U.S. Business Inventories Rise for Fourth-Straight Month
By Ed Frankl
U.S. business inventories climbed for a fourth month in a row in July, driven especially by retailers, according to monthly Commerce Department data published Tuesday.
Inventories rose 0.4% on month, the adjusted figures showed, higher than the 0.3% rise of June, and the 0.3% rise also expected by economists polled by The Wall Street Journal.
The ratio of inventories to sales, which suggests how many months it would take for businesses to clear their inventories at the current sales rate, edged down to 1.37 from 1.38 in June.
Retailers saw the largest on-month growth in inventories, registering a 0.8% increase, while for manufacturers it was 0.1% and for merchant wholesales 0.2%.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
September 17, 2024 10:32 ET (14:32 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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