Wholesale Inventories Rise in May

Washington, DC, July 8, 2008--U.S. wholesale inventories rose 0.8 percent month-over-month in May, according to a report released Tuesday by the Department of Commerce.

Since April 2007, inventories have increased by 8.7 percent.

Durable goods inventories posted a 0.8 percent gain following the previous month's upwardly revised 1.2 percent rise. Meanwhile, non-durables rose by 0.7 percent after increasing 1.7 percent in April.

Sales advanced by 1.6 percent in the month, matching the previous month's rise.