U.S. business inventories rose 0.2% in July to a seasonally adjusted $1.874 trillion, the Commerce Department said Friday. Economists surveyed by The Wall Street Journal had forecast a 0.2% gain.
Manufacturing inventories were up 0.2% and wholesaler inventories increased 0.6% from a month earlier. Retailers decreased stockpiles by 0.1% in July from June.
The inventory-to-sales ratio, which measures how many months it would take for firms to deplete inventories at the current sales pace, was 1.38 at the end of July, down from 1.40 a year earlier.
The Commerce Department data on business inventories can be found at http://www.census.gov/mtis/www/data/pdf/mtis_current.pdf
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(END) Dow Jones Newswires
September 15, 2017 10:15 ET (14:15 GMT)