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- U.S. wholesale inventories decline 1.4 percent in June
U.S. wholesale inventories decline 1.4 percent in June
The Commerce
Department announced on Friday the U.S. wholesale inventories fell 1.4 percent
m-o-m in June, better than the preliminary estimate of a 2.0 percent m-o-m
decline. This was the largest drop in wholesale inventories since July 2009.
Economists had
forecast the reading to stay unrevised at -2.0 percent m-o-m.
In May,
wholesale inventories fell by 1.2 percent m-o-m.
According to
the report, durable goods inventories declined 1.7 percent m-o-m in June, while
stocks of nondurable goods decreased 1.0 percent m-o-m.
In y-o-y terms,
wholesale inventories dropped 5.6 percent in June.
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