Retail inventories in US see increase of 0.7 last month
Date
7/25/2024 4:51:32 AM
(MENAFN) According to the advance figure released by the Commerce Department's Census Bureau on Wednesday, US retail inventories saw an increase of 0.7 percent in June compared to the previous month. This change reflects the total value of goods held in inventory by retailers across the nation. The estimated value of these inventories for June reached approximately USD802.1 billion, marking a notable rise from May’s figures.
The Census Bureau also provided a revision for retail inventories in May, adjusting the figure from an earlier estimate of USD796.8 billion to a revised value of USD796.3 billion. This adjustment indicates a slight decrease from the previous month's inventory levels, highlighting the dynamic nature of inventory measurement and the potential impacts of revised data on economic assessments.
On an annual basis, retail inventories showed a significant increase of 5.3 percent in June compared to the same month in 2023. This year-over-year growth underscores a steady upward trend in the total value of goods held by retailers, suggesting increased inventory levels relative to the previous year.
The data points to a broader trend of accumulating retail inventories, which can be indicative of various market dynamics including consumer demand patterns and supply chain adjustments. This increase in inventory levels may also reflect retailers’ strategies to manage stock in response to anticipated future sales and market conditions.
MENAFN25072024000045015839ID1108480924
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.