Reported 21 days ago
U.S. business inventories rose by 0.4% in July, slightly above economists' expectations of 0.3%, indicating that inventory investment may support economic growth in the third quarter. This increase follows a 0.3% rise in June and marks a 2.5% year-over-year gain. The rise in inventories is considered crucial for GDP growth, especially as a wider trade deficit could be impacting the economy. Retail inventories excluding autos rose by 0.5%, while wholesale inventories climbed by 0.2%.
Source: YAHOO