Wholesale inventories for US increases 0.2 percent in June
Date
7/25/2024 5:02:40 AM
(MENAFN) On Wednesday, the Commerce Department reported a 0.2 percent increase in wholesale inventories for the United States in June compared to the previous month. This rise brought the total estimated value of goods held in inventory by wholesalers to USD903.3 billion. This increment highlights a modest but noticeable uptick in the amount of stock available in the wholesale sector, suggesting a slight increase in the volume of goods being stored by wholesalers.
In addition, the figure for May was revised slightly downward from the initially reported USD901.6 billion to USD901.5 billion. Despite this minor adjustment, the revised data still indicated a gain of 0.6 percent from the previous month. This revision provides a clearer picture of inventory levels and underscores the ongoing incremental growth observed in the wholesale market.
On an annual basis, wholesale inventories in June showed a modest increase of 0.1 percent compared to the same month in the previous year, 2023. This relatively small year-over-year growth reflects a steady inventory level and suggests that while there has been a slight uptick, the changes are relatively stable compared to the previous year's figures.
Overall, the data indicates a consistent trend of gradual growth in wholesale inventories. The modest increase in June aligns with broader economic patterns and inventory management practices, as businesses continue to adjust their stock levels in response to changing market conditions and consumer demand. This stability in inventory levels is indicative of a measured approach to managing supply in the face of evolving economic factors.
MENAFN25072024000045015839ID1108480997
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.