In May, U.S. business inventories increased 0.5% above expectations, driven by wholesalers and retailers, potentially supporting Q2 economic growth.
U.S. business inventories increased 0.5% in May, surpassing expectations of a 0.4% rise, with wholesalers and retailers experiencing solid stock rises. This trend may contribute to inventory investment supporting economic growth in the second quarter. Inventories have previously been a drag on GDP, but there is cautious optimism that accumulation could offset trade deficit impacts.
July 16, 2024
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