![Wholesale inventories concept depicting by employees having short meeting in the warehouse to check levels of business inventories. First in first out. (Photo: AdobeStock)](https://www.peoplespunditdaily.com/wp-content/uploads/2019/06/AdobeStock_128152686-Business-Inventories-1200x630-1200x630.jpeg)
Sales Pickup Pace, Pointing to Needed Build in Business Inventories
The U.S. Census Bureau reported business inventories gained 0.4% (±0.1%) to $2,042.6 billion in July, edging out the forecast in a positive sign for third-quarter (Q3) gross domestic product (GDP). Inventories were up 4.8% (±0.4%) from July 2018.
Forecasts for July ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was 0.3%. Estimates are adjusted for seasonal variations but not for price changes.
Business sales were estimated at $1,462.9 billion, up 0.3% (±0.1%) in July from June and 1.3% (±0.3%) from July 2018.
The total business inventories/sales ratio based on seasonally adjusted data at the end of July was 1.40. The July 2018 ratio was 1.35.
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