US business inventories rise 0.8 percent in July
US business inventories increased more than expected in July as retailers and wholesalers restocked to meet demand. The 0.8 percent rise suggests inventories could boost third-quarter economic growth.
United States business inventories rose 0.8% in July, surpassing expectations as retailers and wholesalers restocked to meet robust domestic demand. The increase signals that stockpiles could contribute positively to third-quarter economic growth. Economists surveyed by Reuters had projected a more modest 0.3% gain.
