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US business inventories up 0.2% in June
Business inventories in the United States rose by 0.2% in June compared to the previous month, and reached $2,660.3 billion, the US Census Bureau revealed in its report on Friday. On an annual basis, the business inventories increased by 1.6%. The combined value of trade sales and manufacturers' shipments landed at $1,924.7 billion in the reported month, climbing by 0.5% month-on-month and by 3.8% year-on-year. The total ratio between business inventories and sales stood at 1.38 at the end of June, based on seasonally adjusted data, decreasing from last year's ratio of 1.41.
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