A report from the Commerce Department released on Thursday indicated that business inventories in the U.S. saw an increase consistent with economists’ predictions for the month of August.
The Commerce Department reported a 0.3 percent rise in business inventories for August, aligning with a revised-down increase from July.
Economists had anticipated a 0.3 percent growth in business inventories, which was a revision from the initially reported 0.4 percent increase the previous month.
The report highlighted that retail inventories grew by 0.6 percent during the month, while both manufacturing and wholesale inventories experienced a slight uptick of 0.1 percent.
In contrast, the Commerce Department indicated that business sales fell by 0.2 percent in August, following a notable 1.1 percent increase in July.
Manufacturing sales decreased by 0.5 percent, and wholesale sales saw a marginal drop of 0.1 percent, while retail sales remained stable.
As inventories rose and sales declined, the overall business inventories/sales ratio increased to 1.38 in August from 1.37 in July.
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