Wholesale inventories in the United States were virtually unchanged in May compared to the previous month's revised figure, standing at $913.7 billion, the US Census Bureau reported on Monday. The volume of total inventories, however, grew 3.7% on an annual basis.
Meanwhile, sales of merchant wholesalers, adjusted for seasonal variations and trading-day differences but not for price changes, amounted to $650.02 billion in May, 0.2% lower from the revised April level and fell by 4% year-on-year.
The ratio between inventories and sales for merchant wholesalers was 1.41 in May 2023, up from the same month a year ago when it stood at 1.30.
