Business Inventories Post Better-Than-Expected Increase

Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,812.5 billion, up 0.8% (±0.1%) from May 2015 and were up 3.0% (±0.5%) from June 2014. The 0.8% increase, as reported by The Commerce Department, is the largest in more than two years.

In addition, that figure for May was revised upward from a 0.1% gain to a 0.3% gain. Combined, according to Reuters, the two months data are likely to result in second quarter GDP being revised upward.