U.S. Wholesale Inventories Rise in June Amid Trade Tensions

U.S. wholesale inventories rebounded in June, rising 0.1% after a 0.3% decline in May. Durable goods inventories also increased by 0.1% after a 0.7% drop in the previous month. The inventory-to-sales ratio remained steady at 1.30. The data is an important metric for estimating U.S. quarterly gross domestic product.

In June 2025, U.S. wholesale inventories rebounded, rising by 0.1% after a 0.3% decline in May. This uptick follows a pattern of inventory fluctuations that have been observed throughout the year. The inventory-to-sales ratio remained steady at 1.30, providing a consistent metric for estimating U.S. quarterly gross domestic product (GDP) [1].

Durable goods inventories also increased by 0.1% in June, following a 0.7% drop in May. This modest increase signals a potential stabilization in the sector, which has been experiencing mixed results in recent months. The durable goods and factory orders report, released in June, showed a slight improvement, with new orders falling 4.8% in June, but shipments rising by 0.5% to $602.4 billion [2].

The data suggests that while the manufacturing sector is still grappling with slow growth, there are signs of resilience. For instance, shipments of durable goods manufactured in the U.S. moved back above $600 billion in nominal terms in June, regaining the output first reached in 2022. However, surveys by the regional Federal Reserve banks showed reduced activity during the first half of 2025 and only mixed results in July, indicating ongoing challenges [3].

In the context of Madrigal Pharmaceuticals' Q2 2025 earnings, the company reported $213M in Rezdiffra net sales, with annualizing sales of over $800M. This growth is driven by strong patient demand and physician adoption, with over 23,000 patients on Rezdiffra and 80% of top target prescribers now prescribing it. The company expects to launch Rezdiffra in Germany in the second half of 2025 following a positive CHMP opinion for EU approval [4].

Overall, the data points to a mixed picture for the U.S. economy. While wholesale and durable goods inventories show signs of recovery, the manufacturing sector continues to face challenges. The performance of companies like Madrigal Pharmaceuticals, which are focused on strategic growth, provides a contrast to the broader economic trends.

References:
[1] https://www.ainvest.com/news/madrigal-pharmaceuticals-q2-2025-contradictions-surrounding-glp-1-market-impact-rezdiffra-growth-2508/
[2] https://realeconomy.rsmus.com/market-minute-manufacturing-stuck-in-slow-growth-despite-increased-shipments/
[3] https://www.xtb.com/int/market-analysis/news-and-research/breaking-durable-goods-slightly-better-than-expected
[4] https://www.nasdaq.com/articles/ultragenyx-rare-q2-revenue-13