By Ed FranklU.S. wholesale inventories fell a little more than expected in July, suggesting demand is staying above water despite a weakening global economic outlook. Inventories of U.S. merchant wholesalers declined 0.2% compared with the previous month, according to data from the Commerce Department published Friday. The stock of unsold goods also fell in June by 0.7% from May's level, according to the Commerce Department's revised figures. Economists polled by The Wall Street Journal had expected wholesale inventories to fall by 0.1% in July. Inventories of durable goods led the total lower, falling 0.3%, with automotive inventories also ticking down 0.3%, alongside furniture, electrical and hardware also declining.

Source: Wall Street Journal September 08, 2023 14:55 UTC