Wholesale Inventories

Wholesale inventories rose for a sixth straight month in June, increasing 0.1% following May’s increase of 0.5%.  June inventories were expected to expand by 0.4%.  Sales fell 0.7% - marking the second consecutive decline - and the inventory-to-sales ratio increased to 1.15 months.  Inventories of durable goods increased 0.3% while inventories of non-durable goods sank 0.2%.

Summary: Sales at U.S. wholesalers fell for the second consecutive month in June, leading to a slight increase in the inventory-to-sales ratio.  Despite the increase, the ratio remains near the record low suggesting manufacturers will likely need to increase production in the coming month.

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