US Wholesale Inventories Rise 0.2%, Beating Expectations

US wholesale inventories increased 0.2% in June, reversing a 0.3% drop in May and beating economists’ consensus for a 0.1% decline, according to the Commerce Department’s advance economic indicators report released Tuesday. Total retail inventories rose 0.3% for a third consecutive month, matching forecasts. Excluding motor vehicles and parts, retail stockpiles were unchanged after a 0.2% gain in May. Because inventories are a component of gross domestic product, June’s firmer wholesale build and steady retail levels suggest private-sector stockpiling could provide a slight lift to second-quarter GDP revisions, due later this week.