USA: business inventories rebound in July

(CercleFinance.com) - U.
S. business inventories rebounded slightly in July after remaining stable in June, according to data released Monday by the Commerce Department.

Business inventories rose by 0.2%, slightly below economists' forecasts of 0.3%, after remaining perfectly stable the previous month.

The statistic was mainly driven by a 1% rise in automotive inventories, while computer equipment inventories rose by 1.4%.

Business sales rose by 1.1% in July, meaning that at the current rate it will take 1.35 months to clear inventories, compared with 1.38 months in July 2023.

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