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US wholesale inventory growth slows in June

U.S. wholesale inventories edged up by 0.1% in June from a downwardly revised 0.3% increase in the preceding month, according to the U.S. Census Bureau.

Total inventories of merchant wholesalers, excluding manufacturers' sales branches and offices, rose to $632.40 billion in June from the revised $631.96 billion in May. Econoday forecast inventories to remain unchanged for the month.

Sales of merchant wholesalers slipped 0.1% to $506.66 billion in June from the revised $506.96 billion in the previous month.

The inventories-to-sales ratio for June was 1.25, compared to 1.31 a year ago.

In annual terms, total wholesale inventories increased 5.1% in June and sales climbed 10.2%.