Wholesale inventories in US rises slightly by 0.1 percent in August
Date
10/13/2024 8:13:45 AM
(MENAFN) Wholesale inventories in the United States experienced a modest increase of 0.1 percent in August compared to the previous month, as reported by the Commerce Department on Wednesday. This growth reflects the change in the total value of goods that wholesalers have on hand, bringing the total inventory value to approximately USD904.8 billion. This slight uptick suggests a steady demand for goods as wholesalers adjust their stock levels.
In a revision of previous data, the July figure for wholesale inventories was adjusted downward from USD904.9 billion to USD903.7 billion. Initially reported as a 0.3 percent increase, the revised data now shows that July's inventory growth was only 0.1 percent. Such revisions are common as more complete data becomes available, providing a clearer picture of inventory trends.
On a year-over-year basis, wholesale inventories in August showed a 0.6 percent increase when compared to the same month in 2023. This annual growth indicates that wholesalers are gradually building up their stock levels, which could be a sign of increased consumer demand or preparation for upcoming sales seasons. The modest annual gain highlights a cautiously optimistic outlook for the wholesale sector.
Overall, the latest data on wholesale inventories reflects a stable but slow-growing inventory environment in the U.S. economy. While the monthly increase is minimal and the previous month's data has been revised downwards, the year-over-year growth suggests that wholesalers are maintaining a slight upward trend in their stock levels as they respond to market demands.
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