Business inventories were up 0.7% and sales levels rose 1.7% in June, according to Commerce Department data released yesterday.
Business inventories rose to $1.490 billion following an upwardly revised 0.4% increase in May to $1.480 billion, originally reported as a 0.3% gain to $1.479 billion. IFR Markets had projected that business inventories would be up 0.5% in the month.
Meanwhile, the increase in business sales brought the category to $1.212 billion. The June figure followed an upwardly revised 1.1% increase in May, originally reported as a 0.8% gain, and compared to IFR’s projected 1.7% increase.
