Markets
USD

U.S. Wholesale Inventories Growth Matches Estimates In August

(RTTNews) - Wholesale inventories in the U.S. increased in line with economist estimates in the month of August, the Commerce Department revealed in a report released on Friday.

The report said wholesale inventories jumped by 1.2 percent in August after climbing by 0.6 percent in July. The continued advance in inventories matched economist estimates.

The notable increase in wholesale inventories came as inventories of durable and non-durable goods surged up by 1.2 percent and 1.1 percent, respectively.

Meanwhile, the Commerce Department said wholesale sales slumped by 1.1 percent in August after spiking by 2.1 percent in July.

Sales of non-durable goods tumbled by 1.7 percent during the month, while sales of durable goods fell by 0.5 percent.

With inventories jumping and sales slumping, the inventories/sales ratio for merchant wholesalers rose to 1.23 in August from 1.20 in July.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

USD

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More