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But we saved everything 🙂.
E.J. Antoni reports that wholesale inventories in the U.S. increased by 0.1% month over month in May, registering a negative growth rate after adjusting for inflation.
He also observes that inventories rose 4.0% year over year, while sales outpaced inventory growth, climbing 3.4% month over month and 18.1% year over year. Antoni highlights the significant decline in the inventory-to-sales ratio.
Antoni has previously tracked signs of sector-specific changes. He reported that U.S. utility prices fell 1.5% following the start of the Iran war, citing a natural gas surplus and restricted exports in his earlier coverage. In June, Antoni noted that the Paychex job index improved for the fourth straight month, with its first annual increase since March 2022, according to his recent report.