US retail inventories rise 0.8% in May

By Ovunc Kutlu

ISTANBUL (AA) – Retail inventories in the US rose 0.8% in May, according to the Commerce Department's Census Bureau advanced figures released on Wednesday.

The figure, which measures the change in the total value of goods held in inventory by the nation's retailers, was estimated at $778.7 billion, according to advanced figures.

Retail inventories in April were revised up from a 0.1% gain to a 0.3% increase, the Census Bureau said in a statement.

On an annual basis, retail inventories were up 7% in May from the same month of last year.