The U.S. Commerce Department released the business inventories data on Wednesday. The U.S. business inventories were flat in August, missing expectations for a 0.1% rise, after a flat reading in July. July's figure was revised down from a 0.1% increase.

Retail inventories climbed 0.3% in August, wholesale inventories were up 0.1%, while manufacturing inventories fell 0.3%.

Business sales decreased 0.6% in August, while retail sales decreased 0.1%.

The business inventories/sales ratio climbed to 1.37 months in August from 1.36 months in July. The business inventories /sales ratio is a measure of how long it would take to clear shelves.