WASHINGTON, Sept. 9 (UPI) -- U.S. wholesale inventories rose 0.8 percent in July following an increase of 0.6 percent in June, the Commerce Department said Friday.
The July increase to a seasonally adjusted $462.4 billion lifted inventories 15.1 percent above the July 2010 total.
June's inventory level was revised higher by $200 million to $458.9 billion.
Wholesale sales for June were unchanged month-to-month, holding steady at $396 billion. Sales from the same month a year ago were up 14.4 percent, Commerce said.
The inventory-to-sales ratio -- reflecting how many months it would take a company to deplete its inventory at the current sales pace -- came in at 1.17, slightly higher than June's ratio of 1.16.
A year earlier in July the ratio was also 1.16.
Inventories of durable goods -- items meant to last three or more years -- increased 1 percent after a May-to-June increase of 1.3 percent.
Durable goods sales rose 1.4 percent month-to-month and 11.7 percent from July 2010.
|Additional Business News Stories|
TEL AVIV, Israel, May 17 (UPI) --Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.