Wholesale inventories increased 1.3%, in July, the largest increase in two years, the Commerce Department reported today.
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Wholesale sales increased 0.6%, the strongest gain in three months.
Economists expected inventories to increase 0.4% and sales to increase 0.2%, according to the median estimate from Thomson Reuters.
Inventories in June were revised to a 0.3% increase from a 0.1% gain reported last month. Sales were also revised higher to a 0.5% decline from 0.7%.
The wholesale inventories-to-sales ratio edged higher to 1.16 from 1.15 in June.
Durable goods inventories increased 1.0% and apparel inventories jumped 4.1%, the largest increase since November 2004.
