U.S. business inventories barely rose in June and the inventory-to-sales ratio fell to more than a 3-1/2-year low, suggesting businesses would need to ramp up the accumulation of stock, which would boost economic growth in the third quarter.
The Commerce Department said on Wednesday that business inventories edged up 0.1 percent after a downwardly revised 0.3 percent increase in May.
June’s gain in inventories, which are a key component of gross domestic product, was in line with economists’ expectations. Inventories were previously reported to have increased 0.4 percent in May.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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