The
Commerce Department announced on Friday that business inventories increased 0.6
percent m-o-m in August, following a revised 0.6 percent m-o-m gain in July
(originally a 0.5 percent m-o-m advance).
This
was in line with economists’ forecast for a 0.6 percent m-o-m rise and marked
the 13th consecutive monthly gain in business inventories.
According
to the report, inventories at wholesalers jumped 1.2 percent m-o-m, while those
at manufacturers increased 0.6 percent m-o-m and at retailers edged up 0.1
percent m-o-m.
In
y-o-y terms, business inventories surged 7.4 percent in August.