According to the latest numbers out of the wholesale industry, stockpiles have slightly increased after three months of decline. The news is somewhat welcome, though the total rise is hardly enough to create a large groundswell of positivity.
The gains were tepid at best, and add to the worries of a slowing economy in the third quarter.
The Commerce Department made a statement last week that the wholesale stockpiles rose by 0.1% through the two-thirds of the summer, which an increase through August not doing much to stem the tide. May was also a poor month with 0.3% overall.
Economists stated that wholesalers would increase stockpiles in July following the cuts from April through July. The restocking increases from production and accelerated overall growth is a response to strength in the market. Smaller increases are likely to have an overall negative effect if continued.
While the economy saw an uptick of 2.5% in the second quarter, restocking businesses added 0.6% to grow in that same period. The gains were said by experts to be driven primarily by the retailers, manufacturers and farming sector.
An overwhelming number of expert economists state the growth will continue to be slow to an annual rate of 2.3%, while there is still a handful who believe it could be even bleaker for the wholesale industry.
All of the information means that the industry must look to attain new clientele and re-engage with lost businesses who can consume more of the products necessary to return gains to the sector.
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