Manufacturing and trade sales rose in August

Oct. 29, 2013 at 11:12 AM

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.

Related UPI Stories
Latest Headlines
Trending Stories
Einstein vindicated: Scientists find gravitational waves
Vatican: Bishops not required to report abuse to police
Nicola Griffin to appear in Sports Illustrated swimsuit issue at 56
Dementia rates decline in U.S., researchers unsure why
'El Chapo' drug empire's alleged financial operator arrested in Mexico