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Financial News: U.S. Business Inventories Increase In Line With Estimates

U.S. Business Inventories Increase In Line With Estimates In August

10/15/2021 - 10:48:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Friday showed U.S. business inventories increased in line with economist estimates in the month of August.

The Commerce Department said business inventories climbed by 0.6 percent in August, matching the increase seen in the previous month as well as economist expectations.

Wholesale inventories led the way higher, jumping by 1.2 percent, while manufacturing inventories rose by 0.6 percent and retail inventories inched up by 0.1 percent.

Meanwhile, the report showed business sales edged down by 0.1 percent in August after rising by 0.5 percent in July.

A 1.1 percent slump in wholesale sales more than offset a 1.0 percent surge in retail sales and a 0.1 percent uptick in manufacturing sales.

With inventories rising and sales falling, the total business inventories/sales ratio crept up to 1.26 in August from 1.25 in July.

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