Updated:
8/10/2011 10:05:00 AM
Wholesale inventories rose 0.6% in June, the slowest rate in seven months, the Commerce Department said Wednesday.
Wholesale sales also rose 0.6%, Commerce said.
The inventories gain, which followed a 1.7% increase in May, was below economists’ median forecast of a 1% gain, Bloomberg reported.
Durable goods stockpiles rose 1.3%, led by a surge in automobile and parts inventories.
Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.
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