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US business inventories posts no change in June

US business inventories posts no change in June

Mubasher: US business inventories saw no actual change during June at $2.035 trillion on a seasonally adjusted basis, compared with the revised reading of May, official figures showed on Thursday.

On an annualised basis, business inventories rose by 5.2% last June, the US Commerce Department’s Census Bureau said.

The collective value of distributive trade sales and manufacturers’ shipments rose slightly by 0.1% to $1.460 trillion.

The ratio of overall inventories to sales in May was 1.39, down from 1.40 in the preceding month, while it came slightly higher than the ratio of 1.34 in the same month last year.

By 2:08 pm GMT, the dollar index, which tracks the greenback against a basket of six major rivals, rose by 0.13% to 98.12.