Wholesale inventories unchanged in July
Washington
US wholesale inventories were unchanged in July as previously reported and sales fell, suggesting a limited boost to economic growth from restocking in the third quarter.
The Commerce Department said on Friday that the flat reading followed a 0.3 per cent increase in June. The department in its recently introduced monthly advance economic indicators report published last month had estimated that wholesale inventories would be unchanged in July.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’
US jobs growth slows in April; jobless rate up to 3.9%
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected