U.S. Business Inventories Rise 0.8% in July, Matching Forecast Median

U.S. business inventories rose 0.8% month over month in July after increasing 0.6% in June. According to Sina Finance, the U.S. Census Bureau data showed the median forecast from 24 economists was also a 0.8% increase, with estimates ranging from 0.3% to 1.0%. Wholesale inventories rose 1.3% in July after a 0.4% increase in the previous month. Manufacturer inventories rose 0.4%, while retailer inventories increased 0.8%. Total business sales rose 0.3% month over month in July after falling 1.0% in June. Manufacturer sales rose 0.8%, while retailer sales fell 0.7%.