U.S. wholesale inventories unexpectedly rose in June on gains in stocks of farm products and other nondurable goods, suggesting an upward revision to the second-quarter economic growth estimate.
The Commerce Department said on Tuesday that wholesale inventories increased 0.3 percent after having been initially estimated as unchanged. Inventories for May were revised up to show a 0.2 percent rise instead of the previously reported 0.1 percent gain.
Economists had forecast wholesale inventories unchanged in June in line with the government’s estimate last month.
