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U.S. business inventories edge up 0.1 percent in July

The Commerce Department announced on Wednesday that business inventories edged up 0.1 percent m-o-m in July, following an unrevised 1.1 percent m-o-m drop in June.

That was in line with economists’ forecast for a 0.1 percent m-o-m increase.

According to the report, stocks at retailers climbed 1.2 percent m-o-m in July, while inventories at manufacturers fell 0.5 percent m-o-m and those at wholesalers dropped 0.3 percent m-o-m.

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