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U.S. Business Inventories Rise Slightly Less Than Expected In May

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The Commerce Department released a report on Tuesday showing U.S. business inventories increased by slightly less than expected in the month of May.

The report said business inventories rose by 0.3 percent in May after climbing by 0.5 percent in April. Economists had expected inventories to rise by 0.4 percent.

Manufacturing inventories edged up by 0.2 percent during the month, while retail and wholesale inventories both climbed by 0.4 percent.

The Commerce Department also said business sales crept up by 0.2 percent in May after dipping by 0.2 percent in April.

The rebound in business sales came as retail sales rose by 0.3 percent and manufacturing and wholesale sales both inched up by 0.1 percent.

With inventories and sales both rising, the total business inventories/sales ratio in June came in unchanged from the previous month at 1.39.

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