Pending home sales fell 4.7% in May, below the forecast of a 3.0% decline as May’s drop follows an upwardly revised 7.1% increase in April. Details from Bloomberg...
Wholesale inventories increased 0.8% in May, just above the forecast of 0.7%. Sales increased 1.6%, matching April’s rise, which pulled the inventory-to-sales ratio down from 1.09 to 1.08.
