U.S. Wholesale Inventories Rose Again in May

By Ed Frankl

U.S. wholesale inventories rose for a second month in a row in May, Commerce Department data said Wednesday.

Inventories at merchant wholesalers were 0.6% higher on month, after adjustment for seasonal variations, rising from the upwardly revised 0.2% increase in April, the data said. Economists polled by The Wall Street Journal also expected a 0.6% increase. Inventories were down 0.5% from May 2023.

The ratio of inventories to sales--gauging how many months it would take for wholesalers to sell current stocks--was 1.35 in May, the same as in April and from 1.39 in the same month last year.

Inventories rose in both durable goods--driven by cars and machinery--and nondurable goods--including drugs, groceries and farm products--the data said.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

07-10-24 1033ET