WASHINGTON, Aug. 10 (UPI) — U.S. wholesale inventories rose 0.6 percent in June following a downwardly revised level for May, the Commerce Department said Wednesday.
The June increase to a seasonally adjusted $458.7 billion put inventories 15.8 percent higher than June 2010.
May’s inventory level was revised down by $200 million, which dropped the estimated rise from 1.8 percent to 1.7 percent.
Wholesale sales for June also rose 0.6 percent, rising to $395.8 billion, an improvement from May’s 0.3 percent rise. Sales are up 15.4 percent from June 2010, Commerce said.
The inventory-to-sales ratio — reflecting how many months it would take a company to deplete its current inventory at the current sales pace — came in at 1.16, flat from a month ago and unchanged from the same month a year earlier.
Inventories of durable goods — items meant to last three or more years — increased 1.3 percent after an April-to-May rise of 2.1 percent. From a year earlier, wholesale trade inventories are up 12.1 percent.
Durable goods sales rose 1.6 percent month-to-month and 10.2 percent from June 2010.
Auto sales rose 9.7 percent from May and 4.7 percent from June 2010. The inventory-to-sales ratio for automobiles in June fell slightly from 1.53 to 1.5.