• Prior -2.3% revised to -2.2%
  • wholesale trade for May 0.1% versus -0.4% estimate

Details from the report:

  • Personal and household goods sales rose 3.5% to $12.4B in May after three monthly declines, leading the overall wholesale sales increase

  • Gains were seen in all but one industry group within the subsector

  • Top contributors: textile, clothing & footwear (+14.4%) and home entertainment equipment & appliances (+15.5%)

  • Motor vehicle and parts subsector up 2.2%, led by a 2.9% rise in the motor vehicle industry group

  • Machinery, equipment, and supplies sales fell 3.3%, offsetting much of the overall wholesale gains

  • Key drags: farm, lawn & garden machinery (-17.1%) and construction/forestry/mining/industrial equipment (-3.9%)

Looking at inventories:

  • Wholesale inventories rose 0.8% to $130.3B in May (excluding petroleum, oilseed, and grain)

  • Inventories increased in 4 of 7 subsectors, led by:

    • Building material and supplies: +2.1%

    • Personal and household goods: +2.2%

  • Inventory-to-sales ratio increased to 1.55 in May (from 1.54 in April), indicating slightly more months of inventory on hand at current sales levels

Source: Forex Live