US Corporate Inventories Grow More Than Anticipated
The stockpiles of American companies increased by 0.8% in July, exceeding expectations which had pointed to a 0.3% rise. The increase was led by wholesale inventories, which grew by 1.3%, and retail stores, which rose by 0.8%. Manufacturing companies also saw an increase of 0.4%. Meanwhile, corporate sales grew by 0.3% after a decline in June, whereas retail sales decreased by 0.7%. The inventory-to-sales ratio remained steady at 1.3 points, unchanged from June, reflecting a continued balance between inventory levels and demand in the U.S. market.
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