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July Wholesale Inventories Unrevised From Advance Estimate; Sales Up

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Wholesale inventories rose by 1.3% in July, unrevised from the advance reading and following a 0.4% increase in June, as expected in a survey compiled by Bloomberg.

Durable wholesale inventories increased by 1.1%, while nondurables inventories rose by 1.6%.

Wholesale sales were up by 0.8% in July after a 2.9% decline in June, led by a 3.1% jump in petroleum sales. There was a 0.8% decrease in automotive sales.

When combined with already released data at the retail and factory levels, business inventories are tracking for a 0.8% increase, while business sales are tracking up 0.3%. The report on business inventories and sales will be released on Sept. 16.

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