The Commerce
Department announced on Thursday that the U.S. business inventories rose 0.3
per cent m-o-m in June, following an unrevised
0.5 per cent m-o-m jump in May. That was in line with economists’ prediction of a 0.3 per cent m-o-m gain and represented the 3rd consecutive monthly increase in
business inventories.
According to
the report, stocks at
retailers surged 0.9 per cent m-o-m in June, while inventories
at merchant wholesalers advanced 0.2 per cent m-o-m and those at manufacturers (flat
m-o-m) were unchanged.
In y-o-y terms,
business inventories climbed 2.1 per cent in June.