U.S. wholesale inventories rose less than expected in July

According to the U.S. Department of Commerce, wholesale inventories rose 0.6% in July from the previous month, following a 1.8% increase in June.

Wholesale inventories increased by 25.1% year-on-year in July.

Wholesale sales decreased by 1.4% after increasing by 1.6% in June.

It also takes 1.29 months to exhaust inventories, up from 1.26 months in June.

An increase in inventories is an indication of the sector’s confidence that sales will increase in the coming months.

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