US wholesale inventories were flat month-on-month in April, according to the Census Bureau, coming in at $907.0bn after a downwardly revised 0.3% uptick in March, missing consensus estimates of 0.4% increase.
Source: Sharecast
Durable goods inventories fell by 0.2% according to the preliminary estimate, following a 0.5% increase in March, while inventories of non-durable goods rose 0.4%, following the previous month's flat reading.
On an annualised basis, wholesale inventories grew 2.1% in April.
Reporting by Iain Gilbert at Sharecast.com
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.