Growth in U.S. retail inventories excluding autos slowed in May 2026, suggesting retailers are taking a more cautious approach to stock-building. The indicator rose 0.4% in May, down from a 0.7% increase recorded in April 2026.
The moderation in inventory accumulation, based on data updated on 26 June 2026, points to retailers adjusting their holdings more conservatively as they gauge demand and manage costs. While inventories are still rising, the slower pace may reflect efforts to avoid overstocking and maintain leaner balance sheets heading into the second half of the year.
