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9/16, 4:02 PM (Source: TeleTrader)
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US business inventories up 3.2% in July

Inventories in the manufacturing and trade sectors in the United States were up 3.2% in June compared to the month before to stand at $1,441.1 billion, the country's Census Bureau revealed on Wednesday. Compared to the same month the previous year, inventories diminished by 1.2%.

The combined value of distributive trade sales and manufacturers' shipments for July, adjusted for seasonal and trading-day differences, was estimated at $1,914.3 billion, rising 0.1% from the level seen in June, but remaining 5.9% shy of the figure reported in July 2019.

The ratio between business inventories and sales was 1.33 at the end of July, slightly less from 1.39 recorded in the same month the year before.

Breaking the News / TF