US Wholesale Inventories Growth Tops Forecasts

US wholesale inventories rose by 1.3% month-over-month to $958.9 billion in July 2026, matching the advance estimate and following an upwardly revised 0.4% increase in June. This marked the sixth consecutive month of growth in wholesale inventories and the strongest increase since March. Nondurable goods inventories rose 1.6% in July, rebounding from a 0.3% decline in June, led by sharp increases in petroleum, which surged 6.5% after falling 6.2% in June, and farm products, which rose 3.9% following a 0.1% decline. Paper and drug inventories both increased 1.6%, accelerating from June. Furthermore, durable goods inventories rose 1.1%, up from a 0.8% rise in June, mainly reflecting increases in stocks of computers equipment (5.9% vs 2.9%); professional equipment (2.7% vs 0.7%) and electrical products (2.3% vs 1%). On a yearly basis, wholesale inventories advanced by 5.7%, as previously estimated.

US wholesale inventories rose by 1.3% month-over-month to $959.1 billion in July 2026, after an upwardly revised 0.3% increase in June and largely surpassing the expected 0.1% gain, advance data showed. This marked the sixth consecutive month of growth in wholesale inventories and the strongest since March, driven by a rebound in nondurable inventories (1.6% vs -0.4% in June) and faster growth in durable goods stocks (1.2% vs 0.8%). On a yearly basis, wholesale inventories advanced by 5.7%.

US wholesale inventories rose 0.2% month-over-month to $944.7 billion in June 2026, below a 0.3% gain in the advance estimate. The latest reading marked the fourth consecutive month of slower inventory growth after a 1.5% increase in March, the strongest since mid-2022. Compared with a year earlier, wholesale inventories were 4.2% higher. Meanwhile, the inventories-to-sales ratio for merchant wholesalers, excluding manufacturers’ sales branches and offices, stood at 1.19 on a seasonally adjusted basis, down from 1.30 in June 2025.