US Wholesale Sales Fall 3.0% in June as Inventories Rise 0.2%
Updated
Updated · Finimize · Aug 6
US Wholesale Sales Fall 3.0% in June as Inventories Rise 0.2%
3 articles · Updated · Finimize · Aug 6
Summary
US wholesale sales dropped 3.0% in June after a 3.5% gain in May, while inventories still edged up 0.2%, leaving more goods sitting in warehouses.
The Census Bureau revised the inventory increase down to 0.2%; stockpiles were still 4.2% above a year earlier as durable goods rose 0.6% and nondurables fell 0.6%.
Petroleum inventories slid 3.9%, pulling down nondurables, while gains in motor vehicles, computer equipment, hardware and machinery lifted durable-goods stockpiles.
The inventory overhang pushed the months-to-clear measure up to 1.19 from 1.15, a sign wholesalers may cut reorders, weighing on factory output, freight demand and near-term US growth.