The Commerce
Department informed on Thursday that the U.S. business inventories
were unchanged m-o-m in May, following
an unrevised flat m-o-m performance in April.
This matched economists’ estimates.
According to
the report, stocks at
merchant wholesalers decreased by 0.3 per cent m-o-m in May, while inventories
at retailers rose by 0.3 per cent m-o-m and those at manufacturers edged up 0.1
per cent m-o-m.
In y-o-y terms,
business inventories surged by 1.7 per cent in May.