US wholesale inventories edge higher in May

(Sharecast News) - US wholesale inventories edged higher in May, according to the Census Bureau, rising 0.3% month-on-month to $943.9bn. May's increase followed a 0.7% gain in April and came in ahead of expectations for a more subdued 0.2% uptick.

It also marked the fourth consecutive monthly increase in wholesale stockpiles, though the pace continued to moderate from March, which saw the strongest growth since August 2022.

Durable goods inventories were up 0.3%, after a 0.9% rise in April, while non-durable inventories increased 0.5%, accelerating from a 0.3% gain the previous month. On an annualised basis, wholesale inventories were 4.3% higher.







Reporting by Iain Gilbert at Sharecast.com