Off the wire
• 1st LD: China welcomes SCO expansion, calls for upholding "Shanghai Spirit"  • China's Huawei launches latest smart-phone in Nepal  • Putin expects Chinese firms to make "significant contribution" to Russia's Siberia, Far East  • Guizhou Renhe beat Shanghai Shenxin 5-2 in Chinese Super League  • Passengers at Lithuanian airports increase by 10 pct  • BOCHK appointed as sole settlement bank for newly launched Shanghai-Hong Kong Gold Connect  • Europe sees slight increase of drug resistance in gonorrhea treatment  • Law enforcement authorities probe mass death of fish in central Latvian lake  • 1st LD: South Carolina Statehouse removes controversial symbol of racism  • Chinese Super League soccer standings  
You are here: 　 Home

U.S. wholesale inventories up in May

Xinhua, July 10, 2015 Adjust font size:

U.S. wholesale inventories and sales rose more than expected in May, adding evidence that the economy was on the track of rebounding in the second quarter from a weather-related contraction in the first quarter.

Wholesale inventories grew by 0.8 percent in May, and sales edged up 0.3 percent. The stock-to-sale ratio remained unchanged at 1.29, the U.S. Commerce Department reported on Friday.

Changes in business inventories is a key component of the changes in the gross domestic product. Much of the weakness in the first quarter contraction came from the lackluster performance of business stocking.

Economists said the wholesale sales increase is a good sign for U.S.economic recovery, as personal consumption accounts for about 70 percent of the total economic activity in the world's largest economy. Endi