US wholesale inventories revised lower in July

Group 1 - U.S. wholesale inventories increased by 0.1% in July, slightly below the initial estimate of 0.2%, indicating businesses are not aggressively rebuilding inventory after second-quarter depletions [1] - Year-over-year, inventories advanced by 1.3% in July, with notable increases in grocery inventories (2.0%), apparel (1.9%), and prescription medication (1.8%), while motor vehicle stocks decreased by 1.6% [2] - In the second quarter, inventories decreased at an annualized rate of $32.9 billion, contributing a negative 3.29 percentage points to GDP, but this was offset by a record 4.95 percentage point contribution from a smaller trade deficit [3] Group 2 - Wholesaler sales rose by 1.4% in July, following a 0.7% increase in June, leading to a decrease in the time required to clear shelves from 1.29 months in June to 1.28 months in July [4]