logo
  

U.S. Business Inventories Increase In Line With Estimates In August

business inventories 101521 lt

A report released by the Commerce Department on Friday showed U.S. business inventories increased in line with economist estimates in the month of August.

The Commerce Department said business inventories climbed by 0.6 percent in August, matching the increase seen in the previous month as well as economist expectations.

Wholesale inventories led the way higher, jumping by 1.2 percent, while manufacturing inventories rose by 0.6 percent and retail inventories inched up by 0.1 percent.

Meanwhile, the report showed business sales edged down by 0.1 percent in August after rising by 0.5 percent in July.

A 1.1 percent slump in wholesale sales more than offset a 1.0 percent surge in retail sales and a 0.1 percent uptick in manufacturing sales.

With inventories rising and sales falling, the total business inventories/sales ratio crept up to 1.26 in August from 1.25 in July.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT