Wholesale Inventories Rise 0.6% in June

Wholesale inventories rose 0.6% in June, the slowest rate in seven months, the Commerce Department said Wednesday.

Wholesale sales also rose 0.6%, Commerce said.

The inventories gain, which followed a 1.7% increase in May, was below economists’ median forecast of a 1% gain, Bloomberg reported.

Durable goods stockpiles rose 1.3%, led by a surge in automobile and parts inventories.

Wholesale inventories account for about a fourth of total business stockpiles, while retailers and factories account for the rest.