U.S. Wholesale Inventories Rise Less Than Expected, Sales Slow
U.S. wholesale inventories rose less than expected in June, which could have an impact on the growth estimate for the second-quarter. The Commerce Department said on Friday wholesale inventories increased 0.3 percent after a downwardly revised 0.3 percent gain in May. Economists polled by Reuters had expected stocks at wholesalers to rise 0.6 percent in June after a previously reported 0.5 percent increase the prior month. Inventories are a key component of gross domestic product changes. The component that goes into the calculation of GDP – wholesale stocks excluding autos – increased 0.4 percent.
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