A report released by the Commerce Department on Thursday showed U.S. business inventories increased in the month of July. The Commerce Department said business inventories rose by 0.6 percent in July after surging by 1.4 percent in June. Wholesale sales tumbled by 1.4 percent, while manufacturing sales slumped by 0.9 percent and retail sales dipped by 0.3 percent.With inventories climbing and sales falling, the total business inventories/sales ratio rose to 1.32 in July from 1.30 in June.Powered by Commodity Insights
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