AlQa'dah 5, 1434, Sep 11, 2013, SPA -- U.S. wholesale inventories rose less than expected in July, the government reported Wednesday, suggesting that restocking will not contribute much to economic growth in the third quarter. The Commerce Department said wholesale inventories rose 0.1 percent in July after dropping 0.2 percent the previous month. Economists expected July inventories to increase 0.3 percent. Inventories are a key component of changes in gross domestic product (GDP), the broadest measure of economic health. The government reported last month that second-quarter GDP expanded at a 2.5 percent annual pace, with inventories adding 0.6 percentage point. Economists expect the pace of inventory accumulation to slow in the July-September quarter after consumer spending moderated in the second quarter. In July, wholesale inventories were hurt by a 1.2 percent decline in professional equipment stockpiles. It was the biggest drop since August 2012 and partially offset gains in automobile, petroleum, furniture, machinery, electrical, and apparel inventories.
