US wholesale inventories edge higher in August

(Sharecast News) - US wholesale inventories edged higher in August, according to the Census Bureau, rising 0.5% month‑on‑month to $964.2bn. August's reading comes in below the 0.7% advance estimate and following July's upwardly revised 1.4% gain. It also marked a seventh straight monthly rise.

Non-durable inventories were unchanged, with falls in petroleum, groceries and drugs offset by gains in farm products, alcohol, paper and apparel, while durable inventories rose 0.8%, easing from 1.2% in July, driven by increases in metals, machinery and automotive products.

On an annualised basis, wholesale inventories were 6.4% higher than at the same time a year ealier, slightly below the earlier 6.6% estimate.







Reporting by Iain Gilbert at Sharecast.com