Wholesale Inventories Rise in July
Wholesale inventories rose 0.1% in July, the smallest increase since the same month last year, after rising 0.2% the prior month, the Commerce Department reported Sept. 10.
The median estimate in a Bloomberg News survey of economists called for an advance of 0.5%. Sales increased 0.7% after a 0.4% rise the prior month.
Inventories excluding oil rose 0.3% in July.
For the rest of the year, analysts predict that inventory-building will support economic growth but will not exhibit the sharp swings seen in the first half of this year, Bloomberg reported.
Wholesale inventories account for about one-fourth of total business stockpiles. Retailers and factories account for the rest.