Wholesale inventories in US see increase of 0.2 percent
Date
9/11/2024 8:55:28 AM
(MENAFN) According to data released by the US Commerce Department on Monday, wholesale inventories in the country saw a modest increase of 0.2 percent in July compared to the previous month. This measure, which tracks the total value of goods held by wholesalers, reached an estimated USD903.5 billion. The report highlights a slight buildup in inventory levels, reflecting the supply and demand dynamics faced by wholesalers across various industries.
The July figure, however, was a downward revision from the initial advance estimate, which had forecasted a 0.3 percent rise in wholesale inventories, or approximately USD904.9 billion. The updated data reflects a more tempered growth in inventories than originally anticipated, signaling a slightly slower accumulation of goods. Such revisions are not uncommon as more complete data becomes available.
In addition, the Commerce Department revised its estimates for June wholesale inventories. Originally reported as USD903.3 billion with a 0.2 percent increase, the figure was adjusted downward to USD901.5 billion, with no change recorded in month-over-month growth. This correction underscores the fluid nature of inventory data as new information reshapes the understanding of stock levels in the wholesale sector.
Despite the month-to-month revisions, wholesale inventories in July posted an annual increase of 2.9 percent when compared to the same month in 2023. This year-over-year growth indicates a continued upward trend in inventory levels, suggesting that wholesalers are maintaining higher stocks of goods as they navigate ongoing economic conditions and consumer demand patterns.
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