US retail inventories increase 0.7% in May

By Ovunc Kutlu

ISTANBUL (AA) - US retail inventories increased 0.7% in May, from the previous month, according to the Commerce Department's Census Bureau advance figure released Thursday.

The figure, which measures the change in the total value of goods held in inventory by the nation's retailers, was estimated to stand at $796.8 billion.

Retail inventories for April was unrevised from the preliminary estimate of a 0.7% increase, the agency said in a statement.

Annually, retail inventories were up 5% in May, compared to the same month in 2023.