Manufacturing sales of $79B in June rose slightly, edging past estimates thanks to gains in most categories (15 of 21) - with chemicals and transportation leading the way again…

… which helped offset a 14% drawdown in petroleum products on lower oil prices. Similar dynamics played out in inventory, where transportation offset petroleum to drive a 0.6% build…

… while the continued rise in unfilled orders was driven by a 2% increase in aerospace product backlog.

In wholesale sales the gain was more pronounced at 3%, with a 26% increase in farm equipment and an 8% bump in agricultural supplies leading the way.

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