US wholesale inventories rise 0.6% in July
Wholesale trade sales fall 1.4% to $698B
By Ovunc Kutlu
ANKARA (AA) - Wholesale inventories in the US rose 0.6% in July to $900.7 billion, according to Department of Commerce figures released on Friday.
The figure, which measures the change in the total value of goods held in inventory by wholesalers, was expected to show an increase of 0.8% from the previous month.
The figure in June was revised to $895.4 billion for a monthly gain of 1.8%.
Wholesale trade sales, also known as total sales of merchant wholesalers, on the other hand, fell 1.4% to $698 billion in July.
While the estimate for wholesale trade sales was for a gain of 1.4% in July, the level in June was revised to an increase of 1.6% from 1.8%.
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