Press "Enter" to skip to content

U.S. wholesale inventories rise; inventories-to-sales ratio lowest in seven years

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

September 10, 2021

WASHINGTON (Reuters) – U.S. wholesale inventory accumulation slowed in July, lagging further behind sales, and it is now taking wholesalers the shortest time in seven years to clear shelves.

The Commerce Department said on Friday that wholesale inventories rose 0.6% as estimated last month. Stocks at wholesalers increased 1.2% in June. Wholesale inventories climbed 11.5% in July from a year earlier.

Other News:   Governor — Biden doesn’t have the authority…

Inventories are a key part of gross domestic product. The component of wholesale inventories that goes into the calculation of GDP increased 0.7% in July.

Business inventories were depleted in the first half of the year, but shortages amid persistent supply bottlenecks because of the COVID-19 pandemic and recent ports congestion in China are frustrating efforts to replenish stocks.

Other News:   EU rejects reworking N. Ireland deal, says would cause instability

Still, inventory rebuilding is expected to underpin economic growth in the second half of the year.

Sales at wholesalers increased 2.0% in July after accelerating 2.3% in June. At July’s sales pace it would take wholesalers 1.20 months to clear shelves, the fewest since July 2014, from 1.22 in June.

Other News:   Britney Spears & Iggy Azalea Reconnect With Adoring IG Comments 6 Years After Pretty Girls Collab!

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

To continue reading this news article, follow the link to the news website.

For any inquiries, contact Amnon Free Press (Amnon Jobi Jakony) by writing to editor [at] amnonfreepress.com. Discover a world of hyper-local news below.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *