WASHINGTON — Wholesale inventories increased 1.8% in May, the Commerce Department reported Thursday. That followed a revised 1.1% increase in April.
Processing Content
Wholesale sales fell 0.2% for the month, following a revised 0.5% rise in April.
Inventories of durable goods were up 1.8% and non-durable goods rose 1.7%.
Auto sales dropped 10.4% for the month, their biggest decline since a 10.7% fall in November 2008, and following a 0.4% decline in April.
Auto inventories rose 4.7% in May, after falling 2.3% in April. The auto inventories increase was the largest since April 2006 posted a 5.4% gain.
The May inventories to sales ratio was 1.16 after 1.14 in April.
