US business inventories up 0.6 percent in July

WASHINGTON - US business inventories grew a slightly more than expected 0.6 percent in July after an upwardly revised 0.9 percent gain in June, a government report showed on Thursday.

By (Reuters)

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Published: Thu 14 Sep 2006, 9:14 PM

Last updated: Sat 4 Apr 2015, 4:21 PM

Economists had predicted a 0.5 percent gain, according to a Reuters survey. Inventories were up 7.4 percent from a year ago and economists watch these levels as potential signs of shifts in demand or future output.

Business sales at retailers, wholesalers and manufacturers kept pace with inventory growth in July, rising 0.6 percent, up from a 0.2 percent increase in June, the Commerce Department said.

Inventory growth at both manufacturers and retailers slowed in July, rising 0.6 percent and 0.4 percent respectively. Both gained 0.9 percent the prior month.

All told, in July the inventories-to-sales ratio of US business, a measure of how long it would take to deplete current stocks, was unchanged at 1.26 months.

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