U.S. wholesale inventories rose less than expected in July, suggesting restocking will probably not contribute much to economic growth in the third quarter.
The Commerce Department said on Wednesday wholesale inventories edged up 0.1 percent after falling 0.2 percent in June.
Economists polled by Reuters had expected stocks at wholesalers to rise 0.3 percent.
Inventories are a key component of gross domestic product changes. Excluding autos, wholesale inventories ticked up 0.1 percent. This component goes into the calculation of gross domestic product.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.