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The U.S. Commerce Department released the business inventories data on Tuesday. The U.S. business inventories rose 0.3% in May, in line with expectations, after a 0.4% gain in April.
The increase was driven by a rise in wholesale inventories. Wholesale inventories climbed 0.8% in May.
Business sales climbed 0.4% in May, while retail sales rose 1.1%.
The business inventories/sales ratio remained unchanged at 1.36 months in May. The business inventories /sales ratio is a measure of how long it would take to clear shelves.
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