Economic indicators for June showed that U.S. retail inventories are rising and businesses have been facing financial pressure to clear out a glut of excess merchandise, according to a June 28 report from the U.S. Census Bureau.
Wholesale inventories in May went up by 2 percent from April to $880.6 billion, with a 25 percent year-over-year increase from May 2021.
Retail inventories in May increased 1.1 percent over April to $705.3 billion, with a 17.3 percent year-over-year increase.
The U.S. international trade deficit dropped to $104.3 billion in May, down by $2.4 billion from $106.7 billion in April.
U.S. goods exports for May were at $176.6 billion, $2 billion more than in April, while imports of goods to the United States fell to $280.9 billion, about $400 million less than in April….