FX.co ★ U.S. Wholesale Inventories Growth Cools in May, Signaling Softer Restocking Momentum

U.S. wholesale inventories grew at a slower pace in May 2026, with the month‑over‑month change easing to 0.3%, down from a 0.7% increase recorded in April 2026. The latest data, updated on 26 June 2026, point to a moderation in restocking activity across the wholesale sector.

The figures indicate that while inventories are still expanding, the tempo has cooled compared with the prior month. On a month-over-month basis, the April reading reflected a 0.7% rise versus March, whereas May’s 0.3% gain represents a more measured build-up in stock levels relative to April.

For market participants and policymakers, the softer inventory growth in May may suggest a more cautious stance among wholesalers regarding future demand or an adjustment after stronger accumulation earlier in the spring. The month‑over‑month comparison framework underscores this shift, highlighting a clear deceleration in the pace of inventory expansion heading into the middle of 2026.