US wholesale, retail inventories rise in June

The US wholesale and retail inventories rose both month-on-month and year-on-year in June, despite a monthly decline in wholesale inventories of durable goods.

According to data released by the US Census Bureau on Wednesday, wholesale inventories increased by 0.2% MoM to $903.3 billion after rising 0.6% in the May reading.

Data also showed that retail inventories rose by 0.7% to $802.1 billion during the same period, compared to an increase of 0.6% in May.

Wholesale inventories of durable goods fell by 0.1%, while inventories of non-durable goods increased by 0.7% during the same period.

The data also showed that wholesale inventories rose by 0.1% compared to the same month in 2023, while retail inventories increased by 5.3% YoY.