WASHINGTON – Business inventories increased 0.3% in June, following a revised 0.2% increase in May, the Commerce Department reported Friday.
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May inventories were originally reported as up 0.1%
Retail inventories increased 0.8% for the month, the largest increase since March. Retail inventories excluding motor vehicles were flat.
Economists expected business inventories to increase 0.2%, according to the median estimate from Thomson Reuters.
Total business sales fell 0.6% in June following a 1.2% decline in May.
The inventories-to-sales ratio increased to 1.26, the highest level in five months. The ratio was 1.25 in May.
