US wholesale inventories rose 0.2 percent from a month earlier in July 2019, unrevised from the preliminary estimate and after falling 0.1 percent in June. Wholesale auto stocks increased 0.5 percent (vs -0.1 percent in June) and professional equipment inventories were up 0.9 percent (vs 0.8 percent in June). In addition, furniture stocks advanced 0.4 percent, after a 1.5 percent jump in the previous month. Meanwhile, machinery inventories dropped by the most since December 2017 (-0.2 percent vs 0.5 percent), while declines were also seen in apparel (-0.3 percent vs -0.2 percent), hardware (-0.5 percent vs -0.8 percent) and electrical goods inventories (-1.5 percent vs -0.3 percent). The component of wholesale inventories that goes into the calculation of GDP edged up 0.1 percent. Year-on-year, wholesale stocks increased 7.1 percent. Wholesale Inventories in the United States averaged 0.39 percent from 1992 until 2019, reaching an all time high of 2.10 percent in May of 2011 and a record low of -2 percent in March of 2009.
Wholesale Inventories in the United States is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wholesale Inventories in the United States to stand at 0.50 in 12 months time. In the long-term, the United States Wholesale Inventories is projected to trend around 0.20 percent in 2020, according to our econometric models.