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Economic Buzz: US Business Inventories Flat In June
(16-Aug-2019, 09:09 Hours IST)
US business inventories came in flat in June after rising by 0.3 percent in May, with a drop in retail inventories offsetting an increase in manufacturing inventories, the Commerce Department reported on Thursday. Retail inventories fell by 0.3 percent in June after climbing by 0.3 percent in May, while manufacturing inventories rose by 0.2 percent for the second consecutive month. The report also said wholesale inventories came in virtually unchanged in June following a 0.4 percent increase in May. Meanwhile, the Commerce Department said business sales crept up by 0.1 percent in June after edging down by 0.1 percent in May. While wholesale sales slid by 0.3 percent during the month, manufacturing and retail sales climbed by 0.4 percent and 0.3 percent, respectively.

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