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The U.S. Commerce Department released the business inventories data on Thursday. The U.S. business inventories rose 0.8% in June, exceeding expectations for a 0.3% increase, after a 0.3% gain in May.
The increase was driven by a rise in in all categories. Wholesale inventories climbed 0.9% in June, retail inventories were up 0.9%, while manufacturing inventories rose 0.6%.
Business sales climbed 0.2% in June, while retail sales declined 0.1%.
The business inventories/sales ratio increased to 1.37 in June from 1.36 months in May. The business inventories /sales ratio is a measure of how long it would take to clear shelves.
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