The Commerce
Department announced on Wednesday that business inventories edged up 0.1
percent m-o-m in July, following an unrevised 1.1 percent m-o-m drop in June.
That was in
line with economists’ forecast for a 0.1 percent m-o-m increase.
According to
the report, stocks at retailers climbed 1.2 percent m-o-m in July, while inventories
at manufacturers fell 0.5 percent m-o-m and those at wholesalers dropped 0.3
percent m-o-m.