Read Time:30 Second
U.S. business inventories rose 1.4% in May, the government said Friday. Sales rose 0.7% in the month. An increase in inventories adds to gross domestic product and is usually a sign of an expanding economy. The ratio of inventories to sales, meanwhile, edged up to 1.30 from 1.29 in April and 1.27 a year ago. That’s how many months it would take to sell all the inventory on hand.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0