U.S. Business Inventories

U.S. business inventories rose 0.8 percent in May, led by the largest increase in stocks held by retailers in nearly 12 years, a government report said.

Inventories at the country's retailers, wholesalers and manufacturers rose to $1.324 trillion after a revised 0.7 percent rise in April, the Commerce Department said. Analysts had forecast inventories to rise 0.4 percent in May. The department originally reported April at 0.4 percent.
Sales of goods on hand rose 1.4 percent in May to $1.057 trillion after 0.6 percent increase in April.

Retail inventories, the main new data in the report, rose 1.6 percent in May, its largest monthly increase since 1.7 percent in August 1994, after falling 0.1 percent in April, the Commerce Department said. Retail sales rose 0.1 percent in May.

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