10:25 am Wholesale Inventories Growth Matches Expectations
- Wholesale inventories increased 0.5% in May following a downwardly revised 1.0% (from 1.1%) in April.
- The Briefing.com consensus expected wholesale inventories to increase 0.5%.
- The increase in inventories came predominantly from a 1.9% increase in automotive inventories and a 2.1% increase in metals
- Despite a 2.0% increase in petroleum inventories, nondurable wholesale inventories fell 0.3% in May.
- Wholesale sales rose 0.7% in May, down from a 1.7% increase in April.
- Much of the gain was the result of a 6.6% increase in …More