It was something of a "good-news-bad-news" tale south of the border in May.
Information released Tuesday by the U.S. Commerce Department revealed wholesale inventories increased more than previously estimated in May as automobile stocks rose amid declining sales. The department also says, however, inventory investment still likely weighed on economic growth in the second quarter.
Wholesale inventories climbed 0.4%, the biggest gain since last December, coming off the heels of a 0.4% decline in April. The department reported last month that wholesale inventories increased 0.3% in May.
Auto inventories jumped 0.7%after declining 1.4% in April. The auto sector has been hit by slowing demand, which has seen manufacturers reporting a decrease in sales for four straight months.
