The Commerce
Department announced on Monday its final estimates showed that the U.S.
wholesale inventories increased 0.2 per cent m-o-m in July, being marginally worse than the preliminary estimate of a 0.3
per cent m-o-m rise.
Economists had expected
the reading to stay unrevised at +0.3 per cent m-o-m.
In June,
wholesale inventories were flat m-o-m (revised from +0.1 per cent m-o-m).
According to
the report, durable goods
inventories edged up 0.1 per cent m-o-m in July, as
surges in the Professional equipment (+1.3 per cent m-o-m), Automotive (+1.0
per cent m-o-m) and Electrical (+0.5 per cent m-o-m) businesses offset decreases
in the remaining 6 other durable industries.
Meanwhile,
stocks of nondurable goods jumped by 0.5 per cent m-o-m, as gains in Drugs (+2.5
per cent m-o-m), Miscellaneous Nondurables (+0.8 per cent m-o-m) and Apparel
(+0.1 per cent m-o-m) more than offset declines in the remaining 6 nondurable
businesses.
In y-o-y terms, wholesale inventories increased
0.4 per cent in July.