WASHINGTON, Aug 6 (Reuters) – U.S. wholesale inventories rose slightly less than initially thought in June amid a reduction in the stocks of nondurable goods, including petroleum, government data showed on Thursday.
Stocks at wholesalers increased 0.2%, revised down from the 0.3% increase estimated last month, the Commerce Department’s Census Bureau said on Thursday. Inventories, a key part of gross domestic product, climbed 0.3% in May. They increased 4.2% on a year-over-year basis in June.
Business inventories have been drawn down for five straight quarters amid robust domestic demand, a mix of consumer spending and business investment tied to artificial intelligence.
They subtracted from gross domestic product growth in the second quarter. The economy grew at a 1.5% annualized rate last quarter, though domestic demand increased at its fastest pace in more than three years.
Durable goods inventories shot up 0.6% in June, lifted by increases in stocks of motor vehicles, computer equipment, hardware and machinery. Stocks of nondurable goods fell 0.6%, with petroleum inventories dropping 3.9%.
Sales at wholesalers decreased 3.0% in June after rising 3.5% in May. At June’s sales pace it would take 1.19 months to clear shelves, up from 1.15 months in May. The inventories/sales ratio was at 1.30 months in June 2025.
(Reporting by Lucia Mutikani; Editing by Paul Simao)
Comments