent m-o-m advance).

Economists had forecast wholesale inventories growing 0.6 percent m-o-m in May.

On a y-o-y basis, wholesale inventories surged 7.8 percent.

According to the report, stocks of durable goods rose 0.2 percent m-o-m in May after increasing 0.9 percent m-o-m in April, while those of non-durable goods advanced 0.8 percent m-o-m, the same pace as in the prior month.