US wholesale inventories surge in July

U.S. wholesale inventories surged in ​July, the government ​confirmed on Thursday, potentially positioning inventories ​to contribute to economic growth in the third quarter.

Stocks at wholesalers jumped by an unrevised 1.3%, ‌the Commerce ⁠Department's Census ⁠Bureau said. Inventories, a key part of gross ​domestic product, increased 0.4% in July. They rose 5.7% ​on a year-over-year basis in July.

Businesses are replenishing inventories, which have been drawn ​down for five straight ⁠quarters amid ‌robust domestic demand. Inventories subtracted 0.72 ​percentage ​point from gross domestic product growth ⁠in the second quarter. The economy ​grew at a 1.5% annualized rate ​last quarter.


Growth estimates for the July-September quarter are currently running well above a 2% pace.

The surge in wholesale inventories in July was driven by durable goods, ‌which increased 1.1%. Stocks of nondurable goods shot up 1.6%, with ​petroleum inventories ​increasing 6.5%.

Sales ⁠at wholesalers rebounded 0.8% in July after dropping 2.9% in June. At July's sales pace ​it would take 1.20 months to clear shelves, up from 1.19 months in June. The inventories/sales ratio was at 1.28 months in July 2025.