U.S. Wholesale Inventories Surge 1.3% in May

Wholesale inventories in the United States increased by 1.3% during May, with businesses trying to keep up with the rising demand amid recovery from the pandemic, data showed on Friday.

Meanwhile, wholesale sales grew by 0.8% compared with the previous month, and by 37% on an annual basis.

Durable goods inventories increased by 1.2%, while nondurable goods stockpiles surged by 1.5%.