US Wholesale Inventory Growth Revised Down

US wholesale inventories rose by 0.1% month-over-month to $908.1 billion in July 2025, down slightly from the advance estimate of a 0.2% increase and a revised 0.2% increase in June. This represented two months in a row of very mild inventory expansion. Non-durable goods inventories increased 0.7%, compared with 0.1% in the preceding month, supported by strong inventory builds in groceries (+2%), apparel (+1.9%), prescription medication (+1.8%) and miscellaneous nondurables (+1.8%). Conversely, inventories of durable goods fell 0.2% in July, after a 0.2% rise last month, largely due to decreases in automotive (-1.6%) and miscellaneous durables (-1.4%). On a yearly basis, wholesale inventories went up 1.3% in July, matching the earlier reading.