Wholesale Inventories Rise Less Than Expected in June, May Revised Lower Too

The last economic report for Friday was the Wholesale Inventories reading for June. It turns out that inventories rose by only 0.3% for the month. Bloomberg and Dow Jones both had the consensus estimate at a gain of 0.7%. This put the inventories reading up at $533.5 billion.

While the gain was lower than expected on a month over month reading, the inventories level was up by 7.9% from the prior year. Another knock here was that the gain of 0.5% in May was revised lower — down to a gain of only 0.3%.