Wholesale sales fell in May

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Wholesale sales fell in May

WASHINGTON, (UPI) -- U.S. wholesale inventories rose 0.5 percent in May from April while sales fell 0.3 percent, the U.S. Department of Commerce said Friday.

For the month, sales of durable goods was up 0.5 percent, while non-durable goods sales on the wholesale level were down 1 percent, largely due to a decline in petroleum sales.

Excluding petroleum, sales rose 5.9 percent.

Inventory followed the same pattern with durable goods inventories up 0.7 percent and non-durable goods inventories up only 0.1 percent at the end of the month.

The inventory-to-sales ratio for May was 1.34, indicating it would take 1.34 months to sell off the inventory in warehouses at the current pace of business activity.
 
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