WASHINGTON — U.S. businesses increased their stockpiles in June by the largest amount in seven months, while sales also rose. The Commerce Department says business inventories rose by a seasonally adjusted 0.5 per cent in June, following May’s gain of 0.3 per cent. Sales increased 0.3 per cent, an improvement over the slight 0.1 per cent gain in May. Economists expect that inventory growth will strengthen further in coming months and help support overall economic expansion. That follows a tepid 1.2 per cent expansion in the first quarter, which was dragged down in part because inventories subtracted from overall economic activity.

Source: National Post August 15, 2017 14:03 UTC