FX.co ★ US Wholesale Inventories Growth Lower Than Expected

US wholesale inventories increased 0.5% month-over-month to $964.2 billion in August 2026, below the 0.7% rise reported in the advance estimate and following an upwardly revised 1.4% gain in July. Despite the loss of momentum, inventories have now risen for seven consecutive months.

Nondurable goods inventories were flat overall, as declines in petroleum (-3.9%), groceries (-0.5%), and drugs (-0.8%) offset increases in farm products (6.9%), alcohol (1.7%), paper (0.6%), and apparel (0.6%).

Durable goods inventories rose 0.8%, easing from a 1.2% increase in July. The advance was led by metals (3.1%), machinery (1.3%), and automotive products (0.7%), while inventories of computer equipment (-0.8%) and hardware (-0.2%) declined.

On a year-on-year basis, wholesale inventories were up 6.4%, slightly below the previously estimated 6.6%.