The Commerce
Department informed on Tuesday that the U.S. business inventories jumped 0.4
per cent m-o-m in July, following an unrevised
0.3 per cent m-o-m rise in June. That was marginally above economists’ forecast of a 0.3 per cent m-o-m increase and represented the 4th consecutive monthly gain in
business inventories.
According to
the report, stocks at
retailers climbed 0.8 per cent m-o-m in July, while inventories
at merchant wholesalers rose 0.2 per cent m-o-m and those at manufacturers
edged up 0.1 per cent m-o-m.
In y-o-y terms,
business inventories surged 2.5 per cent in July.