6/28, 2:31 PM (Source: TeleTrader)
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US wholesale inventories up 2% in May

Wholesale inventories in the United States increased by less than expected 2% in May compared to the previous month to reach $880.6 billion. On an annual basis, the figure soared as much as 25%.

According to a preliminary report published by the Census Bureau on Tuesday, retail inventories expanded by 1.1% versus April and 15% compared to May last year to $705.3 billion.

The international trade deficit declined by $2.4 billion to $104.3 billion, with goods exports rising by $2 billion to $176.6 billion and imports dropping by $0.4 billion to land at $280.9 billion.

Baha Breaking News (BBN) / ND