The manufacturers' and trade inventories in the United States increased by 0.6% in July compared to the previous month and 18.4% versus the same period a year ago, the Census Bureau reported on Thursday. The reading came above market estimates.
On the other hand, the combined value of distributive trade sales and manufacturers' shipments declined by 0.9% in July versus June but was still 12.5% higher against July 2021. The total business inventories/sales ratio at the end of July rose to 1.32 from last year's 1.26.
