The value of business inventories rose 0.5% in August, as expected, with retail inventories up 0.8%, according to data released Friday by the Commerce Department.
Retail motor vehicle inventories rose 1.5% as auto sales fell 0.8% that month. The remaining retail inventories categories combined for a 0.6% increase, with gains in every category except a 0.1% decline in furniture inventories.
In addition, a Market News International calculation of retail inventories not included in the published categories shows a rise of 0.8% after a 0.4% decline in the previous month.
Both factory inventories and wholesale inventories were already reported up 0.4% in the month.
Overall business inventories would have still been up 0.5% in August if the surge in retail motor vehicle inventories was excluded, an MNI calculation showed.
