Ekonomické zprávy
10.07.2024

U.S. wholesale inventories rise as initially estimated in May

The Commerce Department reported on Wednesday its final estimates revealed that the U.S. wholesale inventories climbed 0.6 per cent m-o-m in May, matching the preliminary estimate. This marked the largest monthly advance since November 2022 (+0.6 per cent m-o-m). 

Economists had forecast the reading to stay unrevised at +0.6 per cent m-o-m.

In April, wholesale inventories rose 0.2 per cent m-o-m.

According to the report, durable goods inventories jumped 0.6 per cent m-o-m in May, reflecting increases in 4 out of 9 durable industries, led by Automotive (+1.9 per cent m-o-m) and Machinery (+1.2 per cent m-o-m). Meanwhile, stocks of nondurable goods dropped by 0.3 per cent m-o-m, reflecting declines in 7 out of 9 nondurable businesses, driven by Farm products (-5.1 per cent m-o-m) and Apparel (-2.4 per cent m-o-m). 

In y-o-y terms, wholesale inventories decreased 0.5 per cent in May.

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