Wholesale inventories rose 1.8% in May, led by the biggest jump in automobile inventories in five years, the Commerce Department said Friday.
Sales slipped 0.2%, the first downturn in three months, Commerce said.
The inventories gain was well above economistsâ€™ forecasts of a 0.7% gain, Bloomberg reported.
Durable goods stockpiles rose 1.8%, led by a 4.7% gain in automobile inventories.
Auto sales fell to an annual rate of 11.76 million units in May, from 13.14 million in April, Bloomberg reported.
Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.
Â© 2010, Transport Topics Publishing Group. All rights reserved.
Wholesale Inventories Rise 1.8% (7/8/2011 10:10:00 AM)
Used Heavy Truck Sales Drop (7/4/2011 5:00:00 AM)
Oil Rises to Top $95 a Barrel (6/30/2011 4:00:00 PM)
Diesel Dips 0.4Â¢ to $3.95 a Gallon; DOE to Open Strategic Petroleum Reserve (6/27/2011 1:05:00 AM)
Diesel Fuel Price Rises After Five Consecutive Weekly Declines (6/20/2011 1:05:00 AM)
Oil Holds Under $95 a Barrel (6/16/2011 4:30:00 PM)