U.S. Wholesale Inventories Increased in May Less Than Forecasted

Data from the U.S. Department of Commerce show that wholesale inventories in the United States increased by 0.1% in May, down from the previous estimate of 0.3%. The inventories also recorded a 4% annual increase, despite declines in recent quarters, which may limit expectations that inventory replenishment will boost economic growth in the second quarter. Additionally, wholesale sales rose by 3.4% in May, with the inventory-to-sales ratio falling to 1.15 months—the lowest since 2012. Meanwhile, the country’s imports increased significantly due to the impact of the war in the Middle East.

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