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US business inventories rise 0.4% in July, more than estimates

Inventories up 2.5% year-on-year, according to Commerce Department

US business inventories rise 0.4% in July, more than estimates
2024-09-17 17:48:02

ISTANBUL

US business inventories increased 0.4% to reach $2,574.9 billion in July, according to Commerce Department figures released Tuesday.

The figure came higher than market expectations of a 0.3% gain.

The figure for June slightly revised down from $2,567.5 billion to $2,565.9 billion for a monthly gain of 0.3%.

Business inventories, which measure the change in value of unsold goods held by manufacturers, wholesalers and retailers, were annually up 2.5% in July, compared to the same month in 2023.