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- U.S. business inventories unchanged in June
U.S. business inventories unchanged in June
The Commerce
Department announced on Thursday that business inventories remained unchanged
m-o-m in June, following an unrevised 0.3 percent m-o-m increase in May.
That was below
economists’ forecast of a 0.1 percent m-o-m uptick.
According to
the report, retail inventories declined 0.3 percent m-o-m in June, while wholesale
inventories were flat m-o-m and stocks at manufacturers rose 0.2 percent m-o-m.
Retail
inventories excluding autos, which go into the calculation of GDP, edged down
0.1 percent m-o-m, the same pace as in the prior month.
In y-o-y terms,
business inventories climbed 5.2 percent in June.
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