Service inventories in the U.S. increased in line with economist price quotes in the month of July, the Commerce Department revealed in a report launched on Friday.
The Commerce Department said business inventories climbed by 0.6 percent in July after inching up by 0.1 percent in June.
Production stocks revealed a notable boost during the month, leaping by 0.8 percent in July after edging up by 0.2 percent in June.
The report said retail and wholesale stocks also rose by 0.6 percent and 0.5 percent, respectively, during the month.
The Commerce Department likewise stated company sales approached by 0.2 percent in July after increasing by 0.3 percent in June.
Retail sales increased by 0.5 percent throughout the month, while producing and wholesale sales was available in unchanged.
With stocks increasing by more than sales, the total organisation inventories/sales ratio ticked up to 1.34 in July from 1.33 in June.
The material has been offered by InstaForex Company – www.instaforex.com