WASHINGTON, Sept. 13 (UPI) -- Business inventories and sales rose modestly in July, the U.S. Census Bureau said Friday.
Inventories were up 0.4 percent to $1.66 trillion. Sales rose 0.6 to $1.29 trillion.
The monthly figures adding up manufacturing and trade inventories were in line with the consensus forecast.
Inventories are up 3.2 percent from July 2012, while sales have risen 4.6 percent from July 2012.
The total business-inventories-to-sales ratio was 1.28, based on seasonally adjusted data, the Census Bureau said. A year ago, the ratio was 1.3.
The ratio indicates how long it will take to sell existing inventory at current prices. As the ratio rises, it indicates manufacturers may have too much inventory on hand and may adjust by slowing production.