- Prior month -0.6%
Details of wholesale sales which rose 0.4% versus -1.1% expected:
- Wholesale sales (excluding petroleum, petroleum products, other hydrocarbons, oilseed, and grain) grew by 0.4% to $82.7 billion in July.
- Sales increased in four of the seven subsectors.
- Growth was led by the agriculture supplies industry group (miscellaneous subsector) and the food, beverage, and tobacco subsector.
- Wholesale sales were 1.1% higher in July compared to the same month one year earlier.
- In volume terms, wholesale sales increased by 0.5% in July
inventories rise by 0.5% versus -0.1% in June:
- Wholesale inventories rose by 0.5% to $127.5 billion in July, following a 0.1% decline in June.
- Increases were recorded in four of the seven subsectors.
- The machinery, equipment, and supplies subsector led the growth, up 1.0% to $39.4 billion, 3.9% higher than a year earlier.
- The motor vehicle and motor vehicle parts and accessories subsector saw a 2.0% increase to $17.3 billion.
- Inventory declines were noted in the personal subsector (-0.8% to $20.1 billion) and the building material and supplies subsector (-0.5% to $22.0 billion).
- The inventory-to-sales ratio remained unchanged at 1.54 in July, indicating the time required to deplete inventories if sales stay constant.
