Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Wholesale Inventories Drop, Sparking More Economic Hope

There was more encouraging economic news this week for trucking, following earlier news that manufacturing may be starting to rebound. The U.S. Commerce Department reported Friday morning the wholesale inventories in this country fell a hearty 0.7% in July

by Staff
September 7, 2001
2 min to read


There was more encouraging economic news this week for trucking, following earlier news that manufacturing may be starting to rebound.
The U.S. Commerce Department reported Friday morning the wholesale inventories in this country fell a hearty 0.7% in July,
the biggest single month decline in almost five years. Sales increased 0.6%, while the inventory-to-sales radio, which measures how long it would take to deplete current inventories, fell from 1.33 months in June to 1.32 months in July.
For the trucking industry that is welcome news, says Newport Communications Senior Economist Jim Haughey, but more improvement is needed.
“Total wholesale inventories must fall another 5-6% or sales must rise about 4% for inventories to be back in balance,” he said.
According to Haughey, the 0.6% gain in wholesale sales is not as good as it sounds because this figure has a large margin of error.
“Sales were reported down nearly 3% over the previous two months," he says. "We can only be sure that the July sales change was in the range of -1.7% to +2.9%. Other recent retail and manufacturing data suggests that wholesale sales are likely steady to slightly up.”
He also describes the inventory to sales radio as “about two days too much inventory based on the I/S ratio in recent periods of inventory balance.”
The July drop in inventories was led by two categories. Electrical equipment stocks fell almost 4%, while inventories of durable goods dropped by 0.8%. Inventories of non-durable goods posted a 0.6% drop, and several other categories also posted declines.
Meanwhile, the increase in July sales was the biggest since December and is a sharp increase from a revised 1.1% drop in June.
Earlier in the day, the Labor Department released a piece of news that surprised few people. Unemployment in the Untied States increased from 4.5% in July to 4.9% in August, the highest rate since September 1997.
Many of the job losses were in the manufacturing sector, an important trucking customer, which has laid off more than a million people in just over the past year.
Some analysts are concerned that news of increasing unemployment might scare consumers, whose fairly strong spending levels have so far managed to keep the economy from further hitting the skids this year.

More Fleet Management

Illustration of cybersecurity images with "The Cyber Stop" text
Fleet Managementby Ben WilkensApril 30, 2026

AI Security Risks for Trucking Fleets: What to Know About Deepfakes and Agentic AI

As fleets adopt artificial intelligence for routing, maintenance, and load matching, new security risks are emerging. Learn where the vulnerabilities are and how to put the right controls in place.

Read More →
Mobile tablet showing Motus screen against highway background with Motus logo

FMCSA’s Motus System Is Coming. What Fleets Need to Know Now

The long-awaited registration system promises a single portal — and tighter fraud controls.

Read More →
CargoNet 2026 Qi report.
Fleet Managementby News/Media ReleaseApril 24, 2026

Cargo Theft Incidents Fall in Q1, but Organized Crime and Impersonation Drive New Risks

CargoNet reports fewer supply chain crime events to start 2026. But losses hold steady as organized crime shifts tactics toward impersonation schemes and high-value goods.

Read More →
Ad Loading...
Graphic with light bulbs, HDT Truck Fleet Innovators logo, and the word Nominations
Fleet ManagementApril 24, 2026

Nominations Open for HDT Truck Fleet Innovators 2026

Heavy Duty Trucking is searching for forward-looking leaders at trucking fleets as nominations for HDT’s Truck Fleet Innovators 2026. Deadline is May 15.

Read More →
Illustration with trojan horse and lock with inside of cargo container in background
Fleet Managementby News/Media ReleaseApril 23, 2026

New Trojan Driver Cargo Theft Scam Bypasses Carrier Vetting Systems

Cargo theft rings plant operatives as drivers inside legitimate, fully vetted carriers, then execute coordinated thefts that look like a traditional straight theft from the outside.

Read More →
ATA Truck Tonnage Index March 2026.
Fleet Managementby News/Media ReleaseApril 22, 2026

March Truck Tonnage Posts Strongest Annual Gain Since 2022

A modest sequential increase capped the strongest quarterly performance in years, signaling continued freight momentum in early 2026.

Read More →
Ad Loading...
Toll road.
Fleet Managementby Jack RobertsApril 22, 2026

Ohio Turnpike Targets $5.2 Million in Unpaid Tolls from Trucking Firms

More than 300 carriers across 26 states have been sent to collections as the Ohio Turnpike cracks down on toll evasion and delinquent payments.

Read More →
Illustration with ATRI logo and square blocks spelling out "research"
Fleet Managementby Deborah LockridgeApril 20, 2026

'Beyond Compliance,' Regulations, Driver Coaching on ATRI’s 2026 Research List

The American Transportation Research Institute will examine driver coaching, regulatory impacts — including the "Beyond Compliance" concept —and weather disruptions that shape trucking operations.

Read More →
Brian Antonellis, senior vice president, fleet operations, Fleet Advantage.
Fleet Managementby Jack RobertsApril 17, 2026

Fleet Advantage's Brian Antonellis on the Growing Need to Replace Old Trucks

Fleet Advantage's Brian Antonellis says it's time for fleets to get back to the fundamentals of good maintenance practices. And that includes replacing older, inefficient equipment.

Read More →
Ad Loading...
Illustration of computer and mobile screens with load matching software superimposed over photo of an oversize load
Fleet Managementby News/Media ReleaseApril 17, 2026

Truckstop.com Adding to Open Deck, Heavy Haul Offerings

Load matching for flatbed, lowbed, oversize and overweight loads can't be automated like basic van freight, but Truckstop.com is adding more high-tech tools to help.

Read More →