facebook
twitter
rss
account
search
search
 

Manufacturing and trade sales rose in August

Oct. 29, 2013 at 11:12 AM   |   Comments

WASHINGTON, Oct. 29 (UPI) -- Business inventories and sales rose 0.3 percent in August, the U.S. Census Bureau said Tuesday.

Inventories rose to $1.668 trillion. Sales rose to $1.297 trillion.

The monthly figures adding up manufacturing and trade inventories were in line with the consensus forecast.

Inventories are up 3.1 percent from August 2012, while sales have risen 4.2 percent from August 2012.

The total business inventories-to-sales ratio was 1.29, 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.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Fireball Cinnamon Whisky recalled in Europe for antifreeze ingredient Fireball Cinnamon Whisky recalled in Europe for antifreeze ingredient
2
Eni makes major oil find offshore Congo Eni makes major oil find offshore Congo
3
U.S. sinks $25 million in funding for renewables U.S. sinks $25 million in funding for renewables
4
Elon Musk: We are 'summoning a demon' with artificial intelligence Elon Musk: We are 'summoning a demon' with artificial intelligence
5
U.S. average gas price headed below $3 U.S. average gas price headed below $3
Trending News
Around the Web
x
Feedback