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June US Business Inventories Flat, Business Sales Fall

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Business inventories held steady in June, below expectations for a 0.1% increase in a survey compiled by Bloomberg and following a 0.4% increase in the previous month.

Retail inventories were down 0.2%, revised downwards from a flat reading in the advance estimate, while wholesale inventories rose by 0.2% and factory inventories increased by 0.1%.

Business sales declined by 1.1% in June, with retail trade sales up 0.2% after revision. Wholesale sales decreased by 3.0% and factory shipments were down 0.2%.

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